Analysis Of Annual Reports: Implementation Of IASB Operative Communication Principles
- December 22, 2023/ Uncategorized
Current Communication Principles
The proposal of IASB regarding the operative communications of the financial statistics related to objects, I have structured it to reply for its submission. I am looking for an investment opportunity in Westpac group and ANZ bank. It is understood that preparation of financial statements concerning the implementation is clumsy and often it is observed by the investors as inconsistent about the performance in context of financial statements (Arnold, 2012). Annual report prepared contains vital information which is charred by incompetent demonstration of the data of finances. It becomes problematic to take important decisions on the basis of that. After reviewing the annual reports submitted by both organizations I have observed the requirement to escalate the quality of communication statements.
I have studied the plan of current communication which is guided by principles which requires being flawless and modest, object definitive, related to relevant information, prepared for emphasizing significant matters, no redundant repetition, presented in suitable format and analogous. After analyzing the annual report of both ANZ bank and Westpac Group for the year financial year 2016, it was established that some of the actual principles of communication can be added, which is absent while few of them comply (Anz.com, 2017)(westpac.com, 2017). Reputed and famous banks would assist the investors with analyzed evidence that would help them in preparing points to make financial decisions. Banks are obligated to create and deliver with the appropriate section wise analysis and their risks of credit allotment and liquidity.
After reviewing the analysis of annual reports and the data and constituents contained therein, I have made not of some of the particulars that both the banks have not made their disclosures. Westpac has conducted an independent analysis segment wise and there is a constant description of every segment whereas ANZ bank has not been seen to practice the same method as Westpac. They have incorporated their analysis details in the finance statements and have not mentioned it individually. Basel reforms include broader set of methods for consolidation of the rules of banking world. It was found out that ANZ bank has not submitted any kind of details about the requirements demanded by the Basel Reforms separately (Zehri & Chouaibi, 2013). There was no evidence of individual disclosure on the risks of credit allotment and liquidity status of the bank. But the notes of the financial statements contained those details. Moreover, Westpac was seen to make proper revelation of material and necessities of Basel Reforms and kinds of risks present in the banking world. About Tier I and Tier II, there was no written proof in the annual report. On the other hand, all the details were diligently mentioned in the Westpac annual report. Westpac has been particular in mentioning the performances of each division as compared to ANZ bank who has not written anything about that part.
Improvement in Communication of Financial Statements
Banks were unable to analyze and read the details of performance streak which was shown in a graphical presentation. This was done for the ease of banks to analyze their performance. On the accord of submitting a descriptive revelation in some of the matters, the use of graphical presentation would have been more relevant. In context of the given facts, there is a dire of enhancement in the communication of the financial reports.
I would like to suggest some guidelines which IASB should incorporate to enhance the efficiency and to work in an entity specific way for comparisons. Entity specific principles which are available in the annual report are structured according to the requirement of the time rather than being general (Ahmed, Neel & Wang, 2013). Other irrelevant information is available outside the ambit of annual reports that is why writing more specific details becomes appropriate. However, placement of information should be done to reduce the effort made for comparisons between entities and reporting periods. This should be done to keep the integrity of information intact. Graphical presentation in the annual report can prove to be handy to comply with the above requirements.
The draft of discovery initiatives delivered by IASB also contains requirements of supervision on formatting. It is interpreted by shareholders and financiers of the organization that communication efficiency of financial matters can be enhanced with the use of appropriate formatting (Zehri & Chouaibi, 2013). It can be observed that the process of comparison between two distinct reporting periods among the organization becomes easy and less time taking and can be practiced for doing the same thing between any two entities. Suggestion given by the board for applying suitable format to show the financial data are supported by many reasons.Several establishments in the financial world such as banks have printed reports that deliver guidance in making annual reports with the help of tables and graphs In addition to that, there is a factor of uncertainty when it comes to using suitable formats for constructing annual reports.The information which is delivered to the stakeholders will improve a lot if appropriate formatting is done. It is because of the reasons mentioned above that I have concluded the analysis of annual reports of two banks and I have found out that there is a requirement to use formatting in a proper way as one of the guidelines that will assist in producing active communication of financial details written in the financial report of institutions.
