Answer: 1.According to the article by Elizabeth Knight, Myer’s is trying to incorporate a new way in the marketing of its products to ensure that it remains productive. In the business sector there are large budgetary plans that are set year after year with the aims of increasing sales and getting new customers. According to Elizabeth Knight plans need appropriate strategies in the implementation with good and strong fiscal management te...Read More
Answers: Introduction In this project, we have prepared a brief analysis of whether disclosure of accounting policies should be regulated or not. Further, we have explained that how AASB has taken part in making the global accounting standards and what are the reasons that some of the countries are not following the IFRS accounting standards. Further, in this project, we have discussed the Owners’ Equity and the Debt equity ratio of Nuf...Read More
Answer: Introduction For any reputable organization, the aspect or function of a proper accounting system is a matter that cannot be ignored. In Australia, and the world over the regulation of accounting standards have continuously been fostered so as to curb the vices which normally arise from financial misstatements. For this reason most organizations, irrespective of the level of transactions, have been keen in ensuring that they meet the ...Read More
Answer: Introduction Financial regulation is important to help in proper disclosure of financial information. This paper focus on the importance of financial regulation in the various companies. Financial regulation is important since it will increase the value of the auditors' professionalism. There are also certain key procedures for setting the accounting standards and this is to be done according to the Australian standards of accounting ...Read More
Answer: Introduction The following report has covered the contemporary issues related to the accounting of intangibles. The first article that has been selected is “The accounting treatment of intangibles – A critical review of the literature” written by Daniel and Anis (2011) in Accounting Forum. This article has been selected by our group, as it has covered the importance of intangible assets and how they are being ignored...Read More
Answer: Introduction In the given case, an audit is to be conducted for one of the small client named Chartreuse Enterprises and hence the audit partner of the company has requested the audit assistant to prepare an audit plan for the same based on the trial balance of the client given below. The Trail balance is to be studied and the significant audit accounts which need immediate attention and checking needs to be highlighted. In the ...Read More
Answers: 1: Part (a): Ways through which senior managers at WorldCom managed earnings: Scott Sullivan, the Chief Financial Officer of WorldCom, has distorted the earnings of the organisation by breaching two primary accounting rules, which include capitalisation and accruals. Moreover, the senior managers had overstated the pre-tax earnings of the organisation by disclosing the accrual balance to the profit and loss statement and by capital...Read More
Answer: Analysis of information included in general purpose financial statement The set of financial statements including balance sheet and income statement is called as general purpose financial statement as it includes basic financial information that can be used by various users like creditors, investors, lenders and stakeholders (Henderson et al., 2015). It can be identified that out of total assets 32.09% consists of current assets and 6...Read More
Answer: Introduction Chevron Corporation was established in 1906 and has its headquarters in San Ramon, the U.S. the corporation provides financial management, technology, and administrative services in the U.S. chemical and energy sectors. The operations on the corporation are categorized into downstream and upstream segments. The downstream segment deals with refining, marketing, and transporting crude oil and petroleum products. On the oth...Read More
Answer: Introduction It needs to be discerned that in terms of the various types of the changing economy there has been different types of the operations which are considered with outsourcing of the accounting services. In addition to this, the possible reasons for the corporate failures in Australia is depicted with increased competition in the market and lack of skillful workforce or resources. Moreover, the CEOs and the CFOs are depicted w...Read More
Answer: Introduction The financial statements prepared by the company help to provide financial information required by investors, creditors, management, and analyst to evaluate the performance of the company. There is proper format using which companies have to draft their financial statements so that financial information presented in the report fulfils the qualitative characteristics of the financial information. The report aims to evaluat...Read More
Answer: Introduction Corporate social responsibility is one of the key aspects for all the listed entities as it derives what actually company has performed for the public they serve in. Corporate social responsibility is related with the sustainability accounting as both are related with the accountability of company to its stakeholders. Corporate social responsibility or CSR is the way company manages its business processes in order to have...Read More
Answer: Introduction: This study will provide you a detailed review and explanation about auditing process and its authentication. This reading will be based on the professional practice of auditory procedure which commences with an introduction to compliance and assurance in regards to the audit process. It will provide knowledge of changes in the auditing profession and its assurance aspects in the regulatory organizatio...Read More
Answer: Introduction This report is prepared to highlight the sustainable reporting practices of AGL Energy Limited which is one of the leading corporations operating in the energy sector of Australia. AGL Energy is also listed on the Australian Securities Exchange. It is operating its business as the retailer as well as merchant dealer of energy products and services. The business of AGL Energy is of such nature that it has to make use of va...Read More
Answer: Introduction: A very popular sporting event in Australia, Australian Football League, hereinafter to be referred to as AFL in this document, has entertained not only the people of Australia but also people from other parts of the globe who has followed the annual sporting league due to its intense competitive structure. However, ever since match fixing scandals of numerous matches in the league suffered there has been considerab...Read More
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