The AGL COMPANY:

The AGL COMPANY:
USE YOUR INDEX WISELY
Go to Balance Sheet, Income Statements, NOTE 1 (methods adopted by company) and other notes from the financial reports, Remuneration Report, Auditors Report
REMUNERATION REPORT – SCREEN SHOT OR TAKE ELEMENTS FROM ACTUAL REPORT IN RELATION TO EXECUTIVE REMUNERATION. LINKED TO PROFIT? SHARE PRICE? OR OTHER – consider how this drives culture with organisations including a desire to obtain profit to receive bonus payments.
ISSUES WITH REMUNERATION can be SELF INTEREST -SHORT TERM DECISION MAKING, TELEOPATHY (unhealthy pursuit of goals), manipulation of accounts, not adhering to the conceptual framework, aasb issues like in leases.
In your discussion using examples from annual reports (of many companies) will assist however focus should be on your company(ies)
GPFR – general purpose financial reports ‘ for users to make financial decisions perhaps to affect profit rather than in accordance with AASB or conceptual framework.
INVENTORY – OVERSTATE- aasb VALUED AT COST OR LOWER OF COST OR MARKET.
ACCOUNTS RECEIVABLE ” OVERSTATE ” ESTIMATION OF PROVISION FOR BAD AND DOUBTFUL DEBTS
UNDERSTATE YOUR PROVISION
PPE  “OVERVALUE” EXCESS VALUATION (PRUDENCE) “DEPRECIATION” CHOOSE METHODS perhaps to affect profit rather than in accordance with AASB or conceptual framework
LIABILITIES “LEASES” INTANGIBLE ASSETS “NOTES” LOOK FOR EVIDENCE OF ANY LEASING
Contingent legal liabilities – where companies have had to pay out legal obligations due to issues
LEASES HAVE BEEN LEFT OFF BALANCE SHEETS ” LIMIT RATIO” ATTRACT INVESTORS
Overstated Revenues, sales returns
Understated expenses
TAXATION
TRANSFER PRICING – FACEBOOK -TAXATION
Eg.TRANSFER PRICING – FACEBOOK -3-5 BN additional tax payments

DISCUSS PRUDENCE – WHAT IS PROPOSED FOR UPDATING THE CONCEPTUAL FRAMEWORK
HOW YOU THINK THIS WILL AFFECT THE REPORTING? BENEFITS AND CRITICISMS (cpa eg)
The inclusion of prudence, then removal and now addition again by accounting.
Or are the issue much more complex than that? Do accountants adhere to the CF? Perhaps addressing remuneration and other issues would achieve better outcomes? Etc

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