ACCOUNTING FINANCIAL ANALYISIS REPORT.

Running head: ACCOUNTING FINANCIAL ANALYISIS REPORT
Accounting Financial analysis report
Name of Student:
Name of the University:
Authors’ note

ACCOUNTING FINANCIAL ANALYISIS REPORT1
EXECUTIVE SUMMARY:
This completed report is providing a brief idea about the AASB 16 plant, property and
equipment. The application of AASB on Caltex limited and the probable impacts on overall
financial statements. In the first part of this report is providing the basic idea about
accounting policies and the effects of specific changes in polices. Next to this report is
presenting the annual report of the firm for the year 2018. The accounting estimates and
policies applied by the firm in the plant, property and the equipment have been explained.
The accounting policies implemented by the firm are all appropriate according to the
Australian accounting standard.

ACCOUNTING FINANCIAL ANALYISIS REPORT2
Table of Contents
Introduction................................................................................................................................3
Discussion:.................................................................................................................................3
Answer to question 1:.............................................................................................................3
Answer to question 2:.............................................................................................................4
Answer to question 3:.............................................................................................................6
Answer to question 4:.............................................................................................................7
Conclusion..................................................................................................................................7
References:.................................................................................................................................9
Appendix:.................................................................................................................................11

ACCOUNTING FINANCIAL ANALYISIS REPORT3
Introduction
According to the provision issued under AASB 116, the accounting treatment for
Plant, Property and Equipment is needed to present in the financial statement for providing
the overall financial condition of an organization during a particular time. The primary issues
for submitting the accounts for Plant, Property and Equipment is to recognize the assets,
determination of carrying amounts of such assets and also the depreciation amount that
charged and impairment losses that to be known about them (Laing and Perrin 2014).
Here for recognition, the plant, property and equipment selected a company which is
named as Caltex Limited. Caltex Limited Company is an oil company, which was established
in the year 1936 with the joint venture between the Texas Company and Standard Oil of
California (Caltex 2018).
Discussion:
Answer to question 1:
Selecting and changing Accounting policies as per AASB 108:
In accordance with the provision issued under AASB 108 paragraph 14, an entity
shall need to change in accounting policies if it is required as per the relevant Australian
accounting standard. The results of financial statements are providing the reliable and more
accurate and reliable information about the effects of transactions, other related events and
conditions on organizations’ financial position, performance or generated cash flows
(Standard 2015).
As per paragraph 15, generally, the users of financial statements are required to be
able to compare the financial statements of an organization’s financial positions, performance