Accounting Theory and Contemporary Issues

Running head: ACCOUNTING THEORY AND CONTEMPORARY ISSUES
Accounting Theory and Contemporary Issues
Name of the Student:
Name of the University:
Author’s Note

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ACCOUNTING THEORY AND CONTEMPORARY ISSUES
Executive Summary
The assessment would be considering the business of AGL Energy Ltd for the purpose of
assessing the reporting framework of the business and also analyzing the issues which the
business faces in relation to business condition. The report discusses the role of reporting
framework in a business environment and how the same can be used by the business for building
confidence of the public and restoring the image of the business. The assessment also discusses
the stakeholder’s theory which is associated with the problems which the business of AGL
Energy Ltd faces in current situation. The assessment concludes with recommendations as to
how the business can further improve the reporting framework of the business and also ensure
that transparency is maintained in the preparation of annual reports of the business.

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ACCOUNTING THEORY AND CONTEMPORARY ISSUES
Table of Contents
Introduction......................................................................................................................................3
Discussion........................................................................................................................................4
Issues/ Problems faced by the Business.......................................................................................4
Accounting Requirement.............................................................................................................5
Theories Applicable to the Business............................................................................................7
Theme of the Theory...................................................................................................................8
Conclusion and Recommendations..................................................................................................9
Reference.......................................................................................................................................10

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ACCOUNTING THEORY AND CONTEMPORARY ISSUES
Introduction
This assessment is undertaken with an objective of analyzing the impact of conceptual
framework in the reporting process of a business. The assessment would keep the conceptual
framework of reporting as the base and identify whether the business which is chosen is facing
any accounting problems. The company which is selected for this assessment is AGL energy ltd
which is engaged in the field of energy sector. The new article which is selected states that the
business of AGL has been facing a lot of criticism for driving the prices of gas higher by
exporting the supplies to other countries.
AGL Energy ltd is one of the listed companies in the Australian stock exchange and the
business is engaged in providing both retailing of electricity for domestic use and also provides
gas to the customers. The company has further expanded the business in solar power
(Agl.com.au. 2018). The company operates in customer markets, wholesale business and also in
retailing business.
The business falls under the governance of AASB when it comes to financial reporting of
all financial information of the business and the business is expected to follow all relevant
accounting standards and also stick to the conceptual framework of reporting (Too and Weaver
2014). The discussion section would be showing the reporting framework which is followed by
the business.
The main objective of the assessment is to analyze the problems which is faced by the
business of AGL energy and how the same can be solved by the business. In addition to this, the
assessment focuses on conceptual framework which is followed by the business or the purpose of
reporting of financial information of the business,