PART A (20 marks) (1,500 words)
Manic Pty Ltd (“Manic”) is an Australian resident company that leases and sells
scaffolding and charges service fees to customers in Australia and New Zealand.
Annual turnover for Manic for the last 5 years has ranged between $4 million and
Manic is in the process of finalising its income tax return for the year ended 30 June
2018 and you have been asked to review the following notes to the profit and loss:
1. An amount of $80,000, received in the form of service fees, was not included
in accounting profit in the year ended 30 June 2018 as it was believed the client
still had a right to demand a refund from Manic should the service not be
2. Interest of $10,000 had accrued but had not yet been debited to Manic’s bank
account as at 30 June 2018. No amount had been recognised in accounting
3. Trading stock to the value of $50,000 was purchased from a Hong Kong based
supplier and remained on a ship in the Pacific Ocean as at 30 June 2018. Manic
had not yet received the bill of lading but had claimed the expense of $50,000
in cost of trading stock in accounting expense.
4. A provision for doubtful debts of $30,000 was expensed during the year. As at
30 June 2018 the Managing Director could not decide whether to write off any
debts as bad.
5. Manic engaged the services of a company to research the viability of Manic
entering into a new market. Currently Manic leases and sells scaffolding but
is considering investing in the business of supply and installation of cement
blocks. Manic paid the research company $25,000 for their report.
6. On 1 June 2018 the warehouse was flooded due to a leaking ceiling. Manic
decided to replace the metal roof with tiles. The tiles cost $50,000 whilst it
would have cost $30,000 for a new metal roof. An expense $50,000 was claimed
in calculating accounting profit.
7. Manic borrowed $1.5 million to fund the purchase of a new factory in 2017
(cost $1.5 million plus costs of acquisition $28,000) that it planned to use for a
new business venture. The business venture did not go ahead yet interest on
the loan totalled $10,300 for 30 June 2018 and was treated as an accounting
expense. The factory was sold for $2,100,000 on 30 June 2018 and costs of
disposal totalled $36,000. The net amount included accounting profit was
$536,000 ($2,100,000 – ($1,500,000 + 28,000 + 36,000).
8. Manic sold 100,000 shares in Franks Pty Ltd to an unrelated company on 1
April 2018 for $3.50 per share. The shares were originally acquired by Manic
on 2 June 2009 for $2.20 per share from a wholly owned subsidiary of Manic,
whilst the shares had been independently valued at $1.50 a share on that day.
The net amount included in accounting profit was $130,000 ($350,000 –
9. The 2017 income tax workpapers indicate that Manic has carry-forward
capital losses in accordance with the CGT provisions of the ITAA 1997 of
10. Depreciation expense totals $120,000 however the depreciation deductible in
accordance with the ITAA 1997 is $112,000 for 30 June 2018.
11. Entertainment expense totals $65,000 including $32,500 relating to employees
on which Fringe Benefits Tax has been paid. The balance relates to client
12. Included in expenses is an amount paid by Manic to prevent a former
Marketing Manager setting up a similar business in the next 5 years ie a
restrictive covenant. Manic paid $54,000 for this restrictive covenant on 1
April 2018 that would operate for the 5 year period.
a) Prepare a memo to Manic’s Chief Financial Officer (CFO) explaining the
income tax treatment with respect to each of the above items including
references to sections, cases and income tax rulings where relevant.
b) Calculate Manic’s taxable income and income tax payable for 30 June 2018
assuming the net accounting profit before taxes is $620,500 and adjusting for
differences between accounting and tax. You are to use the attached excel
spreadsheet to complete your tax reconciliation/calculate tax payable. Manic
paid company tax instalments (PAYG payments) for the year ended 30 June
2018 totalling $102,500
PART B (5 marks) (500 words)
Whilst company decision makers have an obligation to maximise profit, ethical principles
and reputational risk places pressure on tax decision makers to consider a variety of
stakeholders including the community at large. The debate and commentary on company
tax contributions in Australia has been extremely negative and media and lobby groups
report on the tax compliance behaviour of high profile large companies that pay very
little or no tax in the country in which they have a substantial presence. Increasingly
corporate social responsibility and sustainability considerations impose a broader ethical
obligation on company decision makers. What is an acceptable ethical position at any
point in time reflects society’s expectations (Doyle, Hughes and Glaister, 2008) and
increasingly society expects a company to contribute an ‘appropriate’ amount to the tax
revenue in countries where they have a presence.
