BUSN3690 Financial Accounting, Reporting and Analysis

BUSN3690 Financial Accounting, Reporting and Analysis
Report assignment
Read the background information below. You need to analyse the information given in order
to identify the relevant points to include in your report to your client (as required below).
Context:
You are an adviser to a sole proprietor of a business selling home-made toys.
During the year, the regular maintenance checks on the machine were missed
due to cost-cutting. Later, the sewing machine stopped working and was
unusable for two months while it was repaired. You have told the client that
the repairs are just a maintenance cost and must be treated as an expense.
However, your client does not want to record the cost of repairs as an expense
this year because this will push the business results into a loss. Instead, she
wants to capitalise the repair cost so it will be included in future depreciation.
Required
Prepare a report to explain to your client the proper accounting treatment of the
repairs to the sewing machine. Include in your report the relevant accounting
conventions and/or regulations that apply. (1000 – 1200 words).
Some important points:
1. Readings: Use the custom book (or the original Atrill and McLaney books) plus relevant
academic sources (see seminar 6 on using sources and library searches). If relevant,
professional news articles may be used to source real-world examples.
✓ Use valid news sources sparingly. DO NOT write a full report based solely on
newspaper journalism.
2. Referencing: All sources used MUST be referenced correctly in your reference list (and
use in-text citation). Use the guide in Moodle or on the academic integrity website
(www.kent.ac.uk/ai).
✓ DO NOT use google websites, Investopedia, tutor2u, essay cheat sites or any nonacademic peer reviewed source for academic research.
3. See the ‘Assignment notes and tips’ on Moodle for a suggested report layout.
Notes on using the custom book:
You must use the same style requirements as for an edited book. Please note that when you
use an edited book, you must cite the authors of the chapter
a) In-text citation
Chapter
in a
book
Use chapter author’s name and year of publication (with page number):
Atrill & McLaney (2021, p.298) question whether shareholder
activism is a key factor in business profitability….
The item will be listed in the reference list under Atrill & McLaney (2021)
b) Reference list
Book
chapter:
Single editor
Atrill, P, & McLaney, E. (2021) ‘Governing a Company’. Chapter 7 in
Cohen, J. ed. CB 369 Financial Accounting, Reporting and Analysis.
Custom Book, University of Kent. 2
nd edition. Harlow: Pearson
Education Ltd.

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