Analysis of Real Accounting Data in a Simulated EnvironmentEssay Preview: Analysis of Real Accounting Data in a Simulated EnvironmentReport this essayBAO2202Financial AccountingAssignment Semester 1 2012Analysis of Real Accounting Data in a Simulated EnvironmentBackground situation of simulation:You are working in the Investment Advice section of the strategic planning department of a major organization. Your organisation is considering the Australian equities market.
Management have called a meeting of you and three of your colleagues, and during the meeting have discussed the effects of the legal need of public listed corporations to conform to the Australian Financial Reporting Standards. They have asked you and your colleagues to sample a selection of ASX listed companies, and establish the extent to which companies comply in detail with the spirit of the law. Management are curious about the compliance in regard to several particular areas of the Standards, in particular, leasing, Equity statements, including the recording of management bonus options and shares, Cash Flow Statements, Intangibles, Tax Effect Accounting, and Segment activities. Management however believe that as an indicator, only four of these need to be investigated.
The Panel is also investigating the fact that a number of entities that are public listed corporations (such as pension funds and Australian public companies) have, in their annual reports, reported performance or market performance over three years, either a declining market for their shares or a rising market. The Panel expects that the extent to which public listed companies have experienced a decline in market price in recent years will help to explain why management view them as the only known group that have experienced such a recent decline in price.
What is the nature of the inquiry?
The Panel needs a thorough, ongoing investigation into the fact that a number of Australian listed corporations are being affected by the Financial Reporting Standards. The Panel believes that they are acting as part of a legal cover-up, with the intention to gain more information. The Panel recommends the formation of a independent national independent, independent research force dedicated to the investigation.
The new report has been designed to explore questions of transparency, accountability and public service neutrality for a period of time and provide a framework for the review, which would further identify the reasons for such actions. The Panel recommends that the Panel submit a response to the new Report under the Public Service and Consumer Confidentiality Protection Act 2012-9. The Inquiry Report should be submitted and published under the Freedom of Information Act and relevant legislation and on the basis of an audit of a number of Government and public service organisations. Any information which is under review should be submitted electronically in a secure envelope and transmitted to:
Public Service and Consumer Affairs Bureau
Public Service and Consumer Affairs Bureau, Canberra, (04) 858 9200.
The Australian Financial Reporting Standards Committee shall submit an update to the Panel on 28 September 2014.
To find out more information or to submit your question for the Inquiry Report, please contact:
Public Service and Consumer Affairs Bureau, Canberra, (04) 858 9200.
Public Service and Consumer Affairs Bureau (PIA);
(04) 862 852 020 for further information about the inquiry.
Required:Your assignment is to complete a report to management in this regard.You are to form into groups of four for the submission of this assignmentThree weeks before due date, you may commence testing your assignment for originality (30%) on TURNITIN which will be available on WebCT/Blackboard.You must submit a printed copy of the assignment, the companys Annual Report and the TURNITIN report when you hand in the assignment.This report is to meet the report style set out in Campbell G. “The Little Black Book”You are to select one company from the ASX list of the top 100 companies.You are then to obtain a copy of that companys latest annual report and undertake four of the following analyses:Examine the companys Leasing, and analyse the nature of any finance leases, and any operating lease arrangements. In particular you are asked to ascertain if the information provided is in compliance with the relevant Accounting Standards.
http://amzn.com/s/d1sJYf8YoY/IMM/8222959?curr_=0.000099%20p=12&year_ends=2008&catid=1267&sr=813
Required:Your assignment is to complete a report to management in this regard.You are to form into groups of four for the submission of this assignmentThree weeks before due date, you may commence testing your assignment for originality (30%) on TURNITIN which will be available on WebCT/Blackboard.You must submit a printed copy of the assignment, the companys annual report and the TURNITIN report when you hand in the assignment.This report is to meet the report style set out in Campbell G. “The Little Black Book”You are to select one company from the ASX list of the top 100 companies.You are then to obtain a copy of that company’s latest annual report.Examine the company’s Leasing, and analyse the nature of any finance leases, and any operating lease arrangements. In particular you are asked to ascertain if the information provided is in compliance with the relevant Accounting Standards..
http://amzn.com/s/d1sJYf8YoY/IMM/8222959?curr_=0.000099%20p=12&year_ends=2008&catid=1267&sr=813
Required:Your assignment is to complete a report to management in this regard.You are to form into groups of four for the submission of this assignmentThree weeks before due date, you may commence testing your assignment for originality (30%) on TURNITIN which will be available on WebCT/Blackboard.You must submit a printed copy of the assignment, the companys annual report and the TURNITIN report when you hand in the assignment.This report is to meet the report style set out in Campbell G. “The Little Black Book”You are to select one company from the ASX list of the top 100 companies.You are then to obtain a copy of that company’s latest annual report.Examine the company’s Leasing, and analyse the nature of any finance leases, and any operating lease arrangements. In particular you are asked to ascertain if the info provided is in compliance with the relevant Accounting Standards.
http://amzn.com/s/d1sJYf8YoY/IMM/8222959?curr_=
Examine the Statement of Equity (or equivalent) section of the accounts and investigate if the data provided conforms with the relevant Accounting Standards.
Examine the companys Cash Flow Statements and confirm that the information provided conforms with the relevant Accounting Standards.Examine