Contemporary Issues in Accounting: Case Study of ANZ Banking Group Ltd

CONTEMPORARY ISSUES IN ACCOUNTING
CASE STUDY OF ANZ BANKING GROUP LTD

Executive Summary
Compliance of reporting requirement is a success-critical factor for a corporate entity. The
instant report focuses on the Conceptual Framework (CF) which forms the basis of objectives
and goals of financial reporting compliance for a company. The report attempts to analyse the CF
in the context of Australia and New Zealand Banking Group Limited (ANZ) and accounting
malpractices in ANZ for which the brand name has been questioned. The report also compares
the compliance with respect to AMA Group Limited (AMA). Based on the findings, the
researcher provides recommendation and wraps up the discussion by way of concluding note.
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Table of Contents
1.0 Introduction................................................................................................................................4
2.0 Overview of Conceptual Framework.........................................................................................5
3.0 Overview of the Organisation....................................................................................................6
4.0 Application of Conceptual Framework in the Organisation......................................................7
5.0 Comparison of Application of Conceptual Framework with Other Organisation...................10
6.0 Recommendation and Conclusion...........................................................................................11
References......................................................................................................................................12
Appendices....................................................................................................................................12
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1.0 Introduction
Preparation of financial statements may be considered to be one of the most success-critical
aspects of accounting studies as the process of such preparation may include the consideration of
several components that are both external and internal to the business. Corporate reporting varies
widely at a global level with different countries having different financial reporting framework.
The introduction of Intentional Financial Reporting Standards (IFRSs) has made the task a bit
simpler though, the challenge remains for the management to undertake the corporate reporting
in such a manner that the same fulfils the information requirement of different stakeholders
associated with the business (Fasb.org, 2018). Since the financial accounting acts as a business
language, an effective corporate reporting may hold its importance in terms of its utility to the
stakeholders who undertake their investment or other decisions around their stakes in the
business based on such reporting (HAMPTON, 1999).
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