Consider the two companies illustrated below respond to the following questions.
1. Wesfarmers Limited
2. Woolworths Limited
Assessment 1:
Download the latest annual report of any two listed companies. Annual Reports are available on the company website or ASX website.
Analyse annual reports of your chosen companies in light of the reporting requirements imposed on accountants and those charged with governance of corporations. Your analysis should include the following:
a) Are the annual reports in compliance with the conceptual framework and AASB standard requirements?
b) You need to use extracts from the annual reports to support your analysis.
c) Provide screen shots of the relevant sections from the reports in your assignment.
d) If they are not in compliance, explain the reason.
e) How the conceptual framework revision to include Prudence is likely to address the disparity in Corporate Reporting
f) You may find the explanations in the notes to the financial statements or in the Director’s Report.
g) Compare and contrast the two annual reports, identify the differences in disclosures of these corporations.
h) Reference to material of Advanced Accounting and a critical analysis of the annual reports is required.
Students are to critically analyse and develop supported recommendations and conclusions, in reference to the relevant accounting framework.
The analysis and supported recommendations need to be formatted into a professional report as would be expected in a modern organisation by management and clients.
Assessment 2:
Task Details: Groups are to research one specific issue of their choice relating to accounting related social accountability that is prominent in today’s Australian business environment. As a result of their research groups need to develop a presentation detailing the issue, including examples, and explaining the implications for various stakeholders. The presentation should conclude with supported specific recommendations as to how organisations and their accounting advisors should proceed in light of the analysis.
Assessment 3:
Task Details: The exam will require students to critically evaluate financial accounting information and standards, demonstrating technical accounting skills to prepare comprehensive accounts for given sets of real world circumstances.