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Accounting Theory & Current Issues Assignment

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Added on  2021-05-30

Accounting Theory & Current Issues Assignment

   Added on 2021-05-30

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ACCOUNTING THEORY & CURRENT ISSUES ASSIGNMENT
Accounting Theory & Current Issues Assignment_1
1By student name ProfessorUniversityDate: 20 May 2018.1 | P a g e
Accounting Theory & Current Issues Assignment_2
2Executive SummaryA detailed analysis and a report has been prepared, for the changes that have evolved with theimplication of the International Accounting Standards and IFRS post 2005. The report hasfocused on the application of the International accounting reform in Australia, the changes inreporting and accounting, its importance, the issues being faced by the accountants. The reportreflects that the accuracy level of the financial statements line items and shareholders have beenbenefitted. This has been analysed with the help of the annual report of the company Wesfarmersfor the 2 period, one before 31st Dec 2005 and another one post 31st Dec 2005. The study has alsobeen gone through using one of the article named “Changes in value relevance of accountinginformation upon IFRS adoption: Evidence from Australia” issued in Australian Journal ofManagement by Chalmers, K., Clinch, G., & Godfrey, J. M.2 | P a g e
Accounting Theory & Current Issues Assignment_3
3CONTENTS:Introduction......................................................................................................4Analysis.................................................................................................................................5Changes in Accounting Standards................................................................................5Benefits and disadvantages of adoption of International Accounting Practices.....5Other aspects and implication..................................................................6Changes in the annual report of the company..............................................7Conclusion............................................................................................................................10References.............................................................................................................................113 | P a g e
Accounting Theory & Current Issues Assignment_4

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