entity, it is required to release financial reports that comply with the Australian Accounting Standards Board (AASB) (Deegan 2008:83). Two companies have been chosen to analyse their reports, in particular the disclosures made in their respective reports. The two companies chosen to analyse are Commonwealth Bank of Australia (CBA) and Macquarie Bank Limited (MBL). CBA The Commonwealth Bank is one of Australia’s leading providers of integrated financial services including retail, business
Words: 1166 - Pages: 5
Othman Wan Nordin Wan Hussin Faudziah Hanim Fadzil School of Accountancy Universiti Utara Malaysia Sintok, 06010 Kedah Malaysia. Abstract Cooking the books refers to fraudulent accounting activities undertaken by a business to falsify its financial statements. Thus, the objectives of this study are to investigate what the cooking-the-books activities carried out by businesses consist of, how they conduct them, and what the impact is on the business and its shareholders. The case study sample companies
Words: 5312 - Pages: 22
Chairman’s Statement 3 Directors’ Report & Business Review 4 Chief executive’s Review 13 Key Performance Indicators 14 Risks & Uncertainties 16 employees 16 Social & environmental Matters 19 Annual General Meeting & Other Matters Governance 23 Directors’ Responsibility Statement 24 Directors and Officers 25 Corporate Governance 29 Remuneration Report 41 Independent Auditor’s Report Financials 43 Consolidated Income Statement 44 Consolidated Statement of Comprehensive Income 45 Consolidated Balance Sheet
Words: 3050 - Pages: 13
RMIT International University Vietnam Bachelor of Business (Accountancy) Assignment Cover Page | Subject Code: |ACCT2163 | | | | |Subject Name: |Accounting Theory
Words: 2888 - Pages: 12
TB EXAM QUESTIONS Chapter 1 True False 1.Napoleon found the Italian system of accounting to be inefficient. 2.Venice’s commerce was driven by sea traffic. 3.The Genoese system was the first to imply that unlike items could be compared in terms of a common monetary unit. 4.Double entry bookkeeping quickly had world-wide acceptance, as the British accepted it in the 1400s. 5.When hyperinflation exists, alternative systems to historical cost become necessary. 6. The International
Words: 14274 - Pages: 58
companies have compulsory requrirements for FR at the federal level as specified by the SEC. | | | | Regulation environment:1. Dutch accounting presents several interesting paradoxes. The Dutch have relatively permissive statutory accounting and financial reporting requirements but very high professional practice stds. The Netherlands is a code law country, yet accounting is oriented toward fair presentation.2. Accounting and tax separate3. Dutch Civil Code includes 1970 Act of Annual Accounts. True
Words: 3174 - Pages: 13
affiliated through ownership cannot be considered independent, arm’s-length transactions. As in many matters relating to financial reporting, we look to transactions with outside parties to provide a basis for accounting valuation. When firms are affiliated through a common set of owners, measurements that recognize the relationships among the firms help to provide objectivity in financial reporting. LO4 LO3 LO2 LO1 1 LEARNING OBJECTIVES After studying this chapter, you should be able to: Describe
Words: 22127 - Pages: 89
US GAAP versus IFRS The basics December 2011 !@# Table of contents Introduction .....................................................................2 Financial statement presentation......................................4 Interim financial reporting ................................................6 Consolidation, joint venture accounting and equity method investees .............................................................7 Business combinations ...................................
Words: 18710 - Pages: 75
they decided in the year 1995 to transfer to international standards. Moreover, the transfer was done by following the IASC efforts. In the year 2000 the European Union requested all the companies to follow the IFRS standards when preparing consolidated statements. (Khan, 2008) The directives used by the EU were the most appropriate way to minimize the differences between the twelve European Union countries. According to Dedman (2010) “directives are legislative instruments from the commission to
Words: 2747 - Pages: 11
Assignment 2 Q1) CALLAWAY GOLF SUDZUCKER AG CEMEX S.A.B SOL MELIA SA THAI AIRWAYS B) It is not valid to calculate the profit margin for all the companies above due to the differences in financial reporting systems. The format, level of detail and terminology used in the financial statements are different from one company to another. Q2) As per CALLAWAY GOLF’s site “http://media.corporate-ir.net/media_files/irol/68/68083/AR2011/HTML2/callaway_golf-ar2011_0077.htm” And as per SUDZUCKER’s
Words: 560 - Pages: 3
