The recent collapse of banks and financial institutions in

The recent collapse of banks and financial institutions in Ghana is an indication that companies and institutions are not complying with the statutory provisions and requirements. While some have called for the persons behind the collapse of these institutions to be held liable and therefore face trial either criminal or civil or both, others are of the opinion that the Regulatory institutions and ultimately government should be blamed for this series of unfortunate events. Examine the instances under which there should be a lifting of the corporate veil using some of the banks and financial institutions as a case study and drawing from the report of the Regulatory agencies that dealt with this matter.

Louise Wuitton (LW) is a New Zealand-based fashion label

Louise Wuitton (LW) is a New Zealand-based fashion label which specializes in creating luxury garments for both men and women. LW sources fabrics and other items for their garments locally, and the garments are made in a workroom in Auckland by a team of tailors and seamstresses who are paid at least the standard living wage of $22.10 per hour, depending on their experience LW commenced operations in 2015, and since then, the company has gained a strong reputation in the marketplace for producing high-quality, fashion-forward clothing at a reasonable price. They have also been recognized as one of New Zealand’s top employers, based on their policies around safe working conditions, employee well-being, and above average hourly wages. Their strong reputation has contributed to growing revenue since 2015, and in the last financial year, the company reported its best ever earnings performance. In the last 18 months, a number of overseas competitors have entered the New Zealand marketplace. These competitors are able to produce similar clothing designs to LW at a much lower cost, given the differences in the cost of labor and materials in the overseas factories. Additionally, the impact of COVID-19 has resulted in lower than anticipated revenue for LW for the first half of the 2020 financial year, and the senior management team anticipates that the situation is likely to deteriorate further unless the company can find a way to cut their costs of production in order to remain competitive. If cost savings cannot be found, the company risks becoming insolvent in the next two years. The company’s CEO believes that the best option for LW is to outsource the manufacturing of their garments to a third-party company located in Bangladesh. This would drastically reduce the costs associated with production, as the standard wages paid in the garment industry in Bangladesh are much lower than those paid by LW in New Zealand. Additionally, the third- party manufacturer would be able to source cheaper fabrics from which to make the garments. There are differing views among the other members of the senior management team – some ACCY130 Page 3 of 4 agree that this proposal seems like the best course of action for LW. However, other members of the senior management team are concerned that outsourcing production to Bangladesh would harm the company’s brand image and reputation, resulting in further deterioration of the company’s bottom line in the long-term. Among their concerns, they cite the well-known poor working conditions associated with the garment manufacturing industry in Bangladesh, the low wages paid to the workers in the factories there (who tend to be poorer women and girls with no skills or training that would enable them to obtain better employment elsewhere), and the possible negative environmental consequences of producing clothing using cheaper fabrics. 


Use the ethical decision-making framework discussed in lectures to evaluate the ethical dilemma in the above scenario, AND issue a recommendation to the senior management team of Louise Wuitton (LW) based on your evaluationrn

Miller Harrison was still working his way down his attack

Miller Harrison was still working his way down his attack protocol. N map started out as it usually did: giving the program identification and version number. Then it started reporting back on the first host in the SLS network. It reported all of the open ports on this sewer. Then the program moved on to a second host and began reporting back the open ports on that system, too. Once it reached the third host, however, it suddenly stopped. Miller restarted Nmap, using the last host IP as the starting point for the next scan. No response. He opened up another command window and tried to ping the first host he had just port-scanned. No luck. He tried to ping the SL8 firewall. Nothing. He happened to know the IP address for the SLS edge router. He pinged that and got the same result. He had been blackholed—meaning his IP address had been put on a list of addresses from which the SLS edge router would no longer accept packets. This was, ironically, his own doing. The lDPS he had been helping SLS configure seemed to be working just fine at the moment. His attempt to hack the SLS network was shut
down cold.

Do you think Miller is out of options as he pursues his vendetta? If you think there are additional actions he could take in his effort to damage the SL8 network, what are they?

Packit Ltd stores finished products in bulk on behalf of

Packit Ltd stores finished products in bulk on behalf of its customers. When the products are required for sale Packit Ltd packs them in accordance with its customers’ instructions. The company is currently in the process of determining budgeted costs by customer category for the forthcoming financial year.