Appropriate Formatting for Financial Reports
However, the improvement of format should be based on the factors which are specific and relevant to the entity. This will depend on the nature of information to be disclosed, which can be expressed more clearly in the tabular form. Requirement of fundamental guidance is there for using the new formatting styles in the financial details of organization. Quality of information mentioned in the notes of disclosures can be made better by using proper formatting.
The constituents of suitable formatting will contain diverse formats that would be used according to the type of business object and would be specific in all its sense. Both generalized formatting and condition based formatting should be there so that both of them can be used as per the requirement. This type of disclosure will lift the spirits of investors, stakeholders and the creators of the financial statements. Furthermore, development of non-monetary regulation for the use of formatting is also required.
Placing myself in the shoes of an investor, I would suggest that IASB should take account of some of the guidelines of operational communication of financial data. The most relevant principle would be definitive to the entity, as it will support the investors in producing information with much ease while making it easily comparable. It will change the nature of financial information through objects among reporting periods. Besides, the supervision on formatting also needs to be taken further by considering factors which are specific to some organization.
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In the books of Harriette Ltd. |
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|
Journal Entries |
||||
|
Date |
Particulars |
Amount (Dr.) |
Amount (Cr.) |
|
|
|
||||
|
31/03/2017 |
Bank A/c |
$8,200,000 |
||
|
|
Preference Share Application A/c |
$1,600,000 |
||
|
|
Ordinary Share Application A/c |
$6,600,000 |
||
|
(Being application money received for 2,000,000 ordinary shares and 1,000,000 preference shares) |
||||
|
Date |
Particulars |
Amount (Dr.) |
Amount (Cr.) |
|
|
15/4/2017 |
Preference Share Application A/c |
$1,600,000 |
||
|
|
Preference Share Capital A/c |
$1,600,000 |
||
|
(Being application money received for preference Shares application transferred to Preference Share capital) |
||||
|
Date |
Particulars |
Amount (Dr.) |
Amount (Cr.) |
|
|
|
Ordinary Share Application A/c |
$6,600,000 |
||
|
|
Ordinary Share Capital A/c |
$6,000,000 |
||
|
|
Ordinary Share Allotment A/c |
$600,000 |
||
|
(Being application money received for ordinary share capital transferred to ordinary share capital and excess amount adjusted with due allotment) |
||||
|
Date |
Particulars |
Amount (Dr.) |
Amount (Cr.) |
|
|
|
Ordinary Share Allotment A/c |
$3,000,000 |
||
|
|
Ordinary Share Capital A/c |
$3,000,000 |
||
|
(Being allotment money due on allocated shares) |
||||
|
Date |
Particulars |
Amount (Dr.) |
Amount (Cr.) |
|
|
15/5/2017 |
Bank A/c |
$2,400,000 |
||
|
|
Ordinary Share Allotment A/c |
$2,400,000 |
||
|
(Being due allotment money received) |
||||
|
Date |
Particulars |
Amount (Dr.) |
Amount (Cr.) |
|
|
1/8/2017 |
Ordinary Share Call A/c |
$1,000,000 |
||
|
|
Ordinary Share Capital A/c |
$1,000,000 |
||
|
