08 Sep Caribbean Brewers Read the attached case study in t
Caribbean Brewers
Read the attached case study in the module folder: Caribbean Brewers: Transfer Pricing, Ethics, and Governance.
Answer the following questions:
- How can the majority shareholder shift wealth through accounting cost allocations and transfer pricing?
- Who is harmed by the wealth-shifting discussed in Question 1?
- As adviser to the CFO of Caribbean Brewers, to whom are you responsible?
- JJ is adamant that the production facility is operating as efficiently as before the expansion, if not more efficiently. Is he right? Back up your answer with evidence from the case study, one way or the other.
- The board wants a report on the rising costs of production. To what extent, if any, are the cost of production rising? Back up your answer with evidence and calculations.
- JJ desperately wants to be able to prove that Gera International’s allegations of poor quality are groundless. How can proof of this claim be gathered from the information you have in the case study?
- Given the wording in Figure 5 with respect to the taxation of related parties, to what extent is Caribbean Brewers vulnerable to tax reassessment?
- What are the implications of the composition of the Board members to the reporting of the CFO? Be specific.
Your Word document should be 8-10 pages in length (excluding cover page and references page) and formatted according to the APA format. Submissions in excess of 10 pages are not permitted. You may submit an Excel file as a separate file supporting your submission if you wish or include Exhibits as part of your Word document supporting any quantitative calculations included as part of your submission. Be sure to discuss and reference concepts taken from the assigned required and recommended readings throughout the course and also your own relevant research. You must include a minimum of 8-9 credible academic or professional references beyond the course text, required and recommended readings or other course materials as part of your Word document submission.
Christensen, T., Cottrell, D., & Budd, C. (2019). Advanced financial accounting (12th ed.). New York, NY: McGrawHill. ISBN- 9781259916977
Resources
- Ainsworth, P. (n.d.). The Role and responsibilities of the modern CFO – A function in transition. Retrieved from https://www.toptal.com/finance/interim-cfos/role-of-the-cfo
- YOHOU, D. & GOUJON, M. (2017). Reassessing Tax Effort in Developing Countries: a Proposal of a Vulnerability-Adjusted Tax Effort Index (VATEI), Working Papers P186, FERDI.
- Gorin, D. (n.d.). Rising cost of raw materials — forging strategies to address its impact. Retrieved from https://traccsolution.com/resources/raw-material-costs/
- Sikka, P. & Willmott, H. (2010). The dark side of transfer pricing: Its role in tax avoidance and wealth retentiveness. Critical Perspectives on Accounting, 21 (4). pp. 342-356. 10.1016/j.cpa.2010.02.004.
- Gould, S. (2014). Should a CFO be a board member? Retrieved from https://www.ifac.org/global-knowledge-gateway/finance-leadership-development/discussion/should-cfo-be-board-member
6. Sikka, P. (2009). Shifting profits across borders. The Guardian. Retrieved from https://www.theguardian.com/commentisfree/2009/feb/11/taxavoidance-tax
Chen, C., Young, D., & Zhuang, Z. (2013). Externalities of mandatory IFRS adoption: Evidence from cross-border spillover effects of financial information on investment efficiency. Accounting Review, 88(3), 881-914.
Kleinman, G., Lin, B., & Palmon, D. (2014). Audit quality: A cross-national comparison of audit regulatory regimes. Journal of Accounting, Auditing & Finance, 29(1), 61-87.
Sharif, R., Ji, S., Beekmann, K., & Steinberg, H. (2017). Accounting and cultural differences in Mexico, Sweden, South Korea, & the USA. Allied Academies International Conference: Proceedings of the Academy of Accounting & Financial Studies (AAFS), 22(1), 38-42.
Cieslewicz, J. K. (2014). Relationships between national economic culture, institutions, and accounting: Implications for IFRS. Critical Perspectives on Accounting, 25(6), 511-528. doi:10.1016/j.cpa.2013.03.006
Domnişoru, S., & Goagără, D. (2014). Critical analysis of national and international accounting regulations on transactions with business entities. Young Economists Journal / Revista Tinerilor Economisti, 11(22), 43-48.
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