Importance of Regulating Financial Reporting Process and Analysis of Equity Position of ASX Listed Companies
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AI Summary
The report discusses the importance of regulating financial reporting process and the analysis of equity position of selected ASX listed companies. It also critically evaluates the standard setting process of AASB and the applicability of IFRS on IASB member countries. The report is divided into three sections comprising of corporate regulations, accounting standard settings and owners equity. The companies selected for analysis are Agrimin limited, Bauxite resources limited, Jupiter mines limited and Adelaide Brighton limited.
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Running head: CORPORATE AND FINANCIAL ACCOUNTING
Corporate and financial accounting
Name of the Student:
Name of the University:
Author’s Note:
Corporate and financial accounting
Name of the Student:
Name of the University:
Author’s Note:
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1CORPORATE AND FINANCIAL ACCOUNTING
Executive summary:
The current paper elucidates the importance of regulating the financial reporting process by
critically researching the importance of such disclosure requirement. The report has been divided
into three sections comprising of corporate regulations, accounting standard settings and owners
equity In addition to this, critical research was also conducted on the standard setting process of
AASB (Australian accounting standard board). For evaluation of owner’s equity, comparative
analysis has been performed by comparing the figures of components of equity of the companies
for four years listed on the Australian stock exchange. Data presented in the financial report of
the companies have been used for evaluating the equity and financial leverage of the companies.
Table of Contents
Introduction:....................................................................................................................................3
Executive summary:
The current paper elucidates the importance of regulating the financial reporting process by
critically researching the importance of such disclosure requirement. The report has been divided
into three sections comprising of corporate regulations, accounting standard settings and owners
equity In addition to this, critical research was also conducted on the standard setting process of
AASB (Australian accounting standard board). For evaluation of owner’s equity, comparative
analysis has been performed by comparing the figures of components of equity of the companies
for four years listed on the Australian stock exchange. Data presented in the financial report of
the companies have been used for evaluating the equity and financial leverage of the companies.
Table of Contents
Introduction:....................................................................................................................................3
2CORPORATE AND FINANCIAL ACCOUNTING
Discussion:.......................................................................................................................................3
Corporate regulation:.......................................................................................................................3
Critical analysis of regulation of financial reporting and accounting:............................................3
Critical Explanation of participation of setting process of global accounting standard of
Australian accounting standard board:............................................................................................4
Explanation of why IFRS is not mandatory for IASB member countries:......................................6
Analysis of owner’s equity of four selected companies:.................................................................7
Comparative analysis of debt and equity position of chosen companies:.......................................9
Conclusion:....................................................................................................................................10
References and Bibliography list:..................................................................................................12
Discussion:.......................................................................................................................................3
Corporate regulation:.......................................................................................................................3
Critical analysis of regulation of financial reporting and accounting:............................................3
Critical Explanation of participation of setting process of global accounting standard of
Australian accounting standard board:............................................................................................4
Explanation of why IFRS is not mandatory for IASB member countries:......................................6
Analysis of owner’s equity of four selected companies:.................................................................7
Comparative analysis of debt and equity position of chosen companies:.......................................9
Conclusion:....................................................................................................................................10
References and Bibliography list:..................................................................................................12
3CORPORATE AND FINANCIAL ACCOUNTING
Introduction:
The report has been prepared to demonstrate the importance of regulation of financial
report of companies and why the voluntary disclosure by managers of reporting entities
considered essential. The accounting standard setting process of Australian accounting standard
board has been explained critically and whether the IFRS set by standard board is mandatory for
the member countries of IASB. The later section of report conducts an analysis on the equity
position of the selected companies from the Australian stock exchange (Christensen et al. 2015).
Companies that have been selected are Argimin limited, Bauxite resources limited, Jupiter mines
limited and Adelaide Brighton limited. Agrimin limited is a mineral company that is engaged in
the development and exploration of Australian mineral properties. Bauxite resources limited on
other hand is a company that is engaged in the development, acquisition and exploration of
minerals deposit of bauxite in Australia. Jupiter mines limited is a company is a company based
in Perth, Australia which is involved in carrying out operation and development activities of
mineral resource. Adelaide Brighton limited is a manufacturer company based in Australia with
its principal activities of importing, producing, distribution and marketing of cement.