Discuss whether an accountant should, in providing advice, incorporate an ethical
perspective to that advice or instead focus purely on compliance with the tax laws as
interpreted by the courts. In your discussion you may refer to materials available on
ilearn, in the section for this case study, and any other materials that you consider
Conceptual. College English multi-modular showing model is an imperative pattern in school English educating change. With the advancement of mixed media innovation, multi-modular showing PPT introduction can give understudies an assortment of methods of subjective incitement in the classroom. By showing illustrations trial classes and control classes, ponder the connection between school English multi-modular educating and understudy learning execution between. Exploratory outcomes demonstrate that multi-modular showing model fits in with the advancement pattern of school English educating, to keep up understudies' enthusiasm for learning English, enhance their English capability and effectiveness of memory are connected. Instructors ought to use multi-modular instructing techniques to rouse understudies to an assortment of methods of collaboration, multi-modular understudies perusing capacity. Multi-modular showing model has changed the conventional classroom showing English written work primarily to reading material as the fundamental showing content educating. Writing in College English instructing, educators take full preferred standpoint of current media, with pictures, video and different methods of physical movement, the levelheaded association of showing substance and understudies are urged to write in after-school preparing and self-learning multi-modular under. Practice has demonstrated that this instructing model to improve the school English classroom educating additionally has a solid down to earth essentialness. Presentation With globalization, the present classroom instructing can't meet the advancement needs of understudies instructors need to effectively build up the way to obtain new learning and data, access to all the more learning assets. Current science and innovation and the improvement of multi-modular hypothesis, there are numerous new introduction of learning assets and data, for example, the development of internet instructing and learning stage, multi-modular learning courseware advancement will be converted into new showing techniques, additionally will be the new showing mode, educating and learning strategies in remote dialect educating is getting to be conceivable, thusly, outside dialect educating in multi-modular turn into a need. Along these lines, not just educators can exploit new instructive advances to enhance showing adequacy, understudies can likewise exploit current science and innovation to look for new data assets, media stage for free learning and imaginative practice. Multi-modular in outside dialect learning in the field of use, with the goal that students by tolerating the data discernment, comprehension, encoding and capacity, the subsequent information data and information put away polyethylene while giving insurance to the oblivious and cognizant dialect yield, along these lines make dialect taking in the development of a highminded circle. Nonetheless, in the multi-modular and data age, particularly in the period of information blast, classroom instructing alone can't address the issues of understudies information and abilities, critical need to create self-learning and multi-modular system learning, educators ought to figure out how to new age guide or guide understudy learning. Multimodal Discourse hypothesis developed in the 1990s, Western nations, Western specialists in basic talk investigation, in view of the examination consequences of social semiotics, useful punctuation framework and the conventional talk investigation and different fields advanced. Concentrate abroad from the perspective, R.Barthes is the primary multi-modular talk examination language specialist, real parts of the relationship from the declaration of pictures and words to investigate the criticalness of talk investigation. In the innovative and PC arrange well known today, showing strategies ought to likewise be with the circumstances. School English classes keeping in mind the end goal to educate an exuberant, with a specific end goal to pull to understudies' advantage and consideration, instructors need an extensive variety of showing techniques and aptitudes, and to make such a broad gathering of pictures, video, movement and other data, outline the new frame the PPT, and adaptable joining of multi-modular instructing strategies to move understudies to an assortment of methods of cooperation, multimodal understudies perusing capacity. Figure.1 Multimodal Teaching The Proposed Methodology Multi-modular showing concepts.Humans through the five faculties to see the limitlessness of the world, the view of these five channels created five correspondence modes: visual modular, modular sound-related, material mode, smell and taste modular. The alleged "modular" alludes to the human tangible channel through connection with the outside condition, including the utilization of dialect, pictures, sounds, developments and different means and representative assets. At least two single mode constitute multi-modular, for example, customary content is single-mode, film, TV with pictures, diagrams books, magazines, daily papers and different materials contrasted and multi-modular, and additionally sound