CURRENT ACCOUNTING PRACTICES Each of the restaurants opened by MRG have followed a similar process whereby Legrande Holdings Pty Ltd$,$ a family company owned by Suzy and Emil, attends to the property purchase $($or lease contract$)$ and fit out. Following the appointment of suitable chefs and restaurant managers, each of the company$$s subsequent restaurants have then been transferred to MRG at a substantial premium to recognise the anticipated intangible value of each. As these premiums are determined in$-$house, it is understood that impairment testing of both property improvements and intangibles is not necessary unless a venue begins to struggle financially. Further, in each restaurant, subsequent repairs have been capitalised and equipment and fittings have been regularly subject to revaluation, revised useful lives and depreciation, or both. Aside from MRG$,$ Suzy Cartier is the founder and sole owner of Shooters, a premium coffee roaster and liquor supplier which supplies all the company$$s restaurants. MRG recognises inventory purchased from Shooters as soon as it is ordered $($not upon delivery$)$ as Suzy$$s involvement provides additional confidence of supply. Further, Emil has implemented the practice of valuing inventory each month based on market selling prices rather than cost. Revenue is recognised on a cash basis as most of the revenue is derived from the supply of food and beverages to diners. Due to the high demand and very low cancellation rates of catering engagements, these are also recognised at the time of booking $($when they are invoiced to clients$).$ MRG has chosen to not write off or provide for bad debts as it believes that its clientele will eventually settle all outstanding amounts $$ Identify any specific issues with Moka$$s current accounting practices relating to revenue recognition and receivables management. $$ Outline any other strengths and weaknesses with Moka$$s current accounting practices highlighting possible motivations and consequences. $$ Based on the above, recommend appropriate changes in accounting and reporting practices for Moka.