On January 1, 2017, Skysong Company purchased 11% bonds, having a maturity value of $274,000, for $295,314.87. The bonds provide the bondholders with a 9% yield. They are dated January 1, 2017, and mature January 1, 2022, with interest received on January 1 of each year. Skysong Company uses the effective-interest method to allocate unamortized discount or premium. The bonds are classified as available-for-sale category. The fair value of the bonds at December 31 of each year-end is as follows.

6. Think about ethical communication opprtunities provided by social media. As the CEO, how would you shape your company's culture to use social media (such as Facebook,I witter) to promote ethical behavior and communicte the organization's value? What are the advantages and dangers of using social media? No more two paragraghs.

This is a business communication question. after reading a case which a corporate has issues on developing product and corporate culture, as a CEO, I need to craft a message to employees to solve the issues.

C. Craft the message that you will communicate internally and explain what change management principles you considered when developing this message.

How does Amazon CEO Jeff Bezos Achieve Cultural Diversity and what are his best practices and initiatives for achieving cultural diversity in the organization?

For example, does his executive board contain any minorities?

Explain which leadership practices were successful in diversity efforts and which practices needed improvement.

When answering the provided questions, you must ensure that your answers address the questions, that your answers have an Australian accounting/financial reporting focus, that your answers are internally consistent, and that the individual components of your answers provide a well-rounded argument that is easy to follow.

The Chief Financial Officer (CFO) of Large Mart has been unable to find answers for two accounting problems. He has asked you to investigate the following questions and to write a report (including relevant references to source materials and accounting standards) that will provide him with a sufficient understanding of these issues to allow a well-supported decision to be made. To achieve this, the CFO seeks you to answer specific questions, but also to outline the development of your answers sufficiently to allow a reader to understand why you have developed your answers.

Question:

The Chief Executive Officer (CEO) of Large Mart has asked the CFO if it is possible to change the cost flow assumption that is used to value Large Mart’s inventory. At the moment, Large Mart is using the First-In-First-Out (FIFO) cost flow assumption (in a perpetual inventory accounting system) and although the CEO would like to retain a perpetual inventory accounting system, she would prefer the application of a different cost flow assumption. The CEO would like to make this change because she believes that this could potentially improve Large Mart’s financial position in the balance sheet.

The CFO asks you to investigate, and write a report about, the following questions:

a)     What are the legal requirements in relation to changes in inventory cost flow assumptions for reporting entities in Australia? In your answer, you should discuss (1) whether or not changes to cost flow assumptions are permissible in principle and why, and (2) what valuation options (other than FIFO) may be available to Large Mart. (500 Words)

b)     What are the legal limitations to changes in cost flow assumptions for reporting entities in Australia? In your answer, you should discuss (1) what legal restrictions would limit Large Mart’s ability to make changes to their inventory cost flow assumptions, and (2) whether or not the reason why the CEO would like to make this change may have any impact on Large Mart’s ability to make such a change. (500 Words)

In the world of Human Resources, the acronym "KSA" stands for Knowledge, Skills, and Abilities. Assessors apply it to evaluate candidates' qualifications in terms of the general requirements of a job, With this in mind, please identify the key advantage, in terms of knowledge, skills, or abilities, of each of the six candidates.

1. Atasi Das: Born in the United States, Das joined TCT nine years ago after earning her MBA from a university in New England. At 37, she has successfully moved between staff and line positions and assumed broader responsibilities in strategic planning. For two years, she was the assistant director of a midsized product group. Her performance regularly earns excellent ratings. Currently, she directs supply-chain logistics from TCT’s home office. Upon joining TCT, she stated her goal was to work internationally, pointing to her undergraduate major in international management. She has reiterated her interest in international responsibilities and her interest in continuing with TCT. She is open to looking for help opportunities elsewhere. She speaks Hindi and is unmarried. Her parents, who now live in the United States, are first-generation immigrants from India. She has relatives in India’s northern states, Kashmir and Punjab.

2. Brett Harrison: Harrison, 44, has spent 15 years with TCT, running both line activities and supervising staff centers. His superiors consider him a seasoned executive poised to move into upper-level management. For the past two years, he has worked in the Singapore-based Asian Regional Office, as director of strategic planning. He regularly tours TCT’s Asian operations. He and his wife, along with their two teenage children, have traveled to India a few times and are familiar with its geography, politics, customs, and outlooks. The Harrisons know other expats in Bengaluru. Mrs. Harrison works as the marketing director for the Singapore subsidiary of a Japanese pharmaceutical MNE. It presently has sales, but no operating unit in India.

3. Jalan Bukit Seng: Seng, 52, is the managing director of TCT’s laser printer manufacturing plant in Malaysia. A citizen of Singapore, he has worked in Singapore or Malaysia. He has regularly commuted to various TCT factories, helping to reset assembly systems and supervising equipment refits. He earned an undergraduate and MBA degrees from the National University of Singapore and speaks Singapore’s four official languages--Malay, English, Mandarin, and Tamil. His performance reviews are consistently positive, with a periodic ranking of excellent. Seng is unmarried but has family members in Singapore and Malaysia.

