2CONTEMPORARY ISSUES IN ACCOUNTINGTable of ContentsIntroduction:....................................................................................................................................2Discussion........................................................................................................................................3Conceptual framework of accounting of Woolworths and Wesfarmers:........................................3General purpose financial statements as per the framework of AASB:..........................................4Director’s declaration:.....................................................................................................................7Analysis of shareholders:.................................................................................................................9Remuneration report:.....................................................................................................................10Prudence and its impact on dealing with corporate disparity:.......................................................12Comparison of the annual report of Wesfarmers and Woolworths Ltd:.......................................13Recommendation:..........................................................................................................................14Conclusion:....................................................................................................................................14Reference:......................................................................................................................................16

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