ASX Financial Analysis Report 2022

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Date of submission

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Abstract
The report focuses on the issues of accounting processes mentioned in the annual
reports as disclosed in the 5 listed companies in the ASX which has been disclosed in the
reports by the company. The five listed companies listed in the ASX along with the annual
report availability has been prepared in the annual financial reports. Analysis of accounting
issues and theories in accounting information has been reviewed in this report. The
identification of methodologies in research has been analyzed while there has been qualitative
data interpretation.

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Table of Contents
Introduction..............................................................................................................................3
Appropriate Methodology Aligned with the Research Objectives and Question.............3
Analysis of the 5 ASX listed companies’ annual report for accounting issues...................4
Identified theory and suitable commentary...........................................................................5
Regulatory, sustainability and ethical issue...........................................................................5
Literature review with critical analysis of contemporary research....................................6
Conclusions...............................................................................................................................7
References.................................................................................................................................8

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Introduction
Accounting information are mainly prepared by the appointed managers of the
company, the data prepared for the five listed companies are relevant to the research analysis.
The research is based on the corporate social responsibility by the listed companies and their
accounting information (Asif, Arif, and Akbar, 2016). Both empirical and theoretical data has
been analyzed with accounting practices implemented by the companies.
Appropriate Methodology Aligned with the Research Objectives and Question
Using the methods of analysis, synthesis, grouping and comparison, the paper
presents an overview and systematization of various scientific points of view regarding
corporate social responsibility as a subject of accounting science. The authors analyzed the
topic and content of scientific publications presented in leading world journals in the field of
accounting, included in the Scopus database over the past 5 years. As a result, a review of the
areas of scientific research of modern scientists is offered, the most pressing problems that
are present at the present stage of development of social accounting and non-financial
reporting are characterized( Lai, Melloni, and Stacchezzini, 2018).
Empirical and theoretical research has been conducted on the accounting practices on
the listed companies. Annual financial reports have been disclosed by the 5 listed
organizations and this include their corporate social responsibilities and their practices.
Accounting methods of double entry book keeping plays a fundamental role in the process of
research. This method of record keeping has been conducted for every transaction.The
research results presented in the article can be applied in educational, methodological and
scientific work and are intended for a wide range of readers: scientists, students, bachelors,
masters, graduate students, teachers interested in this field of research.

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Analysis of the 5 ASX listed companies’ annual report for accounting issues
The five companies include; Baby Bunting Group limited which deals with retail
industries. The Bank of Queensland Limited provides financial services and banking services
to Australians. The Bailador Technology Investment Limited diversifies into investments
portfolios and diversified financials. Beach Energy Limited provides energy services to its
customers while Bass Metal Limited deals with steel and other metal production and other
services.
Accounting issues in this companies are almost the same due to a generalized
accounting standards applied in every listed company. Analysis of their financial statements
such as acquisition of assets will be beneficial in the normal course of accounting procedures.
Issues in accounting has evolved and developed such as from single entry to double entry and
their implications to company accounts. Accounting standards impacts on certain procedures
of business and their reflection on the annual financial reports. The changing taxation policies
may also affect the business procedures for the companies. Nevertheless, as far as we know
so far in Australia, a wide review of CSR research as a subject of accounting science has not
been carried out, despite the fact that the number of publications on CSR in the world's
leading accounting journals has increased significantly recently (Makarenko, and Plastun,
2017).
One of the methodological approaches to a more detailed study of the CSR
phenomenon is the division of CSR into three interrelated levels: economic, social and
environmental. To increase the relevance of the results, the search was limited to articles in
magazines in the direction of “Business, Management and Accounting”. The results were

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further analyzed by publication date and country of publication. Over the past 5 years, there
has been a real boom in publications devoted to this topic, with the peak falling in 2013.
Identified theory and suitable commentary
Qualitative data has been mentioned in the 5 company’s annual report. This is the data
and information obtained and gathered from the appointed manager’s point of view.
Determining the frequency of the issues identified have been set for the 5 organizations. The
qualitative data provided mainly identifies the issues of accounting system associated with
particular problems of the company.
The reality occurred primarily through the disclosure of information in corporate
annual (financial) statements. Over the past two decades, however, the disclosure of social
and environmental information has increasingly been carried out in the form of separate
autonomous reports. These autonomous social and environmental reports have become
increasingly complex (and lengthy) as a wider range of issues has been developed to meet the
expected information needs of a wide range of stakeholders (Masztalerz, 2016).
Regulatory, sustainability and ethical issue
Materiality in CSR has similar characteristics with materiality in financial accounting,
but shifts the emphasis towards stakeholders, emphasizing the social and environmental
consequences of corporate non-financial indicators and the importance of involving
stakeholders. For certification organizations outside the professional accounting community,
materiality is a highly visible concept that draws attention to areas of CSR that need
improvement in a statement that provides assurance. Among professional accountants and
auditors, the logic of the stakeholder has dissolved into professional logic, defined by the
limited liability of market logic. They express serious concern about the lack of reliability in
CSR reporting data, which is the result of weak control over non-financial systems.

