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Advanced Accounting Management Assignment

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Added on  2020-05-16

Advanced Accounting Management Assignment

   Added on 2020-05-16

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Advanced Accounting Management2017
Advanced Accounting Management Assignment_1
1By student name ProfessorUniversityDate: Januray 21 , 2018.1 | P a g e
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2ContentsPart 1...............................................................................3Part 2................................................................................5Refrences........................................................................102 | P a g e
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3Part 11.Recent predicament facing Bellamy’s Australia Limited:From the annual reports of the company for the year 2016 and 2017, it can be seen thatthe company has been fined by the ASIC for breach of the disclosure norms on acontinuous basis. It has been fined as it failed to disclose to the Australian StockExchange that it was about to downgrade revenue. It has not disclosed the same andgiven misguided or alleged wrong results for 2016 and forecasts for 2017. ASICinvestigated the issue and imposed fine as a result of which share prices plunged a greatdeal and there was significant drop in the sales. Also, Bellamy has used ASIC regulatorguide RG230 “Disclosing Non IFRS information.” The profit and loss account has beensourced from accounts but the same has not been subject to review or audit[ CITATIONAbb17 \l 1033 ]. The Directors believed that this represented the information which wouldeb useful to the users of financial statements but it is a deviation from normal.2.2016 Goodwill, acquisition and the cash positionThe goodwill of the company in the year 2016 as well as 2017 is nil. The onlyintangible assets reported in the balance sheet are Product development costs and thesoftware. The company has made one major acquisition of Camperdown Power Pty Ltd.in 2016-17. The costs associated with it were $ 6.7 Mn which mainly included the legaland professional expenses, capital costs and the restructuring costs[ CITATION Ale16 \l 1033]. This acquisition will impose greater ownership and responsibility on the company forproducing infant milk formula.3 | P a g e
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