This report critically analyzes the application of General Purpose Financial Reporting (GPFR) to AGL Energy Limited, an Australian public corporation involved in electricity and gas generation and retailing. The analysis evaluates various factors on different measurement bases, relying on the conceptual framework and compliance with the Corporations Act 2001 and AASB 1039. It examines the intended audience and objectives of the conceptual framework, emphasizing its role in enhancing financial standards. The report also assesses AGL Energy Limited's financial statements, including assets, liabilities, equity, revenue, receivables, plant, property, and equipment (PPE), and depreciation, in relation to the conceptual framework. The study concludes that AGL Energy Limited adheres to the stipulations of the Corporation Act-2001 and ASX listing rules and recommends the presentation of continuous disclosures to aid investors in understanding the corporation's financial performance.