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Does the current accounting framework meet the needs

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Reference no: EM131600492

Assessment

Topic: Does the current accounting framework meet the needs of the users of financial reports as prescribed in the objective of the Conceptual Framework of Accounting?

How the conceptual framework revision to include Prudence is likely to address the disparity in Corporate Reporting is a requirement in your analysis.

- Task Details: Download the latest annual report of any two listed companies.

- Annual Reports are available on the company website or ASX website.

- Analyse the conceptual framework with reference to the annual reports of your chosen companies in light of the reporting requirements imposed on accountants and those charged with governance of corporations.

- Your analysis may include the following:

- Are the annual reports in compliance with the conceptual framework and AASB standard requirements?

- You need to use extracts from the annual reports to support your analysis.

- Provide screen shots of the relevant sections from the reports in your assignment.

- If they are not in compliance, explain the reason.

- How the conceptual framework revision to include Prudence is likely to address the disparity in

- Corporate Reporting

- You may find the explanations in the notes to the financial statements or in the Director?s Report.

- Compare and contrast the two annual reports, identify the differences in disclosures of these

The assignment should include the following parts:

(a) A title / cover page, which indicates basic information such as Subject title, Subject code, Trimester number, Assignment title, group members? full names and KOI student numbers, word count and name of the tutor;

(b) Executive Summary;

(c) Table of Contents;

(d) Main contents - Introduction, analysis using suitable headings and subheadings, Conclusions and Recommendations, Appendices (if any);

(e) References (using Harvard - Anglia style);

Article - Reporting Entity: General purpose vs. Special purpose financial reports

Source:

https://www.dropbox.com/s/dsdgc580qo9uofa/Conceptual%20Framework%20Summary.rar?dl=0

Verified Expert

"The assignment is regarding how the The conceptual framework makes it possible to present the financial statements in an unbiased manner and present the true reflection of the business operations results and how companies use the same to prepare annual reports. The paper is prepared in Microsoft word with Harvard referencing".

Reference no: EM131600492

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Reviews

inf1600492

9/14/2017 6:21:09 AM

Thanks you so much, really satisfied with the content, just moving around rather focus on answering the real problem.. Focused answers what is being asked. I am really satisfied as you paid attention about requirements.. Word count is followed for every question. You did follow the mentioned reference style as well. Thanks a lot

len1600492

8/14/2017 3:13:27 AM

Marking Guide: Analysis 30% Research – extent and application 30% Recommendations/conclusions 20% Presentation 20% This mark will be scaled to a mark out of 20 subject marks

len1600492

8/14/2017 3:13:18 AM

THERE IS A NEED TO FOCUS IN YOUR ASSESSMENT ON THE QUESTION AND NOT ON COMPANIES SELECTED. COMPANIES SELECTED WILL REPRESENT A DEMONSTRATION ON THE CRITICAL ANALYSIS YOU HAVE UNDERTAKEN.

len1600492

8/14/2017 3:13:12 AM

• Reference to material of the course and a critical analysis of the annual reports is required. • Students are to critically analyse and develop supported recommendations and conclusions, in referenc to the relevant accounting framework (see Topics 1-5). • The analysis and supported recommendations need to be formatted into a professional report as would be expected in a modern organisation by management and clients. Focus on quality not quantity with the assignment!!!! Answer the question. Your assignment should include recent and relevant academic references (intext and other).

len1600492

8/14/2017 3:13:05 AM

THE ASSESSMENT FOCUS NEED S TO BE ON WHETHER ACCOUNTING IS FULFILLING ITS PURPOSE AS AN INFORMATION SOURCE FOR FINANCIAL DECISIONMAKING. YOU MIGHT LIKE TO CONSIDER GENERAL PURPOSE FINANCIAL STATEMENTS AND IF THIS IS SATISFYING THE NEEDS OF USERS SUCH AS INVESTOR, SHAREHOLDERS ETC. AS THIS IS A CRITICAL REVIEW YOU SHOULD CONSIDER WHERE THESE NEEDS ARE BEING MET AND PERHAPS WHERE THEY ARE NOT BEING MET – INCLUDING SUGGESTIONS FOR IMPROVEMENT TO ACCOUNTING.

len1600492

8/14/2017 3:12:54 AM

Hi I have one more assignment due on 18 this is very critical assignment for subject: contemporary issues in accounting, IN THIS ASSIGNMENT WE CANNOT USE COMPANIES LIKE : BANKS, INSURANCE COMPANIES, AND MULTINATIONAL LIKE WESTFARMERS. OTHER TASK DETAILS ARE IN ATTACHEMENT 1, I am also adding some more files which we receive from our teacher thanks.

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