Conceptual Framework Analysis of Financial Statements: A Report
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AI Summary
This report provides an in-depth analysis of the conceptual framework in accounting, examining the financial statements of Australian Agricultural Company Limited and Australian Vintage Limited. It explores key elements, accounting concepts, and standards, including IASB, AASB, and IFRS guidelines, to assess their application in practice. The report covers concepts like prudence, disclosure of differences, segment reporting, and the treatment of fixed and current assets. It highlights the companies' adherence to and deviations from the framework, considering aspects such as historical cost versus fair value accounting, and the use of various accounting assumptions. The analysis aims to help stakeholders make informed decisions by understanding the reliability, consistency, and comparability of financial information, ultimately offering recommendations and conclusions based on the findings. The report also considers the impact of different corporation acts and segment reporting on financial data presentation.
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RUNNING HEAD: Advance Accounting
1
ADVANCE ACCOUNTING
1
ADVANCE ACCOUNTING
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Executive Summary
This report depicts the users about the conceptual framework concept. This report has
been prepared to make them understand about the key elements and accounting concept
which could assist organization’s external and internal stakeholders to make decision about
the company. In this report Australia virgin company and Australia Agriculture Company
limited’s annual report have been analyzed to recognize the concepts used by the company.
This corporation’s financial statement has been purposeful according to understandability of
conceptual framework which has been analyzed. IFSR, IASB, AASB and accounting
standards have been analyzed to perform this study.
2
Executive Summary
This report depicts the users about the conceptual framework concept. This report has
been prepared to make them understand about the key elements and accounting concept
which could assist organization’s external and internal stakeholders to make decision about
the company. In this report Australia virgin company and Australia Agriculture Company
limited’s annual report have been analyzed to recognize the concepts used by the company.
This corporation’s financial statement has been purposeful according to understandability of
conceptual framework which has been analyzed. IFSR, IASB, AASB and accounting
standards have been analyzed to perform this study.

Advance Accounting
3
Contents
Introduction.......................................................................................................................4
Australian Agriculture Company limited.........................................................................4
Final Financial Statement.............................................................................................4
Extract of annual reports...............................................................................................5
Snap shot of annual reports...........................................................................................5
Australian Vintage limited................................................................................................7
Income Statement.........................................................................................................7
Extract of annual reports...............................................................................................8
Snap shot of annual reports...........................................................................................8
Concept of prudence.......................................................................................................10
Disclosure of differences................................................................................................10
Segment reporting...........................................................................................................11
Fixed assets.....................................................................................................................11
Current assets..................................................................................................................11
Recommendation and conclusion...................................................................................11
References.......................................................................................................................13
3
Contents
Introduction.......................................................................................................................4
Australian Agriculture Company limited.........................................................................4
Final Financial Statement.............................................................................................4
Extract of annual reports...............................................................................................5
Snap shot of annual reports...........................................................................................5
Australian Vintage limited................................................................................................7
Income Statement.........................................................................................................7
Extract of annual reports...............................................................................................8
Snap shot of annual reports...........................................................................................8
Concept of prudence.......................................................................................................10
Disclosure of differences................................................................................................10
Segment reporting...........................................................................................................11
Fixed assets.....................................................................................................................11
Current assets..................................................................................................................11
Recommendation and conclusion...................................................................................11
References.......................................................................................................................13

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4
Introduction:
Conceptual framework is just a guideline offered by the IASB and AASB to the
professionals and the companies to maintain, present and prepare the final statements of the
company. It is not evaluated as a regulation or a guideline about preparation and presentation
of final statement of a company. These conceptual framework rules help the company to
manage the aspects related to final financial statement and assist them to prepare the bets
final statements and present them in a well manner. These frameworks have been set by the
IASB/AASB to make it quite easy for the stakeholders to make decision about the
performance and position of the company. It ensures the internal and external stakeholder of
the company about their reliability, consistency, compliance, relevancy, comparability etc. It
has removed the complexity from the earlier set regulations to make it easy for the
professionals to prepare the final statements and present them in a good manner.