(Being call money due on allocated shares) |
||||
|
Date |
Particulars |
Amount (Dr.) |
Amount (Cr.) |
|
|
1/9/2017 |
Bank A/c |
$975,000 |
||
|
|
Calls-in-Arrear A/c |
$25,000 |
||
|
|
Ordinary Share Call A/c |
$1,000,000 |
||
|
(Being due call money received except for 50,000 shares) |
||||
|
Date |
Particulars |
Amount (Dr.) |
Amount (Cr.) |
|
|
15/9/2017 |
Ordinary Share Capital A/c |
$250,000 |
||
|
|
Calls-in-Arrear A/c |
$25,000 |
||
|
|
Ordinary Share Forfeiture A/c |
$225,000 |
||
|
(Being the 50,000 shares, for which call money is due, forfeited accordingly) |
||||
|
Date |
Particulars |
Amount (Dr.) |
Amount (Cr.) |
|
|
|
Bank A/c |
$210,000 |
||
|
|
Ordinary Share Forfeiture A/c |
$40,000 |
||
|
|
Ordinary Share Capital A/c |
$250,000 |
||
|
(Being the forfeited shares reissued for $4.20 per shares) |
||||
|
Date |
Particulars |
Amount (Dr.) |
Amount (Cr.) |
|
|
|
Cost of Forfeiture & Reissue A/c |
$7,500 |
||
|
|
Bank A/c |
$7,500 |
||
|
(Being cost of forfeiture and reissue of shares paid) |
||||
|
Date |
Particulars |
Amount (Dr.) |
Amount (Cr.) |
|
|
|
Ordinary Share Forfeiture A/c |
$185,000 |
||
|
|
Cost of Forfeiture & Reissue A/c |
$7,500 |
||
|
|
Capital Reserve A/c |
$177,500 |
||
|
(Being the balance of share forfeiture account after adjusting with cost of forfeiture and reissue transferred to capital reserve) |
Workings:
|
Particulars |
Nos. Of Shares |
Value per Share |
Amount |
|
|
|
||||
|
Pf. Share Application Received |
A |
800,000 |
$2 |
$1,600,000 |
|
Ordinary Share Application Received |
B |
2,200,000 |
$3 |
$6,600,000 |
|
Ordinary Share Application Allocated |
C |
2,000,000 |
$3 |
$6,000,000 |
|
Ordinary Share Application Adjusted |
D=B-C |
200,000 |
$3 |
$600,000 |
|
Ordinary Share Allotment Due |
E |
2000,000 |
$1.50 |
$3,000,000 |
|
Ordinary Share Allotment Received |
F=E-D |
1,800,000 |
$2,400,000 |
|
|
Ordinary Share Call Due |
G |
2,000,000 |
$0.50 |
$1,000,000 |
|
Ordinary Share Call Received |
H |
1,950,000 |
$0.50 |
$975,000 |
|
Calls-in-Arrear |
I |
50,000 |
$0.50 |
$25,000 |
|
Share Capital Forfeited |
J |
50,000 |
$5 |
$250,000 |
|
Share Forfeiture |
K=I-J |
50000 |
$225,000 |
|
|
Share Capital received fro Reissue |
L |
50000 |
$4.20 |
$210,000 |
|
Share forfeiture adjusted with reissue |
M=J-L |
50000 |
$40,000 |
|
Worksheet for Current Tax Liability/(Refundable) |
||
|
Particulars |
Amount |
Amount |
|
Accounting profit before tax |
$66,000 |
|
|
Add: |
||
|
Doubtful Debt Expense |
$5,000 |
|
|
Annual Leave |
$23,000 |
|
|
Warranty Expense |
$12,000 |
|
|
Depreciation Expense for accounting purpose |
$60,000 |
|
|
Insurance |
$40,000 |
$140,000 |
|
|
$206,000 |
|
|
Less: |
||
|
Government Grant |
$20,000 |
|
|
Bad debt expense |
$1,000 |
|
|
Annual Leave Paid |
$3,000 |
|
|
Insurance Paid |
$50,000 |
|
|
Warranty Expense Paid |
$2,000 |
|
|
Depreciation Expense for Tax Purpose |
$50,000 |
$126,000 |
|
Taxable income |
$80,000 |
|
|
Tax on taxable income @30% |
$24,000 |
|
|
Less: 30% Tax paid on Sales Revenue |
$205,800 |
|
|
Income Tax Refundable |
|
($181,800) |
Source: (Created by Author)
|
Deferred Tax Worksheet |
||||
|
Particulars
|
Carrying Amount |
Tax Base |
Taxable Temporary differences |
Deductible Temporary differences |
|
Amount |
Amount |
Amount |
Amount |
|
|
Assets |
||||
|
Cash |
$10,000 |
