Analysis of Financial Accounting Issues in Myer Corporation

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Accounting Theory

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Executive Summary
The present report is developed for developing an understanding of examining the
financial statement of an enterprise for identification of any issue related with financial crisis. In
this context, the report has discussed the issue of accounting loess recognized by Myer in its
interim financial results of the year 2018. It has been identified from the analysis of the financial
statement of the company that the losses identified are unfair as per the AASB 136 accounting
standard.

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Contents
Executive Summary.........................................................................................................................2
Introduction......................................................................................................................................4
Clear and comprehensive overview of the enterprise’s financial crisis and outcome & Impact on
other Industries................................................................................................................................4
Role of Entity’s Financial statements in the Outcome....................................................................5
Avoidance of the Crisis...................................................................................................................6
Conclusion.......................................................................................................................................7
References........................................................................................................................................8