Basically, conceptual framework has been set to offer huge knowledge about the
regulations, norms, rules of IASB and AASB standards so that the professionals find it easy
to understand and apply it while preparing the final statements. With the help of Conceptual
framework, it becomes quite easy for the stakeholders to make decision about the
performance and position of the company.
Australian Agriculture Company limited:
Australian Agricultural Company Limited manufactures and sells beef in Australian
market. This company is engaging in possessing, functioning, and developing countrified
properties; dealing in beef, including reproduction, feedlot ting, back grounding and
processing the cattle and the grass fed beef production, grain fed beef production, and Wagyu
beef production. This company functions under many brands such as Wylarah, 1824,
Westholme, Welltree and Brunette Downs Grass-fed Beef brands. It functions an
incorporated cattle creation system across around 18 owned cattle stations, 7 agisted
properties, 2 leased stations, and a beef processing facility, 2 owned feedlots and 2 owned
farms which are covering an area of around 7 million hectares of Queensland and around the
Northern Territory (Bloomberg, 2017). The Australian agriculture company limited also
exports its beef items to around 20 countries. It has been founded in 1824 and currently it is
in Newstead, Australia.
Final Financial Statement:
4
Introduction:
Conceptual framework is just a guideline offered by the IASB and AASB to the
professionals and the companies to maintain, present and prepare the final statements of the
company. It is not evaluated as a regulation or a guideline about preparation and presentation
of final statement of a company. These conceptual framework rules help the company to
manage the aspects related to final financial statement and assist them to prepare the bets
final statements and present them in a well manner. These frameworks have been set by the
IASB/AASB to make it quite easy for the stakeholders to make decision about the
performance and position of the company. It ensures the internal and external stakeholder of
the company about their reliability, consistency, compliance, relevancy, comparability etc. It
has removed the complexity from the earlier set regulations to make it easy for the
professionals to prepare the final statements and present them in a good manner.
Basically, conceptual framework has been set to offer huge knowledge about the
regulations, norms, rules of IASB and AASB standards so that the professionals find it easy
to understand and apply it while preparing the final statements. With the help of Conceptual
framework, it becomes quite easy for the stakeholders to make decision about the
performance and position of the company.
Australian Agriculture Company limited:
Australian Agricultural Company Limited manufactures and sells beef in Australian
market. This company is engaging in possessing, functioning, and developing countrified
properties; dealing in beef, including reproduction, feedlot ting, back grounding and
processing the cattle and the grass fed beef production, grain fed beef production, and Wagyu
beef production. This company functions under many brands such as Wylarah, 1824,
Westholme, Welltree and Brunette Downs Grass-fed Beef brands. It functions an
incorporated cattle creation system across around 18 owned cattle stations, 7 agisted
properties, 2 leased stations, and a beef processing facility, 2 owned feedlots and 2 owned
farms which are covering an area of around 7 million hectares of Queensland and around the
Northern Territory (Bloomberg, 2017). The Australian agriculture company limited also
exports its beef items to around 20 countries. It has been founded in 1824 and currently it is
in Newstead, Australia.
Final Financial Statement:
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Australian agriculture limited is an organization that has a main goal of earning the
profits and enhances the growth of the company. A registration has been done by this
company in the Australian stock exchange so that it could trade into the Australian stock
market. Annual report of the company has been analyzed and found that entire aspects of the
company which has been shown into the annual report of the company are not according to
the IASB and AASB framework. Company has used many aspects which are not ethical such
as it somewhere company has used the traditional method and somewhere modern approach
has been used by the company according to its benefits (ACCA Global, 2017). It has been
analyzed that the final statements of the company has not been prepared according to the
IASB and AASB compliances.
