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Financial Reporting Disclosures in the Australian Corporate Sector

   

Added on  2023-06-04

7 Pages494 Words130 Views
Finance
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FINANCIAL REPORTING
DISCLOSURES IN THE
AUSTRALIAN CORPORATE SECTOR
Financial Reporting Disclosures in the Australian Corporate Sector_1

DESCRIPTION OF THE LEASE
AASB 16 (leases) has played a key role in
disengaging present requirement of accounting
for leases under the AASB 17 (leases).
lease classification of the Woolworths
liability of lease projects that the present value of
payments of future lease of the company
(Woolworths limited, 2017)
the company’s accounting for leases (as a lessee)
also remains unchanged based on AASB 16.
Financial Reporting Disclosures in the Australian Corporate Sector_2

THE COMPANY’S ACCOUNTING FOR LEASES
(AS A LESSEE) ALSO REMAINS UNCHANGED
BASED ON AASB 16
standard is required for corporate reporting
objective of the project is to ensure high-quality
performance based on the current accounting standard
primary duties of the company’s project also cover
budgeting, accounting policies, impact assessment,
implementation of prices, identifying system
requirements, and finishing the implementation
strategy (Woolworths limited, 2017)
Financial Reporting Disclosures in the Australian Corporate Sector_3

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