Corporate and Finance Accounting

Corporate and Finance Accounting
Corporate and Finance Accounting
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Corporate and Finance Accounting
EXECUTIVE SUMMARY
In the present Scenario/framework, a wide range of users require information regarding Financial
Position, changes in financial position and financial performance of the entities for making economic
decisions regarding investment, regulatory position of an entity, distribution of profits and dividend etc.
Thus, Financial Accounting and Reporting provides measures to identify the financial position of an
entity through accounting and financial statements.
Financial Statements should be prepared according to some rules, guidelines and standards so that it can
provide fair view of financial framework of an entity to the ultimate end users for decision making
without misleading them. Such accounting standards are as GAAP, IASB, IndAS etc based on clearly
articulated principles.
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Corporate and Finance Accounting
Contents
EXECUTIVE SUMMARY.................................................................................................................................2
INTRODUCTION...........................................................................................................................................4
CORPORATE REGULATION...........................................................................................................................5
FRAMING PROCESS OF GLOBAL ACCOUNTING STANDARDS.......................................................................6
OWNER'S EQUITY........................................................................................................................................7
CONCLUSION.............................................................................................................................................12
REFERENCE:...............................................................................................................................................13
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Corporate and Finance Accounting
INTRODUCTION
Main purpose of Accounting and Reporting of financial statement is to provide factual and meaningful
information about financial position of an entity as per standards. In this assignment we will discuss about
the need of financial accounting and reporting and it should be regulated or not to disclose financial
accounting information by the managers.
Here I will also discuss about the participation of Australian Accounting Standards Boards participation
in the process of setting global accounting Standards. I will also enlighten on the discussion that IFRS set
by the international accounting Standards are not compulsory for the member countries of IASB.
I will also analysis the equity position of companies from retail sector for four years listed on ASX. At
last i will do comparative analysis of equity and debt position of public listed companies listed on the
Australian Securities Exchange (ASX).
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