BAO2203: Corporate Accounting - Metcash Ltd - Report Writing Assignment Help

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Corporate Accounting Report Writing Assignment Help

Task: Using the latest annual reports of the following three listed companies,

• TPG Telecom Ltd (https:// www.tpg.com.au)
• Metcash Ltd (https://www.metcash.com/) ; and
• National Australia Bank Ltd (https://www.nab.com.au/)

prepare three separate reports, addressed to the directors of each of these companies to suggest ‘Revenue Recognition Policy(ies)’ in compliance with the new Australian Accounting Standard AASB 15 Revenue from Contracts with Customers (AASB 15). The reports should describe the objective, core principle and scope of AASB 15 specific to each industry. Also describe how the five-step model for revenue recognition in AASB 15 will be distinctively applied the three companies that belong to different industries.

Part B What are the key differences between the definition and recognition criteria for, 1) ‘income’ under the Conceptual Framework for Financial Reporting, and 2) ‘revenue’ under AASB 15? Note: To answer these question adequately, you must read widely. There are many academic and professional articles written which you must use to support your arguments. Do not provide your opinions, instead provide EVIDENCE to justify what you are saying.

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