Accounting Concepts and Standards: A Case Study of SCA Property Group

accounting

Contents
Introduction...........................................................................................................................................2
SCA property.........................................................................................................................................3
Descriptions of Accounting Concepts....................................................................................................3
Conceptual framework and the Issue of Measurement........................................................................5
Issues related to Accounting Standard that are not effective-..............................................................6
Qualitative characteristics.....................................................................................................................7
Conclusion.............................................................................................................................................8

Introduction
With the increasing dynamic business conditions, it is seen that it is mandatory for every
organisation to foresee and adopt proper accounting rules, regulations, procedures, and the
conceptual framework in order to provide a standard so that it can assist financial transactions
in the financial statements (Gaynor, Kelton, Mercer, & Yohn, 2016). Complying with the
conceptual framework is done with a vision to set up a centralisation in domestic and
international reporting frameworks. It is seen that a change is not easily identified while
observing the AAPC (Australian Accounting Profession community). This report brings out a
discussion on conceptual framework and accomplishment of accounting standards in order to
accept the changes related to newly introduced conceptual framework. This report analysis
the concept of the related compliance of the conceptual framework and accounting standards
by the company named as “SCA property group.” Financial reporting defines a system of
goals and objectives that has been accomplished and it has finally led to formulation (Gaynor,
Kelton, Mercer, & Yohn, 2016).
It performs as a framework that has set out some of the accounting standards that assists to
solve some of the accounting issues. It is seen that the company comply with the Corporation
Act, 2001 that clarifies the respective assets and liabilities when defending according to the
proceedings regarding the details of the liabilities, rules, premium paid, policies, and other
many proceedings (Samaha, and Khlif, 2016). This analysis will handle each of the
transaction that is related to handle the liabilities and assets (Gaynor, Kelton, Mercer, &
Yohn, 2016). The given report examines and put an check on the quantitative approaches and
features to the information elaborated in the financial reports when inspecting the assets and
the liabilities. Some of the issues have been considered to the non-compliance of the

standards and policies, which is occurring with the demand of AASB (Samaha, and Khlif,
2016).
SCA property
The company is a stable structure, which was created by the renowned organisation
“Woolworths Limited” as a landlord for numerous own shopping centres in 2012 (SCA
Property, 2018). The trust created has transferred its ownership to the SCA property when
transferring the ownership to SCA group (Hu, Zhang, Li, & Sorensen, 2015). The group
owns diversified shopping centres of portfolio located in Australia. The company operates 96
assets with 85 wholly owned shopping centre with eleven in SURF funds (SCA Property,
2018). On November 2018, the company has valued portfolio of $3050.4 million. The
company raised capital at 472 million dollars at the time of listing in ASX (SCA Property,
2018). The group focuses on convenience retailing with the assistance of ownership and the
quality management of portfolio at regional shopping centre and the freestanding retailing
assets. These assets have proven to remain resilient because of exposures to non-discretionary
tenants. Convenience assets do have strong weight to the sales food based on grocery
especially supermarket (Hu, Zhang, Li, & Sorensen, 2015). SCA group gets advantages from
the long-term leases to both Wesfarmers as well as the Woolworths Group limited. The group
consists of two internally managed real investment trusts with stapled together in order to
form stapled listed vehicle. Their portfolio consists of 77 shopping centres that are valued at
2511.7 million dollars (SCA Property, 2018). The property portfolio consists of investment
and acquisition of 38.3 million dollars. The weighted average capitalisation rate is decided at
6.33 percent (SCA Property, 2018).
Descriptions of Accounting Concepts
The main basis of preparation is as per the AASB 3 for business combination. There reports
are general goals related financial reporting with the assistance of preparation of AAS