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International Accounting Standards Board & AASB | Assignment

   

Added on  2020-02-24

3 Pages703 Words47 Views
Running head: EXTERNAL REPORTING1NewsletterName:Institution:Date:Regulatory environment and financial reportingAccording to International Accounting Standards Board ( IASB) and the AASB, any changes to a listed firm on Australian Stock Exchange will be reflected on the newsletter of the company’s affected. Any changes and development will lead to a resultant change in tax policy, the regulations and the political influences that a company has(Elliott, 2017).Changes and Development in Financial ReportingThe referred changes and development are based on the following facts; First, the technical facts where the new issue of accounting standards and amendments on the ASX list of rules are meant to change the status of the listed company. Technical facts will be based on accounting standard mainly influenced by changes in account practices but must however be approvedby the IASB or the AASB.Secondly, there are monitors and regulation that help in financial reporting. Every rules and regulation affected only leads to efficient systems of analyzing data. In order to carry out this calculation, the base must be determined, for the income statement are the sales and for the balance sheet the total of the asset,then the balance of the corresponding state item must be divided between the base balance and the result multiplied per 100, so you get a result knownas a trend index(Rayman, 2013).Impact

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