Analysis of companies reporting relative to frameworks

Assignment Help Accounting Basics
Reference no: EM131348875 , Length: word count:2000

You are required to select a top 100 ASX company and relate their general purpose financial report with conceptual framework. In order to do this you will need to identify material from the GPFR of the company and provide a critical analysis of the companies reporting relative to the conceptual framework need to identify issues that have been wrongly shown to the users or find out misleading information users

Suggestions regarding assignment

USE YOUR INDEX WISELY......

Go to Balance Sheet, Income Statements, NOTE 1 (methods adopted by company) and other notes from the financial reports, Remuneration Report, Auditors Report

Remuneration report - screen shot or take elements from actual report in relation to executive remuneration.   Linked to profit? Share price? Or other - consider how this drives culture with organisations including a desire to obtain profit to receive bonus payments.

ISSUES WITH REMUNERATION can be SELF INTEREST - SHORT TERM DECISION MAKING, TELEOPATHY (unhealthy pursuit of goals), manipulation of accounts, not adhering to the conceptual framework, aasb issues like in leases

In your discussion using examples from annual reports (of many companies) will assist however focus should be on your company(ies)

GPFR - general purpose financial reports - for users to make financial decisions perhaps to affect profit rather than in accordance with AASB or conceptual framework

INVENTORY - OVERSTATE- aasbvalued AT COST OR LOWER OF COST OR MARKET.

ACCOUNTS RECEIVABLE - OVERSTATE - ESTIMATION OF PROVISION FOR BAD AND DOUBTFUL DEBTS - UNDERSTATE YOUR PROVISION

PPE - OVERVALUE - EXCESS VALUATION (PRUDENCE) - DEPRECIATION - CHOOSE METHODS  perhaps to affect profit rather than in accordance with AASB or conceptual framework

LIABILITIES - LEASES - INTANGIBLE ASSETS - NOTES - LOOK FOR EVIDENCE OF ANY LEASING

Contingent legal liabilities - where companies have had to pay out legal obligations due to issues

LEASES HAVE BEEN LEFT OFF BALANCE SHEETS - LIMIT RATIO - ATTRACT INVESTORS

Overstated Revenues, sales returns

Understated expenses

TAXATION

TRANSFER PRICING - FACEBOOK -TAXATION

Eg.TRANSFER PRICING - FACEBOOK -3-5 BN additional tax payments

Discuss prudence - what is proposed for updating the conceptual framework

How you think this will affect the reporting?  Benefits and criticisms (cpaeg)

The inclusion of prudence, then removal and now addition again by accounting.

Or are the issue much more complex than that? Do accountants adhere to the CF?  Perhaps addressing remuneration and other issues would achieve better outcomes?

Reference no: EM131348875

Questions Cloud

Development of a new software development : Provide a discussion on the various object oriented tools and their purpose, youshould concentrate on the UML group of tools - these might prove useful in the development of a new software development which is to be developed for the organisation ..
Describe strength and weakness of branch of our government : Describe one strength and one weakness of one branch of our government: Executive, Legislative, or Judiciary.oRecommend one option to maintain the strength and one to correct the weakness.
Discuss software development methodologies : Research and find two peer reviewed academic articles that discuss software development methodologies for (medium scale) distributed information systemsprojects. Summarise, compare and contrast these articles and state whatcontribution they make t..
Nominative fair use defense : What conditions must be met for a defendant to successfully use the nominative fair use defense?
Analysis of companies reporting relative to frameworks : In order to do this you will need to identify material from the GPFR of the company and provide a critical analysis of the companies reporting relative to the conceptual framework need to identify issues that have been wrongly shown to the users o..
Go-back-narq and selective-repeat arq : Q. Tell the maximum send and receive window size for Go-Back-NARQ and Selective-Repeat ARQ while using five-bit sequence numbers.
It strategies and applications for own business : What planning methods would you use to develop business/ IT strategies and applications for your own business? Explain your choices.
Why program design is important : What is a program design? Why program design is important? What program design tools are available? Discuss in details by studying at least three program design tools and how they can help in better program design and C code?
Similarities and differences of the two languages : Choose another programming language and compare that language to what you are learning about C language. What are some of the similarities and differences of the two languages?

Reviews

len1348875

1/10/2017 6:17:27 AM

Total 2000 words each please select two different companies. You are required to select a top 100 ASX company and relate their general purpose financial report with conceptual framework, in order to do this you will need to identify material from the GPFR of the company and provide a critical analysis of the companies reporting relative to the conceptual framework need to identify issues that have been wrongly shown to the users or find out misleading information users, there is also an attachment for the suggestions regarding this assignment. Thank you. The word count is max 2000 with Harvard referencing and 5 journal articles please.

Write a Review

 

Accounting Basics Questions & Answers

  Behavioural advantages and potential disadvantages

What are the behavioural advantages and potential disadvantages that could arised from responsbility accounting and how the disadvantages can be overcome by company.

  Ace products sells its products for 22 each unit

ace products sells its products for 22 each. unit manufacturing cost are direct material 4 direct manufacturing labour

  Phillips industries runs a small manufacturing operation

phillips industries runs a small manufacturing operation. for this fiscal year it expects real net cash flows of

  Differential analysis for machine replacement

Differential Analysis for Machine Replacement

  Customers send requests for auto insurance into the

customers send requests for auto insurance into the asheville sales office where sales clerks prepare policy request

  Bob smith a professional basketball player raises black

bob smith a professional basketball player raises black angus cattle under circumstances that would indicate that the

  Calculate the amount of goodwill acquired prepare the

cafe ole company acquired a fast-food restaurant for 1500000. the fair market values of the assets acquired were as

  Which of the following is not a result of the closing proces

Which of the following is NOT a result of the closing process?

  Preparing the partners capital statement

Debauge Co. had beginning capital balances on January 1, 2008, as follows: Nick Foley $30,000 and Tom Wenger $25,000. During the year, drawings were Foley $15,000 and Wenger $8,000. Net income was $50,000, and the partners share income equally. Pr..

  What are some general and administrative expenses

What are some general and administrative expenses that can appear on a merchandising company's income statement that would not appear on a service company's income statement?

  The dairy division of famous foods inc produces and sells

er. the total cost of producing the milk base for the products is 45000 which has been allocated based on the gallons

  John makes child support payments

John and Mary Jane Diaz are married, filing jointly. Their address is 204 Shoe Lane, Blacksburg, VA 24061. John is age 35, and Mary Jane is age 30. They are expecting their first child in early 2016. John's salary in 2015 was $105,000, from which ..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd