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Major Assignment

This assignment must be done in pairs; individual assignments will not be accepted. Preferably. You must select a person from within your tutorial group as your assignment partner.

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3. Your assignment MUST be word processed. Hand written assignments will NOT be accepted. 4. Ensure that your names, ID No’s, tutor’s name and tutorial day and time are stated clearly on the cover page, which can be downloaded from Model. 5.

A penalty of 10% will be deducted each day or part thereof that the assignment s late. Check late assignment policy. 6. Use proper in text referencing, footnotes and a bibliography. Popularized/copied assignments will be awarded a ZERO (O) mark, 7. 8. 9. Font size of 12 should be used with single line spacing. Word limit for this assignment is 1500 words. All answers will have to be submitted into TURN-IT-IN on model on the due Case Article: Read “Whininess seeks mining lease extension” by Archon Ala, Fiji Sun 5th March, 2013. [A copy of the article is attached on next page] Required

Compile a based on the following questions, in light of reading the case article and relevant readings. In writing your answers, you may provide quotes from the article to support your answer. Assume that you and your partner have been appointed as consultants and have been requested by the investors of Asia Pacific Resources Limited to provide them a business report in regards to the following: * Explain which underlying ‘accounting assumption’ is managing director Mathew Hugging most concerned about and the reasons for his concerns.

I * “For the investors, the Government and the landowners the only way in which to earn income from Whininess is by operating the mine. ” * Clearly explain how each party would earn income from the Whininess mine. I * Evaluate whether ‘exploration costs’ for mining companies’ are assets? Why or why not? I * Evaluate whether the land on which the Whininess Mine sits, is an asset of Asia Pacific Resources Limited or the landowners. * * Evaluate whether the company would have a liability in regards to the damages to the environment as a result of mining.