$10,000 |
||
|
Trade Receivables |
$125,000 |
$125,000 |
||
|
Allowance for Doubtful Debts |
($4,000) |
$0 |
$4,000 |
|
|
Inventories |
$60,000 |
$60,000 |
||
|
Prepaid Insurance |
$10,000 |
$10,000 |
||
|
Goodwill |
$20,000 |
$20,000 |
||
|
Equipment |
$300,000 |
$300,000 |
||
|
Accumulated Depreciation |
($60,000) |
($50,000) |
$10,000 |
|
|
Liabilities |
||||
|
Trade Payables |
$35,000 |
$35,000 |
||
|
Provision for Warranties |
$10,000 |
$10,000 |
||
|
Provision for Annual Leave |
$20,000 |
$20,000 |
||
|
Loan Payable |
$90,000 |
$90,000 |
||
|
Total Temporary differences |
|
|
$10,000 |
$44,000 |
|
|
||||
|
Deferred tax liability (30%) |
|
|
$3,000 |
|
|
Deferred tax asset (30%) |
|
|
|
$13,200 |
Journal Entries
|
Date |
Particulars |
Amount (Dr.) |
Amount (Cr.) |
|
30/06/2017 |
Income Tax Expense A/c |
$24,000 |
|
|
|
Income Tax Refundable A/c |
$181,800 |
|
|
|
Advance Tax Paid A/c |
$205,800 |
|
|
(Being Income tax expenses adjusted with advance tax paid and income tax refundable recorded) |
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|
Date |
Particulars |
Amount (Dr.) |
Amount (Cr.) |
|
|
Deferred Tax Assets A/c |
$13,200 |
|
|
|
Deferred Tax Liability A/c |
$3,000 |
|
|
|
Income Tax Expense A/c |
$10,200 |
|
|
(Being deferred tax assets and deferred tax liabilities recorded) |
|||
|
Date |
Particulars |
Amount (Dr.) |
Amount (Cr.) |
|
|
Profit & loss A/c |
$21,000 |
|
|
|
Income Tax Expense A/c |
$21,000 |
|
|
(Being income tax expense transferred to profit and loss account) |
|
Worksheet for Current Tax Liability/(Refundable) |
||
|
Particulars |
Amount |
Amount |
|
|
||
|
Accounting profit before tax |
($44,000) |
|
|
Add: |
||
|
Doubtful Debt Expense |
$5,000 |
|
|
Annual Leave |
$23,000 |
|
|
Warranty Expense |
$12,000 |
|
|
Depreciation Expense for accounting purpose |
$60,000 |
|
|
Insurance |
$40,000 |
$140,000 |
|
|
$96,000 |
|
|
Less: |
||
|
Government Grant |
$20,000 |
|
|
Bad debt expense |
$1,000 |
|
|
Annual Leave Paid |
$3,000 |
|
|
Insurance Paid |
$50,000 |
|
|
Warranty Expense Paid |
$2,000 |
|
|
Depreciation Expense for Tax Purpose |
$50,000 |
$126,000 |
|
Taxable income |
($30,000) |
|
|
Tax on taxable income @30% |
$0 |
|
|
Less: 30% Tax paid on Sales Revenue |
$172,800 |
|
|
|
||
|
Income Tax Refundable |
|
($172,800) |
Source: (Created by Author)
|
Deferred Tax Worksheet |
||||
|
Particulars |
Carrying Amount |
Tax Base |
Taxable Temporary Differences |
Deductible Temporary Differences |
|
$ |
$ |
$ |
$ |
|
|
Assets |
||||
|
Cash |
$10,000 |
$10,000 |
||
|
Trade Receivables |
$125,000 |
$125,000 |
||
|
Allowance for Doubtful Debts |
($4,000) |
$0 |
$4,000 |
|
|
Inventories |
$60,000 |
$60,000 |
||
|
Prepaid Insurance |
$10,000 |
$0 |
$10,000 |
|
|
Goodwill |
$20,000 |
$20,000 |
||
|
Equipment (Net) |
$300,000 |
$300,000 |
||
|
Accumulated Depreciation |
($60,000) |
($50,000) |
$10,000 |
|
|
Liabilities |
||||
|
Trade Payables |
$35,000 |
$35,000 |
||
|
Provision for Warranties |
$10,000 |
$0 |
$10,000 |
|
|
Provision for Annual Leave |
$20,000 |
$0 |
$20,000 |
|
|
Loan Payable |
$90,000 |
$90,000 |
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|
Total Temporary differences |
|
|
$10,000 |
$44,000 |
|
Deferred tax liability (30%) |
|
|
$3,000 |
|
|
Deferred tax asset (30%) |
|
|
|
$13,200 |
