Conceptual Framework Analysis of MyState Limited

CONTEMPORARY
ISSUES IN
ACCOUNTING
ASSIGNMENT

1
By student name
Professor
University
Date: 25 April 2019.
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2
Executive Summary
A report has been prepared on the conceptual framework analysis of the company named MyState
Limited, which is a part of the financial sector. The report highlights if the company has followed the
measurement requirements as per conceptual framework and complied with the fundamental and
enhancing qualitative characteristics. It also mentions who are the main users of the financial reports
and whether or not only basic knowledge of accounting helps in interpretation and understanding of the
financial statements. Towards the end, the report also mentions if the company has prepared financial
statements as per General Purpose Financial Reporting.
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3
Contents
Executive Summary.....................................................................................................................................2
Introduction.................................................................................................................................................4
Discussion and Analysis...............................................................................................................................4
Compliance with measurement requirements........................................................................................4
Fundamental Qualitative characteristics.................................................................................................6
Enhancing Qualitative characteristics......................................................................................................6
Users of the financial reports................................................................................................................10
Knowledge of accounting for analysing the company...........................................................................10
Requirements of General Purpose Financial reporting..........................................................................11
Conclusion and Recommendation.............................................................................................................11
References.................................................................................................................................................12
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