Analysis of REA Group Annual Report

Accounting Assignment

David FERNANDES SAIBRO
KINGS OWN INSTITUTE
Date: 26th March, 2019.
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EXECUTIVE SUMMARY
In the following assignment the annual report of REA group has been downloaded and analyzed to see whether the
company has complied with the provisions of conceptual framework of accounting and included all the qualitative
and quantitative characteristics in preparation of the same. It is very important that companies based on these
framework as it is helpful to the users of the financial statement and annual report to understand what are the areas
in which the company has failed in case it has. These qualitative and quantitative features help in making the annual
report of the company more user friendly.
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TABLE OF CONTENTS
EXECUTIVE SUMMARY................................................................................................ 2
INTRODUCTION........................................................................................................... 4
ANALYSIS.................................................................................................................... 4
1) MEASUREMENT REQUIREMENTS............................................................................4
2) QUALITATIVE CHARACTERISTICS OF ANNUAL REPORT...........................................4
3) ENHANCING QUALITATIVE CHARACTERISTICS.......................................................7
4) ARE THE USERS OF FINANCIAL REPORTS................................................................8
5) THE CONCEPTUAL FRAMEWORK SAYS USERS ONLY NEED A BASIC KNOWLEDGE OF
ACCOUNTING.............................................................................................................. 8
6) MET THE REQUIREMENTS OF GENERAL PURPOSE REPORTING FRAMEWORK............8
CONCLUSION............................................................................................................... 9
REFERENCES............................................................................................................. 10
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