ADVANCED FINANCIAL ACCOUNTING

Running head: ADVANCED FINANCIAL ACCOUNTING
Advanced Financial Accounting
Name of the Student
Name of the University
Author Note

ADVANCED FINANCIAL ACCOUNTING1
Table of Contents
Introduction................................................................................................................................2
Discussion..................................................................................................................................2
Estia Health Limited..............................................................................................................2
Reporting Entity.....................................................................................................................3
Fundamental Qualitative Characteristics...............................................................................5
Conclusion..................................................................................................................................7
References..................................................................................................................................8

ADVANCED FINANCIAL ACCOUNTING2
Introduction
Financial Statement is very crucial for all the stakeholders as it displays the scorecard
of an entity through which they can take their economic decisions. It is the responsibility of
the company to disclose the relevant information in its financial report. Reliable and relevant
information in the report of a company helps an investor to have an accurate view of the
company that helps them in their decision-making (Chea 2014). The report aims to develop
an understanding of the need for an accounting framework within the preparation of the
financial report. The company chosen here is Estia Health Limited, which is Australian aged
care that provides aged care to the whole of Australia from the last fifty years (Estia Health
2020). Further, the report will demonstrate the reporting entity, relevance, and qualitative
characteristics and related to Estia Health’s financial statement for the year 2019. The
concluded part will reflect the importance of the AASB accounting standard, where it has
formulated a framework of accounting that consists of specific rules and regulations for
effective reporting.
Discussion
Estia Health Limited
Estia Health provides aged care services across Australia that is included in Victoria,
Queensland, New South Wales, and South Australia. It is considered as one of the largest
aged care providers in Australia, which is operating from the last fifty years from now. Estia
Health Limited is listed on the Australian stock exchange. The organization has given equal
opportunity to the women in their operations to perform (Estia Health 2020). Estia supports
to proceeds accordingly as per the accounting framework prescribed by the AASB. Estia
Health Limited, as a healthcare sector, has prepared its financial report for the year 2019 is
prepared on the going concern basis (Estiahealth.com.au 2020). The group linked its home in