Packit Ltd categorises its customers according to the relative fragility of their products. It has three customer categories: Robust, Standard and Delicate. As the names suggest, the customers in the Robust category have the most resilient products, the customers in the Delicate category have the most fragile products and the products of the customers in the Standard category fall between those two extremes.

The volume of work performed for each category of customer is measured in terms of cubic metres of product handled. The budgeted volumes by customer category for the forthcoming financial year are as follows:




Budgeted volume of products to be handled




(in cubic metres)

Budgeted packaging costs for the forthcoming financial year in respect of each of the customer categories have been determined as follows: Robust: €990,000, Standard: €1,957,500 and Delicate: €1,875,000.

Other operational costs for the forthcoming period have been budgeted to be as follows:

Labour – basic hours


Labour – overtime hours




Clerical and administration


Activity Based Review

An activity based review of the company’s operations has identified three key activities: Receipt and Inspection, Warehousing and Packing. It has been determined that it would be reasonable to allocate operational costs to these key activities in the following proportions:

Receipt & Inspection



Labour – basic hours




Labour – overtime hours








Clerical and administration




The activity based review has also revealed that the degree of fragility of the products drives the amount of time required for Receipt and Inspections, that the demands on Warehousing are driven by the average floor space required per unit of product held for the customer category and that the time taken for Packing reflects the complexity of customers’ packaging specifications. The requirements per cubic metre of product for each customer type have been assessed to be as follows:




Receipt and Inspection (minutes)




Floor space (square metres)




Packing (minutes)




  • Requirement _

(a) Calculate the budgeted average cost per cubic metre of product stored and packaged for each of the three customer categories, without using the Activity Based information provided.

(b) Using the Activity Based information provided, calculate the budgeted average cost per cubic metre of product stored and packaged for each of the three customer categories. You may round your calculations to two decimal places.

(c) Suggest how activity based costing may improve product costing and control within Packit Ltd.

Company A employs its cleaning staff on a ten-day fortnight,

Company A employs its cleaning staff on a ten-day fortnight, with employees being paid on Fridays. The fortnightly wages expense is $148,000 and employees are paid in arrears. That is, when the employees are paid, the wages paid are for work performed in the preceding fortnight. Company A retains the following amounts out of the employees’ wages on behalf of its employees which it then remits at month end to each of the entities noted: $30,000 per fortnight to pay the Australian Taxation Office for pay-as-you-go (PAYG) tax on behalf of the employees. $2,000 per fortnight to pay staff premiums to Healthy Medical a Medical Benefits Fund. $1,500 to the staff union fees to the Mining Employees Union. In addition to paying its employees’ wages and salaries, Company A also contributes to an employees’ Defined Contribution Superannuation Fund as required by the Superannuation Guarantee Charge which is equal to 9.5% of employees’ gross wages.


If we assume that the balance date falls on a Tuesday, provide the accounting entries at the balance date to recognise the transactions noted above. You must indicate at the end of each general ledger account name if the account is an asset, liability, expense or revenue account.

When Roberto Goizueta became Coke’s CEO in 1981, he took

When Roberto Goizueta became Coke’s CEO in 1981, he took over a poorly performing company that had diversified into unrelated businesses ranging from water purification to shrimp farming. One of his first initiatives was to analyze Coke’s various businesses using economic profit. The analysis concluded that only Coke’s core carbonated beverage business was creating shareholder value. The other businesses. while generating revenue. were actually consuming value. Consequently, they were divested or shut down. Goizueta then focused on Coke’s core beverage business using its substantial competitive advantages: global brand. worldwide distribution system. and sales and marketing expertise. The result was 18 years of success. Similarly, when Bob Lane took over a poorly performing John Deere in August 2000, he quickly identified Deere’s biggest problem: spending too much money to make money. Factories tended to overproduce, leading to a large number of very expensive, large farming machines simply sitting on dealer floors. Lane began looking at economic profit. He decided managers were treating capital as a free resource. He charged each division manager 1 percent each month of the cost of the assets they used and required that at the end of the year their financial results exceed the charges. Deere has done well in the succeeding years.

