AYB227: International Accounting - BHP Group Limited - Accounting Assignment Help

Assignment Task:

Background:
As business and financial markets have become increasingly globalized, the significance of the differences in the international financial accounting policies, and disclosure and reporting practices of global corporations, has become more important, especially from the perspective of management, financial analysts, shareholders, pension/superannuation funds and other users of financial statements. For these key interest groups, it is vital not only to be aware of international differences in financial accounting policies and practices but also to be able to assess their impact on earnings/profits and assets and key performance indicators and ratios, for example, return on assets. Additional key issues in globalized business operations relate to an understanding and appreciation of cultural diversity issues and the global trends in international taxation and international audit.

Purpose: 
Completion of this cross-cultural and cross-discipline project is of critical importance to your understanding of the key issues that global corporations and their stakeholders experience on a daily basis. The knowledge required to successfully complete your major project is also of critical importance to your final exam preparation. As highlighted in the weekly submissions’ assessment task, by completing the weekly tutorial work, with appropriate references to the relevant mandatory readings, you are consistently working towards the completion of both your project and the required project reference list.

A: Preliminary Explanations for the Selection of the Three Nations Across Cultural 
Groupings and the ONE Industry
In your introduction: provide a summary explanation of why you have selected each of the three nations (one from each of the three different cultural groupings – Anglo-Saxon, Germanic Latin and Asian); 

In selecting your nations also consider whether there are issues of corruption or serious environmental impacts or economic issues which may impact negatively (or positively if there is a lack/absence of corruption and environmental issues etc.) on any potential investment in each of the nations you have selected.  

For example, consider economic issues such as Post-BREXIT impacts on Britain and its impacts on FDI into the UK generally. You need to also consider major environmental and corruption issues which may be occurring in nations – such as the extreme pollution crisis in Canada and China and the recent Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry in Australia. 

In your justification for your selection of nations, you must use the 2019 AT Kearney Report and its Confidence Index and the Top Factors highlighted within this report which are used by investors to determine Foreign Direct Investment Decisions. This Report will be discussed in lectures, tutorials and presentations – details are also provided in the final pages of this task sheet; and  

(b) provide a preliminary and summary explanation of why you have selected the industry for investment in all three of these nations. That is, only ONE industry must be selected from the three industries identified by your clients. Refer to an example expert report on the Global Retail Industry in the final pages of this task sheet. These, independent, expert reports need to be used to support the selection of your industry for investment for your clients.

B: Comparative Analysis of Three Nations – PRE-IFRS Development Factors, Cultural Dimensions and Accounting Values and Their Impact on POST-IFRS Accounting Values and Financial Information Quality and Foreign Direct Investment Risk (FDIR)
In entering into this new investment project, the BHP Board of Directors are aware that the IFRS major global convergence project has been developed since the major Economic Crisis in 1987, and are interested in understanding, firstly, what financial reporting factors/issues contributed to this event. They are also interested in obtaining your advice as to whether the IFRS project has been successful in lowering foreign direct investment risk globally. In order to provide the relevant information to the Directors in terms of each of the three nations you have selected you are required to:

Provide a comparative analysis of the key (most important) PRE-IFRS development factors of each of the three nations selected;

Provide a comparative analysis of the PRE-IFRS cultural dimensions identified for each nation within the Hofstede model and discuss how the PRE-IFRS development factors outlined in Question Two above have impacted on these dimensions – NOTE: Do NOT use the Hofstede site/scores in this analysis – refer to class discussions;

Provide a comparative analysis of the PRE-IFRS accounting values that are then associated with each of these country-based sets of cultural dimensions as established within the Gray model and discuss how the PRE-IFRS development factors and the cultural dimensions discussed in Questions Two and Three have impacted on these accounting values; and 

Summarise the major changes in the financial reporting/accounting processes in each of the three nations you have analysed in the POST-IFRS era. In your answer, identify the date each nation adopted the IFRS framework and provide a summary comparison table of the key accounting values in each nation in a PRE and POST-IFRS comparison. In your view, has the quality of the financial information provided by each nation’s global corporations improved in the POST-IFRS era? Has the FDI risk for investors been reduced? Why or Why Not?

C: Overall Investment Recommendation
Using all of the information obtained from your cross-cultural comparative analysis of the three selected nations (pre-IFRS development, cultural dimensions, and accounting values and POST-IFRS accounting values) and your analysis of the industry strengths and weaknesses in each of your three nations, provide an overall comparative conclusion and make a final recommendation to the  Board of Directors as to the best investment option from any of the three nations analyzed within the industry that you have selected, providing reasons for your final recommendation.  

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