Financial Reporting

FINANCIAL REPORTING AND ANALYSIS ASSIGNMENT



l   It is advisable familiar with the “Framework for the Preparation and Presentation of Financial Statement” (Framework, AASB July 2004)

l   Word limit is 3,000 words all inclusive



REQUIREMENTS

This task involves the analysis of a proposition from any areas of business that is considered to provide challenges to the way in which accounting information is presented to financial report users. The proposition that you analyse should be associated with at least one of the following:

-       Asset recognition

-       Liability recognition

-       Revenue recognition

-       Expense recognition



You are to write a report that satisfies the following requirements : -

-       Your report should demonstrate your understanding of the theoretical aspects of the related course content, which respect to the proposition that you analyse

-       Your report should demonstrate your ability to identify challenges to Accounting Standards, which respect to the proposition that you analyse

-       Your report should demonstrate your awareness of reasoned solutions to the issues being addressed

-       Your report should demonstrate your awareness of limitations to the issues being addressed

-       Your report should refer to relevant Accounting Standards where appropriate, specifically the “Framework for the Preparation and Presentation of Financial Statement” (Framework, AASB, July 2004)



SOURCES OF INFORMATION

WEBSITES : These include the Accounting Standard Board (UK), American Accounting Association, American Institute of Certified Public Accountants, Australian Accounting Standard Board, Australian Auditing and Assurance Standards Board, Australian Securities and Investments Commission, Australian Securities Exchange, CPA Australia, Deloitte’s IAS Plus, Financial Standards Board (US), etc.



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