What is the appropriate measure of a firm’s performance?

1. C and D jointly organized Z corporation. C transfers

1. C and D jointly organized Z corporation. C transfers in property Z in exchange for $500 in cash and 45 shares of Z’s stcok. D transfers $500 in cash to Z in exchange for the other half of Z’s stock (that is, the other 45 shares). Z also issues 5 shares of its stock to lawyer in payment of lawyer’s bill for legal services in organizing Z.

a). This is not a good 351 transaction since property transferors do not have control immediately afterwards. Lawyer has received shares for services.

b). This is not a good 351 transactions because the property transferors do not control 80% of the shares since A only receives 45 shares.

c). This transfer qualifies fro non-recognition under 351

d). None of the above

2. C and D jointly organize Z Corporation. C transfers properties to Z in exchange for $150 cash and half of Z’s stock. D transfers $150 in cash to Z in exchange for the other half of the stock. C’s property consists of two parcels, parcel 1 with a basis of $120 and a value of $240 and parcel 2 with a basis of $90 and a value of $60.

A. Under 351 C has a net gain of $90 on the transfer of the two parcels and must recognize that amount of the gain because of the $150 cash boot.

B. C’s stock basis in its stock received is the basis of $210 plus $150 gain realized minus $150 cash received or $210.

C. C has a gain of $120 on parcel 1 which is recognized and a loss of $30 on parcel 2 which is not recognized.

D. C has a basis of $180 in all of the stock based on a basis of $210 in the property transferred in plus $120 in gain realized less $150 in cash received.

1……… is that which is created by Congress and

1……… is that which is created by Congress and state legislatures. a Judge made b. Executive order c. Statutory d. Equity 2. Local government bodies such as city councils enact rules for businesses known as……. a. statutes b. common law c. judge made law d. ordinances 3. A primary purpose of the law includes ……….. a. provide a system of order c. provide a degree of reliability in applying the rules b. provide a method to resolve disputes d. all are primary purposes of the law. 4. The state of Colorado enacted a law legalizing the recreational use of marijuana.Congress (federal) continues to classify marijuana as a controlled, illegal drug. Who is right

During the current year, Z Corporation accrued income and

During the current year, Z Corporation accrued income and expenses as follows: Gross income from Business $1,000 Dividends on Apple Stock 300 Interest on State Bonds 300 Capital Gain 300 Total 2,400 Deductible Business Expenses 1,290 Non-Capital Expenses, Non-Deductible under 162(e) 270 Capital Losses 438 Total 1,998 Net $ 402 

a. For the calculation of earnings and profits (E&P), the net capital loss is currently deductible. 

b. Accrued corporate tax does not reduce E&P. 

c. The DRD on the Apple dividend at 70% is deducted for E&P purposes. 

d. All of the above 

e. None of the above

1. What is zoning? Discuss a scenario: a. Where WWN

1. What is zoning? Discuss a scenario:

a. Where WWN zoning is preferred over port zoning.

b. Where port zoning is preferred over WWN zoning.

2. Seventeen switches, with 16 ports each, are connected in a mesh topology. How many ports are available for host and storage connectivity if you create a high-availability solution?

3. Explain storage migration using block-level storage virtualization.

4. How does iSCSI handle the process of authentication?

5. Why should an MTU value of at least 2,500 bytes be configured in a bridged iSCSI environment?  

6. Consider the following Scenario: 


•The financial activity of all regional offices of an organization is carried out through an accounting application: –The application generates 15% random writes and 85% random reads –The storage currently has a 5-disk RAID 0 configuration –Each disk has an advertised formatted capacity of 250 GB –The total size of the application’s data is 900 GB, which is unlikely to change over the next six months 

Requirements and challenges: 

•The organization plans to reconfigure storage with fault tolerance 

•The organization cannot afford new disk purchases Deliverables: •Recommend a RAID level for reconfiguring the storage to fulfill the organization’s requirements 

•Justify the choice of RAID level based on cost, performance, and availability

7. Describe switched fabric N-ports, E-ports, F-ports and G-ports.

8. When is unified storage a suitable option for a data center?