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Business Management

Question

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Prepare a 2 page newsletter that identifies and summarises changes / developments and news in the financial reporting environment for the period from 1 December 2016 to 17 March 2017.
Detailed guidelines for completing this task:
1. Identification of changes and developments
This will involve extensive research on a number of sources over the required period. You will need to identify and consider a range of developments/changes such as:
•    Technical issues: for example the issue of new accounting standards, amendments to accounting standards, updates on AASB or IASB projects in progress, outcomes of AASB or IASB meetings, amendments to ASX listing rules.
•    Regulation and monitoring of financial reporting: for example ASIC reviews on financial reporting.
•    Political influences or other potential developments. 'Political' does not only mean action from politicians – it would also include lobbying/actions by other groups to promote their own interests – for example there may be articles about companies, or particular interest groups such as Group of 100, saying that if certain accounting standards are introduced this will disadvantage or have a negative impact.
You will need to consider both local (Australian) and international sources and developments.
The restriction of a 2 page newsletter means that you need to use your own judgment as to whether to include information about specific news items and changes / developments, and how much information to include. It is not intended that you provide complete details of changes / developments (although you may consider in particular cases that more detail is needed).
Given the target audience, it would be assumed that they have a working knowledge of common terms and abbreviations (such as AASB, IASB), so abbreviations may be used

Business Management

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Task Complete all questions below. All workings, when appropriate, must be shown to substantiate your answers. Question 1 [40 marks] Topics 1 to 3 - Consolidation: Principles, accounting requirements, intra-group transactions and non-controlling interests Parent Ltd acquired 80% of the issued shares ...

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National Automotive Policy (NAP)Given  the  significant  challenges  facing  the  automotive  industry,  in  particular  globalization, economic liberalization and increasing competition, the Malaysian government felt that there is a need to review t ...

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