Or are the issue much more complex than that? Do accountants adhere to the CF? Perhaps addressing remuneration and other issues would achieve better outcomes?

Choose any company and make a report on financial report of company: David Jones
Introduction (about 100 words)
Conceptual framework (200 words)
Critical analysis (200 words)
Ethics (not more than 150 words)
Corporate governance (not more than 150 words)
Legitimacy (not more than 150 words)
Transfer pricing (not more than 150 words) look at example of transfer pricing
Fair value disclosure (not more than 150 words)
Fair value accounting continues to be a topic of significant interest and debate among the preparers and users of financial information. The fair value standards, Accounting Standards Codification 820,Fair Value Measurement (ASC 820) and IFRS 13, Fair Value Measurement (IFRS 13), are principles-based standards that, with few exceptions, impact all fair value measurements in a reporting entity’s financial statements. Our popular global guide, Fair value measurements — 2015 global edition, helps reporting entities meet the challenges of applying the key accounting standards under both U.S. GAAP and IFRS related to fair value measurements.
In this guide, we describe the key concepts and requirements of these standards and include specific discussion of the impact of the fair value measurement requirements in significant accounting areas such as:
• investments
• impairments
• business combinations
• credit risk
Write remaining 1000 words using the following materials:
(look at the sample: Annual Report Study of Myer Holdings Limited by Sumit Poudel)
Please Take screenshot and put it at the end in Appendix
– audit report
– directors declaration
-director report
– notes to account
– remuneration report
SUGGESTIONS REGARDING ASSIGNMENT
USE YOUR INDEX WISELY……
Go to Balance Sheet, Income Statements, NOTE 1 (methods adopted by company) and other notes from the financial reports, Remuneration Report, Auditors Report
REMUNERATION REPORT – SCREEN SHOT OR TAKE ELEMENTS FROM ACTUAL REPORT IN RELATION TO EXECUTIVE REMUNERATION. LINKED TO PROFIT? SHARE PRICE? OR OTHER – consider how this drives culture with organisations including a desire to obtain profit to receive bonus payments.
ISSUES WITH REMUNERATION can be SELF INTEREST – SHORT TERM DECISION MAKING, TELEOPATHY (unhealthy pursuit of goals), manipulation of accounts, not adhering to the conceptual framework, aasb issues like in leases
In your discussion using examples from annual reports (of many companies) will assist however focus should be on your company(ies)
GPFR – general purpose financial reports – for users to make financial decisions
perhaps to affect profit rather than in accordance with AASB or conceptual framework
INVENTORY – OVERSTATE- aasb VALUED AT COST OR LOWER OF COST OR MARKET.
ACCOUNTS RECEIVABLE – OVERSTATE – ESTIMATION OF PROVISION FOR BAD AND DOUBTFUL DEBTS – UNDERSTATE YOUR PROVISION
PPE – OVERVALUE – EXCESS VALUATION (PRUDENCE) – DEPRECIATION – CHOOSE METHODS perhaps to affect profit rather than in accordance with AASB or conceptual framework
LIABILITIES – LEASES – INTANGIBLE ASSETS – NOTES – LOOK FOR EVIDENCE OF ANY LEASING
Contingent legal liabilities – where companies have had to pay out legal obligations due to issues
LEASES HAVE BEEN LEFT OFF BALANCE SHEETS – LIMIT RATIO – ATTRACT INVESTORS
Overstated Revenues, sales returns
Understated expenses
TAXATION
TRANSFER PRICING – FACEBOOK -TAXATION
Eg.TRANSFER PRICING – FACEBOOK -3-5 BN additional tax payments
DISCUSS PRUDENCE – WHAT IS PROPOSED FOR UPDATING THE CONCEPTUAL FRAMEWORK
HOW YOU THINK THIS WILL AFFECT THE REPORTING? BENEFITS AND CRITICISMS (cpa eg)
The inclusion of prudence, then removal and now addition again by accounting.
Or are the issue much more complex than that? Do accountants adhere to the CF? Perhaps addressing remuneration and other issues would achieve better outcomes? Etc etc etc