Extract of annual reports:
Annual report of the company has been analyzed to conduct a study over the
Australian agriculture company limited. The following extracts have been evaluated further
for this study:
The final financial statement of the Australian agriculture company limited:
Has not been incorporated with entire IASB and AASB guidelines
Corporation act has not been considered by the accountant while preparing the statements
Historical cost concept as well s fair value accounting, both approaches have been considered
AUD currency sign has been used for the data in the annual reports
Some data has been misstated in the annual report of the company
International regulations of accounting have not been followed (Annual report, 2017)
Materiality, going concern and accrued accounting assumptions have been used.
Snap shot of annual reports:
The annual report evaluation of the company depict that there are huge mistakes
which has taken place while preparing and presenting this data. Still, it has been analyzed that
the mistakes are of a little level which could not make a huge impact over the reports and
opinion of stakeholder of the company about the operations, performance and profitability of
the firm (IASB, 2006). It has been analyzed that company have tried to use the entire
5
Australian agriculture limited is an organization that has a main goal of earning the
profits and enhances the growth of the company. A registration has been done by this
company in the Australian stock exchange so that it could trade into the Australian stock
market. Annual report of the company has been analyzed and found that entire aspects of the
company which has been shown into the annual report of the company are not according to
the IASB and AASB framework. Company has used many aspects which are not ethical such
as it somewhere company has used the traditional method and somewhere modern approach
has been used by the company according to its benefits (ACCA Global, 2017). It has been
analyzed that the final statements of the company has not been prepared according to the
IASB and AASB compliances.
Extract of annual reports:
Annual report of the company has been analyzed to conduct a study over the
Australian agriculture company limited. The following extracts have been evaluated further
for this study:
The final financial statement of the Australian agriculture company limited:
Has not been incorporated with entire IASB and AASB guidelines
Corporation act has not been considered by the accountant while preparing the statements
Historical cost concept as well s fair value accounting, both approaches have been considered
AUD currency sign has been used for the data in the annual reports
Some data has been misstated in the annual report of the company
International regulations of accounting have not been followed (Annual report, 2017)
Materiality, going concern and accrued accounting assumptions have been used.
Snap shot of annual reports:
The annual report evaluation of the company depict that there are huge mistakes
which has taken place while preparing and presenting this data. Still, it has been analyzed that
the mistakes are of a little level which could not make a huge impact over the reports and
opinion of stakeholder of the company about the operations, performance and profitability of
the firm (IASB, 2006). It has been analyzed that company have tried to use the entire

Advance Accounting
6
guideline of conceptual framework while preparing and presenting the final financial
statements of the company.
6
guideline of conceptual framework while preparing and presenting the final financial
statements of the company.

Advance Accounting
7
(Annual Report, 2016)
It has been analyzed through this study that the entire statement of the company has
been prepared in a good manner to depict a good knowledge about the performance,
profitability, growth, diversity etc factors of the company. It has been found that every
assumption (Accounting assumptions which are going concern, accrual, materiality etc.) has
been taken into consideration while preparing the reports.
Australian Vintage limited:
Australian Vintage Ltd is involved into wine production, marketing, packaging and in
distribution activities. This company operates its functions through North America/
7
(Annual Report, 2016)
It has been analyzed through this study that the entire statement of the company has
been prepared in a good manner to depict a good knowledge about the performance,
profitability, growth, diversity etc factors of the company. It has been found that every
assumption (Accounting assumptions which are going concern, accrual, materiality etc.) has
been taken into consideration while preparing the reports.
Australian Vintage limited:
Australian Vintage Ltd is involved into wine production, marketing, packaging and in
distribution activities. This company operates its functions through North America/
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Australasia Packaged, Cellar Door, UK/Europe, North America/ Australia Bulk & Processing
segments and wine grower segments. It provides wine under many brands such as Miranda,
McGuigan, Nepenthe, Passion Pop brands and Tempus Two. This company also possesses,
administers, and maintains wine grower and offers packaged and mass wines, at the same
time, it also offers concentrate over the winery processing services. This company sells its
manufacturing items through distributer, wholesaler and retailer channels, as well as it also
uses the regional outlets to sell its products (Bloomberg, 2017). This company is situated in
Balmain, Australia.