Discussion:
Corporate regulation:
Analyzing the effectiveness of financial reporting regulations:
There are various users of financial reports seeking different information and such wide
range of users comprised of government, employees, shareholders, investors, communities and
Introduction:
The report has been prepared to demonstrate the importance of regulation of financial
report of companies and why the voluntary disclosure by managers of reporting entities
considered essential. The accounting standard setting process of Australian accounting standard
board has been explained critically and whether the IFRS set by standard board is mandatory for
the member countries of IASB. The later section of report conducts an analysis on the equity
position of the selected companies from the Australian stock exchange (Christensen et al. 2015).
Companies that have been selected are Argimin limited, Bauxite resources limited, Jupiter mines
limited and Adelaide Brighton limited. Agrimin limited is a mineral company that is engaged in
the development and exploration of Australian mineral properties. Bauxite resources limited on
other hand is a company that is engaged in the development, acquisition and exploration of
minerals deposit of bauxite in Australia. Jupiter mines limited is a company is a company based
in Perth, Australia which is involved in carrying out operation and development activities of
mineral resource. Adelaide Brighton limited is a manufacturer company based in Australia with
its principal activities of importing, producing, distribution and marketing of cement.
Discussion:
Corporate regulation:
Analyzing the effectiveness of financial reporting regulations:
There are various users of financial reports seeking different information and such wide
range of users comprised of government, employees, shareholders, investors, communities and
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4CORPORATE AND FINANCIAL ACCOUNTING
other related parties. Regulation of financial reports helps in providing standardized information
by bringing consistency in the information presented. There would be a diversified way of
presenting the information in the absence of regulatory standard. This would lead to presentation
of information distinctly and their interpretation in different manner. Users of regulated financial
report are provided with advantage in deriving information that is reliable and credible
(Ramanna and Sletten 2014).
The managers of reporting entities make use of the concept of voluntary disclosure for
communication relevant private information to the users. Supplementation of mandatory
reporting and communicating the superior knowledge about the performance of firms is
disclosed via the platform of voluntary disclosure. In events of implementation of several
accounting practices, managers of discretion is often sought as the voluntary disclosure basis is
formed using the private information. An increased or enhanced mandatory reporting would
result in providing users who more informative report.
Determining the process of setting global standard by IASB:
The contribution, functioning, working and powers of the global standard setting process
have been outlined by the AASB (Australian Accounting standard board). IFRS is adopted by
Australian companies that comply with the requirement of council of financial reporting. There
are several steps incorporated in the global standard setting process by AASB. In the first step, it
is required by AASB to perform the identification of technical issue concerning the reporting
entities. After the technical issue has been identified, development of proposal of project is done
by AASB (Bepari and Mollik 2016). Next step requires deciding about the project worthiness
after performing the evaluation of projects potential benefits. Once the agenda paper contains the
other related parties. Regulation of financial reports helps in providing standardized information
by bringing consistency in the information presented. There would be a diversified way of
presenting the information in the absence of regulatory standard. This would lead to presentation
of information distinctly and their interpretation in different manner. Users of regulated financial
report are provided with advantage in deriving information that is reliable and credible
(Ramanna and Sletten 2014).
The managers of reporting entities make use of the concept of voluntary disclosure for
communication relevant private information to the users. Supplementation of mandatory
reporting and communicating the superior knowledge about the performance of firms is
disclosed via the platform of voluntary disclosure. In events of implementation of several
accounting practices, managers of discretion is often sought as the voluntary disclosure basis is
formed using the private information. An increased or enhanced mandatory reporting would
result in providing users who more informative report.
Determining the process of setting global standard by IASB:
The contribution, functioning, working and powers of the global standard setting process
have been outlined by the AASB (Australian Accounting standard board). IFRS is adopted by
Australian companies that comply with the requirement of council of financial reporting. There
are several steps incorporated in the global standard setting process by AASB. In the first step, it
is required by AASB to perform the identification of technical issue concerning the reporting
entities. After the technical issue has been identified, development of proposal of project is done
by AASB (Bepari and Mollik 2016). Next step requires deciding about the project worthiness
after performing the evaluation of projects potential benefits. Once the agenda paper contains the
5CORPORATE AND FINANCIAL ACCOUNTING
issue discussed, staffs of regulators concerned are called upon to make a discussion presented in
the research paper. After evaluating the agenda paper, staff makes the effort to address the scope
issue, alternative approaches and the timings. This stage completes the research work and the
documents are published for discussing with the stakeholders of respective companies along with
seeking public comments. The consideration of AASB conclusion might be due to the issuer
associated with pronouncement and then the submission of inputs is done to the organization
(Morris 2017). Furthermore, the implementation and interpretation of the accounting standards
are done requesting the formal letters to the AASB.