4. Ravi Desai: Currently an assistant managing director in TCT Japan, Desai oversees production units in Japan and South Korea. A citizen of India, he has spent his 15 years with TCT working in various operational slots throughout Asia. Now 37, he holds an MBA from the prestigious Indian Institute of Management. Some see him as a likely candidate to direct the Indian operation eventually. He is married, has two children (ages 2 and 7), and speaks English and Hindi well. His wife, also a native of India, neither works outside the home nor speaks English.

5. Saumitra Chakraborty: At 32, Chakraborty is the assistant to the departing managing director in India. He has held that position since joining TCT India upon graduating from a small private university in Switzerland eight years earlier. Unmarried, he consistently earns a job performance rating of excellent in customer relationship management. He has increased TCT India’s sales, largely owing to his social connections with prominent Indian families and government officials along with his skillfulness in the ways of the Indian business environment. Besides speaking India’s main languages of English and Hindi, Chakraborty is the only candidate who speaks Kannada (the local language of Bengaluru). Presently, he lacks line experience.

6. Tom Wallace: A 30-year veteran of TCT USA, Wallace has broad technical skills and sales experience. He worked with Gary Kent on supply-chain projects in the United States. Although he has never worked abroad, he has toured TCT’s foreign operations. He recently expressed interest in an expatriate slot. His superiors typically rate his performance as excellent. Wallace is set to retire in seven years. He and his wife speak only English. They have three adult children who live with their families in the United States. Presently, Wallace manages a U.S. unit that is a little larger than the present size of TCT India. The merger of his unit with another TCT division will eliminate his current position in nine months.

Crunch Fitness company started operating in Melbourne in January 2016. The company experienced significant growth and expansion since it had listed on the ASX with only 20 centres. By January 2019 they were running 300 fitness centres across Australia. Their cash flows had grown significantly over the four years of operation. Crunch Fitness company was led by senior management who had aggressive expansion strategy, relying heavily on borrowings from the banks. Moreover, the management focusing on short term targets and not considering long term impacts, encouraged high risk taking. The Board was also ignorant of the risk facing the company. The company went from a positive cash flow of $400 million from its operating activities in its 2018 full year accounts to a deficit of almost $150 million in the second half of 2019. In February 2020, its Board concluded the company had insufficient cash to repay nearly $1 billion of debts to creditors and appointed administrators to take control of the company. Few months later Crunch Fitness ceased its operations.

Discuss the aspects of corporate governance and board mechanisms that could have served to limit the likelihood of Crunch Fitness company failure.

The financial year for Crystal Catering Services ends on 30 June. After analysing the accounting records and other data for the business of Crystal Catering Services, the following information is made available for the year ended 30 June 2020.

• Crystal Catering Services sub-lets space in its building of $2,400 (excluding GST) per month. Crystal Catering Services has not received the rent for June 2020.
• Crystal Catering Services borrowed $15,000 from Metro Bank on 2 February 2020. The principal, plus 5% pa interest, is payable on 15 August. Accrued interest on 30 June has not been recorded.
• The sales assistant earns $130 per day. She will be paid on 3 July for the 5-day period ending 3 July 2020. Accrued wages for sales assistant on 30 June has not been recorded.
• On 18 May, Crystal Catering Services received an advance from a customer for services totalling $890 (plus GST). This was recorded in the unearned cleaning revenue. The services were provided on 26 June 2020.
• Crystal Catering Services purchased a 6-month insurance policy for $1,200 (plus GST) on 1 May 2020. The purchase of this was recorded by debiting Prepaid Insurance.
• Repairs to Crystal Jone’s, the owner of Crystal Catering Services, private motor vehicle of $620 was debited to the Vehicles expense account.

Required:

Using the information above, make the necessary adjusting entries for Crystal Catering Services for the year ended 30 June 2020.

On January 8, 2017, Whitewater Riders purchased a van to transport rafters back to the point of departure after completing the on-the-water portion of the rafting adventures they operate. The cost of the van is $44,000 and Whitewater Rider expects to use the van for four years or 60,000 miles. The estimated selling price after four years is $2,000. The van was driven 12,000 miles in 2017, 18,000 miles in 2018, 21,000 miles in 2019, and 10,000 miles in 2020.

Required:

On the following Whitewater Riders worksheet, compute the annual depreciation expense and ending book value of the van using straight-line, double-declining, and units-of-production methods. In addition, answer the three questions below:

1.   Which method results in the highest net income for Whitewater Riders?

a. 2017 b. 2018 c. 2019. d. 2020

2.   Which method results in the lowest income tax liability for Whitewater Riders?

a. 2017 b. 2018 c. 2019. d. 2020

3.   Which method would you recommend Whitewater Riders use and why?  

Whitewater Riders

Schedule of Van Depreciation for years 2017- 2020

Depreciation Method       Year        Depreciation expense       Ending Book Value

Straight-line                       2017

Straight-line                       2018

Straight-line                       2019

Straight-line                       2020

Double-declining              2017

Double-declining              2018       

Double-declining             2019

Double-declining             2020

Units-of-production         2017     

Units-of-production         2018

Units-of-production         2019

Units-of-production         2020