This assignment requires a consideration of accounting theory concepts with critical analysis with application to General Purpose Financial Reporting by corporations

This assignment requires a consideration of accounting theory concepts with critical analysis with application to General Purpose Financial Reporting by corporations. Students are required to prepare a comprehensive report directed to an Australian ASX Top 100 listed corporation detailing a critical analysis of the effectiveness of the corporation to meet the obligations of the conceptual framework of accounting. The summary report should include data extracted from the General Purpose Financial Report relevant to the material analysed.SUGGESTIONS REGARDING ASSIGNMENT 1USE YOUR INDEX WISELY……Go to Balance Sheet, Income Statements, NOTE 1 (methods adopted by company) and other notes from the financial reports, Remuneration Report, Auditors ReportREMUNERATION REPORT – SCREEN SHOT OR TAKE ELEMENTS FROM ACTUAL REPORT IN RELATION TO EXECUTIVE REMUNERATION. LINKED TO PROFIT? SHARE PRICE? OR OTHER – consider how this drives culture with organisations including a desire to obtain profit to receive bonus payments.ISSUES WITH REMUNERATION can be SELF INTEREST – SHORT TERM DECISION MAKING, TELEOPATHY (unhealthy pursuit of goals), manipulation of accounts, not adhering to the conceptual framework, aasb issues like in leasesIn your discussion using examples from annual reports (of many companies) will assist however focus should be on your company(ies)GPFR – general purpose financial reports – for users to make financial decisionsperhaps to affect profit rather than in accordance with AASB or conceptual frameworkINVENTORY – OVERSTATE- aasb VALUED AT COST OR LOWER OF COST OR MARKET.ACCOUNTS RECEIVABLE – OVERSTATE – ESTIMATION OF PROVISION FOR BAD AND DOUBTFUL DEBTS – UNDERSTATE YOUR PROVISIONPPE – OVERVALUE – EXCESS VALUATION (PRUDENCE) – DEPRECIATION – CHOOSE METHODS perhaps to affect profit rather than in accordance with AASB or conceptual frameworkLIABILITIES – LEASES – INTANGIBLE ASSETS – NOTES – LOOK FOR EVIDENCE OF ANY LEASINGContingent legal liabilities – where companies have had to pay out legal obligations due to issuesLEASES HAVE BEEN LEFT OFF BALANCE SHEETS – LIMIT RATIO – ATTRACT INVESTORSOverstated Revenues, sales returnsUnderstated expensesTAXATIONTRANSFER PRICING – FACEBOOK -TAXATIONEg.TRANSFER PRICING – FACEBOOK -3-5 BN additional tax paymentsDISCUSS PRUDENCE – WHAT IS PROPOSED FOR UPDATING THE CONCEPTUAL FRAMEWORKHOW YOU THINK THIS WILL AFFECT THE REPORTING? BENEFITS AND CRITICISMS (cpa eg)The inclusion of prudence, then removal and now addition again by accounting.Or are the issue much more complex than that? Do accountants adhere to the CF? Perhaps addressing remuneration and other issues would achieve better outcomes? Etc etc etc . WITH BEST NURSING TUTORS TODAY AND GET AN AMAZING DISCOUNT The post This assignment requires a consideration of accounting theory concepts with critical analysis with application to General Purpose Financial Reporting by corporations appeared first on BEST NURSING TUTORS . Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!Use Discount Code “Newclient” for a 15% Discount!NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you. The post This assignment requires a consideration of accounting theory concepts with critical analysis with application to General Purpose Financial Reporting by corporations appeared first on The Nursing TermPaper.  “Are you looking for this answer? We can Help click Order Now”