issue discussed, staffs of regulators concerned are called upon to make a discussion presented in
the research paper. After evaluating the agenda paper, staff makes the effort to address the scope
issue, alternative approaches and the timings. This stage completes the research work and the
documents are published for discussing with the stakeholders of respective companies along with
seeking public comments. The consideration of AASB conclusion might be due to the issuer
associated with pronouncement and then the submission of inputs is done to the organization
(Morris 2017). Furthermore, the implementation and interpretation of the accounting standards
are done requesting the formal letters to the AASB.
6CORPORATE AND FINANCIAL ACCOUNTING
AASB standard setting process:
(Source: Aasb.gov.au 2018)
Evaluating the applicability of IFRS on the IASB member countries:
International accounting standard that has been issued by IFRS have fifteen member
countries including United States. The comparison of the financial report prepared by different
AASB standard setting process:
(Source: Aasb.gov.au 2018)
Evaluating the applicability of IFRS on the IASB member countries:
International accounting standard that has been issued by IFRS have fifteen member
countries including United States. The comparison of the financial report prepared by different
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7CORPORATE AND FINANCIAL ACCOUNTING
countries has been facilitated due to the adoption of International financial reporting standard.
However, the adoption of IFRS by fully accepting it is associated with some drawbacks. It is not
mandatory for member countries to fully adopt the IFRS because the financial report would lose
certain quality. United States being a member of IASB has rejected the full adoption of IFRS
because preparation of financial statements would not require marketing incentive. Furthermore,
it has been ascertained that the cost related to IFRS adoption would offset the benefits that would
be received. Furthermore, the mandatory adoption of IFRS comes with issue as no detailed rules
are prescribed by the principle based standard. This leaves the process the accounting to the
discretion of auditors and individual companies. Processing of similar nature transactions is done
ad interpreted quite differently under such standard and thereby increasing the chance of window
dressing (Pownall and Wieczynska 2018).
Assessment of the equity position and financial leverage of ASX listed companies:
Analysis of the equity position of the selected companies from the ASX has been
demonstrated in this section.
Contributed equity- Contributed capital is the amount of capital that is contributed by
owners of company in the form of assets and cash in exchange of stocks of company.
Retained earnings- Retained earnings are the amount that is available for reinvestment
in the core business activities of company. Such earnings are not intended to be distributed to
shareholders. It is the accumulation of net income by the corporation that is retained at particular
point of time for reinvestment (Capkun et al. 2016).
Accumulated loss- Accumulated losses are the cumulative loss that is incurred by the
business which reduced the balance of retained earnings to negative.
countries has been facilitated due to the adoption of International financial reporting standard.
However, the adoption of IFRS by fully accepting it is associated with some drawbacks. It is not
mandatory for member countries to fully adopt the IFRS because the financial report would lose
certain quality. United States being a member of IASB has rejected the full adoption of IFRS
because preparation of financial statements would not require marketing incentive. Furthermore,
it has been ascertained that the cost related to IFRS adoption would offset the benefits that would
be received. Furthermore, the mandatory adoption of IFRS comes with issue as no detailed rules
are prescribed by the principle based standard. This leaves the process the accounting to the
discretion of auditors and individual companies. Processing of similar nature transactions is done
ad interpreted quite differently under such standard and thereby increasing the chance of window
dressing (Pownall and Wieczynska 2018).
Assessment of the equity position and financial leverage of ASX listed companies:
Analysis of the equity position of the selected companies from the ASX has been
demonstrated in this section.
Contributed equity- Contributed capital is the amount of capital that is contributed by
owners of company in the form of assets and cash in exchange of stocks of company.
