HA3021 Individual Assignment T XXXXXXXXXXPART 2.docx HOLMES INSTITUTE FACULTY OF HIGHER EDUCATION Assignment Question ● NOTE: This is Part 2 of the Individual Assignment in HA3021. You must have read...

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HA3021 Individual Assignment T XXXXXXXXXXPART 2.docx
HOLMES INSTITUTE
FACULTY OF
HIGHER EDUCATION
Assignment Question
● NOTE: This is Part 2 of the Individual Assignment in HA3021. You must have read Part 1 of the assignment
and submitted the Assignment Plan before doing Part 2 of the assignment.
● There will be four (4) questions in total, which will be released progressively and must be
answered according to the following schedule
o Questions 1 and 2: released at the end of Week 2. Answers must be submitted in the
Answer Plan.
o Question 3: will be released at the end of Week 5. Answers to Questions 1, 2 and 3
must be submitted in the Assignment Draft.
o Question 4: will be released at the end of Week 7. Answers to Answers to Questions
1, 2, 3 and 4 must be submitted in the Final Assignment.
● Read Question 3 below on Business Structures and plan your answers.
● Using the Answer Plan you have already submitted, prepare the draft of your assignment, which
must include the answers to Questions 1, 2 and 3.
● Follow the word counts specified for each individual component of the individual assignment.
● A minimum of 6 genuine and relevant Australian legal references are required for the Draft and
Final Versions of the Individual Assignment. Examples of relevant references include the
Corporations Act 2001 (Cth); the Australian and Securities and Investment Commission’s (ASIC)
website (www.asic.gov.au), the website of the Australian Business Register’s (ABR) website
(www.a
.gov.au).
● The full citations for all sources cited in your answer must be listed in a Reference list at the end
of your answer.
● In addition, any online sources cited in your answer and listed in your Reference List must
include a valid hyperlink that allows access to the full text of the source.
Congratulations! You have secured a graduate position with a large firm of corporate
advisers. Hannah Finley, a partner in the practice, asks you to attend an 10:00 a.m.
meeting
on Monday with herself and Russel Ro
ins, a longstanding client of the firm. You will be
equired to take notes and prepare answers to Russel ’s queries.
Russel Ro
ins is ma
ied to Megan Mays. They have one child, Ellie, who attends a local
private school. Russel is very entrepreneurial and has been running a second-hand and
HA3021 Corporations Law Individual Assignment T1 2021
http:
www.asic.gov.au
Page 2 of 5
vintage clothing business in Albury, NSW, by himself as a sole trader for the past five years
under the business name of Pinnaclewear. A lot of Russel’s customers are othe
usinesses, both local and overseas. Turnover was $285,000 in the first year and has now
grown to over $3 million per annum.
The business operates from rented premises, but Russel would prefer to buy a building.
Cu
ently, Pinnaclewear employs eight staff. Russel has plans to expand the business
further. He also wants to diversify into food and catering in the near to medium term.
Russel’s mother, Violet, is a retired accountant and he regularly asks her for advice. Violet
suggested recently that Russel should structure his business as a company. Russel is
unsure about this. He makes an appointment to see Hannah
Prior to the meeting, you review Russel ’s file and note that he and Megan have the
following assets.
● A family home in Wodonga with a market value of $1.25 million. There is a mortgage
on the property of $561,000. The house is owned by Megan. The house was
previously owned by Russel and Megan , but when Russel started up his business,
it was decided to transfer the house solely to Megan for asset protection reasons.
● A share portfolio. Russel and Megan jointly own 1000 Telstra shares, which cost
them $3.30 per share, and 500 Commonwealth Bank shares, which they bought
when they first ma
ied. The Commonwealth Bank shares cost them $10.90 pe
share. The Telstra shares are cu
ently worth $3.09 per share and the
Commonwealth Bank shares are worth $61.00 per share. The shares are intended
as an investment for Ellie — they will be given to her when she turns 21. Russel and
Megan also jointly own a portfolio of blue chip Australian shares cu
ently valued at
$145,957.
● Two motor vehicles. Megan owns a BMW Series 7 worth $ XXXXXXXXXXRussel owns a
VW Transporter Van worth $18,000, which he uses for the business.
● Office furniture and equipment. During the course of the year, Russel bought
computers, desks, other office furniture and shelving for the business which cost him
approximately $ XXXXXXXXXXTheir cu
ent value in the financial accounts is $8,650.
● Superannuation. Russel has $190,568 in superannuation and Megan has $136,000
in superannuation.
In addition, Megan works as a sales and marketing manager in the city for a financial
services company. She is on a total salary package of $155,000.
At the meeting, Russel hands over last financial year’s business results and his draft
udget of sales and expenses for the coming financial year. The budget for the new yea
shows expected sales of $3,764,000 and a net profit of $637,979.
HA3021 Corporations Law Individual Assignment T1 2021
Page 3 of 5
Issues to be considered
During the meeting, Russel has a number of questions relating to important issues
su
ounding the future of his business. Answer the following questions relating to Russel ’s
matter:
(1) What options does Russel have to structure the Pinnaclewear business? Name
each business structure used in Australia that Russel can choose and then define
and describe the basic characteristics of this business structure.
(2) From the facts presented, identify the important issues that will arise as Russel
chooses the best type/s of business structure/s and the factors that he will need to
consider in choosing the right business structure for his business.
(3) Russel still wants to run the business — he wants to be in control. How would the
other business structures differ from just Russel as a sole trader, specifically from
the aspect of control over the business?
Note:
Question 4 will be released at the end of Week 7.
HA3021 Corporations Law Individual Assignment T1 2021
Page 4 of 5
Marking Ru
ic
Individual Assignment
Total marks
available: 20 marks
per question
Excellent Good Satisfactory Unsatisfactory
Identification of
material facts
involved in problem
question
(8 marks)
7.5 to 8 marks
Completely
identifies all
elevant facts of
case
6 to 7 marks
Identifies most of
the relevant facts
of case
4 to 5.5 marks
Identifies the
asic relevant
facts of the case
ut misses othe
elevant facts
Below 4 marks
Does not identify
elevant facts of case
Identification of
legal issues / legal
question and
elevant law
(10 marks)
9 to 10 marks
Co
ectly identifies
all relevant legal
issues and are
stated in the form
of questions.
Co
ectly identifies
elevant and
appropriate legal
ules and case law,
and states them in
the form of
statements
7 to 8 marks
Issues co
ectly
identified, but
may contain
extraneous
information and
are not stated in
the form of
questions.
Legal rules and
case law co
ectly
identified, but
may contain
extraneous info
and are not in the
form of
statements.
5 to 6 marks
Issues are not
completely
identified.
Legal rules and
case law not
co
ectly
identified.
Below 5 marks
Identifies inco
ect o
i
elevant issues.
Identifies inco
ect o
i
elevant legal rules
and case law.
Thorough yet
succinct application
of law to material
facts
(10 marks)
9 to 10 marks
Co
ectly identifies
facts;
well-reasoned
discussion relating
facts to the rules
and case law.
7 to 8 marks
Co
ectly
identifies facts.
Not well
easoned.
5 to 6 marks
Facts not co
ectly
identified.
Analysis
incoherent.
Below 5 marks
Scant to no analysis.
Citation and
eferencing
(including minimum
number of
eferences)
(8 marks)
7.5 to 8 marks
Co
ectly cites
minimum of 6
eferences, in-text
and in reference
list.
6 to 7 marks
Has minimum of 6
eferences; or has
occasional e
ors
in formatting of
in-text citations
and reference list
4 to 5.5 marks
Does not have
minimum of 6
eferences o
contains e
ors in
formatting of
in-text citations
and reference list
Below 4 marks
No referencing eithe
in-text or in reference
list; or cites
inappropriate
eferences; or all
eferences not cited in
the co
ect format.
HA3021 Corporations Law Individual Assignment T1 2021
Page 5 of 5
Professional quality
including language
use and writing
style
(4 marks)
3.75 to 4 marks
Professional
language. No
grammatical,
punctuation o
spelling e
ors.
3 to 3.5 marks
Some mistakes.
Does not detract
from
understanding.
2.5 to 2.75 marks
Many mistakes.
Detracts from
understanding.
Sloppy.
Below 2 marks
Reflects no real effort.
Deductions
Excess word count
(1 mark for every
25 words over)
Under the word
limit (1 mark fo
every 25 word
under)
Lacks minimum of 6
eferences (1 mark
for every missing
eference)
HA3021 Corporations Law Individual Assignment T1 2021
Answered 1 days AfterMay 03, 2021HA3021

