Analysis of Accounting Issues in Financial Reporting for Goodman Group

This report provides an in-depth analysis of accounting issues within the financial reporting of Goodman Group and Gateway Lifestyle. It explores key areas such as remuneration reports, short-term decision-making, and the application of the conceptual framework. The report delves into specific Australian Accounting Standards Board (AASB) issues, including lease accounting, intangible assets, contingent legal liabilities, taxation, and transfer pricing. It examines the advantages and disadvantages of financial reporting and assesses the adherence to accounting principles and standards. Furthermore, the report investigates the general-purpose financial reports for users in financial decisions, focusing on the practical implications of the AASB framework. The analysis includes a review of the remuneration report of David Jones and Gateway Lifestyle Group Limited, highlighting issues related to remuneration rates and performance metrics. The report concludes with a summary of the key findings and their implications for stakeholders, emphasizing the importance of transparent and reliable financial reporting for informed decision-making.

Running head: ISSUES IN ACCOUNTING
Issues in Accounting
Name of the Student:
Name of the University:
Authors Note:

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Table of Contents
Introduction......................................................................................................................................2
Analysis of Remuneration Report of David Jones and Gateway lifestyle group Limited...............3
Issues with Remuneration Rate.......................................................................................................4
Short-Term Decision-Making......................................................................................................5
Conceptual Framework....................................................................................................................5
AASB Issues like Lease Accounting...............................................................................................6
General Purpose Financial Reports for Users in Financial Decisions with AASB Framework......6
Leases..........................................................................................................................................6
Intangible Assets..........................................................................................................................7
Contingent Legal Liabilities........................................................................................................7
Taxation.......................................................................................................................................7
Transfer Pricing...........................................................................................................................8
Prudence..........................................................................................................................................8
Conceptual Framework................................................................................................................8
Updating Process Conceptual Framework...................................................................................8
Advantages and Disadvantages of Financial Reporting..............................................................9
Conclusion.......................................................................................................................................9
Reference List................................................................................................................................11

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Introduction
This research oversees exploring the segments driving society of the affiliation and
instruments. In this particular assignment, emphasis has been given on understanding the strategy
that directions towards working extraordinary presentation for Australian recorded association
named as Goodman group stapled (David Joneslimited.com.au. 2016). Goodman group stapled is
one of the exchanged on an open market recorded associations that have wide operations in retail
part in Australia and New Zealand.
Gateway lifestyle group stapled is a retail organization arranged in Australia that includes
operations inside retail, composts, chemicals, modern, coal mining alongside wellbeing items.
This retail association includes the second position with respect to pay. This particular
association works in the retail business in and across finished Australia and New Zealand in
variety of divisions, for instance, Supermarkets, Home Improvement, Hotels and furthermore
Liquor and General Merchandise. The present examination ponders the organization structures
including appraisal of adherence towards precepts and standards by separating General Purpose
of Financial Reports for customers of cash related verbalizations of Gateway lifestyle group
stapled. Toward the day's end, the present examination oversees issues identifying with pay
structure and moreover inside and outside controls (Zhou, Ou and Li 2016). Thus, the present
section plates seeing the sensibility models and moreover adherence to connected structure of
cash related uncovering.
This particular area of undertaking considers the all around helpful of budgetary
uncovering for the association named as Gateway lifestyle group stapled and Goodman group
stapled (David Joneslimited.com.au. 2016). This infers the association faces distinctive issues

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especially in the pay report as expelled from the yearly report of Gateway lifestyle group stapled.
This particular retail association bases altogether on financial specialists returns after fruitful
course of action of capital and moreover passing on cluster centers generally speaking. From
financial viewpoint, Goodman group stapled and key requirements for 2016 is fulfilling medium-
term configuration centers and passing on Group coordination and joint effort targets. This
association makes systems for strengthening the accounting report and likewise supervising
Group capital (Weil, Schipper. moreover, Francis 2013).
Analysis of Remuneration Report of David Jones and Gateway lifestyle group Limited
Board Committee Members of Gateway lifestyle group develops the remuneration board
named as People Policy Committee (Salas and Campos 2016). This admonitory gathering is
made for keeping it at a standard level and combination of Group Remuneration for checking the
believability and relationship of execution. It can be seen that People Policy Committee
aggregates with the given requirements said by ASX recommendations. To the degree Auditor
Report on pay is concerned, it deals with the truth whereby Board of Directors goes for prepare
and what's more displaying the pay report according to Section 30A of the Corporation Act for
the year 2001. Survey report is set up according to AAS (Australian Auditing Standards) (Uno
and Bartelmus 2013).
The pay report of Goodman group has been dispersed for the year 2016 that copies
baffling execution for Goodman group and related results on Executive and Employee
Remuneration (Miller and Power 2013). Toward the day's end, Performance of the association
depends on the basic estimations supporting entire structure of pay. This particular pay report
demonstrates 0.1% advancement before Net Profit and Tax in association with prior year. Out of

