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Arab Open University
B326: TMA –2nd Semester 2014-2015
The TMA covers the advanced accounting concepts and practices in the businesses. It is marked out of 100 and is worth 20% of the overall assessment component. It is intended to assess students’ understanding of some of the learning points within chapter 1, 3,4 and 5 beside the supplementary material. This TMA requires you to apply the course concepts. The TMA is intended to:
This TMA is based around two cases of “business combination” and “intercompany transaction and relevant information”. Marks will be awarded for blending the context of each case and with relevant theory by means of your own interpretation. In addition to this, some research is required.
The TMA requires you to:
Criteria for Grade Distribution:
| Criteria|| Content|| Referencing& e-library || Structure and Presentation of ideas|| Total marks|
| Part A|| Part B|
| Marks|| 65|| 35|| (5)|| (5)|| 100|
The TMA Questions
PART A: case study (Apple Inc)
The internet is a good place to get information that is useful to you in your study of accounting. For example, you can find information about current events, professional accounting organizations, and specific companies that may support your study.
Apple Inc designs, manufactures, and markets mobile communication and media devices, personal computers, and portable digital music players, and sells a variety of related software, services, accessories, networking solutions, and thirdparty digital content and applications. The Company’s products and services include iPhone®, iPad®, Mac®, iPod®, Apple TV®, a portfolio of consumer and professional software applications, the iOS and OS X® operating systems, iCloud®, and a variety of accessory, service and support offerings. In September 2014, the Company announced Apple Watch™, which is expected to be available in early calendar year 2015, and Apple Pay™, which became available in the U.S. in October 2014.
The Company also sells and delivers digital content and applications through the iTunes Store®, App Store™, iBooks Store™ and Mac App Store. The Company sells its products worldwide through its retail stores, online stores and direct sales force, as well as through third-party cellular network carriers, wholesalers, retailers and value-added resellers. In addition, the Company sells a variety of third-party iPhone, iPad, Mac and iPod compatible products, including application software, and various accessories, through its online and retail stores. The Company sells to consumers, small and mid-sized businesses (“SMB”) and education, enterprise and government customers. The Company’s fiscal year is the 52 or 53-week period that ends on the last Saturday of September. The Company is a California corporation established in 1977.
Access the GM home web page at: www.apple.com From Apple home page and then “The Company”, click on “FINANCIAL INFORMATION”, followed by “Reports and results”, then select the year September 2014 to display and download the “Annual report and accounts” 2014 on Form PDF.
Note: the financial statements of Apple are available at:
Instructions Use the annual report and accounts of 2014 to answer the following questions:
PART B: case study
Using the equity method solve the following:
Below are the income statement information for 2012 of Pearl and its 80% owned subsidiary “Rubi”.
| || |
Cost of goods sold
During 2012, Pearl sold to its subsidiary inventory for $400,000 with a gross profit $80,000. The remaining inventory on the hand of subsidiary is 40%.
Use the following headings (below) to make up the different sections of your work:
| || The PT3 form |
| || Title and contents page|
| || References (Recorded according to the Harvard style - Available on LMS) |
Advanced Accounting B326
Length: 6 pages (1650 Words)
Advanced Accounting B326
The business strategy that Apple is employing in carrying out its business is maximizing on its unique skill to design and come up with its operating systems, application software not forgetting its hardware components. These products and services enable Apple to achieve its goal of creating the best user experience to its customers through its innovative design, user-friendly applications and products that are easy to integrate. The company is also expanding its platform in the use of iTunes Store to discover and deliver applications as well as third-party digital content. The iTunes Store enables Apple customers to discover and download books and applications using Apple products such as Mac computers, Windows-Based computers, iPod touch, iPad and iPhone devices.