Solution-Compliance with aasb, Lendlease Company was

Compliance with aasb

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Reference no: EM131189263 , Length: 2300 Words

Tamawood Ltd & Lendlease Group

Compliance with AASB

Executive Summary

Lendlease Company was established in 1958 by G K Dick with the object to run the company in a profitable and ethical manner. This Construction Company is one of the Largest Listed Multinational Companies in Australia. It is a much diversified company not only by the variety of services it provides but also geographically.

Another well-known Construction Company which is shaping Australia in a rather beautiful way is Tamawood Limited. It was formed in 1989 with four staff affiliated with five builders. It is known for providing beautifully architect-inspired and designed homes. It calls itself ‘system company’ and not just home building company.

Table of Contents

Introduction 2
Compliance with Conceptual Framework and Australian Accounting Standards 3
Comparison of annual report of the Tamawood Ltd and Lendlease Group with regard to the disclosures and standards 10
Inclusion of Prudence in Conceptual Framework 11
Conclusion 12
Reference 13

Verified Expert

Conceptual framework is used by Australian Accounting Standard Board to develop and evaluate accounting standard. Australian accounting standards are applicable to all the entities that are required to prepare financial reports under Corporations Act 2001. 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. Many entities in Australia are required to follow Australian accounting standard in preparing their financial statement as per Corporation Act 2001.

Reference no: EM131189263

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Compliance with aasb

Reference no: EM131189263 , Length: 2300 Words

Reference no: EM131189263

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