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Sample Assignment on Financial Accounting (PDF)

   

Added on  2021-06-16

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Running head: FINANCIAL ACCOUNTINGFinancial AccountingName of the Student:Name of the University:Author’s Note:
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FINANCIAL ACCOUNTING1Executive Summary:In the present report, an conclusion will be drawn regarding the various breaches inrespect of the laws that are applicable on the entity. The breach in the roles and responsibilitiesof the managers that led to the bad decision making process of the entity and several otherfactors like the ethical and moral principles and procedures.
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FINANCIAL ACCOUNTING2Table of Contents1.Introduction:.............................................................................................................................32.Overview of the entities, which went into liquidation:............................................................33.Factors that led to the downfall of the company:.....................................................................44.The various principles of ethics and corporate governance being applicable on the entity:....75.Various breach in the roles of the responsibilities of the management that led to insolvencyof the companies:.............................................................................................................................96. Conclusion:................................................................................................................................10References:....................................................................................................................................12
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FINANCIAL ACCOUNTING31.Introduction:Liquidation takes place when an organization decides to sell of its significant amount ofassets and the inventory held by it at a discount to any other organization for cash or any otherconsideration. The liabilities and the rights of the third parties are met by way of paying of theamount due to them in cash either fully or partially by the liquidating company. There can bewide range of reasons for the organization being forced to liquidate itself (Hoyle et al. 2015). Inthe present report, an effort has been made to determine the factors that lead to the liquidation ofthree major player’s ion the corporate world of Australia. The entities chosen are HIGHinsurance, ABC Learning and One Tel. 2.Overview of the entities, which went into liquidation:ABC Learning:ABC Learning was an influential player in the educational sector of the country and leadthe market often times. The company had a market capitalisation of around $2.5 Billion and wasa listed entity I the Australian Stock Exchange. The downfall started when the company shiftedtowards the policy of managerial receivership and took huge debts and mortgages to conduct itsoperations. The company was engaged in the operations of more than 900 centres all acrossAustralia and was established in the year 1988 in Queensland. For expanding its current businessportfolio in the UK and the US the company took over the operations of Bees Group for aconsideration of $600 million in the year 2006 (Warren et al. 2018). HIGH Insurance:
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