Income Statement:
Australian vintage limited is an organization that has a main goal of earning the
profits and enhances the growth of the company. Annual report of the company has been
analyzed and found that entire aspects of the company which has been shown into the annual
report of the company are not according to the IASB and AASB framework. Company has
used many aspects which are not ethical such as it somewhere company has used the
traditional method and somewhere modern approach has been used by the company
according to its benefits (Bezemer, 2010). A registration has been done by this company in
the Australian stock exchange so that it could trade into the Australian stock market. It has
been analyzed that the final statements of the company has not been prepared according to
the IASB and AASB compliances.
Extract of annual reports:
Annual report of the company has been analyzed to conduct a study over the financial
data presentation of Australian virgin limited. The following extracts have been evaluated
further for this study:
The final financial statement of the Australian vintage limited:
Has not been incorporated with entire IASB and AASB guidelines
Corporation act has not been considered by the accountant while preparing the statements
Historical cost concept as well s fair value accounting, both approaches have been considered
AUD currency sign has been used for the data in the annual reports
Some data has been misstated in the annual report of the company (Annual report, 2017)
8
Australasia Packaged, Cellar Door, UK/Europe, North America/ Australia Bulk & Processing
segments and wine grower segments. It provides wine under many brands such as Miranda,
McGuigan, Nepenthe, Passion Pop brands and Tempus Two. This company also possesses,
administers, and maintains wine grower and offers packaged and mass wines, at the same
time, it also offers concentrate over the winery processing services. This company sells its
manufacturing items through distributer, wholesaler and retailer channels, as well as it also
uses the regional outlets to sell its products (Bloomberg, 2017). This company is situated in
Balmain, Australia.
Income Statement:
Australian vintage limited is an organization that has a main goal of earning the
profits and enhances the growth of the company. Annual report of the company has been
analyzed and found that entire aspects of the company which has been shown into the annual
report of the company are not according to the IASB and AASB framework. Company has
used many aspects which are not ethical such as it somewhere company has used the
traditional method and somewhere modern approach has been used by the company
according to its benefits (Bezemer, 2010). A registration has been done by this company in
the Australian stock exchange so that it could trade into the Australian stock market. It has
been analyzed that the final statements of the company has not been prepared according to
the IASB and AASB compliances.
Extract of annual reports:
Annual report of the company has been analyzed to conduct a study over the financial
data presentation of Australian virgin limited. The following extracts have been evaluated
further for this study:
The final financial statement of the Australian vintage limited:
Has not been incorporated with entire IASB and AASB guidelines
Corporation act has not been considered by the accountant while preparing the statements
Historical cost concept as well s fair value accounting, both approaches have been considered
AUD currency sign has been used for the data in the annual reports
Some data has been misstated in the annual report of the company (Annual report, 2017)

Advance Accounting
9
International regulations of accounting have not been followed
Materiality, going concern and accrued accounting assumptions have been used.
Snap shot of annual reports:
The annual report evaluation of the company depict that there accountant of the
company has prepared and presented the financial data with a good understanding and
knowledge. Still, it has been analyzed that the mistakes which are of a little level that could
not make a huge impact over the reports and opinion of stakeholder of the company about the
operations, performance and profitability of the firm. It has been analyzed that company have
tried to use the entire guideline of conceptual framework while preparing and presenting the
final financial statements of the company (IASB, 2007).
It has been analyzed through this study that the entire statement of the company has
been prepared in a good manner to depict a good knowledge about the performance,
profitability, growth, diversity etc factors of the company. It has been found that every
assumption (Accounting assumptions which are going concern, accrual, materiality etc.) has
been taken into consideration while preparing the reports.
