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Accounting and Various Factors in ABC Learning Centre of Australia : Report

   

Added on  2020-07-22

14 Pages3129 Words54 Views
ACCOUNTING
Accounting and Various Factors in ABC Learning Centre of Australia : Report_1
EXECUTIVE SUMMARY In the present report it is discussed about the definition of accounting and its variousfactors in ABC Learning centre of Australia. The introduction to the company and the servicesprovided is briefly discussed. It includes the causes and meaning of liquidation (wind up orbrought to an end of the company) of the centre and major factors that can arise liabilities of thebusiness is explained in detail. A brief about financial stress and how to overcome it is beendiscussed below. In addition, Definition and importance of Ethics, governance, factors affects inliabilities, recommendations and conclusion is discussed in detail.
Accounting and Various Factors in ABC Learning Centre of Australia : Report_2
Table of ContentsINTRODUCTION ..........................................................................................................................2LIQUIDATION & LIABILITIES ..................................................................................................2ETHICS AND GOVERNANCE ....................................................................................................4MAJOR FACTORS IN LIABILITIES ...........................................................................................6FINANCIAL STRESS ....................................................................................................................7RECOMMENDATIONS/ FINDINGS ...........................................................................................9CONCLUSION ...............................................................................................................................9REFERENCES .............................................................................................................................101
Accounting and Various Factors in ABC Learning Centre of Australia : Report_3
INTRODUCTION The process of keeping financial accounts is known as accounting. The measurement,processing and communication of financial information about economic entities such as businessand corporations (Deegan, C., 2013). The company taken here is ABC Learning Company. Itwas the worlds the largest provider of early childhood education services in Australia. In thisreport the liquidation and the liabilities of the business will be explained in detail. Ethics,governance, financial stress, major factors in liabilities and the recommendations will bediscussed in detail.Source : (ABC Learning centres logo on HQ building in Brisbane, 2013.)LIQUIDATION & LIABILITIES Due to increase in liabilities the ABC Learning centre has turned to liquidation of thecompany because the organisation was in heavy loss. It turned into lack of finance which createda financial stress and lead the company in heavy financial crisis as a result of which the ownerswind up the education centre. The process by which a company is brought to an end. The assetsand property of the company are redistributed. Liquidation is also sometimes referred to windingup or dissolution of a business company or organisation. It technically refers to the last stage ofliquidation. Types of liquidation in a company:2Illustration 1: ABC Learning Centres
Accounting and Various Factors in ABC Learning Centre of Australia : Report_4

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