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Key concepts
1. What drives shareholder value
Before going any further let’s consider a model of the business value
creation for a firm.
Figure 1: The firm and its environment – a model of business value creation
Reading
Bazley and Hancock Chapter 1. p.1-27.
Reading
Bazley and Hancock Chapter 2. p.29-36.
Reading
Bazley and Hancock Chapter 2. p.37-71.
Essential readings
Selected sections from the designated chapters in Bazley and Hancock,
Contemporary Accounting 9th Edition
Optional readings
B Trotman K and Gibbins M, 2009, Financial Accounting: An Integrated
Approach, 4th Edition
1. During the year ended 30 June 2009, French Horn Ltd made cash sales
of $100,000, credit sales of $200,000 ($50,000 of which were still to
be collected at year-end), and received $25,000 owing from credit
sales, which occurred in May 2008. What is French Horn’s sales
revenue for the year ended 30 June 2009?
2. Also during the year ended 30 June 2009, French Horn paid $60,000
and owed $10,000 in employee wages. Of the $60,000 paid, $5,000
related to wages payable as at 30 June 2008. What is the total of
French Horn’s accrual accounting expenses?
3. What is French Horn’s accrual accounting profit for the year ended 30
June 2009?