Tuesday, 1 December 2015

BAO2202 Financial Accounting Assignment

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
  1. Synopsis/abstract
  1. Introduction
  1. Part 1
  1. Part 2
  1. Part 3
  1. Part 4 (For 4 members group)
  1. Conclusion
  1. Bibliography, referencing and citations
  1. Evidence of group meetings

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.

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