Having a business continuity plan | My Assignment Tutor

Question (select the most right answer from the options (a-d) provided) 1  The Caltex annual report shows in 2013, the auditors a)  KMPG charged $919,400 in audit service fees b)  KPMG received $1,070,800 in fees c)  KMPG charged $151,400 innon-audit service fees d)  KPMG charged $919,400 in extra fees not related to audit 2  The Caltex 2013 annual report shows that the 19 largest shareholders hold _______percent of the issued shares a)  88.05 b)  88.50 c)  87.89 d)  None of the above 3  Caltex show in their 2013 Annual report that liquidity risk is managed by: a)  Checking interest rates regularly and negotiating the best rates with their bank b)  Maintaining adequate banking facilities and reserve borrowing facilities c)  Having a business continuity plan d)  Making sure they have a good reputation so the bank will lend them money 4  The refining and supply area of Caltex business in the 2013 annual report a)  Is the most profitable area of the business b)  had 57% of total capital expenditure c)  Earned $3.5 million d)  All of the above 5  In regards to inventory sales in the Caltex 2013 annual report: a)  The selling price is calculated as the lower of cost or net realisable value b)  The selling price is measured at fair value c)  The selling price is measured at replacement cost d)  The selling price is measured at fair value net of rebates and discounts 6  Capitalised research and development expenditure inthe Caltex 2013 annual report are measured at a)  Fair Value b)  Current cost less amortisation expenses and adjusted for impairment under AASB136 c)  Replacement Cost less amortisation expenses d)  Historic Cost less amortisation and adjusted for impairment under AASB136 7  Earnings Management techniques used by Caltex in their 2013 annual report include: a)  Taking a “big bath” in 2012-2013 by closing down the refinery and having to pay millions is salary related entitlements to staff affected by the closure. b)  Income smoothing by creating a provision for employee entitlements c)  Making accrual adjustments to their receivables and failing to account for impairment d)  None of the above 8  Legitimacy theory in practice found in the Caltex 2013 annual review a)  Can be seen with the voluntary disclosure of Caltex adhering to the disclosure of Co2 emissions to maintain the social contract with the government stakeholder b)  Is illustrated with the voluntary disclosure of selected CSR information to create a positive impression of the company to maintain the social contract with interested stakeholders c)  The legitimate disclosure of a $1500 fine for an oil spill to maintain the social contract with the environmental protection authority that issued the fine d)  None of the above 9  Good corporate governance in the Caltex 2013 annual report a)  Is shown with the disclosure that the auditors are no longer independent as there are only non-executive directors on the audit committee b)  Is demonstrated as there are no independent directors and this is important as all executives need to be intimately involved in the running ofthe business for it to be successful c)  Is shown with the disclosure that there are policies and restrictions in the trading of securities prior to the release of results for executives and staff d)  None of the above 10  As shown in the annual report, Caltex remunerated its directors in 2013 a)  With only fixed salaries and these increase regularly by 10% b)  With only fixed salaries and bonuses that were all achieved in 2013 c)  With fixed salaries and only long term bonuses that giveparticipants the opportunity to receive Caltex shares d)  None of the above ACCT 3004 Accounting Theory and Analysis  Final Exam Semester 1and Trimester 1A 2015 Page 3 of 4 SECTION B –Essay (15 Marks) Students are required to write a short essay of 700-1000 words (+/- 5%) on the following topic: “Companies making profits don’t fail” Discuss the possible circumstances thatmake this statement false. Provide examples where appropriate. (In-text and end-text referencing for this question are required and should be included at the end of Section B). Marks are allocated for introduction, content and originality, conclusion, spelling/grammar, and referencing. NOTE: If NO references provided –> Your Grade for Part B = ZERO ACCT 3004 Accounting Theory and Analysis  Final Exam Semester 1and Trimester 1A 2015 Page 4 of 4 SECTION C – Short Answer/Research and Analysis (25 Marks) The British American Tobacco (BAT) Annual report is to be used to answer these TWO questions. A copy is provided on Blackboard for students to download. IMPORTANT NOTE: ï‚·  There are 25 marks allocated to Section C, therefore full explanation is required to receive high marks and cut and paste answers only are not appropriate. ï‚·  In-text and end-text referencing is required for Question 1 and 2 and should be included at the end of each question. ï‚·  Page numbers must be provided for examples and quotes from BAT Annual report. Question 1 (5 marks) Using disclosures made in the BAT 2014 Annual Report identify and provide 2 examples where BAT is addressing attributes related to “legitimacy theory”. (Answers mustbe explained in full and the link of the 2 examples to legitimacy theory must be clear). Question 2 (20 marks) Suggest an approach that would require a tobacco producing organisations such as British American Tobacco to produce a report that addresses the “Triple Bottom Line (TBL)”. Students are required to answer this question in a structured organised format in up to 2000 words. IF required a short Appendix that won’t be included in the 2000 wordlimit may be included. However, the emphasis for marks allocation will be on the 2000 wordsubmission not the Appendix. How you organise and present your suggestions is important. Marks are allocated for content, originality, structure, spelling/grammar, and referencing. Guidance: Students should consider the possibility of a TBL report that is concise 1-4 pages only, with detailed notes similar to those found in traditional accounting reports. The TBL report that you suggest should not be designed to replace traditional financial reports. Consider the TBL report as a supplementary report that coordinates the disclosure of TBL information so stakeholders can access information in a single place in the annual report that could become mandatory disclosure in the future. Examples from the BAT 2014 annual report can be used as part of suggestions made aswell as other suggestions you think may be appropriate for this industry. Suggestions can be a departure from traditional accounting disclosure practices. That is, new and different suggestions could be made but they should be fully explained and should be related to BAT and not any other business or industry. Students are encouraged to research and review a number of sources in deciding how to best address the suggested TBL report of British American Tobacco. Note: The question does not require you to produce a TBL report. Answers should suggest the important content of a TBL report for BAT, suggest a format, and address measurement, disclosure and audit

QUALITY: 100% ORIGINAL PAPER – NO PLAGIARISM – CUSTOM PAPER

Leave a Reply

Your email address will not be published. Required fields are marked *