Subject Code : ACCT90004
Assignment Task

 

Dear Lucy and Bryan,

  • Welcome to the firm and your first research and investigation task as Summer interns.
  • Your task will be to research, investigate and apply AASB 15 Revenue from Contracts with Customers examining three of our clients who are experiencing some difficulty in recognising revenue during the financial year 2020.
  • The difficulties that these three clients have experienced is due to the changes to business resulting from the global pandemic, COVID-19.
  • The three clients are Fathoms Deep Scuba Diving Pty Ltd, Biggin Hill Constructions Pty Ltd and The On-line Book Depository Pty Ltd. Fathoms Deep Scuba Diving Pty Ltd is a training and scuba tour company offering dives at Pope’s Eye and wreck dive EX- HMAS Canberra off Barwon Heads. Biggin Hill Constructions Pty Ltd designs and constructs upmarket homes and apartments. The On-line Book Depository is an on-line retailer specialising in first edition books.
  • Your investigation for all three (3) clients and all individual cases will relate to the financial year commencing on 1 July 2019 and concluding 30 June 2020.
  • The three clients have adopted accrual accounting for profit determination.
  • The three clients have adopted the Xero accounting cloud base software to record all transactions and produce their financial reports

 

 

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  • Posted on : May 01st, 2019
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