Accounting Concepts and Measurement Methods Used by Harvey Norman

T
HA 3011
Advanced Financial Accounting

Table of Contents
Structure...................................................................................................................................................................................... 2
Introduction.................................................................................................................................................................................. 3
Description of Accounting Concepts............................................................................................................................................. 4
Conceptual Framework and the issue of measurement............................................................................................................... 7
Fundamental Qualitative Characteristics – Understanding of relevance and Representational Faithfulness.............................12
Conclusion.................................................................................................................................................................................. 13
References................................................................................................................................................................................. 14
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Structure
In this assignment various accounting terms, concepts and methods used by one of the listed company Harvey norman will be covered and
described with citing some examples. It will be explained in detail in the later part of the assignment. It explains how various accounting
fundamental concepts are used and applied using appropriate assumptions in line with conceptual financial reporting framework. This
assignment also covers how estimates are made or what is the basis of accounting estimates. Besides accounting estimates, various valuation
methods used by Harvey norman is also analyzed and discussed. It also explains about the management responsibilty of preparation and
presentation of financial statement.
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