Accounting and Society Assignment 2022

Running head: ACCOUNTING AND SOCIETY
ACCOUNTING AND SOCIETY
Name of the student:
Name of the university:
Author Note:

ACCOUNTING AND SOCIETY1
Table of Contents
Introduction:...............................................................................................................................2
Discussion:.................................................................................................................................2
In Response to requirement A................................................................................................2
In Response to requirement B................................................................................................2
In Response to requirement C................................................................................................3
In Response to requirement D................................................................................................4
Conclusion..................................................................................................................................4
References..................................................................................................................................5

ACCOUNTING AND SOCIETY2
Introduction:
The aim of the assignment deals with the chosen company which is Treloar Business
Pty Ltd. and further the details regarding the performance of the business have been depicted
accordingly. The Business of Treloar does not perform the accounting reports and in that case
FGF provides the assistance to the business in terms of the financial prospects. The company
in that case analyzes the financial information in a detailed manner along with help the
business of Treloar to prosper accordingly in terms of the financial circumstances.
Discussion:
In Response to requirement A
Treloar Buses Pty Ltd is basically regarded as the fully owned subsidiary of the
Treloar Holdings Pty Ltd which is further known as the (THPL). The company under the
rules and regulation of SAC 1 does not prepare the financial statements or the consolidated
financial statements. The head office of the Treloar buses is in the small town of Victorian
which is Terang. There are a total of 10 buses costing $295,000 each purchased from the
Warrnambool manufacturer from the Earl Industry. Till the year 2018, Treloar was not a
reporting entity due to the reason that company does not maintain or prepare financial report
for the purpose of analyzing the financial performance of the concern. But it is significant for
the business to prepare or rather maintain the financial records or statement in order to
analyze the financial status of the concern (Duska, Duska and Kury 2018).
In Response to requirement B
Once Treloar becomes a public limited concern from 1 July 2019, the company will
start to prepare the consolidated financial statement at the end of the year by evaluating all
the significant financial operations of the business. As per the accounting standard AASB