CONTEMPORARY ACCOUNTING THEORY.

Running head: CONTEMPORARY ACCOUNTING THEORY
CONTEMPORARY ACCOUNTING THEORY
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Author Note

1CONTEMPORARY ACCOUNTING THEORY
Executive Summery
The report is prepared to provide the brief concept about the conceptual framework and the
integrated or sustainability reporting of the firm. The main objective of the report is to discuss
the every element of the conceptual framework and the sustainability reporting of the
financial information reporting of the companies. The report have the two parts, the first part
discuss about the conceptual framework while the second part of the report discuss about the
sustainability reporting of the company. The report also use the annual report of the two
companies explain the conceptual framework and sustainability reporting concept in more
clear way.

2CONTEMPORARY ACCOUNTING THEORY
Table of Contents
Introduction................................................................................................................................3
Discussion..................................................................................................................................4
PART A......................................................................................................................................4
Requirement A.......................................................................................................................4
Requirement B.......................................................................................................................4
Requirement C.......................................................................................................................7
Requirement D.......................................................................................................................7
Part B..........................................................................................................................................8
Requirement A.......................................................................................................................8
Requirement B.......................................................................................................................9
Requirement C.....................................................................................................................10
Requirement D.....................................................................................................................10
Requirement E......................................................................................................................13
Conclusion................................................................................................................................14
References and Bibliography...................................................................................................15

3CONTEMPORARY ACCOUNTING THEORY
Introduction
The report titled “Contemporary Accounting Theory” is prepared to analyse the
theory of conceptual framework and sustainability reporting of the companies. In the first part
of the report that is for conceptual framework, discuss the history and the development of the
conceptual framework considering the International Accounting Standards Boards (IASB).
The paper also analyse the profession’s concern regarding the application of the conceptual
framework in the financial reporting of the companies. This also discuss the concern of the
quality of conceptual framework. Lastly, the first part of the report analyse the annual report
of the Ramsay Health Care to know how many financial statement the company prepared and
the implementing the principle in the several accounting aspects. The second part of the
report, discuss the sustainability reporting guidelines of the global reporting initiative and the
international integrated reporting framework of the international integrated reporting council.
Further, this part of the report discuss about the advantages and the disadvantages of the
conventional accounting based on the conceptual framework for financial reporting along
with the usefulness and the limitation of the contents of the sustainability as well as
integrated reports. Lastly, this second part of the report analyse the financial annual report of
the Adcock Ingram to compare the content of the Australian corporate’s social responsibility
with the Australian corporate’s social responsibilities. Hence, the main objective of the report
is to provide the clear view of the conceptual framework and the sustainability of the
company’s information reporting.