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    Corporate Accounting and discuss the trial balance for Commotion Ltd as at 30 June 2012.

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    Additional information: Included in auditor remuneration is $6,000 in fees for various management consulting services. The gain on sale of plant and equipment amounted to $10,000. The carrying amount of the item sold was $77,000 Directors have declared a final dividend of 5 cents per share) at 30 June 2012 On 30 June 2012 the company revised the useful life of one of its plant and equipment assets from 5 years to 3 years. The asset had been purchased on 1 July 2011 at a cost of $75,000 All assets other than accounts receivable, cash on hand and inventories are non-current. All li...

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    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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