Assignment Detail:- HA2032 Corporate and Financial Accounting - Holmes Institute
Assessment - Corporate reporting and disclosure requirements in Business Combination
Purpose: This assignment aims to develop students' understanding of corporate reporting, disclosure, reporting entity concept and the implication of being classified as a reporting entity- This assignment also develops an understanding of students on accounting and disclosures for business combinations
The HA2032 Unit Learning outcomes addressed in this assessment are:- Demonstrate an understanding of the role of the Corporations Act, sources of authority, and accounting standards in the governance of companies and requirements for financial reporting;- Critically analyse and interpret the financial statements and other disclosures produced by Australian companies and corporate groups;
Part AAccounting Standard Setting, Regulation and Disclosure
ACCOUNTING STANDARD SETTING
-i- Do your own research and critically explain the function of Australian Securities and Investment Commissions and Australian Accounting Standards Board- Why is the IFRS set by the International Accounting Standards Board -IASB- not compulsory for the member countries of IASB????
REPORTING ENTITY
-ii- Do your own research and critically examine the concepts of small proprietary company, large proprietary company and reporting entity- What are the implications of being classified as either one of these three types of companies in terms of compliance and reporting requirements????
Part B
Business Combination / Acquisition analysis
Collect the latest annual reports of two ASX listed companies -for the year 2021-- Each of the two companies must have reported Business Combination as per AASB 3 -Many of the ASX 300 Companies report business combinations-- Carefully read the note disclosure relating to the Business Combination AASB 3- Answer the following:
-i- How many business combinations did the company report????-ii- What was the fair value of consideration paid????-iii- What are the components of acquisition costs, e-g- cash consideration and noncash consideration????-iv- What was the fair value of net identifiable assets acquired????-v- Recognised value of each class of assets, liabilities and contingent liabilities-vi- Carrying value of each class of assets, liabilities and contingent liabilities-vii- How much goodwill or gain on bargain purchase has been recorded????-viii- Factors that contributed to the recognition of goodwill or gain on bargain purchase -if disclosed--ix- What was the amount of goodwill as percentage of total consideration paid????-x- What was the amount identifiable intangible assets as a percentage of total consideration paid????-xi- Write a comparative analysis on the two companies' disclosure on business combination-
Part C:
Write a reflective journal of what you have learned from studying this unit from week 1 to week 9-
The assignment Structure should be as the following:
Abstract - One paragraph List of Content IntroductionBody of the assignment with a detailed answer on each of the required tasks Summary/ConclusionList of references
Attachment:- Corporate and Financial Accounting-rar
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