Our on application by 31 July. We are going

 

Our
company decides to issue 500,000 ordinary shares at $1 and requires 30 cents
for each share applied for the application. That money will be kept or belonged
to the company until the offer is accepted, so the received amounts will be
deposited in the individual trust bank account, the money we received with the
following general journal entry:At
this stage, the money is belonged to the company but is held in the trust of
the applicants until the application is finalized. Once the application has
approved, the directors will notify and meet successful applicants, and now the
money belongs to the company. The company has a share capital of $150,000 and
the general journal as follows:Our
company plans to form on 1 July 2018 with a clause in our constitution limiting
the number of share to 800,000 and 500,000 shares at $1 each with the terms
being that 30 cents are payable on application by 31 July. We are going to set
our raw-factory in South China and purchase center in North Chian where are
close to original parts factory and easy to recruit the employee. After the
setup of plants factory, we will apply the government subsidy to encourage the
health cash-flow and start to engage the stage one Venture Capital and Stage
two Private Equity. With the premiss and property which including land and
building is as much as Australia, but the high-trained employee and replaceable
engineer are exclusive assets over there. We estimate the price for land and
building in remote areas in China are roughly $120,000 and $300,000
respectively. However, since our product is high-tech and required the most
superior technology, we will invest the most of our money into plant and
equipment.

 Property,
plant, and equipment is intangible items that are held for use in the
production or supply of goods and services and expected to be used for more
than a period. Those questions are defined as comprising tangible assets and
having a physical form such as buildings, lands, motor vehicles, machinery and
production facilities and office furniture and equipment.

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Tangible
assets are distinguished from intangible holdings including brand names, patents,
trademarks and intellectual property. The items of property, plant, and
equipment invested in our company can take several forms, land, and building in
our factory in China, technology machinery and vehicles.

 

The
depreciation is a systematic allocation of the depreciable amount of an asset
over its useful life. Hence, there are three ways that it will comply with
these requirements: straight-line method, the diminishing balance method and
the units of production method. In our company, we decide to use straight-line
depreciation method which is to estimate an asset’s residual value or useful
life. This technique benefits from the use of the asset that is expected to be
derived evenly over its useful life.

 

An
asset such as motor vehicles or air conditioner with a cost of $12,000 and an
estimated residual value of $5,000, the depreciable amount of $7,000 will be
allocated evenly over the asset’s useful life. Assuming the useful life is four
years, then the annual depreciation charge would be $1,500.

The
journal entry to record this each year would be:Intangible
assets commonly refer to goodwill brand names, copyright, intellectual
property, patents, trademarks and development projects. The most concerning
issue is that the intangible assets are an individual intangible or an asset in
the entity of the company. To solve, to avoid this matter and problem and other
conflict are very important, our company decides to treat concerning write-down
values. Meanwhile, employees especially who make the most significant
contribution will be authorized shares as a return of their creative ideas. Intangibles
are essential within a company’s statement of the financial report. Take
Telstra which represents intangible natures in software, trademarks, customer
databases and brand names as a silent example. It is well-known that Telstra
non-current assets value at $33 billion on 30 June 2009 and its intangibles
amount is $5 billion.  Our
company-Intelligent Solution will apply intangible resources such as scientific
and technical knowledge, design and implementation of new process and
intellectual property from AASB 138: Intangible Assets. Regarding
identifiable intangible, an asset is recognizable as it is separable and
capable of being sold or divided from the entity, transferred or exchanged.
While the idea of smart meters connected to the apps on the tablet and
transport the data such as flow, usage, and peak/off-peak hours. They are all
our initial proposal with a related identifiable asset. Additionally, it arises
from contractual and legal rights which are transferable from the entity or
other rights and obligations. Apart
from that, the intelligence property also meet the criteria for the initial
recognition, which it is expected future economic benefits attributed to the
asset. In fact, our next economic benefits and profitability are primarily
dependent on our intangible assets.  