Retained earnings- Retained earnings are the amount that is available for reinvestment
in the core business activities of company. Such earnings are not intended to be distributed to
shareholders. It is the accumulation of net income by the corporation that is retained at particular
point of time for reinvestment (Capkun et al. 2016).
Accumulated loss- Accumulated losses are the cumulative loss that is incurred by the
business which reduced the balance of retained earnings to negative.
8CORPORATE AND FINANCIAL ACCOUNTING
Reserves- Reserves are the amount of profit that the businesses have apportioned by the
business for particular purpose. The amounts are set aside for specific purpose such as expected
legal settlement, purchasing fixed assets and paying off debts.
Analysis of components of equity of Agrimin minerals limited:
Equity of Agrimin limited comprised three items such as accumulated loss, share capital
and reserves. Financial year 2017 and 2016 depicts that the amount of share capital stood at $
36469022 and $ 23342362 compared to $ 1759977 and $ 20326653 in financial year 2014 and
2015. It is clearly indicated from figures that value of share capital has increased year on year.
Reserves value has been found to be recorded at $ 351080 and $ 623093 in year 2017 and 2016
compared to $ 225331 and a negative value of $ 461322 in year 2015 and 2014 depicting that
value increased initially and subsequently it declined. Amount of accumulated loss is recorded at
$ 18522705 and $ 18034920 compared to $ 17067420 and $ 15880720 indicating that losses
increased year on year.
Analysis of components of equity of Adelaide Brighton limited:
From the annual report of Adelaide Brighton limited, it has been seen that there are three
components comprising of retained earnings, reserves and share capital. It is presented in the
annual report that amount of contributed equity stood at $ 733.1 and 731.4 in recent financial
year 2017 and 2016 as against $ 727.9 and 729.2 in year 2014 and 2015 respectively. This
depicts that there has not been much increase in share capital value. There has been consistent
increment in value of retained earnings presented in the financial report to $ 510.6 and $ 483.3 in
financial year 2017 and 2016 compared to $ 474.3 and $ 402.8 in year 2015 and 2014. Value of
reserves on other hand has initially increased and has increased substantially in the recent
Reserves- Reserves are the amount of profit that the businesses have apportioned by the
business for particular purpose. The amounts are set aside for specific purpose such as expected
legal settlement, purchasing fixed assets and paying off debts.
Analysis of components of equity of Agrimin minerals limited:
Equity of Agrimin limited comprised three items such as accumulated loss, share capital
and reserves. Financial year 2017 and 2016 depicts that the amount of share capital stood at $
36469022 and $ 23342362 compared to $ 1759977 and $ 20326653 in financial year 2014 and
2015. It is clearly indicated from figures that value of share capital has increased year on year.
Reserves value has been found to be recorded at $ 351080 and $ 623093 in year 2017 and 2016
compared to $ 225331 and a negative value of $ 461322 in year 2015 and 2014 depicting that
value increased initially and subsequently it declined. Amount of accumulated loss is recorded at
$ 18522705 and $ 18034920 compared to $ 17067420 and $ 15880720 indicating that losses
increased year on year.
Analysis of components of equity of Adelaide Brighton limited:
From the annual report of Adelaide Brighton limited, it has been seen that there are three
components comprising of retained earnings, reserves and share capital. It is presented in the
annual report that amount of contributed equity stood at $ 733.1 and 731.4 in recent financial
year 2017 and 2016 as against $ 727.9 and 729.2 in year 2014 and 2015 respectively. This
depicts that there has not been much increase in share capital value. There has been consistent
increment in value of retained earnings presented in the financial report to $ 510.6 and $ 483.3 in
financial year 2017 and 2016 compared to $ 474.3 and $ 402.8 in year 2015 and 2014. Value of
reserves on other hand has initially increased and has increased substantially in the recent
9CORPORATE AND FINANCIAL ACCOUNTING
financial year. The amount is recorded at $ 1.9 and 2.9 in financial year 2016 and 2017.
However, financial year 2015 recorded reserves of amount $ 3.3 as against $ 1.2 in year 2014.
