Issues on financial reporting of listed companies

Assignment Help Accounting Basics

Reference no: EM133861092

International Financial Reporting Standards

Program - Accounting

Assessment - Project & Oral Presentation

Description of Project
Students in groups will study the accounting treatment for selected issues on financial reporting and make necessary recommendations to improve financial reporting
(Outcomes: 1,2,3& 4)
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 form groups of three at maximum. They should select three companies from one industry sector (list of industry sectors and companies are attached in the guide)
For each company selected, the comparative financial statements for the 2023/2024 are 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:

4. Compare the three 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 is 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 major shortcomings in the disclosure notes for your selected companies (indicate if there are any missing disclosure requirement 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.
Group 1: Revenue from contracts with customers, IFRS 15.

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

3. Does Applying IFRS 15 Affect the Quality of Earnings of Cambodian-Listed Companies?

Group 2: Share Based Payment_ IFRS 2

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.

Reference no: EM133861092

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