ACCT20071 Foundations In Accounting

The assignment is based on the application of accounting standards (IFRS/AASB) in relation to the topics. This assignment requires students to demonstrate an understanding and application of accounting standards in real life annual reports of the companies.


Use the latest annual report of one of the four companies below to answer the question :

  1. Describe the company and the industry in which selected company operates.
  2. Based on literature review, discuss the issues regarding the valuation of Noncurrent assets under IFRS and critically comment on the changes in valuation, depreciation and impairment of Property, plant and equipment (PPE) and Intangibles in the selected company using trend analysis.

List of companies: Qantas Airways Limited, Ansell Limited, AGL Energy Limited, and Crown Resorts Limited.

You need to conduct the extended personal research and self-directed learning in order to complete this assignment. Read relevant ‘notes to financial statements’ in the annual report, financial statement section. Ask yourself questions such as; what standards have we discussed in first four weeks which could relate to Non-current assets? What method of depreciation/impairment this company has used? Has any change of accounting policies in relation to these assets been reported?


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