Australian Stock Exchange (ASX) - Accounting and Finance Assignment Help

Assignment Task

You will be assigned a pair of Australian Stock Exchange (ASX) listed companies as the case for this assignment. Your pair of companies will be notified to you via the Grades section of Moodie. As this is an individual assignment, each student will receive a different pair of companies.

 
The aim is to explore the accounting policies applied by one or both of the companies in the preparation of their financial statements and identify an instance you find particularly interesting. Examples of accounting policies include those relating to: 
 

• Revenue recognition

• PP&E valuation: cost/impairment or market value model

• Depreciation • Valuation of intangible assets

• If your company is in the mining industry, then the application of the AASB 6 Exploration & Evaluation of Mineral Resources accounting standard

• If your company is in the agricultural sector, then the application of the AASB 141 Agriculture accounting standard  
 

The reason you find something interesting is personal, i.e. it does not matter no-one else finds it interesting, it is enough that you do! After reflecting upon aspects of the financial statements, some reasons why you might find an instance of the use of an accounting policy particularly interesting are: 
 

• You are curious about the apparent consistency/inconsistency of the accounting policy with the new Conceptual Framework (e.g. in relation to definition and recognition criteria of assets, income, etc);

• You query the relevance or reliability of the information that results from the application of the policy 

• you are interested that the companies chose different policies and wonder about the effect of the difference on the comparability of the statements, or perceived quality of the company's reported earnings

• you discovered something that surprised you, or contradicted something you believed. 

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