Hi. Attached are the questions which requires your assistance. Sincerely look forward to your timely response. Thanks and have a blessed day.

Accounting for Superannuation Plan Q.1 What is a superannuation plan? Discuss the role of fund administrator in superannuation plan? Q.2 What are the difference between a defined benefit plan and a defined contribution plan? When a superannuation plan unlikely to be a reporting entity? Q.3 Accounting Standard AAS 25 requires that all assets of superannuation plans be stated at their 'net market value'. This is an apparent departure from the traditional accounting practice of historical cost, according to which assets are measured at their original cost (less accumulated depreciation or amortization) or, if lower, at their recoverable amounts. Required: Discuss the adoption of the net market value criteria in AAS 25 ,and how information provided on these criteria might be more useful to user of financial statements than information prepared on the historical-cost basis. Q.4 What is an actuarial report? And why are actuarial reports required for defined benefit plans? Why should a copy be appended to the financial statements of a defined benefit plan? Q.5. How is accrued benefits disclosed in the statement of financial position prepared by a defined benefit plan and defined contribution plan? Q.6. Can a defined benefit plans has a choice in their reporting format? If so , what is the choice and under what circumstances forgone? Q.7 Lying on the Beach Superannuation Plan controls a number of assets with the following market values as at 30 June 2011 and 30 June 2012, respectively. Market value as at Assets 30 June 2011 ($) 30 June 2012 ($) Land acquired prior to 30 June 2011 150,000 90,000 Land required in January 2012(for $70000) ---------- 60 000 Building 95 000 110 000 Buildings acquired in January 2012 ($ 80 000) ---------- 90 000 Investment in listed securities 100 000 160 000 Motor vehicles 85 000 70 000 Furniture and fittings 40 000 35 000 Plant and equipment 35 000 ----------- Lying Beach Superannuation Plan sells its plant and equipment in April 2012 for $ 30 000. Contributions from employers and members for the year ended 30 June 2012 were $ 30 000 and $ 25 000, respectively. Required: On the basis of the information, calculate the revenue of lying on the Beach Superannuation Plan for the year ending 30 June 2012