solved Assessment informationRead the Annual Report (latest) including the financial statements

Assessment informationRead the Annual Report (latest) including the financial statements of Caltex Australia Ltd. and write a Memorandum to the Board of Directors clearly explaining some of the technical aspects of consolidation. Make sure you draw on the company’s specific details to explain the intricacies of consolidation to the Board and as much as possible avoid answering in general terms. Please make sure that your assignment is in a MEMO Format – A Report format will not be marked. The assignment must include appropriate references to Accounting standards and other regulatory bodiesSome of the aspects that you need to cover in your assignment are (but not restricted to): 1. Why did the parent entity have to prepare consolidated financial statements when the subsidiary company is a separate legal entity in its own right? 2. Does the published set of group financial statements reveal the company’s policy on corporate governance, Audit committees, Sustainability, Solvency? Does it reveal these issues and if so where and why? 3. Has there been any goodwill on the acquisition? Or any gain on bargain purchase? Where would you find it in the financial statements and what does it mean? Any impairment? 4. Any other relevant matter that you may wish the Board of Directors to make note of in respect of some transaction or event, the balance of account or disclosure that will assist them in understanding the financial statements of the group.Requirements Part (A) – Write a memorandum to the Board of Directors (the members of the Board have varying degrees of accounting knowledge or understanding) as noted in the assignment details. The memo should be no more than 1000 words. Part (B) – Summarise your findings in a 4-5 minutes’ video presentation. • Note that marks are also allocated for professional presentation, grammar, and spelling In‐Text Referencing and the Reference ListSources of information must be cited both in the body of the text (in‐text referencing) and the end of the assignment (reference list). Failure to do so will result in penalties. Remember that when referencing an Annual Report, it is a corporate document that does not have a particular author but it will still require referencing any time you use information from it. Any other documents or books or other references you use will also require referencing.