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    Liquidation of the Companies

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    A number of companies have gone into liquidation because they have not been able to meet their liabilitieswhen they fell due. In Australia, there are some well-publicised examples such as Aluminium BoatsAustralia, HIH Insurance and Stellar Homes.Discuss all three companies above and find (via electronic journals) the events that led up to the liquidation.Discuss the type of liquidation that was called for each. Were liabilities a major contributing factor thatled to their downfall?...

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    In this following assignment, we are going to discuss about three companies who faced the problem of liquidation in past few years. These companies went into liquidation as they became incapable of paying their liabilities and other dues on time. Further, in this assignment we will be discussing about the facts that has led to the liquidation of the companies. Apart for this, we will evaluate the role of governance, ethics and other contributors in the liquidation of the companies.

    This report aimed to develop a critical understating of the various accounting software by evaluating the cloud-based accounting software in regards to businesses and then suggest the most appropriate accounting software to a chosen company such as Woolworth. The findings of the current report reflected that the company has key activities like manage, organize, maintain its store staff, develop various strategies for the business, billing for their products, maintain their transactions, and records them and handle their conflicts, etc. Similarly, its other activities related to revenue and expenditure cycle also includes sales and purchase related practices. Moreover, some internal controls are found weak in Woolworth due to which company has risks like segregation of duties, major frauds, poor corporate governance, improper monitoring of managerial opportunistic behavior.

    This report aimed to develop a critical understating of the various accounting software by evaluating the cloud-based accounting software in regards to businesses and then suggest the most appropriate accounting software to a chosen company such as Woolworth. The findings of the current report reflected that the company has key activities like manage, organize, maintain its store staff, develop various strategies for the business, billing for their products, maintain their transactions, and records them and handle their conflicts, etc. Similarly, its other activities related to revenue and expenditure cycle also includes sales and purchase related practices. Moreover, some internal controls are found weak in Woolworth due to which company has risks like segregation of duties, major frauds, poor corporate governance, improper monitoring of managerial opportunistic behavior.

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