Purpose of the assignment
The assignment provides you the opportunity to
develop in-depth understanding of measurement and recognition issues related to
financial accounting. As accountants, we are concerned about providing decision
useful information to the users of financial statements for their decision
making. In order to provide decision useful information to the users of
financial statements, accountants often require applying guidance given in
accounting standards by using their judgment.
Required:
Your assignment is to prepare a research
report.
You have to form either groups of three or four
students for the submission of this assignment.
Three weeks
before due date, you may commence testing your assignment for originality (30%)
on TURNITIN which will be available in VU Collaborate.
You are
required to select a company from the ASX. Click on the following URL for the
list of listed companies. You are
then to obtain copies of those companies’ latest annual reports and investigate three areas if there are 3
members in your group, otherwise four of the following areas:
1. Leasing
a. Critically discuss the measurement
and recognition requirements of the relevant accounting standard using research literature.
b. After reviewing the most recent financial
statements of an Australian firm, critically analyse the measurement and
recognition disclosure provided the firm. Discuss the firms’ disclosure to
leasing to explore firms’ compliances with the relevant Australian
Accounting Standard.
c. Suggest improvements to accounting standard
and firms’ reporting practice by using your arguments with the help of research literature.
2. Liabilities including provisions and contingent liabilities (excluding
lease liabilities)
a. Critically discuss the measurement
and recognition requirements of the relevant accounting standard using research literature.
b. After reviewing the most recent
financial statements of an Australian firm, critically analyse the measurement
and recognition disclosure provided the firm. Discuss the firms’ disclosure to Liabilities including provisions and
contingent liabilities (excluding lease liabilities) to explore firms’
compliances with the relevant Australian Accounting Standard.
c. Suggest improvements to accounting
standard and firms’ reporting practice by using your arguments with the help of
research literature.
3. Intangible assets
a. Critically discuss the measurement
and recognition requirements of the relevant accounting standard using research literature.
b. After reviewing the most recent
financial statements of an Australian firm, critically analyse the measurement
and recognition disclosure provided the firm. Discuss the firms’ disclosure to intangible assets to explore firms’
compliances with the relevant Australian Accounting Standard.
c. Suggest improvements to accounting
standard and firms’ reporting practice by using your arguments with the help of
research literature.
4. Revenue
a. Critically discuss the measurement
and recognition requirements of the relevant accounting standard using research literature.
b. After reviewing the most recent
financial statements of an Australian firm, critically analyse the measurement
and recognition disclosure provided the firm. Discuss the firms’ disclosure to revenue to explore firms’ compliances
with the relevant Australian Accounting Standard.
c. Suggest improvements to accounting
standard and firms’ reporting practice by using your arguments with the help of
research literature.
|
Structure
of the research report
|
|
|
|
|
|
|
|
|
|
Australian Accounting Standards can be accessed
using the following website
Approximate word Length: 4000 words for four member groups
and 3000 words for three member groups.
No comments:
Post a Comment