9
International regulations of accounting have not been followed
Materiality, going concern and accrued accounting assumptions have been used.
Snap shot of annual reports:
The annual report evaluation of the company depict that there accountant of the
company has prepared and presented the financial data with a good understanding and
knowledge. Still, it has been analyzed that the mistakes which are of a little level that could
not make a huge impact over the reports and opinion of stakeholder of the company about the
operations, performance and profitability of the firm. It has been analyzed that company have
tried to use the entire guideline of conceptual framework while preparing and presenting the
final financial statements of the company (IASB, 2007).
It has been analyzed through this study that the entire statement of the company has
been prepared in a good manner to depict a good knowledge about the performance,
profitability, growth, diversity etc factors of the company. It has been found that every
assumption (Accounting assumptions which are going concern, accrual, materiality etc.) has
been taken into consideration while preparing the reports.

Advance Accounting
10
(Annual Report, 2016)
Concept of prudence:
It is an accounting concept which signifies about the final statements presentation of a
firm. This concept describes about the final statements that it should record entire liabilities,
expenses and other factors of the firm at the time of occurring it or it also depict that if any
expectation for future expenses has taken place than the data must be recorded even before
taking that transaction a place (IASB Framework, 2001). While preparing and presenting
transactions with prudence concept consideration, it has been evaluated from the
professionals to not to overstate or understate the figures of the statements.
10
(Annual Report, 2016)
Concept of prudence:
It is an accounting concept which signifies about the final statements presentation of a
firm. This concept describes about the final statements that it should record entire liabilities,
expenses and other factors of the firm at the time of occurring it or it also depict that if any
expectation for future expenses has taken place than the data must be recorded even before
taking that transaction a place (IASB Framework, 2001). While preparing and presenting
transactions with prudence concept consideration, it has been evaluated from the
professionals to not to overstate or understate the figures of the statements.
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Advance Accounting
11
Through analyzing the annual report of Australian agriculture company Ltd, it has
been evaluated that the business is successively following the concept of conceptual
framework. Accountants of the company have prepared a good statement to depict a better
knowledge about the financial report of the company. Through analyzing the annual report of
Australia virgin limited, same outcome has been found (Chorafas, 2006). But at the same
time, it has been found that both the firms have made the changes in their annual reports
according to the prudence concept and it has also been mentioned that any exploitation have
not been made in the financial reports to influence the stakeholders.
Disclosure of differences:
It has been analyzed that both companies have prepared and presented the figures
according to AASB, IASB and IFRS concepts. Corporation act, 2001 has been followed by
both the companies to manage the figures (IFRS, 2008). The Australian agriculture company
limited has also considered the UK corporation act to manage the figures in the annual
reports of the company so that some difference could take place in disclosing the entire
figures because of different corporation act. This difference can also take place due to various
different functioning of both the companies (ACCA Global, 2017).
Segment reporting:
Segment reporting offers depth knowledge about the turnover, revenue and other
related aspect of the financial figures of the company. More the nature, business functioning
of both the companies may be classified through many aspects such as the companies where
they are diversifying their market, business functioning, their customers etc (Vollmer,
Mennicken and Preda, 2009). It has been analyzed that the products of both the companies
are different and thus the differences could take place in their annual reports (Jones, 2006).
Fixed assets:
It has been analyzed that both the firms have evaluated the fixed assets according to
the historical cost concept. The method of depreciation of both the companies is also same.
Still figures of the company have been presented in a different way in both the firms (ISAB
Framework, 2001).
Current assets:
11
Through analyzing the annual report of Australian agriculture company Ltd, it has
been evaluated that the business is successively following the concept of conceptual
framework. Accountants of the company have prepared a good statement to depict a better
knowledge about the financial report of the company. Through analyzing the annual report of
Australia virgin limited, same outcome has been found (Chorafas, 2006). But at the same
time, it has been found that both the firms have made the changes in their annual reports
according to the prudence concept and it has also been mentioned that any exploitation have
not been made in the financial reports to influence the stakeholders.
