Analysis of External Reporting Practices of Corporate

Running Head: CONTEMPORARY ACCOUNTING THEORY
CONTEMPORARY ACCOUNTING THEORY
Name of the Student
Name of the University
Author Note

1CONTEMPORARY ACCOUNTING THEORY
Executive Summary
This report is prepared with the aim of the analysis of external reporting practices of the
corporate. Under this assignment, brief literature review about the history and development of
the conceptual framework for the financial reporting will be analyzed and discussed. In
addition to this, concerns of academic and professional accounting in relation to the
conceptual framework with its application to REA limited will be discussed, which has been
found that the company’s financial statements are prepared in accordance with the standards
of accounting. Moreover, this report has also discussed about integrated reporting framework
and sustainability reporting framework that have been found that the summary of
sustainability reports and financial report are included in Integrated report, which have been
found in the integrated report of Naspers Limited.

2CONTEMPORARY ACCOUNTING THEORY
Table of Contents
Introduction................................................................................................................................3
PART A......................................................................................................................................4
Review of Literature..............................................................................................................4
Conceptual Framework Application for Financial Reporting................................................5
Conceptual Framework Quality for Financial Reporting.......................................................6
Company’s Application of Conceptual Framework..............................................................6
PART B......................................................................................................................................8
Sustainability Reporting Guidelines & International Integrated Reporting Framework.......8
Conventional Accounting Strength and Weakness................................................................9
Theories of Sustainability and Integrated Reports Applicability.........................................10
Integrated Report Components Index..................................................................................11
Corporate Social responsibility reporting of the Australian Company Comparison with the
Integrated Report of South African Company.....................................................................14
Conclusions..............................................................................................................................15
Reference..................................................................................................................................16

3CONTEMPORARY ACCOUNTING THEORY
Introduction
The aim of this report is to do the analysis of the several aspects of the external
reporting practices of corporate. This report is divided into two aspects. First aspect is
conceptual framework and the second aspect is of integrated or sustainability reporting.
Under the conceptual framework, discussion will be based on the history and the
developments of conceptual framework for the financial reporting, the concerns of the
Australian Accounting professionals and academics concerns about the quality of conceptual
frameworks. Moreover, discussion will be done on how the Australian company, REA Group
has applied the conceptual framework. Further, under the integrated or the sustainability
reporting, comparison will be done on the sustainability reporting guidelines as well as
international integrated reporting framework. In addition, strengths and weaknesses of
conventional accounting based on the conceptual framework will be discussed. Moreover,
Index will be prepared of the different components of the integrated report and discussion
will be done on disclosing of the information of each components by the South African
company. Lastly, comparison will be done on the reporting practices of Australia and
integrated reporting practices of Naspers Limited.
Company Overview
REA Group is the global online advertising real estate company, which is
headquartered in Melbourne, Australia. This company operates in the leading property
websites of Australia and real estate websites in the Asia, Europe and US (REA Group Ltd.
2019).
It is the media group and the broad-based multimedia internet, which is headquartered
in South Africa that offers the services in around 130 countries. The primary operations of the
company are in e-commerce, gaming and the entertainment. Around the world, Naspers is