Contemporary Issues in Accounting Assignment

CONTEMPORARY ISSUES IN ACCOUNTING ASSIGNMENT

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By student name
Professor
University
Date: 25 April 2018.
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Executive Summary
In the given case, a report has been prepared on one of listed companies, ADX energy Ltd. The financial
analysis has been done on the same with the help of the profit and loss account and the balance sheet
analysis over the past 2 years. The latest annual report of the company has been used for the analysis.
Furthermore, the ratio analysis has been done to get the idea of the performance indicators and how
the company had fared in the last 2 years. Besides this, the report also highlights the measurement
requirements of conceptual framework, fundamental and enhancing qualitative characteristics that the
company has met. It also mentions if the annual report has met the requirements of GAAP and are the
users of report able to make decision on the basis of the same. Finally, conclusion and recommendation
has been given as to further course of action by the company.
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Contents
Introduction.................................................................................................................................................4
Discussion and Analysis...............................................................................................................................4
Measurement requirement of conceptual framework............................................................................4
Fundamental Qualitative characteristics.................................................................................................4
Enhancing Qualitative characteristics......................................................................................................5
If users are able to make use of the reports for decision making............................................................5
Users need only basic knowledge of accounting – Yes or No..................................................................6
Requirements of General Purpose Financial Reporting...........................................................................6
Income Statement and Financial Position Analysis................................................................................10
Ratio Analysis.........................................................................................................................................12
Conclusion & Recommendation................................................................................................................14
References.................................................................................................................................................15
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