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In: AccountingThe Directors of Brisbane Ltd (a listed company) have come toyour accounting firm to seek...The Directors of Brisbane Ltd (a listed company) have come toyour accounting firm to seek advice on how to account for theinvestments they have in the five (5) entities-- Canberra Ltd,Sydney Ltd, Melbourne Ltd, Adelaide Ltd and Perth Ltd. All sharesissued by each of the entities are ordinary shares with normalvoting rights. All key facts as known to the company are providedbelow:Canberra LtdBrisbane Ltd owns 45% of the issued capital.The remaining shares are owned by a diverse group of investorswho each hold a small parcel of shares, many of whom are unlikelyto attend meetings.The current board of directors of Canberra Ltd has sevenmembers.Six directors on the board of Canberra Ltd are appointed byBrisbane Ltd.Sydney LtdBrisbane Ltd owns 90% of the issued capital.The remaining shares are owned equally between twoshareholders.Melbourne LtdBrisbane Ltd owns 40% of the issued capital.Three institutional investors equally hold 50% of the issuedcapital. These shareholders regularly attend meetings and vote.The remaining 10% of the issued capital are owned by ageographically diverse group of investors who each hold a smallparcel of shares, many of whom are unlikely to attend meetings.Adelaide LtdBrisbane Ltd owns 35% of the issued capital.Sydney Ltd owns 25% of the issued capital.The remaining shares are owned by a small group of investors whoeach own 10% of the issued shares.Brisbane Ltd and Sydney Ltd each have two appointees on theboard of directors which has five members.Perth LtdBrisbane Ltd owns 25% of the issued capital.The remaining shares are owned by three institutional investorswho each own 25% of the issued capital.All investors have rights to the net assets of Perth Ltd. Theytake a keen interest in the running of the company and attend allmeetings.The shareholders of Perth Ltd have a contractual agreementwhereby each investor cannot make any operating, investing orfinancing decisions without the expressed consent of the otherparties.Given the information above, the directors of Brisbane Ltd wouldparticularly like to know:the type of investment for each entity (i.e. you need to clearlyidentify the investor-investee relationship) including asummary of the identifying criteria and anapplication of this criterion;the accounting method to be adopted for thistype of investment[1]; andwhich entities, if any, would form part of the BrisbaneLtd Group.[1] Note: You are not required to explain how to apply theaccounting method in detail, but rather simply identify (state) theaccounting method. You must cite the specific provisions includingparagraph from the relevant AASB using one of the following twoexamples for in-text referencing in your presentation slides: AASB102:11 or AASB 102 para. 11.