Corporate Regulation

  • Do your own research and critically discuss whether the financial  accounting and reporting should be regulated or manager should be  allowed to disclose financial accounting information

Accounting Standard Setting

  • Doyour own research and critically explain how the Australian Accounting Standards Board  take part in the global accounting standard setting process (i.e. in  setting IFRS). Why is the IFRS set by the International Accounting  Standards Board (IASB) not compulsory for the member countries of IASB?

Owners Equity

Select 4 public limited companies listed on the Australian Securities Exchange (ASX) that  are in the same industry. Go to the website of your selected companies.  Then go to the Investor Relations section of the website. This section  may be called, “Investors”, “Shareholder Information” or similar name.

In this section, go to your firms’  annual reports and save to your computer your firms’ latest annual  reports consecutively for last four years. Do not use your firms’  interim financial statements or their concise financial statements.  Please read the financial statements (balance sheet, income statement,  statement of changes in owner’s equity, cash flow statement) very  carefully. Also please read the relevant footnotes of your firms’  financial statements carefully and include information from these  footnotes in your answer.

You need to do the following tasks:

  • From your firms’ financial statements, list each item of equity and  write your understanding of each item. Discuss any changes in each item  of equity for your firms over the past four years articulating the  reasons for the
  • Provide a comparative analysis of the debt and equity position of the four firms that you have

 
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