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the blue, remuneration report demonstrate 0.7% diminishing presentation in the wage per share
in relationship with prior year. In this way, Management of Goodman group runs for interfacing
it with the pay structures of firm. This association has no course of action especially if there
ought to be an event of without a moment's hesitation driving forces (Lukka and Vinnari 2014).
There are distinctive respects of Gateway lifestyle group present in association with
recorded budgetary presentation and furthermore chronicled upkeep rights. To the degree
remuneration framework is concerned, it reveals the structure and furthermore organization of
pay for the retail based association named as Gateway lifestyle group (Lukka and Pihlanto 2014).
This association drives forward for supporting the satisfaction of general business comes to
fruition changing into movement potential motivation to its speculators. Figuratively speaking,
assessment of pay structure generally thinks about offering strong foundation for working under
flexibility of operations. This help is required in copying the substitute procedure for attracting
the support of endowments from staff people (Lev and Gu 2016). Thusly, Board and Senior
Executive Group by and large packs whole deal alliance agreeing with potential speculators by
taking idea diverse essentials of the potential financial specialists
On essential research, Remuneration Report of Goodman group depicts the association
tumbled in meeting the transient impulse outline (Kravet 2014). This has happened consequent to
overview at the execution door of 4% improvement of net advantage after obligation in
relationship with prior year.
Issues with Remuneration Rate
IFRS 8 connected inside Goodman group considers working segments for recognizing
attributes in light of inside uncovering as for parts of the Group (Kim, Liu and Zheng 2012). This

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should be often investigated by Chief Operating pioneers for dispersing advantages for the pieces
for looking over the strange condition of execution. This ought to be perceived by Group
Executives of Gateway lifestyle group Limited for choosing the working areas in light of inside
declaring sections. Goodman group and also General Merchandise serves ranges, for instance,
clothing, lifestyle things and furthermore home item and greatness things (Kaplan and Atkinson
2015).
Short-Term Decision-Making
IFRS 8 connected inside considers working bits for recognizing attributes in light of
inside uncovering concerning parts of the Group (Kim, Liu and Zheng 2012). This should be
every now and again investigated by Chief Operating pioneers for conveying advantages for the
sections for looking over the irregular condition of execution. This ought to be perceived by
Group Executives of Gateway lifestyle group Limited for choosing the working areas in light of
inside declaring sections. Goodman group and what's more General Merchandise serves ranges,
for instance, clothing, lifestyle things and moreover home item and superbness things (Kaplan
and Atkinson 2015).
Conceptual Framework
The Framework reveals the focuses and goals of money related enumerating that is
subjective in nature for rendering profitable information (Horngren et al. 2013). Toward the day's
end, Conceptual Structure oversees describing, seeing and also measuring diverse segments of
fiscal affirmations as noted under capital and upkeep of capital. The basic purpose of generally
helpful cash related uncovering is advancing fiscal information to the potential operators, banks
and credit masters remembering the ultimate objective to arrive at particular decisions.

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Concerned decisions fuse purchase; offer and furthermore holding of significant worth and
commitment instruments in sort of progress and other credit shapes. Subsequently, these
associations’ reports bombs in keeping an eye on all the noteworthy information stressed over
potential theorists and furthermore loan specialists and banks (Henderson et al. 2015).
AASB Issues like Lease Accounting
As under AASB, Lease accounting is arranged and accounted in the budgetary
explanation of Goodman group. This interpretation makes an arrangement were lease infers
fulfillment of dependence for decided assets (Freeman et al. 2014). This arrangement will be
expert for passing on right usage of points of interest. So to speak, this judgment will be drilled
by reviewing existing supplier strategies as contained in lease accounting. There have distinctive
issues perceived where the standard fail to use specific assets for fulfilling the supply duties and
furthermore Group necessity. This standard approves stringent quality standard especially on
sourced stock and furthermore has no impact over usage of focal points. Thusly, purchases are
assessed by each individual demand and furthermore have no impact over physical get to if there
ought to emerge an event of supplier assets (Englund and Gerdin 2014).
General Purpose Financial Reports for Users in Financial Decisions with AASB
Framework
Leases
From the yearly report of Goodman group, it contemplates treatment of leases named
back leases whereby contracts indicate in rent commitments (Collier 2015). It helps in
exchanging dangers and rewards in relationship with possessions to resident.

