SBM3304 Accounting Theory


You are required to answer the following 4 Case Study Questipons

Case 1

The Australian Accounting Standards Board (AASB) is an independent accounting standard-setter based in Melbourne, Australia which issues Accounting Standards on the elements of financial statements. Australian entities mandatorily follow these standards and describe the accounting policies they use as a note to the financial statements.

Briefly investigate and summarize the accounting policies of an ASX listed large cap (based on market capitalization) company on each of its element of financial statements.

Case 2:

Do you think that social and environmental information should be voluntarily reported in accounting disclosure? Why do you think so?

Briefly discuss the different accounting theories which support your arguments.

Case 3:

The corporate governance framework, policies and practices of each entity reflect the standard of its corporate governance. You are required to investigate and report on the roles and responsibilities of a corporate board of ASX listed large cap company.

More specifically, you need to report on its corporate governance structure and the roles and responsibilities of different board committees. For example, you can visit the corporate governance of AGL Ltd at the following link and can report on it. (Links to an external site.)

Case 4:

As Australia’s largest greenhouse gas emitter, AGL has a responsibility to be transparent about the risks and opportunities that climate change poses to its business, the community and the economy more broadly.

For this reason, AGL follows the guidance provided by the Financial Stability Board’s Task Force on Climate-Related Financial Disclosure’s voluntary disclosure framework (TCFD Framework) in both its financial report and in its associated Carbon Scenario Analysis report.

You Are Required To:

1. Briefly state the TCFD framework of AGL which can be accessed at: (Links to an external site.)

2. Critically evaluate the environmental report of AGL in its financial report 2019 which can be accessed at: (Links to an external site.)

3. Australian ASX listed company creates value for shareholders and other stakeholders through the utilisation of various forms of capital such as financial, manufactured, intellectual, human, social and relationship and natural. State each of the capital as reported by AGL which can be accessed at: (Links to an external site.)


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