You need to conduct the extended personal research and self-directed learning in order to complete this assignment
Assignment Question: Write a research report answering the questions below.
Based on the literature review, identify the major issues with practical application of IFRS. Analyse the application of accounting standards/IFRS in reporting non-current assets (such as leased, owned, tangible, intangibles, etc.) and depreciation/amortisation/impairment for Woolworths group, and report the trends in their values for the years 2014-2018.
You need to conduct the extended personal research and self-directed learning in order to complete this assignment.
Hint
Accounting & FinanceIFRS or International Financial Reporting Standards set the common rules for the consistency of financial statements, transparent and comparable around the world. Those are issued by the International Accounting Standards Board (IASB) and specify how companies must maintain and report their accounts, defining types of transactions and other events with financial impact. IFR...
IFRS or International Financial Reporting Standards set the common rules for the consistency of financial statements, transparent and comparable around the world. Those are issued by the International Accounting Standards Board (IASB) and specify how companies must maintain and report their accounts, defining types of transactions and other events with financial impact. IFRS initially were established to create a common accounting language, so that businesses and their financial statements can be consistent and reliable from company to company and country to country. They are designed to bring consistency to accounting language, practices and statements, and to help businesses and investors make educated financial analyses and decisions. Companies benefit from the IFRS because if the company's business practices are transparent, investors are more likely to put money into a company .
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