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Intangible Assets
The deterioration techniques utilized by the Management of Goodman group on current
premise are straight-line strategies amid monetary circumstances. Goodman group distributed
reports demonstrates valuable existence of PPE (Property, Plant and Equipment) intangibles is
2.5 years to 10 years (Christensen and Nikolaev 2013).
Contingent Legal Liabilities
Goodman group yearly report indicates lawful question and additionally examinations
emerging in the typical course of business (Cahan et al. 2016). These issues can't be promptly
guage as the Directors neglects to expect any sort of material budgetary impact. Goodman group
gives keeping money offices to $ 14820 million for the year 2015 and in addition rent
commitments of specific auxiliaries (David Joneslimited.com.au. 2016). These unforeseen
liabilities will be in occasion of auxiliaries for regarding the commitments. Unexpected
Liabilities are the sum that is perceived less combined amortization as per IAS 18 (Braun, Tietz
and Harrison 2013). This is assigned at reasonable incentive by method for benefit or misfortune
at initiation and in addition measured for future examination reason.
Taxation
The entire year assess change was added up to $ 1680 Million (Bonin 2013). Goodman
group powerful duty rate at 27.8% lower than the earlier year in light of non-deductibility of
securing costs for the year 2015. Conceded impose resources and additionally liabilities happens
when an organization is legitimately enforceable ideal for setting current expense resources in
against with current duty liabilities.

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Transfer Pricing
Goodman group has associated with exchange evaluating and gathered with SARS
prerequisites and all exchanges in the wake of proceeding with completed a safe distance
(Bebbington, Unerman and O'Dwyer 2014).
Prudence
Conceptual Framework
Money related Statement readiness considers instabilities and realities seeing occasions
and conditions, for example, collectivity of suspicious receivables and additionally helpful
existence of settled attests like Plant and Equipment (David Joneslimited.com.au. 2016). These
are a portion of the instabilities that are perceived by methods for getting corporate divulgences
in the wake of practicing judiciousness instance of theoretical structure. Along these lines,
Prudence implies the idea that is comprehensive of level of alert in route for practicing over
judgment on the vulnerability levels.
Updating Process Conceptual Framework
Cash related Statement arranging considers vulnerabilities and furthermore facts seeing
events and conditions, for instance, all in all of suspicious receivables and moreover significant
presence of settled authenticate like Plant and Equipment (David Joneslimited.com.au. 2016).
These are a segment of the dangers that are seen by techniques for getting corporate exposures
consequent to rehearsing sensibility example of connected framework. In this way, Prudence
suggests the possibility that is exhaustive of level of caution in way to practice over judgment on
the flimsiness levels.

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Advantages and Disadvantages of Financial Reporting
One of the advantages of cash related reporting escapes to prudence thought showed in
the hypothetical framework those helpers in bringing consistency of information and furthermore
absence of inclination of exercises. Development to that, after prohibitive attributes and
moreover deliberative misquoted figures; it is presented in the hypothetical structure (David
Joneslimited.com.au. 2016).
Conclusion
Toward the finish of the investigation, it is inferred that speculators examinations
different things as exhibited in the money related reports of Goodman group. At the end of the
day, Goodman group Disclosure strategies agree as per Corporation Act for the year 2001
according to ASX Listing rules. It is critical to see the nonstop exposure approach for advancing
the level of certainty of potential financial specialists with respect to trustworthiness and
securities. The above examination shows that stock of Goodman group expands as a result of
increment number of set up stores. Henceforth, potential speculators can without much of a
stretch break down the effectiveness of the organization for changing over the stock into deals
amid money related basic leadership process. Speculators need to stay mindful of ventures of
organization particularly if there should be an occurrence of PPE intangibles causing trade surge
that assist producing benefits in the up and coming monetary years. Consequently, the exercises
specified will help in boosting the notions of potential speculators in positive way.
Gateway lifestyle group Limited trusts in conveying an incentive to potential investors
and in addition center upon combination techniques considering as significant need. This implies
the organized procedure that guarantees conveyance of transformational thoughts according to

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the venture focuses with customary updates on advance. It worries with rendering vigorous
advantages following for future examination reason. This retail organization takes challenges in
a few regions for keeping abnormal state of responsibility saw among the staff individuals. Asset
report demonstrates 2015 acquisitions by keeping mind the changed capital structure of business.
It contemplates more dynamic administration from the point of view of administration and also
liquidity and hazard properties. This organization should be thinking about capital designation
standards and also take inner pledge measures.