Solution

Jose answered on May 05 2021
41 Votes
The University of Queensland
1
Running Head: Management
Management
Case Analysis
Individual
Lecturer:
Student Submitting:
Due Date: 30/4/2021
Question: 3
Russel still wants to run the business — he wants to be in control. How would the
other business structures differ from just Russel as a sole trader, specifically from
the aspect of control over the business?
3.1 Identification of Material Facts
While analysing the case we can understand that Russel wants to be in control and he wants to manage the business most constructively. While analysing the Australian company laws and regulations, for controlling the business, it is better to be a sole trader. The sole trader has the power to make the decision and he can implement any strategy without consulting others (Kragt et al 2021,p.10). From the case, it is clear that Russel’s mother, Violet, suggested Russel change the structure of the business into the company and he has doubts related to the same. We know the fact that there is a big difference between the structure of the company, partnership and LLP. Each structure has its advantage and disadvantages. For changing the structure and for implementing the same Russel has to consider different aspects. Liability of the owner when he changes into the new structure, benefits of changing into the new structure, rules and regulations related to structural change has to considered while selecting the new structure of the business. From the case it is clear that Russel wants to things;
· He wants to run the business
· He wants to be in control
Running the business is not easy, he has to consider various rules and regulations in Australia. While analysing the case we can understand that Russel’s customers are othe
usinesses, both local and overseas. For meeting the needs of the local customers he has to follow the Australian rules and regulations and for supplying products for the international customers he has to follow international rules and regulations. He also required the support of the government, employees and other stakeholders for running the business. We know the fact that the main objective of business to satisfy the customers and earn revenue. Therefore, for running the business successfully Russel also has to understand the needs of the customers and based on that he has to design the products and services. He also has to follow all the ethical standards and principles for fruitfully managing the business. Running a business also required the proper documentation of financial statements and reports. 
Another aspect he needs is related to taking control of the business. From the case, it is clear that Russel is managing and taking the decisions related to the business and he has the full authority for deciding the future aspects related to the business. He only commits to the customers. His family members also helping me for running the business and he is influenced by the suggestions given by Violet his mother. For controlling the business and for running it successfully we have to focus on the proper plan and Russel has to track all the process and activities. 
3.2 Identification of Legal Issues and Application of Law to Material Facts
Selection of the right business is intimidating and confusing. While analysing the case we can understand that Russel wants to run the business and he wants to control the business, so it is better to be a sole trader and it helps him to control everything most appropriately. Controlling is considered the most important step in the business, in which the managers has to check, verify and monitor all the operations and activities that are related to the business organization (Simon et al 2020,p.321). While comparing other business structures LLP, company and Partnership we can understand that it is entirely different from the sole trading business especially in terms of control over the business. As per Australian law, a sole trader has to obtain an Australian Business Number (ABN) for...
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