On 3 June 2022, SFX Ltd supplied a smoke machine for a concert. At… On 3 June 2022, SFX Ltd supplied a smoke machine for a concert. At the concert, the

On 3 June 2022, SFX Ltd supplied a smoke machine for a concert. At… On 3 June 2022, SFX Ltd supplied a smoke machine for a concert. At the concert, the smoke machine exploded and a number of members of the audience were injured (i.e. suffered burns). On 4 July 2022 SFX Ltd was advised that it is being sued for damages of $120,000 in total. An investigation into the explosion has revealed that the explosion was due to a musician during the concert emptying a bottle of alcohol into the smoke machine. The smoke machines supplied by SFX Ltd have clear labels advising that the machine must not come in contact with any liquids. Further, a cover that SFX Ltd supplied with the smoke machine was removed by the customer. This cover could have prevented an explosion. Legal advice has indicated that there is only a 15% probability that SFX Ltd will be found liable and will be required to pay the damages claimed. This case is expected to be decided in court in September 2022.REQUIREDExplain, whether and how the above events should be recognised and/or disclosed in the financial statements and notes for the year ended 30 June 2022. You need to justify your answer with reference to the applicable accounting standard(s) (provided in Appendix B) and give reasons for your answer Accounting Business Financial Accounting ACCTING 3601 Share QuestionEmailCopy link Comments (0)

Writing an essay outline is an important step in the writing process. An outline helps you organize your thoughts and ideas, and it makes it easier to write a well-structured essay. Here are the steps to help you write an essay outline like writers do:

Choose a topic: The first step in writing an essay outline is to choose a topic for your essay. It’s important to choose a topic that you are interested in and one that you have enough information on.

Brainstorm ideas: Once you have a topic, brainstorm ideas and jot down notes on what you want to write about. Think about your thesis statement, main points, and supporting evidence.

Create a thesis statement: Your thesis statement is the main point of your essay. It should be clear and concise, and it should express the main idea that you want to convey in your essay.

Organize your main points: Organize your main points into a logical order. Each main point should be a topic sentence that supports your thesis statement. Use bullet points or numbers to organize your main points.

Gather supporting evidence: Gather supporting evidence for each of your main points. This may include facts, statistics, or examples.

Write an introduction: In the introduction, introduce your topic and provide some background information on it. End the introduction with your thesis statement.

Write the body paragraphs: The body paragraphs should each focus on a specific main point. Start each paragraph with a topic sentence that relates to your thesis statement. Provide evidence to support your main point and use examples and personal experience to illustrate your points.

Write a conclusion: In the conclusion, summarize your main points and restate your thesis statement. Provide a final thought or call to action.

Edit and revise: Once you have completed your essay outline, take some time to edit and revise it. Check for grammar and spelling errors, and make sure your ideas flow logically.

Remember, an essay outline is a roadmap for your essay. It helps you organize your thoughts and ideas, and it makes it easier to write a well-structured essay. With these steps, you can write an essay outline like writers do.

On 3 June 2022, SFX Ltd supplied a smoke machine for a concert. At…          On 3 June 2022, SFX Ltd supplied a smoke machine for a concert. At the concert, the smoke machine exploded and a number of members of the audience were injured (i.e. suffered burns). On 4 July 2022 SFX Ltd was advised that it is being sued for damages of $120,000 in total. An investigation into the explosion has revealed that the explosion was due to a musician during the concert emptying a bottle of alcohol into the smoke machine. The smoke machines supplied by SFX Ltd have clear labels advising that the machine must not come in contact with any liquids. Further, a cover that SFX Ltd supplied with the smoke machine was removed by the customer. This cover could have prevented an explosion. Legal advice has indicated that there is only a 15% probability that SFX Ltd will be found liable and will be required to pay the damages claimed. This case is expected to be decided in court in September 2022.REQUIREDExplain, whether and how the above events should be recognised and/or disclosed in the financial statements and notes for the year ended 30 June 2022. You need to justify your answer with reference to the applicable accounting standard(s) (provided in Appendix B) and give reasons for your answer                                                            Accounting                                                Business                                                Financial Accounting                            ACCTING 3601                                                                      Share QuestionEmailCopy link                              Comments (0)

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