Using an Internet web browser, search for AICPA’s Statement on Standards for Attestation Engagements (SSAE) No. 18, and perform the following: a. Explain the relevance of SSAE 18 and what….
Describe the accounting policies relating to Property, Plant, and Equipment adopted by your company.
1.Choose the latest annual report for any one of the following companies Your group shall be allocated latest annual report of one of the following companies listed on the Australian Stock Exchange. Your group is required to answer following assignment questions for the company selected in a report format and also compare the findings of your company ( wherever necessary) with another competing company from the same industry selected by your assignment group ( Preferably from ASX 200 companies available at http://www.asx200list.com/ )
- APA Group Stapled (Utilities)
- Amcor Limited (Materials)
- Blackmores Limited (Consumer Staples)
- Cochlear Limited (Healthcare)
- Crown Resorts Limited (Consumer Discretionary)
- CSL Limited (Healthcare)
- Fortescue Metals Group LTD (Materials)
- Harvey Norman Holdings Limited (Consumer Discretionary)
- All annual reports are available on the website of these companies.
- Choosing a company other than those mentioned above is not permitted.
- All accounting standards are available on online database or these standards can also be accessed on AASB web site (www.aasb.gov.au).
- Draft a report incorporating the following points in relation to your selected company (not exceeding 3,500 words).
Company- Introduction, Business & operating activities, Finances and Financial performance
- Describe the core business of the company. Provide full details of its different activities and or business segments.
- Discuss the industry that the chosen company operates in. For example, is it a growing or declining industry; which are the main competitors of the company and what are they doing, etc. Ensure you discuss the implications of these factors.
- How the company is funded vis-à-vis internal or external sources? Critically analyse the financial structure of the company?
- Describe key elements of Financial Performance reported by the company in the annual report.
- Has this company reported any event that occurred after the reporting date? Describe the event.
- Were there any changes in accounting policies disclosed in the annual report? If yes, describe those changes.
Assets – PPE and Intangibles
- What is the carrying amount of each class of Property, Plant, and Equipment, at reporting date, of your company?
- Describe the accounting policies relating to Property, Plant, and Equipment adopted by your company.
- Identify the intangible assets reported by the company. Discuss their composition and relevance to the company’s business.
- Describe the accounting policies relating to Intangible Assets adopted by your company.
- Are any items of Property, Plant, and Equipment, and/or Intangible Assets of your company impaired? If so, identify which assets are impaired, and the amount of accumulated impairment losses.
Research component (suggested 1,500 words of total limit of 3,500 words)
- If your selected company publishes any corporate social responsibility report or sustainability report, then discuss some of their key initiatives regarding their social responsibility and sustainability
- Conduct search for any media stories, blogs or other commentary about your selected company’s initiatives. For example, do they place profit before people? Do they have any credible projects? Use your analytical skills to critically analyse these issues in relations to initiatives of selected company
- Why do you think corporate social responsibility and sustainability have become so important in the modern corporate world? Use any sources (books, journal articles, Parliament debates, Royal Commissions, media, blogs, etc.) and critically argue the case.
- How has Covid19 impacted operations of chosen company, its revenue and staffing. This information may not be available in annual report, but online search will show if there was drop in sales, if there was job losses and so on.
Note: It is important to refer to relevant accounting standards in your report to score high marks in this group assignment.