In your case study, you should address the following questions: (3000 words maximum )
1)How should an entity measure share investments in other entities? (6 marks)
2)What are the measurement methods commonly used by an entity? Compare and evaluate the usefulness of these methods for general purpose financial statement users. (8 marks)
3)Provide two examples of measurement practices (one example for an asset and one example for a liability) adopted by the chosen company. Explain. (8 marks)
4)From the perspective of investors, explain the impact of such measurement practices (in item 3) on financial position and financial performance of the chosen company. (8 marks)
5)In your opinion, from the perspective of the executive management and CFO of the entity, provide recommendations regarding the appropriate measurement methods that should be adopted by the entity in the current financial environment. (6 marks)
Demonstration of effective communication and logic presentation throughout from question 1- 5 based on the WOW company annual report (4 marks)
Total Marks 40
(3000 words maximum ) for this whole work..
https://www.woolworthsgroup.com.au/icms_docs/19558… (2019 annual report) or simple google search
https://www.woolworthsgroup.com.au/content/Documen…(2018 annual report) or simple google search
HARVARD referencing …..
USE THE REFERENCES PROVIDED in answering these questions
References: to base this case study
•You can find the paragraphs of Australian Conceptual Framework for Financial Reporting and a list of AASBs that are useful to support your discussion, which are available from the AASB website: http://www.aasb.gov.au/Pronouncements/Conceptual-f… http://www.aasb.gov.au/Pronouncements/Current-standards.aspx.
In particular, you may refer to the following or other AASBs in your case study.
oAASB Conceptual Framework for Financial Reporting
oAASB 9 Financial Instruments
oAASB 101 Presentation of Financial Statements
•You also can refer to journal articles, for example:
- Fair Value Accounting and the Banking Crisis in 2008: Shooting the Messenger, André, P, Cazavan-Jeny, A, Dick, W, Richard, C & Walton,
- P, 2009, Journal of Accounting in Europe, Vol.6, Pages 3-24, source: https://www.tandfonline.com/doi/abs/10.1080/17449480902896346
- Is It Fair to Blame Fair Value Accounting for the Financial Crisis? Pozen, R C, 2009, Crisis Management, sources: https://hbr.org/2009/11/is-it-fair-to-blame-fair-value-accounting-for-the-financial-crisis
- Gary H, 2018, Halbert Wealth Management, 9/18/18, source: https://www.advisorperspectives.com/commentaries/2018/09/18/did-mark-to-market-rules-cause-the-financial-crisis
Did “Mark-To-Market” Rules Cause The Financial Crisis?