The
company may incur the following expenditure in developing smart meters over the
next few years, planning as followed:6.1       Potential RisksWater/Electrical
Meters are usually placed in the entry of house/apartment/industry area base
where it is easy to read. The convenience is only open to one side if it is
easy for resident, which it might easy to access from inside and hazard free
from the cold weather and physical damage. But if it is easy for meter reading,
it is better located at the central combine, but it is difficult for the
resident. Respect the fact and history; Smart Meter can base anywhere while the
earth moves and aged. Now it is trendy in North China and North Euro, the place
would suffer the freezing weather. The meters and system are part of winter
water system. The quick response team can detect where the water flow stop and
fast respond to reduce the frozen pipe. It sounds interesting but not any fun
of the people who met this situation. With the Meters and as a part of the
system. The market research report provides the newest industry data and future
industry trends, allowing you to identify the products and end users driving revenue
growth and profitability.  Why
do consumers accept such huge mark-ups? Because all meters necessarily look the
same, and manufacturers carefully guard the details of what’s in a meter, says
one former franchise owner who spoke on condition of anonymity. Quality safety
is not guaranteed. In choosing smart meter products, the client tends to focus
on “intelligence,” while ignoring their safety as home products, and
sometimes even manufacturers are not paying attention. In
particular, the after-sales difficulty of online sales channels has become the
“smart home” method. Also, intelligent home information security risk
cannot be ignored. In the age of big data, the user’s identity and consumption
habits become data that can be stored, processed, deep dug and can be
integrated. Owner monitoring the water usage need the legal base to support.
The smart meter as part of the smart home is a powerful tool to speed up the
digitization. When the user information is detailed enough, the hidden dangers
of “streaking” on the Internet in real life are also more
significant. But our meter reading system is base on intranet, not internet,
not open to the public, as a part of management, security management is also
the most important for the final user. 6.2       Risk ControlThe
existing sales framework is mainly aimed at mature enterprises, which tend to
assume that the salesperson has a fully developed product and that their goal
is simple, to achieve a deal. Such models often suggest that salespeople listen
to potential customers, anticipating possible objections, or understanding
organizational activities that drive decisions. However, such a model tends to
ignore the fact that information gathered during the sales process is equally
important in product design or redesign. Based on interviews with company
founders, we have developed an alternative model that is more suitable for
start-up. This model requires the entrepreneur to engage with potential
customers immediately once they have an idea, not to wait for the product to
take shape. The goal of early engagement is not just to gain market insights in
product design, but also to get information about promotions, distribution, and
pricing strategies.  After
an early round of talks, entrepreneurs should rethink whether their ideas are
powerful and broad. The answer to this question will decide if the entrepreneur
is to abandon the existing way of thinking, back to the drawing board to
continue planning or continue to develop samples, the conditional promise from potential
customers, generate more potential customers and other traditional sales
activities. Research shows that if people are involved in a creative process,
they are more committed to the idea. Founder by early contact with potential
customers, not only can collect customer feedback, improve product design, at
the same time also can let potential customers participate in the process, thus
increasing the possibility of buying products or services. The model also helps
ease the challenges that entrepreneurs face when interviewing potential
customers. Potential customers may respond more openly if the founders visit
potential customers to discuss products that don’t exist, rather than make
sales calls.  On
the whole, people are more willing to offer advice than to listen to salesman
blowing his own horn. Entrepreneurs can use this mentality to improve their
sales. Start-up face many challenges, and in the process of building a
business, entrepreneurs have to be versatile. It’s no surprise that
entrepreneurs often defer sales (or contact with customers) until the product
has been formed and started going into production. However, our research shows
that early customer feedback is essential, and entrepreneurs who don’t have a
timely consultation with their customers will eventually regret it. More
likely, the PR and ethical problem will generate while the business is doing
better, we have a choice to limit the behave of the employee. And setting up a
central agency to avoid the future damage at the initial place.  7.         Conclusion 

In
summary, the meters industry is the most prosperous industry as many people now
start to pay attention to their conveniences and environment. Therefore, what
we create are the smart meters to focus on the essential infrastructure. We care
about all around the business and property, from the industry to domestic,
house owner and tenants, all kinds of people. All of them will get the benefit
from the expanding of business. Ensuring everyone to enjoy the most
conveniences is our priority.  With the
most intelligent people and production, Intelligent meter Solution will create
the future trend for the meters industry.