Analysis of components of equity of Jupiter mines limited:
Total amount of issued capital for Jupiter mines limited has remained constant at $
526639293 for four consecutive years that is 2017., 2016, 2015 and 2014 respectively. Amount
of reserves on other hand is recorded at $ 180488 in year 2017. However, the value of reserves
was nil in both the years 2016 and 2015 respectively. Looking at the figures of accumulated loss
in year 2017, the value is recorded at $ 51395961 compared to $ 251495298 in year 2016
indicating that there has been considerable increase in value in recent year.
Analysis of components of equity of Bauxite resources limited:
Equity of bauxite resources limited comprised of contributed equity, reserves and
retained earnings of which the value of contributed equity has reduced considerably from $
87651716 in year 2014 to $ 78401613 I year 2015. Value has further declined to $ 66631264 in
year 2016 to $ 66641060 in year 2016 and 2017. There has been reduction in the amount of
accumulated loss recorded in recent financial year 2016 and 2017 at amount $ 47450689 and $
47949155. On other hand, financial year 2015 and 2014 has higher amount of loss recorded at $
51788573 and $ 41166374. It is indicated by figures that the value increased initially and
declined later on.
Relative analysis of equity position and financial leverage of chosen companies:
The equity position of Agrimin limited for year 2017 and 2016 stood at $ 18297397 and $
5930535 compared to total amount of liabilities that is recorded at $ 646322 and $ 151558. It is
financial year. The amount is recorded at $ 1.9 and 2.9 in financial year 2016 and 2017.
However, financial year 2015 recorded reserves of amount $ 3.3 as against $ 1.2 in year 2014.
Analysis of components of equity of Jupiter mines limited:
Total amount of issued capital for Jupiter mines limited has remained constant at $
526639293 for four consecutive years that is 2017., 2016, 2015 and 2014 respectively. Amount
of reserves on other hand is recorded at $ 180488 in year 2017. However, the value of reserves
was nil in both the years 2016 and 2015 respectively. Looking at the figures of accumulated loss
in year 2017, the value is recorded at $ 51395961 compared to $ 251495298 in year 2016
indicating that there has been considerable increase in value in recent year.
Analysis of components of equity of Bauxite resources limited:
Equity of bauxite resources limited comprised of contributed equity, reserves and
retained earnings of which the value of contributed equity has reduced considerably from $
87651716 in year 2014 to $ 78401613 I year 2015. Value has further declined to $ 66631264 in
year 2016 to $ 66641060 in year 2016 and 2017. There has been reduction in the amount of
accumulated loss recorded in recent financial year 2016 and 2017 at amount $ 47450689 and $
47949155. On other hand, financial year 2015 and 2014 has higher amount of loss recorded at $
51788573 and $ 41166374. It is indicated by figures that the value increased initially and
declined later on.
Relative analysis of equity position and financial leverage of chosen companies:
The equity position of Agrimin limited for year 2017 and 2016 stood at $ 18297397 and $
5930535 compared to total amount of liabilities that is recorded at $ 646322 and $ 151558. It is
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10CORPORATE AND FINANCIAL ACCOUNTING
indicated by the figures that total amount of liabilities is significantly lower than the amount of
equity (Agrimin.com.au 2018).
Total amount of equity of Adelaide Brighton limited for year 2017 and 2016 stood at $
1248.2 and $ 1220.1. On other hand, the amount of total liabilities for both years is recoded at $
764.8 and $ 606.6 (adbri.com.au 2018). It can be seen that value of equities is significantly
higher than the value of total liabilities.
For Jupiter mines limited, there has been significant increase in issued capital value in the
financial year 2017 at amount $ 7073956 compared to financial year 2016 at amount $ 469235.
Total amount of liabilities of Jupiter mines limited for year 2017 is recorded at $ 475423820
compared to $ 275143995 depicting a considerable increase in liabilities in recent year
(Jupitermines.com 2018). It is suggested by the figure that total amount of liabilities is
considerably higher than the value of equity.
The total amount of liabilities of bauxite resources limited stood at $ 73183 and $ 104123
in year 2017 and 2016 respectively. On other hand, amount of equity is recorded at $ 19253124
compared to $ 19751815 which illustrates the fact that amount of equity depicted in the balance
sheet is considerably higher than the total liabilities recorded (Bauxiteresource.com.au 2018).
