Accounting Theory and Current Issues Assessment
Many corporate organizations globally have implemented International Financial Reporting Standards to provide the basis on which investors can make accurate comparisons between corporations in the global capital markets. However, the standards have not lived to the expectations, but are instead responsible for significant financial problems. Some of these problems were highlighted in the article ‘Unwieldy rules useless for investors.’ International accounting standards directs companies to perform periodic asset impairment testing. During the 2017 financial year, Westpac Banking Corporation, one of the major participants in the Australian Financial sector, used specific assumptions and estimates to conduct these tests. With 2018 coming to an end, organizations are getting ready for the implementation of the new accounting standards for leasing and replacing the existing ones which the chairperson of the IASB, Hans Hoogervorst, referred to as being economically unrealistic. This report outlines the accounting theory used by Westpac Banking Corporation as well as current issues in the corporate environment regarding financial reporting, Corporate Responsibility and accounting practices.
Sample Solutions
Lorem ipsum dolor sit amet, consectetuer adipiscing elit. Phasellus hendrerit. Pellentesque aliquet nibh nec urna. In nisi neque, aliquet vel, dapibus id, mattis vel, nisi. Sed pretium, ligula sollicitudin laoreet viverra, tortor libero sodales leo, eget blandit nunc tortor eu nibh. Nullam mollis. Ut justo. Suspendisse potenti.
Get sample solution
Sed egestas, ante et vulputate volutpat, eros pede semper est, vitae luctus metus libero eu augue. Morbi purus libero, faucibus adipiscing, commodo quis, gravida id, est. Sed lectus. Praesent elementum hendrerit tortor. Sed semper lorem at felis. Vestibulum volutpat, lacus a ultrices sagittis, mi neque euismod dui, eu pulvinar nunc sapien ornare nisl. Phasellus pede arcu, dapibus eu, fermentum et, dapibus sed, urna.
Morbi interdum mollis sapien. Sed ac risus. Phasellus lacinia, magna a ullamcorper laoreet, lectus arcu pulvinar risus, vitae facilisis libero dolor a purus. Sed vel lacus. Mauris nibh felis, adipiscing varius, adipiscing in, lacinia vel, tellus. Suspendisse ac urna. Etiam pellentesque mauris ut lectus. Nunc tellus ante, mattis eget, gravida vitae, ultricies ac, leo. Integer leo pede, ornare a, lacinia eu, vulputate vel, nisl.
Suspendisse mauris. Fusce accumsan mollis eros. Pellentesque a diam sit amet mi ullamcorper vehicula. Integer adipiscing risus a sem. Nullam quis massa sit amet nibh viverra malesuada. Nunc sem lacus, accumsan quis, faucibus non, congue vel, arcu. Ut scelerisque hendrerit tellus. Integer sagittis. Vivamus a mauris eget arcu gravida tristique. Nunc iaculis mi in ante. Vivamus imperdiet nibh feugiat est.
Ut convallis, sem sit amet interdum consectetuer, odio augue aliquam leo, nec dapibus tortor nibh sed augue. Integer eu magna sit amet metus fermentum posuere. Morbi sit amet nulla sed dolor elementum imperdiet. Quisque fermentum. Cum sociis natoque penatibus et magnis xdis parturient montes, nascetur ridiculus mus. Pellentesque adipiscing eros ut libero. Ut condimentum mi vel tellus. Suspendisse laoreet. Fusce ut est sed dolor gravida convallis. Morbi vitae ante. Vivamus ultrices luctus nunc. Suspendisse et dolor. Etiam dignissim. Proin malesuada adipiscing lacus. Donec metus. Curabitur gravida