Afterpay Touch Group Limited: Contemporary Issues in Accounting

This report examines contemporary issues in accounting through the lens of Afterpay Touch Group Limited, an Australian financial technology company. It identifies changes in the accounting sector and their impact on businesses. The report emphasizes the importance of disclosing relevant financial information to stakeholders such as investors, shareholders, customers, suppliers, financial institutions, and the government, enabling them to assess the company's position. The study concludes that the exemption of retrospective changes in accounting policies during financial statement preparation will guide businesses in utilizing IFRS modules for financial reporting compliance.

Contemporary issues
in accounting
Student name:
Afterpay Touch Group Limited

 Identifying changes in the accounting sector
is a research study’s topic which will further
be followed by describing different practices
of accounting.
 The aim of this study is to draw attention on
all the contemporary issues in the
accounting and its effect on the life of
businesses to get an idea as for how they
are dealing with these changes.
Introduction

 Afterpay touch group limited is an
Australian organization which is involved in
the financial technology operations.
 The company allows retailers various
services regarding the facility to buy the
products now and make the payment of the
product later without the requirement of
upfront fees, traditional credit and interest
amount (home, 2019).
Company overview

 “Contemporary issues in accounting”
requires a great discussion on the
accounting policies, accounting standards
and the changes in the accounting process
of the business.
 Annual report of the company describes
that all the accounting standards and the
accounting rules which has been used by
the company while recording the financial
activities of the business in its annual
report.
Contemporary issues

 Main stakeholders of a business are
investors, shareholders, customers,
suppliers, financial institutions and
government.
 It is important for a business to disclose all
the relevant information of the business so
that it becomes easy for them to evaluate
the position of the company in the industry.
Effect over the
stakeholders

 It is summarized from the above study that
exemption of retrospective changes in the
accounting policies during the preparation
of the books of accounts or the financial
statements will guide all the businesses
who think financial reporting compliance is
a difficult mode in utilizing these regulations
by listing its company with the IFRS
modules.
Conclusion

 Annual report. 2018. Afterpay touch group limited.
Retrieved from: https://www.afterpaytouch.com/who-we-are
(accessed 23/1/2019).
 Elad, C., 2016. International Classification of Financial
Reporting, Christopher W. Nobes.Routledge, Abington, UK
(2014),(160 pages,£ 95), ISBN: 0415736935.
 Home. 2018. Afterpay touch group limited. Retrieved from:
https://www.afterpaytouch.com/results-reports (accessed
23/1/2019).
 Zeff, S.A., van der Wel, F. and Camfferman, C.,
2016. Company financial reporting: A historical and
comparative study of the Dutch regulatory process.
Routledge.
References