This assignment is a memorandum prepared by a graduate accountant for Power Ltd, addressing accounting issues arising from the potential acquisition of Cargo Limited. The memo, directed to the company's director, Daniel Ford, analyzes the accounting treatment of business combinations and consolidations in accordance with Australian Accounting Standards (AASB). The memorandum addresses key concerns raised by the board of directors, including the recognition of identifiable assets and liabilities at fair value, the treatment of asset revaluation and the usage of equity accounts, and the existence of equity accounts after the business combination. The memo provides detailed explanations and analysis of these issues, referencing specific paragraphs within AASB 3 and other relevant standards. The memo aims to assist the board in understanding the accounting implications of the acquisition and making informed decisions. The analysis covers topics like the recognition and measurement of assets and liabilities, the treatment of revaluation surplus and losses, and the classification of equity accounts in consolidation worksheets. The memo also addresses the impact of share-based payments and the treatment of contingent consideration. The assignment also required a video presentation summarizing the key findings of the memo.