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This is corporate and financial accounting. You have to select the ASX company and do the whole assignment. can you please select the ASX company by your own and do it please. rest i will upload the...

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This is corporate and financial accounting. You have to select the ASX company and do the whole assignment. can you please select the ASX company by your own and do it please. rest i will upload the files.And you have to answe part A and part b Required questions in the way that is described in the file.
Answered Same Day May 16, 2020 HA2032

Solution

Pulkit answered on May 22 2020
139 Votes
PART – A
The company which is selected for the purpose of analysis and which is listed on stock exchange is “ABUNDANT PRODUCE LIMITED” for the year ended 30 June 2017.
1 a) The information which fulfill the requirement of relevance is the EPS of the company which provide information related to the earning the shareholder will earn from the investment. This information helps in comparison of past year performance of the company by comparing EPS of the company of Past Years. The growth perspective of the company can also be checked with the help of EPS of company by looking at the trend in significant changes in the EPS of the company.
Comparability- This means information should be presented in comparative form so that
oad comparison can be done. This helps in analyzing the changes in the information. In this company by looking at the figures of Non-cu
ent assets – Property , plant and equipment compared with past year the increase in investment can be seen which helps in analyzing that there is growth perspective of the company. It also helps in analyzing the amount of Investment Company has made in fixed asset during the year.
. In case of listed company there is legal requirement to disclose obligation the company has to be fulfilled in relation to environment. The company should disclose the measures it has taken to reduce its impact on environment. In the present company has disclosed that the company is not under legal obligation either under state legislation or under Commonwealth and they had also disclosed the board is not aware of
each of regulation. There is also a disclosure in the corporate governance statement whether the company is exposed to social, environmental and social responsibility risk and how the company is managing those risk while in present case the company has no exposure to social, environmental and social responsibility risk till date and if in future if the company is exposed of it will disclose it.
2. The information and disclosure that the company has provided are adequate with respect to above mentioned points i.e., in respect of EPS the company has mentioned both basic and diluted EPS and comparative information with respect to past years has been provide so that change can be analysis and whether there is favorable or unfavorable change is there it can be analyzed and it helps in analyzing the future prospects of the company. The company with respect to investment in fixed asset has provide adequate notes and comparative information of past years so that change can be analyzed and how much increase in investment has been done during the year can be checked . The comparative information helps in getting the analysis utilization of funds during the year. The information provided with respect to fixed asset is adequate.
The company has also disclosed the information with respect to fulfillment of environmental obligation whether there is any environmental risk and how the company is managing those risks. In present it has disclosed till date there is no risk exposure and there no legal obligation that the company has to fulfill and has adequately disclosed this in annual report. So according to analysis the company has adequately disclosed the information and notes for the purpose of comparison purpose.
3. The recommendation to top management for the purpose to strengthen its compliance with disclosure requirement by reducing the immaterial disclosures that have been accumulated over the past years which is no relevant and which is leading to improper conclusion. The company should not focus on detailed disclosure rather than company should focus on presenting the minimum information which conveys result of the entity in a better way. The lengthy information should be given less importance and specific disclosure should be given which helps in conveying the...
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