Accounting Theory

Running head: Accounting Theory
Accounting Theory
Name of the Student
Name of the University
Author Note

1Accounting Theory
Table of Contents
Executive Summary...................................................................................................................3
Introduction................................................................................................................................3
Part A: Conceptual Framework..................................................................................................3
Requirement (a):.....................................................................................................................3
Requirement (b):....................................................................................................................5
Requirement (c):.....................................................................................................................5
Requirement (d):....................................................................................................................6
Part B: Integrated/Sustainability Reporting...............................................................................8
Requirement (a):.....................................................................................................................8
Requirement (b):....................................................................................................................9
Requirement (c):...................................................................................................................10
Requirement (d):..................................................................................................................11
Requirement (e):...................................................................................................................12
Conclusion................................................................................................................................13
Reference..................................................................................................................................14

2Accounting Theory
Executive Summary
The report is been based upon the contemporary accounting which also show details
of the sustainability report of the company and it also able to describe the conceptual
framework in the company. It show about the Australian company Blackmores limited and
the South African company Anheuser-Bush InBev. It show about the different accounting
framework and the sustainability reporting of the company.
Introduction
Contemporary accounting helps the company to perform different types of role in the
company (Adams 2017). This report show different aspects of the contemporary account and
also it able to show the different sustainability and conceptual framework of different
company. The report can be separated into two sections. The first section of the report is able
to show the different types of the conceptual framework in regards of the financial reporting.
The second section of the report show the company is able to show the different accounting
framework which the company is using and also it able to show the different sustainability
report of the company. It also able to show the GRI framework and also the Integrated
Reporting under IIRC (Adams 2015). The report is been based upon Blackmores limited
which is an Australian company and Anheuser-Bush InBev which is a South African
company.
Part A: Conceptual Framework
Requirement (a):
As per the decade it can be said that there is a very big background in regards of the
conceptual framework as many big nation are involve in the same such as Australia, UK and
many other organization which have adopted the conceptual framework in regards for the
preparation of the financial reporting of the company in accordance of the IASB (Atkins &

3Accounting Theory
Maroun 2015). Conceptual framework help the investors to get the confident in the financial
statement of the company as in late 1934 the economic slum which have come up in USA
have directly affect the individual investors as they were not able to invest in the company so
to overcome the problem the government came up with the use of the conceptual framework
so that it can able to clear the problem and also it will help them to gain the confidence of the
individual in the company financial reporting. The responsibility of the developing and
managing of the conceptual framework is been given to FASB so that proper framework can
be maintain by the authority (Bebbington, Unerman & O’Dwyer 2014).
The accounting in the Australia has also able to adopt the conceptual framework in
their financial reporting in regards of the AASB. The use of the conceptual framework in
Australia is due to the affect of the global competition as if all will be able to use the same
accounting framework in the reporting than it will able to help the user to compare the
financial statement of the company with the other company so that it can able to know the
performance of the company and able to know the better company so that it can able to invest
properly in the company (Brown & Dillard 2014).
As per the UK is been concern before the adoption of the conceptual framework in the
company it used to use the rules based accounting standard which does not have any relation
with the global accounting standard as it does not have any similarities with the global
accounting standard as it is only be applicable to the UK company (Cheng et al.,2014). So to
overcome the problem and able to make proper accounting standard, the UK government is
able to apply to the IASB and able to develop the conceptual framework in the financial
reporting of the company (Churet & Eccles 2014).
Their are many other nation except the one which are been mention above and the
reason they able to shift to IASB in order that it can able to match the global accounting