1 HA2032 Corporate and Financial Accounting Trimester 2 2018 Individual Assignment Assessment Value: 20% Instructions: 1. This assignment needs to be submitted using safe-assign. No hardcopy or email...

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Student Name –    Student ID –    Lecturer Name-    Word Count – 2000    Reference - Harvard     
EXECUTIVE SUMMARY:
    This project is made on corporate and financial accounting. A report has been prepared on three different topics. At first a brief introduction has been provided on the topics further discussed in the project. Then the discussion has been made on the corporate regulation topic that is should there be regulation for financial accounting and reporting or should be left at the discretion of the managers. Next the discussion has been made accounting standard settings; the topic of discussion is the role of Australian Accounting Standards Board in forming global accounting standards (IFRS) and also the reason of non compliance of IFRS by a few member countries of International Accounting Standards Board (IASB). Then the discussion has been made on owner’s equity, where four airlines companies have been chosen which are listed on Australian Securities exchange (ASX), each equity item from the financial statements of the four companies has been mentioned and discussed along with the analysis of any changes over the past four years. Then the comparative analysis has been made between the chosen four airline companies based on their debt and equity position. At the end, several conclusions have been drawn from the analysis of the whole project.
Contents
EXECUTIVE SUMMARY:    2
1. INTRODUCTION:    4
2. CORPORATE REGULATIONS:    5
3. ACCOUNTING STANDARDS SETTING:    6
4. OWNER’S EQUITY:    7
5. CONCLUSIONS:    11
REFERENCE:    12
1. INTRODUCTION:
    Corporate accounting is actually that branch of accounting which deals with companies like the preparation of the financial statement, cash flow statement, analysis of the financial statements, financial ratios, etc. Corporate Accounting follows certain standards as prescribed (Paton and Littleton, 1970). Cooper and Sherer, 1984, corporate accounting reports should be fairly prepared since it is of great use to the shareholders and they take most of their decisions based on it. It is applicable to the firms individually like one firm will have its own set of financial statement, cash flow statement for a particular financial year. The main purpose of this is to present all the relevant financial information in a comprehend way for everyone to understand. Generally corporate accountings are managed by professional corporate accountants.
    Financial Accounting is the branch of accounting concerned with keeping track of all the financial transactions in a company. It record, summarize and then present the collected financial information in...