Mr. Howe, a Junior Partner of the CPA firm Dewey, Cheatem, & Howe (DCH), is very excited about the opportunities created by fair-value revaluation of non-current assets. He believes that there is an enormous opportunity for large firms to increase their book profits via the gains from such revaluations.
Required:
Mr. Tu Dewie has asked you to review the AASB rules on the fair-market revaluation of non-current assets and to assess what profit enhancing opportunities may arise because of those rules.
NB: please remember that while Mr. Dewey is the senior partner of DCH, Mr. Howe (as a junior partner) can hurt you if you are not polite and considerate.
Context Line (15 marks):One to two sentences that should provide a clear and concise statement of the issues and consequences (i.e. why the reader should read the memo).
Action Line (25 Marks):One to three sentences that is like a conclusion but should provide An excellent clear concise statement of how to resolve the issues (i.e. what do you, as the crafter/s of the Memo want the reader to do).
Rest of the Memo (25 Marks):Supports the action line. Ideally, it should provide excellent insight plus strong, clear, and concise support for the action line and that support must be clearly tied to the action line.
The marking Rubric: is given on Blackboard in the assignment section and was based on the following criteria:
The purpose of the assessment task is to develop and assess studentsÂ’ logic, communication, and writing skills. Accordingly, marks are not awarded directly for content but are based on the following attributes:
1. Conciseness,
2. Coverage of the material, and
3. Value to the reader in making a decision.