Read the background information below. You need to analyse the information given in order to identify the relevant points to include in your report to your client (as required below). Context: You are an adviser to a sole proprietor of a business selling home-made toys. During the year, the regular maintenance checks on the machine were missed due to cost-cutting. Later, the sewing machine stopped working and was unusable for two months while it was repaired. You have told the client that the repairs are just a maintenance cost and must be treated as an expense. However, your client does not want to record the cost of repairs as an expense this year because this will push the business results into a loss. Instead, she wants to capitalise the repair cost so it will be included in future depreciation. Required Prepare a report to explain to your client the proper accounting treatment of the repairs to the sewing machine. Include in your report the relevant accounting conventions and/or regulations that apply. (1000 - 1200 words). Some important points: 1. Readings: Use the custom book (or the original Atrill and McLaney books) plus relevant academic sources (see seminar 6 on using sources and library searches). If relevant, professional news articles may be used to source real-world examples. V Use valid news sources sparingly. DO NOT write a full report based solely on newspaper journalism. Read the background information below. You need to analyse the information given in order to identify the relevant points to include in your report to your client (as required below). Context: You are an adviser to a sole proprietor of a business selling home-made toys. During the year, the regular maintenance checks on the machine were missed due to cost-cutting. Later, the sewing machine stopped working and was unusable for two months while it was repaired. You have told the client that the repairs are just a maintenance cost and must be treated as an expense. However, your client does not want to record the cost of repairs as an expense this year because this will push the business results into a loss. Instead, she wants to capitalise the repair cost so it will be included in future depreciation. Required Prepare a report to explain to your client the proper accounting treatment of the repairs to the sewing machine. Include in your report the relevant accounting conventions and/or regulations that apply. (1000 - 1200 words). Some important points: 1. Readings: Use the custom book (or the original Atrill and McLaney books) plus relevant academic sources (see seminar 6 on using sources and library searches). If relevant, professional news articles may be used to source real-world examples. V Use valid news sources sparingly. DO NOT write a full report based solely on newspaper journalism.