Disclosure of differences:
It has been analyzed that both companies have prepared and presented the figures
according to AASB, IASB and IFRS concepts. Corporation act, 2001 has been followed by
both the companies to manage the figures (IFRS, 2008). The Australian agriculture company
limited has also considered the UK corporation act to manage the figures in the annual
reports of the company so that some difference could take place in disclosing the entire
figures because of different corporation act. This difference can also take place due to various
different functioning of both the companies (ACCA Global, 2017).
Segment reporting:
Segment reporting offers depth knowledge about the turnover, revenue and other
related aspect of the financial figures of the company. More the nature, business functioning
of both the companies may be classified through many aspects such as the companies where
they are diversifying their market, business functioning, their customers etc (Vollmer,
Mennicken and Preda, 2009). It has been analyzed that the products of both the companies
are different and thus the differences could take place in their annual reports (Jones, 2006).
Fixed assets:
It has been analyzed that both the firms have evaluated the fixed assets according to
the historical cost concept. The method of depreciation of both the companies is also same.
Still figures of the company have been presented in a different way in both the firms (ISAB
Framework, 2001).
Current assets:

Advance Accounting
12
It has been analyzed that both the firms have evaluated the current assets according to
the going concern concept. The method of inventory management technique of both the
companies is also same.
Recommendation and conclusion:
Through this report, it has been analyzed that conceptual framework rules help the
company to manage the aspects related to final financial statement and assist them to prepare
the bets final statements and present them in a well manner. These frameworks have been set
by the IASB/AASB to make it quite easy for the stakeholders to make decision about the
performance and position of the company. Thus it is recommended to both the companies to
manage the framework and present the data accordingly. It is also suggested to the internal
and external stakeholder of the company to make some changes into the accounting policy to
make their final reports better.
Thus it could be concluded that both companies have prepared and presented the
figures according to AASB, IASB and IFRS concepts. Corporation act, 2001 has been
followed by both the companies to manage the figures. Some changes have taken place due to
different nature, business functioning, products, different diversified countries etc. It has also
been concluded that reliability, consistency, compliance, relevancy, comparability etc
enhances due to conceptual framework.
12
It has been analyzed that both the firms have evaluated the current assets according to
the going concern concept. The method of inventory management technique of both the
companies is also same.
Recommendation and conclusion:
Through this report, it has been analyzed that conceptual framework rules help the
company to manage the aspects related to final financial statement and assist them to prepare
the bets final statements and present them in a well manner. These frameworks have been set
by the IASB/AASB to make it quite easy for the stakeholders to make decision about the
performance and position of the company. Thus it is recommended to both the companies to
manage the framework and present the data accordingly. It is also suggested to the internal
and external stakeholder of the company to make some changes into the accounting policy to
make their final reports better.
Thus it could be concluded that both companies have prepared and presented the
figures according to AASB, IASB and IFRS concepts. Corporation act, 2001 has been
followed by both the companies to manage the figures. Some changes have taken place due to
different nature, business functioning, products, different diversified countries etc. It has also
been concluded that reliability, consistency, compliance, relevancy, comparability etc
enhances due to conceptual framework.

Advance Accounting
13
References:
ACCA Global, 2017. Conceptual framework for financing activities. Retrieved as on 5 April
2017 from http://www.accaglobal.com/gb/en/student/exam-support-resources/fundamentals-
exams-study-resources/f7/technical-articles/iasb-conceptual-framework-financial-
reporting.html
Annual reports. 2016. Australia Agriculture company limited. Retrieved as on 18 august 2017
from http://www.annualreports.com/HostedData/AnnualReports/PDF/ASX_AAC_2016.pdf
Annual reports. 2016. Australia Virgin limited. Retrieved as on 18 august 2017 from
http://www.australianvintage.com.au/wp-content/uploads/2016/10/AVL-2016-Annual-
Report-Website.pdf
Bezemer, D. J., 2010. Understanding financial crisis through accounting models. Accounting,
Organizations and Society, 35(7), 676-688.