on your PC, video, and subtitles are multimodal writings. Along these lines, we can state that every methodology are emblematic assets, together, constitute the general importance. For instance, mutts feeling of smell through modular see the world; basically through the visual methodology hard of hearing to speak with individuals; dazzle tuning in to music, perusing Braille depend on sound-related and material methodology; youngsters and unskilled essentially through sound-related and visual methodology take in their first language and some more. We encounter the world from an assortment of channels and we additionally will be the mix of an assortment of tangible coordination. Multi-modular instructing has a place with the extent of multi-modular talk amongst educators and understudies to convey in five unique methods of correspondence and representative assets. The part of multi-modular PPT.With the far reaching utilization of media classrooms in colleges, multi-modular introduction of the PPT can excite understudies' enthusiasm for taking in goals from an assortment of tactile and representative assets, different modular data Courseware content, picture, sound, video, and so on bearer conveying a lot of content, augmentations rich data on all parts of the field of vision, additional curricular learning, amass exercises, and so on., and its hypertext, hyperlinks highlight can completely activate the understudies' different faculties, urge understudies to extend considering, to develop the impression and reinforce memory the objective of. Fantastic multi-modular PPT data ought not be excessively, there must be center and trouble, understudies' reasoning to leave space for discourse. Courseware to shape straightforward, exquisite, not very extravagant, in light of the fact that a lot of accentuation on the outside frame yet will decrease understudies' content substance and significance of the note, which negatively affect dialect procurement. Multi-modular showing PPT introduction slide demonstrate mode isn't just, however the technique for showing courseware and educator and understudy learning attributes consolidate to pull in understudies' enthusiasm for learning, and at last enhance understudy accomplishment. Multimodal Discourse residential research has recently started, for multi-modular showing research less. I had a go at instructing the accompanying cases investigate diverse modalities in showing parts and the connection between them, watch the pertinent multi-modular educating and understudy learning, and in addition multi-modular instructing to upgrade understudies' memory Have an encouraging part. Multi-modular theory.In remote multi-modular hypothesis it has now been broadly utilized as a part of dialect instructing, and bit by bit shaped a one of a kind hypothetical framework and research strategies. Multimodal alludes to humanity through the faculties (locate, hearing, touch, and so on.) connect with the outside condition (individuals, machines, objects, and so on.) between. In the data age and these diverse methods of generation assumes a similar part in the level of importance. Multi-modular hypothesis and remote dialect educating are firmly connected. From one viewpoint, outside dialect instructing change to advance the multi-modular hypothesis in remote dialect educating practice. Then again, multi-modular hypothesis, thus, to the advancement of remote dialect showing change gave an opportunity. Along these lines, the presentation of writing in English classroom showing multi-modular showing techniques, for instructors and understudies before class, amid, and after the trade, learning give multi-faceted correspondence stage, free of time, space and remove and different components requirements, nearer through content, pictures, sound, video and other system assets the separation amongst educators and understudies, their correspondence is unrestricted, between understudies can likewise investigate the advantages and disadvantages of the way toward instructing and taking in understanding from each other, to build the written work course enthusiasm for the showing procedure can be controlled in culminate arrange, flipped classroom completely open, simple to accomplish the built up showing designs and showing objective setting, to accomplish great educating comes about. Self-governing Learning Ability.Writing is an imperative piece of dialect instructing and learning, regardless of whether Chinese or English, educating of composing have turned into a vital piece of dialect instructing, enhance composing aptitudes for their future application in the dialect class related work or occupied with related research is especially essential in the genuine dialect educating and learning process, composing has dependably been a trouble. Researchers trust that understudy need appropriate preparing and learning direction framework bringing about numerous understudies' written work aptitudes are moderately low. Multi-modular showing model, instructors from numerous points of view photographs, recordings and physical exercises to fortify students' faculties and make situations, make full utilization of Internet and other current media to manage the classroom environment, upgrade classroom impact to activate understudies' intellectual detects, for instance, educators in the classroom composing multi-modular data is introduced to the significant pictures, content, sound and other jolts, adaptability and control over the legitimacy of lear>GET ANSWER