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Australian renewable fuel limited and adx limited-accounting

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Reference no: EM131189236 , Length: 2000 Words

Many entities in Australia are required to follow Australian accounting standard in preparing their financial statement as per Corporation Act 2001. Conceptual framework is used by Australian Accounting Standard Board to develop and evaluate accounting standard. Many Australian accounting standard requirements are specific in nature that is they are applicable only to few specific Australian entities. Such requirement may require additional disclosure or may require reporting on regulatory or other issues. Australian accounting standards are applicable to all the entities that are required to prepare financial reports under Corporations Act 2001.

Write a report on "Australian Renewable Fuel Limited& ADX Limited, Accounting Standard

Compliance Requirement in Annual Report

Contents

  • Introduction 2
  • Compliance with Conceptual Framework And AASB 2
  • Comparison of annual report of the Australian Renewable Fuel Ltd and ADX Ltd with regard to the disclosures and standards 10
  • Inclusion of Prudence in Conceptual Framework 11
  • Conclusion 12
  • Reference 12

 

 

Verified Expert

The auditors of the company, Deloitte Touché Tohmatsu, have verified that the financial report of Australian Renewable Fuel has been prepared keeping in mind the Corporations Act 2001. Also the auditors has stated that directors of the company has complied with Accounting standard AASB101 Presentation of Financial Statement while preparing its financial statement and the consolidated financial statement also comply with the international financial reporting standards. (See figure 2)

Reference no: EM131189236

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