Bloomberg. 2017. Australia agriculture company Ltd. Retrieved as on 18 August 2017 from
https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=8745402
Bloomberg. 2017. Australia virgin Ltd. Retrieved as on 18 August 2017 from
https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=879165
Chorafas, D.N. 2006. IGRS, Fair Value and Corporate Governance: The Impact on Budgets,
Balance Sheets and Management Accounts. Oxford: Elsevier Publishing
IASB. 2006. Summary of International Accounting Standards. International Accounting
Standard Boards. Retrieved 20 January 2007 fromhttp://www.iasb.org/Home.htm
IASB. 2007. Fair Value Measurement. Part 2: SFA's 157 Fair Value Measurements:
Comments to be submitted. London: IASB
IFRS. 2008. International Financial Reporting Standards. London: IASB
ISAB Framework. 2001. Framework for the preparation and presentation of Financial
Statements. International Standards Accounting Board
Jones, M. 2006. Financial Accounting. Chichester: John Wiley & Sons
13
References:
ACCA Global, 2017. Conceptual framework for financing activities. Retrieved as on 5 April
2017 from http://www.accaglobal.com/gb/en/student/exam-support-resources/fundamentals-
exams-study-resources/f7/technical-articles/iasb-conceptual-framework-financial-
reporting.html
Annual reports. 2016. Australia Agriculture company limited. Retrieved as on 18 august 2017
from http://www.annualreports.com/HostedData/AnnualReports/PDF/ASX_AAC_2016.pdf
Annual reports. 2016. Australia Virgin limited. Retrieved as on 18 august 2017 from
http://www.australianvintage.com.au/wp-content/uploads/2016/10/AVL-2016-Annual-
Report-Website.pdf
Bezemer, D. J., 2010. Understanding financial crisis through accounting models. Accounting,
Organizations and Society, 35(7), 676-688.
Bloomberg. 2017. Australia agriculture company Ltd. Retrieved as on 18 August 2017 from
https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=8745402
Bloomberg. 2017. Australia virgin Ltd. Retrieved as on 18 August 2017 from
https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=879165
Chorafas, D.N. 2006. IGRS, Fair Value and Corporate Governance: The Impact on Budgets,
Balance Sheets and Management Accounts. Oxford: Elsevier Publishing
IASB. 2006. Summary of International Accounting Standards. International Accounting
Standard Boards. Retrieved 20 January 2007 fromhttp://www.iasb.org/Home.htm
IASB. 2007. Fair Value Measurement. Part 2: SFA's 157 Fair Value Measurements:
Comments to be submitted. London: IASB
IFRS. 2008. International Financial Reporting Standards. London: IASB
ISAB Framework. 2001. Framework for the preparation and presentation of Financial
Statements. International Standards Accounting Board
Jones, M. 2006. Financial Accounting. Chichester: John Wiley & Sons
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McGregor, W., and Street, D. L., 2007. IASB and FASB face challenges in pursuit of joint
conceptual framework. Journal of International Financial Management and Accounting,
18(1), 39-51.
Vollmer, H., Mennicken, A., and Preda, A., 2009. Tracking the numbers: Across accounting
and finance, organizations and markets. Accounting, Organizations and Society, 34(5), 619-
637.
14
McGregor, W., and Street, D. L., 2007. IASB and FASB face challenges in pursuit of joint
conceptual framework. Journal of International Financial Management and Accounting,
18(1), 39-51.
Vollmer, H., Mennicken, A., and Preda, A., 2009. Tracking the numbers: Across accounting
and finance, organizations and markets. Accounting, Organizations and Society, 34(5), 619-
637.
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