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Business research report

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Answered Same Day Apr 27, 2020 ACCG224 Macquaire University

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Aarti J answered on Apr 30 2020
148 Votes
ASICs Financial Reporting Surveillance Program
Course Name
Course Date
Student’s Name
ACCG224 S1 2018    Your SID    8
Table of Contents
Contents
Executive Summary    3
Introduction    4
ASICs Financial Reporting Surveillance Program    4
Impairment of the assets by BHP    5
Analysis of the disclosure    6
Conclusion and Recommendation    7
References    8
Executive Summary
ASIC's financial reporting surveillance program emphasizes on improving the quality of the financial reporting of the organizations. This committee aims in reviewing the annual and the interim financial reports of the companies which are listed as well as the other companies.
In this report we will be an analysing the reporting of the impairment of assets of an ASX public listed company in the field of Materials and Energy. For the analysis, we have taken BHP Billiton for the year 20th June’ 2017.
From the analysis, we could see that the company report its assets adequately and tests for impairment. All the impairment losses and gains are reported by the company. After the analysis, we can say that the company adheres to AASB 136.
ASICs Financial Reporting Surveillance Program
Introduction
ASIC's financial reporting surveillance program emphasizes on improving the quality of the financial reporting of the organizations. This committee aims in reviewing the annual and the interim financial reports of the companies which are listed as well as the other companies.
In this report we will be an analysing the reporting of the impairment of assets of an ASX public listed company in the field of Materials and Energy. For the analysis, we have taken BHP Billiton for the year 20th June’ 2017.
The company will be checked for the disclosure of impairment as per the AASB 136.
ASICs Financial Reporting Surveillance Program
ASIC's financial reporting surveillance program emphasizes on improving the quality of the financial reporting of the organizations. This committee aims in reviewing the annual and the interim financial reports of the companies which are listed as well as the other companies. They make sure that the companies selected adhere to accounting standards laid by the Corporation Act and the Australian Accounting standards. Before the reporting of the financial statements, the committee usually presents a press release about the topic which is the focus on review for the term. It alerts the market before the actual report is issued and published by the company.
The team analyses different aspects of the accounting and the disclosure issues which is to be included in the surveillance which is based on different activities of the companies or is based on the public complaint. The accounts under the scrutiny and other aspects are...
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