TASC Accounting Level 3 case studies
TASC Accounting Level 3 · Put your knowledge to work in context.
TASC Accounting Level 3 is a Tasmanian senior secondary course and external assessment in accounting, administered by the Office of Tasmanian Assessment, Standards and Certification (TASC). It is intended for students who want a rigorous grounding in accounting before tertiary study, vocational pathways in bookkeeping and finance, or entry-level work involving financial records. The TASC Accounting Level 3 case studies are 5 cases and about 1,813 words.
1Revenue Recognition on a Multi-Year Contract with a Financing Component
Ridgeway Fabrication signs a three-year contract with a customer on 1 January to build and maintain a specialised conveyor system. Total consideration is 1,200,000, payable as 500,000 on signing and 700,000 at the end of year three.
381 words, about 2 min2Absorption Costing and a Make-or-Buy Decision Under Constraint
Halbrook Components makes three products, A, B and C, on a single machine that is available for 10,000 hours per year. Per-unit data: A sells for 60, uses 2 machine hours and 28 variable cost; B sells for 45, uses 1 hour and 18 variable cost; C sells for 90, uses 4 hours and 50 variable cost.
385 words, about 2 min3A Reconciliations Control Failure in a Small Finance Team
Marlowe Traders has a finance team of four. The bank reconciliation is prepared by the same clerk who records cash receipts and has authority to write off small differences up to 500.
355 words, about 2 min4Appraising a Project with Unequal Lives and a Capital Ration
Dunmore Engineering has 500,000 of capital available and is considering two mutually exclusive projects plus a smaller one. Project X costs 400,000, has a five-year life and expected annual net cash inflows of 120,000.
349 words, about 2 min5Variance Analysis Where the Standard Itself Is Suspect
Pennard Foods set a standard for its packaged meals: 0.5 kg of raw material per unit at 8 per kg, and 0.2 labour hours per unit at 15 per hour. Actual output for the month was 10,000 units, using 5,600 kg of material costing 47,600 and 2,200 labour hours costing 31,900.
343 words, about 2 min