Analyze selected issues on financial reporting

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Reference no: EM133938072

International Financial Reporting Standards

Assessment - Project & Oral Presentation

Project:

CLO 1: Explain the relevance of IFRS in the current financial reporting environment
CLO 2: Apply IFRS principles to selected items of the balance sheet
CLO 3: Analyze selected issues on financial reporting of listed companies
CLO 4: Recommend an accounting treatment for selected issues on financial reporting

Requirement 1

Students are formed in groups of three at maximum. Each group should select three companies from one industry sector. Three standards are chosen for each company (use the attached Guide to UAE Financial Markets to choose the companies). Simply, each student in a group of three should choose one company which uses three standards.

For each company selected, the financial statements for 2024 is to be examined for this project purposes.
Each group is to submit a report including answers for the following questions based on the selected companies:
1. When the company has adopted the application of IFRS
2. What is IFRS standard the company use to present its financial statements?
3. Select three standards that are applied by the company, your selection should be from the following standards:

Accounting Policies _IAS 8
Non-Current Assets Held for Sale IFRS 5
Revenue from contracts with customers IFRS 15
Effect of changes in foreign currency rates IAS 21
Earnings Per Share IAS 33
Financial Instruments Presentation IAS 32

4. Compare the three companies' annual reports of the selected companies for the following points
List your selected standards in the selected companies.
What is the revenue amount for each company?
Where are the numbers related to the selected standards are presented? (Balance sheet, income statement, or equity statement)
What are the disclosures points that have been listed in the companies' notes?
What are the major shortcomings in the disclosure notes for your selected companies (indicate if there are any missing disclosure requirements based on the IFRS requirements for the selected standard)?
Based on your answers above what is your recommendation regarding the level of details in the three companies?

Requirement 2
Each group will select three articles belonging to one group of the following. The instructor ensures that each three groups of students have different group of articles. Get top-notch online assignment help now.

Group 1: Revenue from contracts with customers, IFRS 15.
1. THE EFFECTS OF THE ADOPTION OF IFRS 15 - REVENUE FROM CONTRACTS WITH CUSTOMERS ON THE COMPANY'S PERFORMANCE Dumitru, Andreea Paula Global economic observer, 2024-01, Vol.12 (1), p.117-123
2.Compliance of disclosure requirements of IFRS 15: an empirical evidence from developing economy Karim, Md. Rezaul ; Riya, Atia Ibnat International journal of disclosure and governance, 2022-09, Vol.19 (3), p.301-312
3. Does Applying IFRS 15 Affect the Quality of Earnings of Cambodian-Listed Companies?
Zubir Azhar, Journal of Accounting, Finance, Economics, and Social Sciences, 2022-01, Vol.7 (2) issued a joint standard, which is international financial reporting standard no.15 (IFRS 15),

Group 2: Share Based Payment_ IFRS 2
An analysis of the use of share-based payments by the JSE Top 100 companies
Nardhamuni, Ramishka ; Greenslade, Kayleigh ; van Zijl, Wayne SA journal of accounting research, 2023-05, Vol.37 (2), p.85-105
THE NEW ACCOUNTING AND THE IFRS REQUESTS. THE PAYMENT BASED ON SHARES (IFRS 2) - REQUEST OF THE KNOWLEDGE ECONOMY Lepadatu, Gheorghe, Knowledge horizons : economics, 2018-01, Vol.10 (1), p.55-62

ACCOUNTING for employee share ownership plans Desai, Snehal, Accountancy SA, 2024-04, p.54-55

Group 3: Leases IFRS 16
The Impact of IFRS 16 on the financials of the Greek listed companies Rompotis, Gerasimos ; Balios, Dimitris Accounting and management information systems, 2023-09, Vol.22 (3), p.375-407
Leasing from the perspective of environmental management and its influence on business performance
Bocok, Vojtech ; Hinke, Jana ; Abrham, Josef Frontiers in environmental science, 2023-09, Vol.11
Effects of the implementation of IFRS 16 leases in companies listed in the Colombian Stock Exchange, Rojas Molina, Leidy Katerine ; Franco Gómez, Yuly Andrea
Revista de la facultad de ciencias económicas, 2022-12, Vol.30 (2), p.43-58

Read the articles together and prepare a summary of 500 words, ensure that your summary includes the paper's objectives, methodology, findings and implications. The summary should not be copy paste of the article's abstract. Get top-notch online assignment help now.

To select industry sector follow the next steps:

Use the browser to open the Securities and Commodities Authority

To find the financial reports for the selected companies above:

You should determine if the company selected is registered in Abu Dhabi Securities Exchange (ADX) or Dubai Financial Market (DFM)
Abu Dhabi Securities Exchange (ADX)

Select Products Then Select Equities

When you find the selected company you would open it and download the annual financial report.

Dubai Financial Market (DFM)

Market data Download Centre

Scroll down to the left side and Select Listed Securities

Chose financial reports, and there specify your date for 31/12/2018 (or the end of any of the three required years)

Enter, then you will be given the needed annual reports for all companies, select your company.

Reference no: EM133938072

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