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    Taxation law Assignment of identify the facts available, identify the taxation issues arising, research the relevant law, apply the law to the facts identified and form an opinion.

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    The purpose of the assignment is to assess a student’s ability to: 1. identify the facts available; 2. identify the taxation issues arising; 3. research the relevant law; 4. apply the law to the facts identified; and 5. form an opinion. REQUIRED Taking the above Learning Outcomes into consideration, your assignment is to prepare a written opinion addressed to your client, Water-Jet Ferries. It should be no longer than 1,000 words. SCHOOL POLICIES You should refer to the Subject Outline and carefully note the School’s policies in regard to the following ma...

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    In the given case, Water Jet Ferries provides truck ferry services to the larger islands off the coast using vessels which are propelled by the water-jets that are powered by the diesel engines. However, due to the increased cost of fuel in the market, the profitability of the company is getting affected and thus water jet has decided to make some repairs to the existing engines, due to which it will minimise the consumption of fuel at large. Also, such repairs would result into production of increased power permitting the vessels to travel at the higher speeds and so it enables more services to be provided. All these expenditures incurred for the repairs of old engines were charged to revenue, thereby claiming a tax deduction on cost incurred.

    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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