SUSS ACC202 Financial and Managerial Accounting GBA Analysis Report

This document presents a solution to the ACC202 Financial and Managerial Accounting Group-Based Assignment (GBA), focusing on the application of Generally Accepted Accounting Principles (GAAP) to various financial scenarios. The analysis covers revenue recognition, specifically examining the accounting treatment of revenue by Tom and its adherence to GAAP. It also evaluates the appropriateness of expenses, such as Mary's course fees and Connex Company's publicity and promotion spending, in accordance with GAAP guidelines. Furthermore, the document addresses inventory valuation, comparing cost and market value to determine the correct accounting treatment for Delphi Company. Finally, it discusses depreciation methods, assessing the justification for Xenon Research's decision to depreciate machinery over a shorter period. The solution references relevant financial reporting standards and illustrative financial statements to support its conclusions.