Analysis of the above presented figures results in drawing conclusion that Jupiter Mines
limited has recorded higher liabilities as against all the companies selected for evaluation. On
other hand, Adelaide Brighton limited has lower amount of equity compared to all other
companies.
indicated by the figures that total amount of liabilities is significantly lower than the amount of
equity (Agrimin.com.au 2018).
Total amount of equity of Adelaide Brighton limited for year 2017 and 2016 stood at $
1248.2 and $ 1220.1. On other hand, the amount of total liabilities for both years is recoded at $
764.8 and $ 606.6 (adbri.com.au 2018). It can be seen that value of equities is significantly
higher than the value of total liabilities.
For Jupiter mines limited, there has been significant increase in issued capital value in the
financial year 2017 at amount $ 7073956 compared to financial year 2016 at amount $ 469235.
Total amount of liabilities of Jupiter mines limited for year 2017 is recorded at $ 475423820
compared to $ 275143995 depicting a considerable increase in liabilities in recent year
(Jupitermines.com 2018). It is suggested by the figure that total amount of liabilities is
considerably higher than the value of equity.
The total amount of liabilities of bauxite resources limited stood at $ 73183 and $ 104123
in year 2017 and 2016 respectively. On other hand, amount of equity is recorded at $ 19253124
compared to $ 19751815 which illustrates the fact that amount of equity depicted in the balance
sheet is considerably higher than the total liabilities recorded (Bauxiteresource.com.au 2018).
Analysis of the above presented figures results in drawing conclusion that Jupiter Mines
limited has recorded higher liabilities as against all the companies selected for evaluation. On
other hand, Adelaide Brighton limited has lower amount of equity compared to all other
companies.
11CORPORATE AND FINANCIAL ACCOUNTING
Conclusion:
The discussion of the above facts illustrates that the regulation of financial reporting
plays a very important role in disclosing of financial information. Managers have also
considerable role to play disclosing the important financial information by employing the
voluntary disclosure platform. It has also been found that the adoption of IFRS is not mandatory
for the member of IASB countries because of some shortcomings. From the analysis of the above
facts and figure4s of above listed companies on ASX, it can be seen that the equity comprised of
three important elements such as reserves, retained earnings and contributed capital or share
capital. The comparative analysis illustrates that the total amount of equity is owned by Adelaide
Brighton limited. On other hand, Jupiter mines limited has higher amount of total liabilities
compared to other companies operating in the same sector.
Conclusion:
The discussion of the above facts illustrates that the regulation of financial reporting
plays a very important role in disclosing of financial information. Managers have also
considerable role to play disclosing the important financial information by employing the
voluntary disclosure platform. It has also been found that the adoption of IFRS is not mandatory
for the member of IASB countries because of some shortcomings. From the analysis of the above
facts and figure4s of above listed companies on ASX, it can be seen that the equity comprised of
three important elements such as reserves, retained earnings and contributed capital or share
capital. The comparative analysis illustrates that the total amount of equity is owned by Adelaide
Brighton limited. On other hand, Jupiter mines limited has higher amount of total liabilities
compared to other companies operating in the same sector.
12CORPORATE AND FINANCIAL ACCOUNTING
References and Bibliography list:
Aasb.gov.au., 2018. The standard-setting process . [online] Available at:
https://www.aasb.gov.au/About-the-AASB/The-standard-setting-process.aspx [Accessed 19 Sep.
2018].
adbri.com.au., 2018. Retrieved 12 September 2018, from
https://www.amcor.com/investors/financial-information/annual-reports
Agrimin.com.au., 2018. Retrieved 12 September 2018, from
https://www.agrimin.com/investors/financial-information/annual-reports
Backof, A.G., Bamber, E.M. and Carpenter, T.D., 2016. Do auditor judgment frameworks help
in constraining aggressive reporting? Evidence under more precise and less precise accounting
standards. Accounting, Organizations and Society, 51, pp.1-11.
Bauxiteresource.com.au., 2018. Retrieved 12 September 2018, from
https://www.amcor.com/investors/financial-information/annual-reports
Bepari, M.K. and Mollik, A.T., 2016. Stakeholders’ interest in sustainability assurance process:
An examination of assurance statements reported by Australian companies. Managerial Auditing
Journal, 31(6/7), pp.655-687.
