financial statement of Telstra Corporation Company Assignment

Running head: REPORT ON ACCOUNTING POLICY 1

REPORT ON ACCOUNTING POLICY 2
REPORT ON ACCONTING POLICY
Name
Institution

REPORT ON ACCOUNTING POLICY 3
REPORT ON ACCOUNTING POLICY
Executive summary of the report
The report is made up of five critical elements. The primary focus is discussing the
financial statement from Telstra Corporation Company (notes to the financial statements). Dated
30 June 2015. These financial statement has been used to derive various examples of accounting
creativity.
The statement shows how accounting creativity can be used with accounting policies.
The different types of creativity that have been endorsed by the report in drafting the financial
report. The effects that have been achieved by the company through employing the different
accounting creativity on the policy (Moatti, Ren, Anand & Dussauge 2015).
The paper also focuses on the various types of intentions that led the directors to endorse
the different kinds of accounting policies and accounting creativity that the used.
Lastly, the paper focuses on the various types of opportunistic behaviors used by the
statement in submitting the financial report. The multiple types remedy to the opportunistic
behavior exhibited by the accounting managers of the institution.

REPORT ON ACCOUNTING POLICY 4
Introduction
Different accounting policymakers develop accounting standards. The accounting
standards are rules that specify the type of measurement, recognition, and method that can be
used by reporting entities in preparing general financial statements (Aribarg ET. Al 2018).
The financial statement from which the reports are made should select the most
appropriate policy for use in preparation of the statement reports. In rare scenarios where the
company cannot follow the accounting policy standard due to a justified reason. The system
allows for a proper adoption strategy. The chosen strategy however, should be within the scope
of the standards set by the policymakers.
There are different choices of accounting standards that can be used. They include;
selection based on accounting standard setters, the determination by accounting preparers of
financial statements and creative accounting policy. The method exploited by this report is the
use of original accounting policy. The choice of creative accounting chosen is mostly done so
that it satisfies (Henderson et al 2018).
The chosen company for the report
The financial statement chosen for the report is from the description of TELSTRA
CORPORATION. The company is a telecommunication firm that provide mobile operations all
over the globe. It is currently the leading telecommunication company in Australia. It offers full
range of communication services to the customers. The following link provides access to their
financial statement (Kim 2015)
https://www.telstra.com.au/content/dam/tcom/about-us/investors/pdf%20D/telstra-annual-report-