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ACFI3009 Contemporary Accounting Issues

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Question:

You should review the copy of the conceptual framework which is in moodle - you can also review week 5 slides - these will help.You need to look at the annual report of your company and answer these questions:
1. Has the company complied with the measurement requirements of the conceptual framework
2. Have they complied with the fundamental qualitative characteristics
3. Have they complied with the enhancing qualitative characteristics
4. Are the users of financial reports (investors/potential investors/lenders/other creditors) able to use the report to make decisions.
5. The conceptual framework says users only need a basic knowledge of accounting - do they need more than this to analyse your company.
6. Have they met the requirements for general purpose financial reporting.You need to use screen prints from the annual report to support your arguments as well as academic arguments etc.

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