Real to Reel is a retailer. A company symbolwas devolved by a consultant at a cost of $154,000. How should this transaction be recorded and reported?

occupancy relationship is a system for providing quantitative, fiscal information nigh frugal entities that is useful for making sound stinting decisions. Accounting is oft called the language of backing because it provides the means of playscripting and communicating business activities and the results of those activities. (Albrecht, WS, Stice, JD, Stice, EK & Swain, MR 2005) The way that this is done is governed by the Regulatory and analysis Framework for Accountancy in Australia. The Regulatory framework consists of the rules, guidelines and rule law that govern the preparation and presentation of General theatrical role pecuniary Reports in Australia. The Conceptual Framework is described by Kloot, LS, Sandercock, EK, Meigs, RF & Meigs, WB (2002) as a coherent consistency of accounting theory or a repose of co-ordinated concepts with a purpose to define the nature, scope and purpose of financial accounting and reporting. In this instance it concerns how the company visualize for Real to Reel should be eternizeed. The accountant must record the action in line with the guidelines set out by the framework. The aim of this essay is to comp are the ways that the purchase of a logotype may be recorded by a firm, and why they are correct. The correct method of recording this traffic will be examined.

The transaction of Real To Reels company logo that was developed by a consultant at a cost of $154,000 is an irregular transaction that may typically be difficult to place as to where it may be recorded. several(prenominal) options uncommitted may perhaps be an Intangible asset , write heap or otherwise. The correct opt! ion will be examined organize up on. This transaction could be recorded as either an asset, which are defined by Kloot, LS et al (2002) as approaching economic benefits controlled by the entity as a result of ago transactions or other... If you want to get a liberal essay, array it on our website: OrderCustomPaper.com

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