Reference no: EM133524186

Case Study: identify and analyse technical issues related to preparing andpresenting financial statements in accordance with Australian Accounting Standards.Specific understanding of one or more topics will be demonstrated by locating and exploringexamples of financial events and transactions of the type that are covered in FinancialAccounting that are referred to in the financial media.To complete the assignment, must select a relevant issue from a recent and credible mediasource (ie a newspaper article or other credible media report made after 1 January 2023) and relate itto the financial reporting requirements of an ASX listed company. An issue will be considered to berelevant if it relates to the Australian Accounting Standards that are taught in Financial Accounting.The links between the issue and the relevant financial reporting requirements should becommunicated in a clear and effective manner.

Question: The assignment requires to conduct research on the application of Australian Accounting Standards by Australian companies. The report should include:

1. A brief summary of the event/transaction/issue.
2. Identification of AASB/AASB's relevant to the situation in 1.
3. Explain how the identified AASB's may be applied.
4. Discuss and analyse the effect that the financial reporting requirements have caused/may cause
on the company's general purpose financial reports.
5. Summarise, including the reason for importance of compliance with AASB's.