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What is a formal organisational environmental policy? What mightbe covered by or included in an organisation’s environmentalpolicies and procedures? List at least five issues and discuss in120–150 words.(In Australian Accounting Environment) (please typeup your answer)

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Sixta Kovacek
Sixta KovacekLv2
28 Sep 2019

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This question relates to material covered in Topic 1particularly the Australian taxation system and the dividendimputation credits. This question addresses the 1st, 2nd, 3rd and4th subject learning outcomes. Students are expected to conducttheir own research and develop their own opinions about the meritsof this topic. There is no single correct answer and students willbe marked on the depth of their research, the quality of theirarguments (for and against), and their demonstrated understandingof the issues involved in this complex area of financial policy.Write an essay of between 600 and 1,000 words discussing thefollowing topic. The Australian federal government and businessrepresentative bodies argue that the Australian corporate tax rateis too high and makes Australia uncompetitive with competingeconomies. The government has plans to eventually lower theAustralian corporate tax rate to 25%. The government believes thatthis will improve the economy and ultimately taxpayers bystimulating business investment and creating jobs. Internationally,many countries are lowering their corporate tax rates including,most recently, Donald Trump’s United States. Does Australia’scurrent level of corporate taxation make the country economicallyuncompetitive? Start by reviewing The Conversation article FactCheck: Is Australia’s corporate tax rate not competitive with therest of the region?”(https://theconversation.com/factcheck-is-australias-corporate-tax-rate-not-competitive-with-the-rest-of-the-region-37226).Do you believe that lowering the Australian corporate tax rate isgood policy? Discuss this issue and give particular considerationto the Australian dividend imputation system and how the Australiancorporate tax rate impacts on Australian taxpayers. There are adivergence of views and resources available for students to access.There are many items in the mainstream online media which canvasthe Government’s view and also that of those opposing. Studentsshould access resources from government, industry, and not forprofit community groups such as Get Up! as well as the broaderprint and electronic media. Remember, there is no correct answerand individual students will be assessed on their demonstratedunderstanding of the issues and the depth and quality of theirindividual research.

Question 2) - (5 marks) After two years of developing a prototype collaborative hub and at the beginning of the financial year, Large Mart intends to sell the device to its commercial customers directly through its Albury store. However, on the day the devices go on sale, Large Mart receives an offer from the Australian Military to purchase 100 collaborative hubs for $500,000. Large Mart accepts the offer and manufactures the 100 collaborative hubs at a production cost of $3,000 per collaborative hub. (IMPORTANT NOTE: the cost of $3,000 per collaborative hub does NOT include any research or development expenditure!). On the day the collaborative hubs are delivered to the Australian Military, Large Mart receives the $500,000 payment for the collaborative hubs. However, the Large Mart accounting department is unsure how to calculate the Cost of Goods Sold for this sales transaction.

Question 2a) Explain how Large Mart will need to calculate the Cost of Goods Sold for the sale of the collaborative hubs to the Australian Military (IMPORTANT NOTE: You do NOT need to show the calculations for the Cost of Goods Sold!)

The Australian Military is also considering purchasing all rights to the manufacture of the collaborative hub that was developed by Large Mart as a matter of national security and for its own exclusive use.

Question 2b) Explain how the Large Mart accounting department would have to record such a sale of all rights to the manufacture of the collaborative hub to the Australian Military and highlight any differences (if any exist) between this sale of all rights to the manufacture of the collaborative hub and the sale of 100 individual collaborative hubs to the Australian Military. (IMPORTANT NOTE: you do NOT need to show any journal entries or calculations in your answer to this question)

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