ACC80019: Financial Accounting and Theory - Report Writing - Accounting and Finance Assignment Help

Assignment Task:

The Assignment has two sections.  Section A (90 marks) requires you write a research essay.  Section B (10 marks) requires you submit a short piece titled “Reflecting and Improving”.  Your final score out of 100 will be converted to a score out of 40.  

SECTION A

Assume you are a summer vacation intern at the Melbourne office of an international accounting firm and have been assigned to produce a report for a partner of the firm.  Specifically, the partner requires you to download and read the 30th June 2017 and 2018 financial statements of AXSESSTODAY LIMITED, CROWN RESORTS LTD, and WISE TECH GLOBAL LTD.  The report must:

1. explain:  

• the accounting policies adopted;

• the disclosure of changes in accounting policies (if any);

• the disclosure of changes in accounting estimates (if any);

• how errors have been treated (if any);

• how events after the reporting period have been treated (if any);

• the role of materiality. 

2. critically evaluate accounting quality by assessing accounting policies and estimates

   1. consider the various pressures, many of which are political in nature, that influence the accounting standard-setting environment

   2. consider the implications of entities making particular accounting disclosures, whether voluntarily or because of a requirement of an accounting standard or some other form of “regulation”

   3. understand the possible implications of an entity making particular accounting choices and disclosures

3. assess whether you find the provided information strengthens or weakens the usefulness of the financial statements. 

4. In an appendix, show a comparison of accounting policies and estimates used by Crown Resorts Ltd and a rival company Tabcorp Holdings Ltd (for 2018 only).      

The report should include some background material about the three companies including any more recent information about the company, and as necessary refer to relevant sections of the Corporations Act 2001 Part 2M.3 FINANCIAL REPORTING and relevant accounting standards including paragraph numbers.

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