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Assignment: Advanced Financial Reporting

   

Added on  2020-10-05

9 Pages2708 Words290 Views
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ADVANCED FINANCIALREPORTINGTable of ContentsINTRODUCTION:..........................................................................................................................3Three core capitals needed for JB HI-FI business model....................................................4Impact of three capital in increasing or decreasing the capital.............................................5Three types of capital helps in creating value.......................................................................6Integrated reporting improves Financial reporting ............................................................7REFERENCES................................................................................................................................8
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INTRODUCTION:This study pertains the description regarding the Advanced Financial Reporting. alsoincludes the analyses of International Integrated framework(IIRF) which is the business modeland involves six capitals(Financial, Manufactured, Intellectual, Human, Social and Relational,Natural Capital). Although, the study based on the analysation of financial statements andreporting of JB Hi-FI Limited and analysation is made on the basis of last three years.International Integrated Reporting Framework (IIRF) acts as the guideline for company financialReporting. Because the business model of JB HI-FI Limited is based on the Business modelframed by International Integrated reporting framework (Acharya, and Ryan 2016).Identifying the issues regarding the types of capital required and concepts by JB HI FILtd.Issues regarding the concepts of accountingBusiness model of JB HI FI Ltd.The company JB HI-FI Limited is an Australian company and it operates its business throughthree segments at different places JB HI-FI Australia, JB HI-FI New Zealand and the GoodGuys. Mainly the company produces the electronic goods like televisions, computers, camerasand other telecommunications products such as CD's, DVD's etc. the financial reporting of JBHIFI Limited is based on the business model of (IIRC) reporting framework. Internationalintegrated Reporting helpful in improving the quality of information regarding the financialcapital and statements of JB HI-FI Limited and which is to be provided to its users both internaland external users. Moreover the JB HI-FI Limited recognises the the importance of governance,Environment and social matters which are combined in an economy.Materiality: The materiality concepts states that organisation must disclose everythingthat is important to the report audience, the organisation may disregard the trivial matters, but itis mandatory for them to disclose the important material facts about the organisation. Althoughthe JB HIFI must disclose the relevant information about the organisations to its internal andexternal users.(Arnold, 2012) Integrated reporting: IR means the process of communicating the the periodicintegrated report, about the creation of value overtime. Integrated report is comprises with the
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