LAW513 Corporate Law: Common Used Business Structures In Australia Assessment 1 Answer

LAW513 CORPORATE LAW

ASSIGNMENT 1 - WRITTEN MINI-RESEARCH ESSAY

UNIVERSITY PLAGIARISM POLICY

Plagiarism is the unacknowledged use of material written or produced by others or a rework of your own material. All sources of information and ideas used in assignments must be referenced. This applies whether the information is from a book, journal article, the internet, or a previous essay you wrote or the assignment of a friend.

EXTENSIONS AND LATE LODGEMENTS

Extensions

An Application for Assignment Extension or Special Consideration should be completed and provided to the Dean, College of Business and Law.

Please note that it is now College policy that all extension requests must be approved by the Dean. The lecturer is not able to personally approve extension requests.

Leaving a request for an extension, special assessment or special consideration until the last moment, based on grounds that students could have reasonably been able to foresee, may result in the application being rejected.

Late lodgement

Late lodgements are subject to a penalty of 5% of assignment marks per day. Partially completed assignments will be accepted with appropriate loss of marks for the incomplete portion.

ASSIGNMENT 1 - WRITTEN MINI-RESEARCH ESSAY

Part A

The use of companies as a business structure in Australia has developed over the years.

REQUIRED

• Discuss the common used business structures in Australia and list the advantages and disadvantages of each structure.(7.5 marks)
• Consider and discuss why the Company has become the preferred structure to operate businesses in Australia.(7.5 marks)

Part B

Accounting Standards form a vital part of the regulation and administration of companies in Australia.

REQUIRED

• Discuss the connection between accounting standards and the Corporations Act
• Discuss the role of the ASIC and AASB in connection with the regulation of companies in Australia.(7.5 marks)

Important: Answers must refer to cases, legislation, accounting standards, articles or law reports.