12 Jul POLITICAL INFLUENCES OR OTHER POTENTIAL DEVELOPMENTS (SUCH AS IDENTIFICATION OF ANY REPORTING FAILURES) THAT COULD IMPACT OR MAY BE OF INTEREST TO STAFF (SUCH AS ENRON OR PARMALAT FAILURE).
hi.i want you to make my financial accounting assignment.there are 2 questions in this assignment.first question is based on newsletter you have to make that and second is to find the errors of the financial position to ensure that it complies with the requirement of AASB 101.Read all the guidelines in the attachment file to complete this question.ALL the work has to be plagirism free and also referencing is APA style.Do not copy and paste from internet.you have to write in your own words. Document Preview: Question 1 [35 marks] The regulatory environment for financial reporting You are a member of a large accounting firm which is responsible for preparing financial reports, including statements and notes to the accounts; and for advising staff in client firms who are responsible for preparing financial reports. The firm only deals with large Australian companies listed on the Australian Stock Exchange. One of your key tasks is to monitor the changes and developments in the financial reporting environmentand summarise them in a regularly published newsletter. Required: Prepare a2pagenewsletterthat identifies and summarises developments and changes in the financial reporting environmentfor the period1January 2015 to 31 March 2015, inclusive. Detailed guidelines for completing this question: 1. Monitoring of changes and developments This will involve regular monitoring of a number of sources over the required period. The sources should be varied in range, as you will need to identify and consider developments/changes relating to: Technical issues such as issue of new accounting standards, exposure drafts or other pronouncements or interpretations. Regulation and monitoring of financial reporting. Political influences or other potential developments (such as identification of any reporting failures) that could impact or may be of interest to staff (such as Enron or Parmalat failure). ‘Political’ does not only mean action from politicians it would also include lobbying/actions by other groups to promote their own interests for example there may be articles about companies, or particular interest groups such as Group of 100, saying that if certain accounting standards are introduced this will disadvantage or have a negative impact. You will need to consider both local (Australian) and international sources and developments. A section on ‘international’ items/developments must be included in the newsletter. 2. Potential sources… Attachments: Newsletter-As….docx
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