Cheap Custom Essay:Identifies the key assets, liabilities, equity classes, incomes and expenses which impact the firm’s reported position and performance 

Cheap Custom Essay:Identifies the key assets, liabilities, equity classes, incomes and expenses which impact the firm’s reported position and performance

All listed companies are required to prepare annual reports and lodge these with the ASX. While this is a legal requirement, managers can use information prepared by accountants on a regular basis to make a range of operational, strategic and management decisions. Additionally investors, employees, creditors and other stakeholders use the information provided in annual reports. Collectively, financial statement users use a range of interpretive techniques to make assessments and draw conclusions about a company. This assignment provides you with an opportunity to review and analyse the financial statements of a firm chosen from an approved list of ASX listed firms which will be made available through Interact.:

 

 

1. Provides a brief overview of the nature of the firm. This introduction should discuss the firm’s products/brands, history, size and the locations of the firm’s operations 

 

2. Discusses how the firm’s balance sheet, income statement and cash flow statement could be used to support the decisions of a range of specific stakeholders of the firm.

 

3. Identifies the key assets, liabilities, equity classes, incomes and expenses which impact the firm’s reported position and performance

 

4. Outlines how the measurement of the firm’s key assets is influenced by underlying accounting conventions and by managerial judgement