This report analyzes corporate accounting practices, focusing on how companies raise funds, manage liabilities, and measure assets. It examines two companies, Wesfarmers and JB Hi-Fi, comparing their sources of funds (including debt, equity, and retained earnings) and how these have evolved over time. The report evaluates the merits and shortcomings of each funding source, including interest-bearing debts, issued capital, reserves, and retained earnings. It then delves into the different types of liabilities reported by the companies, including current and non-current liabilities, and explains the application of AASB 137, Provisions, Contingent Liabilities, and Contingent Assets. Furthermore, the report identifies the different categories of assets used by the companies, such as cash, receivables, inventory, and property, plant, and equipment, and explores the measurement bases applied to these assets, including amortized cost, fair value, and cost less depreciation.