Preparation of financial statement of MF Bentham ltd

Running head: REPORT 0
CONTEMPORARY ISSUES IN
ACCOUNTING
APRIL 15, 2019
STUDENT DETAILS:

REPORT 1
Executive summary
Accounting and finance professionals face various contemporary issues related to the
accounting. The following parts describe principles related to measures of conceptual
framework adopted by IMF Bentham Limited, requirements of enhancing qualitative
characteristics, requirements of fundamental qualitative characteristics, usefulness of
financial reporting for user is discussed and critically examined.

REPORT 2
Contents
Executive summary....................................................................................................................1
Introduction................................................................................................................................3
Company overview....................................................................................................................3
Measurement requirements of conceptual framework...............................................................4
Fundamental qualitative characteristics.....................................................................................4
Enhancing qualitative characteristics.........................................................................................5
Decisions by users of financial reports......................................................................................6
Knowledge of accounting required by users of financial report to analyse company...............7
Requirements for general purpose financial reporting...............................................................7
Conclusion..................................................................................................................................7
References..................................................................................................................................9

REPORT 3
Introduction
Finance and accounting are continually emerging and altering, considerably influenced by
external factors in an international market. The current issues related to accounting provide
practical introduction of latest problems facing by the profession related to accounting. This
report states latest and up-to-date issues, which affect these issues in the accounting. In this
report, contemporary issues such as enhancing qualitative characteristics, fundamental
qualitative characteristics, conceptual framework requirement’s assessment, and needs of
general purpose financial reporting, are analysed to sustain well-versed discussions and
arguments.This report explores the advanced accounting concepts and policies of IMF
Bentham Limited through an implementation of them to the range of contemporary issues of
accounting.
Company overview
MF Bentham Limited is for Profit Corporationunited in Australia. This company is limited by
shares, which are publicly traded on ASE. IMF Bentham Limited handles, explores, and
provides funding of legal claim in USA, Canada, European countries, and Asian Countries.
This company also runs a separate business of the management of assets. IMF Bentham
Limited renders the services related to the proceeding’s funding, realistic examinations
preliminary to the proceedings, petition funding, and disbursement of adverse cost order,
tactical planning, reviewing, and handling the proceeding. This company also helps in to
settle and to maximize the claim’s value. In beginning, the name of company was Bentham
IMF Limited. Further, in 2014 the name was changed as IMF Bentham Limited. The
practicing areas of company involve the commercial proceedings, class action, funding for
liquidation, and arbitration (Lewandowski, 2016).