Yolo is a sole trader. She employs a bookkeeper to maintain her cash book and sales and purchases ledger accounts. She pays the bookkeeper 8,500 a year. Yolo also pays an accountant 500 a year to prepare her financial statements. Yolo is considering purchasing an accounting software package for 600. She would then maintain her accounting records and prepare the financial statement herself. The advertising for the accounting software states: "Keep your finances in check with our software. It is easy to use, fast and accurate. All your accounts available at the touch of a button." REQUIREMENTS: Prepare a memo for Yolo outlining the following: a) Two advantages to Yolo, other than those mentioned in the advertising, of purchasing the software package. (4 Marks) b) Two disadvantages to Yolo of purchasing the accounting software c) Advice Yolo whether she should purchase the accounting software (4 Marks) Yolo is also unsure how to treat transactions after the reporting date. In your memo explain to Yolo, what international standard governs events after the reporting date and what is meant by an "adjusting" and a "non-adjusting" event. Page 5 of 6