International Accounting Report: Comparing Financial Reports, Analysis

This report provides a comparative analysis of financial reporting systems in Australia and Japan, focusing on Yamaha Motor Company Ltd. and GUD Holdings Limited. The assignment examines the reporting systems, corporate governance structures, and cultural aspects of these companies. It highlights the adherence to IFRS and respective country-specific accounting principles, as well as the distinct corporate governance models and cultures that influence business operations. The analysis underscores the importance of understanding international accounting standards and their practical application in diverse business environments, offering insights into the complexities of financial reporting across different countries and industries. The report concludes by summarizing the key differences and similarities observed in the financial reporting practices of the two companies.

Running Head: INTERNATIONAL ACCOUNTING
INTERNATIONAL ACCOUNTING
Name of the Student
Name of the University
Author Note

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Table of Contents
Introduction................................................................................................................................2
Discussion..................................................................................................................................2
Yamaha Motor Company Ltd................................................................................................2
GUD Holdings Limited..........................................................................................................3
Conclusion..................................................................................................................................3
Reference....................................................................................................................................4

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Introduction
The aim of this assignment is to do the analysis of the comparison and analysis of the
differences that exist between the financial reporting systems in the two countries that is
Australia and Japan. This assignment will include analysis of the reporting systems, corporate
governance structures and the culture of two country’s companies from the same industry.
Discussion
Yamaha Motor Company Ltd.
It is the Japanese manufacturer of the motorcycles, motorized products and the marine
products such as outboard motors and boats that is headquartered in Iwata, Japan. Yamaha
Corporation as well as its domestic subsidiaries maintains the accounting records and
prepares the financial statements according with the accounting principles that are generally
accepted and the overseas subsidiaries of the company maintains their own books of accounts
for conformity with those of the domicile of the respective counties. The corporation‘s
consolidated financial statements are being prepared according to the accounting principles
generally accepted in Japan that are different in some respect as for the requirements of
application as well as disclosures of IFRS and they are compiled from the prepared
consolidated financial statements by the company that are required by Financial instrument
and Exchange law of Japan (Yamaha.com. 2019).
Corporate governance structures of Yamaha optical for separating clearly the function
of management oversight as well as business execution. The structure of corporate
governance also ensures effectiveness of high level of Board of Directors as well as realizes
the execution of the business appropriately as well as with the urgency sense.

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The company fosters the corporate culture, which embraces diversity as well as
encourages true enjoyment and understanding of unique cultures and customs of every region
and country (de Villiers and Alexander 2014).
GUD Holdings Limited
It is the company that is comprised with the number of the dynamic product
companies that is based in the Australia and New Zealand. The company manufactures,
distributes, imports as well as sale the automotive. The consolidated financial statements of
the company are general purpose financial statements that are prepared according to the
Australian Accounting Standard Board as well as the Corporation Act. These financial
statements complies with the IFRS that is adopted by IASB (Gud.com.au. 2019).
The corporate governance structures of the company is remains in line with the
industry practice and good governance in respect of its working environment, people and
culture, safety, sustainability, community, risk, foreign exchange risk and outlook.
The company strives for the culture of professionalism, high performances,
innovation, integrity and excellence. Globally, GUD is in top quartile for many measures for
the employee engagement (Nobes, 2014).
Conclusion
Hence, it is concluded from the analysis that the both of the company follows the
reporting system according to IFRS and respective country’s generally accounting principles.
Moreover, both the companies has their respective structures of corporate governance and
culture on the basis of which the business and its people are regulated, operated and
controlled.

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Reference
de Villiers, C. and Alexander, D., 2014. The institutionalisation of corporate social
responsibility reporting. The British Accounting Review, 46(2), pp.198-212.
Gud.com.au. (2019). [online] Available at: https://gud.com.au/uploads/images/gallery/8/GUD
%202018%20Annual%20Report%20website-1537236028.pdf [Accessed 5 Jul. 2019].
Nobes, C., 2014. International classification of financial reporting. Routledge.
Yamaha.com. (2019). [online] Available at:
https://www.yamaha.com/en/ir/publications/pdf/an-2018e.pdf [Accessed 5 Jul. 2019].