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What are the costs of disclosing and certifying CSR reports? Current literature focuses
mainly on benefits. What to do if a company uses CSR disclosure to create a socially
responsible image without actual activities in the field of CSR. Thus, we can conclude that
the rapid development of initiatives in the field of reporting on CSR causes a number of
theoretical and empirical problems in modern science and accounting practice due to the
difference in approaches between organizations and interested users to understand, interpret
and provide confidence in such reporting (Merkl-Davies, and Brennan, 2017). According to
the research, the academic community in the field of accounting, along with other scientific
disciplines, has the potential to solve these complex research problems and the questions
posed in this review.
Moreover, it is important that such studies have a reliable justification, including a
qualitative assessment based on accumulated international experience. Science’s solution to
these problems should create an objective basis for making socially responsible decisions by
all interested parties both inside and outside the company, including owners, regulators and
society (Popovic, Majstorovic, and Grubljesic, 2015).
Literature review with critical analysis of contemporary research
Accounting information is based on the principles of accounting such as matching
principle, cost theory and accrual principles of accounting. The particular principle of
accounting covered in this research is the assets associated with accounting principles in the
organizations. Acquisition of assets and subsequent depreciation is based on this principle. It
deals with transaction of assets and recording the expenses that are directly affecting the
business (Budiarto, and Prabowo, 2015).

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On the other hand, Investors and other stakeholders around the world are increasingly
concerned about the social and environmental policies of companies. As a result, many
organizations voluntarily increase their degree of non-financial disclosures in their reports. At
the same time, there is no consensus among the academic community regarding the place of
corporate social responsibility in the system of accounting types. Significant volume on
foreign publications on this subject makes it possible to identify areas of accounting that are
developing most dynamically in recent years, and areas that have not yet been sufficiently
explored. The purpose of the work is to identify, compare and critically analyze promising
areas of the theory and practice of social accounting and non-financial reporting in order to
create opportunities for further research (Honggowati, Rahmawati, Aryani, and Probohudono,
2017).
Conclusions
The paper shows that the rapid development of initiatives in the field of reporting on
corporate social responsibility causes a number of theoretical and empirical problems in
modern science and accounting practice due to the difference in the approaches of
organizations and interested users to understanding, interpretation and confidence regarding
such reporting. Unlike the audit of financial statements, the accounting community does not
have a monopoly on the provision of services related to CSR, since audit firms must compete
with other types of individuals providing similar services. This competitive market creates
opportunities for research and an appropriate environment for a better understanding of the
market for confidence-building services and build better accounting systems, as well as
factors associated with the decision to use the services of various types of providers.

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References
Asif, M., Arif, K. and Akbar, W., 2016. Impact of accounting information on share price:
Empirical evidence from Pakistan stock exchange. International Finance and Banking, 3(1),
pp.124-135.
Budiarto, D.S. and Prabowo, M.A., 2015. Accounting information systems alignment and
SMEs performance: A literature review. International Journal of Management, Economics
and Social Sciences, 4(2), p.58.
Honggowati, S., Rahmawati, R., Aryani, Y.A. and Probohudono, A.N., 2017. Corporate
governance and strategic management accounting disclosure. Indonesian Journal of
Sustainability Accounting and Management, 1(1), pp.23-30.
Lai, A., Melloni, G. and Stacchezzini, R., 2018. Integrated reporting and narrative
accountability: The role of preparers. Accounting, Auditing & Accountability Journal, 31(5),
pp.1381-1405.
Makarenko, I. and Plastun, A., 2017. The role of accounting in sustainable
development. Accounting and Financial Control, 1(2), pp.4-12.
Masztalerz, M., 2016. Why narratives in accounting?. Prace Naukowe Uniwersytetu
Ekonomicznego we Wrocławiu, (434), pp.99-107.
Merkl-Davies, D.M. and Brennan, N.M., 2017. A theoretical framework of external
accounting communication: Research perspectives, traditions, and theories. Accounting,
Auditing & Accountability Journal, 30(2), pp.433-469.

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Popovic, S., Majstorovic, A. and Grubljesic, Z., 2015. Valuation of facilities in use and
application of international accounting standards. Актуальні проблеми економіки, (3),
pp.379-387.