Capkun, V., Collins, D. and Jeanjean, T., 2016. The effect of IAS/IFRS adoption on earnings
management (smoothing): A closer look at competing explanations. Journal of Accounting and
Public Policy, 35(4), pp.352-394.
References and Bibliography list:
Aasb.gov.au., 2018. The standard-setting process . [online] Available at:
https://www.aasb.gov.au/About-the-AASB/The-standard-setting-process.aspx [Accessed 19 Sep.
2018].
adbri.com.au., 2018. Retrieved 12 September 2018, from
https://www.amcor.com/investors/financial-information/annual-reports
Agrimin.com.au., 2018. Retrieved 12 September 2018, from
https://www.agrimin.com/investors/financial-information/annual-reports
Backof, A.G., Bamber, E.M. and Carpenter, T.D., 2016. Do auditor judgment frameworks help
in constraining aggressive reporting? Evidence under more precise and less precise accounting
standards. Accounting, Organizations and Society, 51, pp.1-11.
Bauxiteresource.com.au., 2018. Retrieved 12 September 2018, from
https://www.amcor.com/investors/financial-information/annual-reports
Bepari, M.K. and Mollik, A.T., 2016. Stakeholders’ interest in sustainability assurance process:
An examination of assurance statements reported by Australian companies. Managerial Auditing
Journal, 31(6/7), pp.655-687.
Capkun, V., Collins, D. and Jeanjean, T., 2016. The effect of IAS/IFRS adoption on earnings
management (smoothing): A closer look at competing explanations. Journal of Accounting and
Public Policy, 35(4), pp.352-394.
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13CORPORATE AND FINANCIAL ACCOUNTING
Christensen, H.B., Lee, E., Walker, M. and Zeng, C., 2015. Incentives or standards: What
determines accounting quality changes around IFRS adoption?. European Accounting
Review, 24(1), pp.31-61.
Dillard, J. and Vinnari, E., 2017. A case study of critique: Critical perspectives on critical
accounting. Critical Perspectives on Accounting, 43, pp.88-109.
Dyckman, T.R. and Zeff, S.A., 2015. Accounting research: past, present, and
future. Abacus, 51(4), pp.511-524.
Jupitermines.com., 2018. Retrieved 12 September 2018, from
https://www.jupitermines.com/investors/financial-information/annual-reports
Kraal, D., Yapa, P.W.S. and Joshi, M., 2015. The Adoption of International Accounting Standard
(IAS) 12 Income Taxes: Convergence or Divergence with Local Accounting Standards in
Selected ASEAN Countries?.
Morris, R.D., 2017. Discussion of: The Phoenix Rises: The Australian Accounting Standards
Board and IFRS Adoption. Journal of International Accounting Research, 16(2), pp.155-157.
Pownall, G. and Wieczynska, M., 2018. Deviations from the mandatory adoption of IFRS in the
European Union: Implementation, enforcement, incentives, and compliance. Contemporary
Accounting Research, 35(2), pp.1029-1066.
Ramanna, K. and Sletten, E., 2014. Network effects in countries' adoption of IFRS. The
Accounting Review, 89(4), pp.1517-1543.
Tello, E., Hazelton, J. and Cummings, L., 2016. Potential users’ perceptions of general purpose
water accounting reports. Accounting, Auditing & Accountability Journal, 29(1), pp.80-110.
Christensen, H.B., Lee, E., Walker, M. and Zeng, C., 2015. Incentives or standards: What
determines accounting quality changes around IFRS adoption?. European Accounting
Review, 24(1), pp.31-61.
Dillard, J. and Vinnari, E., 2017. A case study of critique: Critical perspectives on critical
accounting. Critical Perspectives on Accounting, 43, pp.88-109.
Dyckman, T.R. and Zeff, S.A., 2015. Accounting research: past, present, and
future. Abacus, 51(4), pp.511-524.
Jupitermines.com., 2018. Retrieved 12 September 2018, from
https://www.jupitermines.com/investors/financial-information/annual-reports
Kraal, D., Yapa, P.W.S. and Joshi, M., 2015. The Adoption of International Accounting Standard
(IAS) 12 Income Taxes: Convergence or Divergence with Local Accounting Standards in
Selected ASEAN Countries?.
Morris, R.D., 2017. Discussion of: The Phoenix Rises: The Australian Accounting Standards
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