ACC521 Corporate Reporting- preparing consolidated financial statements

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ACC521 Corporate Reporting

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Questions:

1. Discuss the advantages and disadvantages of preparing consolidated financial statements; AND

2. Answer the following question:

At 1 July 2020, Kevvy Ltd and Alfie Ltd own 60% and 40% respectively of Broncos Ltd’s ordinary shares that carry voting rights. In October, Kevvy Ltd sells half of its shares to Wally Ltd and buys call options in Broncos Ltd. These options can be exercised at any time by Kevvy Ltd for $1.85 per share. If exercised, Kevvy Ltd would regain its original 60% ownership interest and voting rights in Broncos Ltd. As at 30 June 2021, the market price of Bronco Ltd’s shares is $1.50 per share. Explain whether or not Kevvy Ltd would be considered the parent of Broncos Ltd as at 30 June 2021

To prepare each presentation, you should follow the following steps:

1. Prepare the Powerpoint slides: See below for some general tips on preparing the slides;

2. Record both audio and video to the slides (ie we must be able to both see and hear you in the recordings): A link has been added to Blackboard that provides instructions on how to do this (ie ‘Record a slide show with narration and slide timings’). It is important that you do the recording in a location that is quiet and where you won’t be disrupted. You may also like to do a practice recording first before doing the final version;

3. Export the Powerpoint slides files as a video file (mp4 format):

There is a link on Blackboard that provides instructions on how to do this (ie ‘Turn your presentation into a video’);

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