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Task Instruction: In this scenario you need to demonstrate an understanding of the applicable legal...

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Accounting

Task Instruction:

In this scenario you need to demonstrate an understanding of the applicable legal principles, be able to analyse them and apply them effectively. You will again advise Yin and Yang on their developing business, and the impact that staffing, superannuation and other issues will have on their development.

You are also required to address and effectively answer the questions below the case study, using the correct legal principles for analysis, with case and reference backup.

Scenario:

Yin and Yangs business has increased substantially and is very successful. They have come to you to ask what the next stage is for their development, taking into account that they now have a staff of 50 and export internationally.

You, as their accountant, need to give them advice on possible changes to their business structure, the risks and impacts of putting a trust structure behind the business, superannuation and legislation, which affects their staff and advise/remind them of their ASIC responsibilities and how they may change, depending on the size of the business. You will also need to recommend to them that, if they decide to use a trust structure, a solicitor must be consulted and advise also.

REQUIRED: EXPLAIN COMPLETELY

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