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Holmes Institute HI5025 Memo 03 – Semester 01, 2014 Background: In 2010, the Water Accounting Standards Board (WASB), an independent advisory Board to the Australian Bureau of Meteorology, issued The Exposure Draft of Australian Water Accounting Standard 1: Preparation and Presentation of General Purpose Water Accounting Reports (ED AWAS 1) and asked for comments from accounting practitioners, industry, and/or industry peak bodies. There is great concern that proposals in the ED AWAS 1 will significantly affect how major users of water resources report their water usage and may result in the need to result in new types of assets, liabilities, and expenses. Required: 1) Go to download the WASB ED AWAS 1, 2) Read the downloaded document, and 3) Working from the premise that you are a consultant who has been asked by the President of an Australian Brewery (Mountain Goat Beer Pty Ltd, Corner North & Clark Streets, Richmond Victoria 3121) to read the above report and to write a short memo (1-1.5 pages long) listing and discussing any issues that it raises that could significantly affect the Micro-brewery and its financial reporting. This is to be answered in your groups of 3-6 students, where each group will submit one report with the names and student numbers of all group members in the heading. The assignment is due 28 May/14, in class. The marking rubric that will guide the marking is posted to the assignment section of the HI5025 Blackboard site. Holmes Institute HI5025 Memo 03 – Semester 01, 2014 Background: In 2010, the Water Accounting Standards Board (WASB), an independent advisory Board to the Australian Bureau of Meteorology, issued The Exposure Draft of Australian Water Accounting Standard 1: Preparation and Presentation of General Purpose Water Accounting Reports (ED AWAS 1) and asked for comments from accounting practitioners, industry, and/or industry peak bodies. There is great concern that proposals in the ED AWAS 1 will significantly affect how major users of water resources report their water usage and may result in the need to result in new types of assets, liabilities, and expenses. Required: 1) Go to http://www.bom.gov.au/water/standards/documents/ed_awas1_v1.0.pdf and download the WASB ED AWAS 1, 2) Read the downloaded document, and 3) Working from the premise that you are a consultant who has been asked by the President of an Australian Brewery (Mountain Goat Beer Pty Ltd, Corner North & Clark Streets, Richmond Victoria 3121) to read the above report and to write a short memo (1-1.5 pages long) listing and discussing any issues that it raises that could significantly affect the Micro-brewery and its financial reporting. This is to be answered in your groups of 3-6 students, where each group will submit one report with the names and student numbers of all group members in the heading. The assignment is due 28 May/14, in class. The marking rubric that will guide the marking is posted to the assignment section of the HI5025 Blackboard site.

Holmes Institute HI5025 Memo 03 – Semester 01, 2014 Background:

In 2010, the Water Accounting Standards Board (WASB), an independent advisory Board to the Australian Bureau of Meteorology, issued The Exposure Draft of Australian Water Accounting Standard 1: Preparation and Presentation of General Purpose Water Accounting Reports (ED AWAS 1) and asked for comments from accounting practitioners, industry, and/or industry peak bodies.

There is great concern that proposals in the ED AWAS 1 will significantly affect how major users of water resources report their water usage and may result in the need to result in new types of assets, liabilities, and expenses.

Required:

  1. 1)  Go to
    download the WASB ED AWAS 1,
  2. 2)  Read the downloaded document, and
  3. 3)  Working from the premise that you are a consultant who has been asked by the President of an Australian Brewery (Mountain Goat Beer Pty Ltd, Corner North & Clark Streets, Richmond Victoria 3121) to read the above report and to write a short memo (1-1.5 pages long) listing and discussing any issues that it raises that could significantly affect the Micro-brewery and its financial reporting.

This is to be answered in your groups of 3-6 students, where each group will submit one report with the names and student numbers of all group members in the heading. The assignment is due 28 May/14, in class.

The marking rubric that will guide the marking is posted to the assignment section of the HI5025 Blackboard site.

Holmes Institute HI5025 Memo 03 – Semester 01, 2014 Background:

In 2010, the Water Accounting Standards Board (WASB), an independent advisory Board to the Australian Bureau of Meteorology, issued The Exposure Draft of Australian Water Accounting Standard 1: Preparation and Presentation of General Purpose Water Accounting Reports (ED AWAS 1) and asked for comments from accounting practitioners, industry, and/or industry peak bodies.

There is great concern that proposals in the ED AWAS 1 will significantly affect how major users of water resources report their water usage and may result in the need to result in new types of assets, liabilities, and expenses.

Required:

1)  Go to http://www.bom.gov.au/water/standards/documents/ed_awas1_v1.0.pdf

and

  1. download the WASB ED AWAS 1,
  2. 2)  Read the downloaded document, and
  3. 3)  Working from the premise that you are a consultant who has been asked by the President of an Australian Brewery (Mountain Goat Beer Pty Ltd, Corner North & Clark Streets, Richmond Victoria 3121) to read the above report and to write a short memo (1-1.5 pages long) listing and discussing any issues that it raises that could significantly affect the Micro-brewery and its financial reporting.

This is to be answered in your groups of 3-6 students, where each group will submit one report with the names and student numbers of all group members in the heading. The assignment is due 28 May/14, in class.

The marking rubric that will guide the marking is posted to the assignment section of the HI5025 Blackboard site.

 

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