Source: (Created by Author)
Workings:
|
Particulars |
Calculation Base |
|
|
Accounting |
Tax |
|
|
Equipment-at Cost |
$300,000 |
$300,000 |
|
Useful Life (in years) |
5 |
6 |
|
Depreciation Expenses p.a. |
$60,000 |
$50,000 |
|
Period of Utilization (in years) |
1 |
1 |
|
Accumulated Depreciation |
$60,000 |
$50,000 |
|
Equipment (net Value) |
$240,000 |
$250,000 |
|
Particulars |
Amount |
Amount |
|
Doubtful Debt Expense |
$5,000 |
|
|
Less: Prov. For Doubtful debt |
$4,000 |
|
|
Bad Debt Expense |
$1,000 |
|
|
Annual Leave Expense |
$23,000 |
|
|
Less: Prov. For Annual Leave |
$20,000 |
|
|
Annual Leave Paid |
$3,000 |
|
|
Warranty Expense |
$12,000 |
|
|
Less: Prov. For Warranty |
$10,000 |
|
|
Warranty Expense Paid |
$2,000 |
|
|
Insurance Expense |
$40,000 |
|
|
Add: Prepaid Insurance |
$10,000 |
|
|
Insurance Paid |
$50,000 |
|
In the books of Snowy Ltd. |
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|
Journal Entries |
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|
Dated |
Particulars |
Amount (Dr.) |
Amount (Cr.) |
|
|
1/7/2015 |
Plant-A A/c. |
$150,000 |
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|
Plant-B A/c. |
$250,000 |
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|
Bank A/c. |
$400,000 |
||
|
(Being Plant A and Plant B acquired for cash) |
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|
Dated |
Particulars |
Amount (Dr.) |
Amount (Cr.) |
|
|
30/6/2016 |
Depreciation Expense A/c |
$65000 |
||
|
|
Accumulated. Depreciation. – Plant A A/c |
$15000 |
||
|
|
Accumulated. Depreciation – Plant B A/c |
$50000 |
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|
(Being depreciation charged on Plant A & Plant B) |
||||
|
Dated |
Particulars |
Amount (Dr.) |
Amount (Cr.) |
|
|
|
Accumulated. Depreciation – Plant A A/c. |
15000 |
||
|
|
Loss on Revaluation A/c. |
$15,000 |
||
|
|
Plant A A/c. |
$30,000 |
||
|
(Being Plant A revalued at fair value and loss on revaluation recorded) |
||||
|
Dated |
Particulars |
Amount (Dr.) |
Amount (Cr.) |
|
|
|
Accumulated. Dep. – Plant B A/c |
50000 |
||
|
|
Gain on Revaluation A/c |
$35,000 |
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|
|
Plant B A/c |
$15,000 |
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|
(Being Plant B revalued at fair value and gain on revaluation recorded) |
||||
|
Dated |
Particulars |
Amount (Dr.) |
Amount (Cr.) |
|
|
|
Gain on Revaluation A/c. |
$35,000 |
||
|
|
Loss on Revaluation A/c. |
15000 |
||
|
|
Asset Revaluation Reserve A/c. |
$20,000 |
||
|
(Being the gain and loss of revaluation transferred to asset revaluation reserve) |
||||
|
Dated |
Particulars |
Amount (Dr.) |
Amount (Cr.) |
|
|
|
Deferred Tax Assets A/c |
$10,500 |
||
|
|
Deferred Tax Liabilities A/c |
$4,500 |
||
|
|
Income Tax Expense A/c |
$6,000 |
||
|
(Being deferred tax recorded for the asset revaluation) |
||||
|
Dated |
Particulars |
Amount (Dr.) |
Amount (Cr.) |
|
|
30/06/2017 |
Depreciation Expense A/c |
72083 |
||
|
|
Accumulated. Depreciation. – Plant A A/c |
13333 |
||
|
|
Accumulated. Depreciation. – Plant B A/c |
58750 |
||
|
(Being depreciation charged on Plant A & Plant B) |
||||
|
Dated |
Particulars |
Amount (Dr.) |
Amount (Cr.) |
|
|
|
Accumulated. Dep. – Plant A A/c |
13333 |
||
|
|
Gain on Revaluation A/c |
$8,333 |
||
|
|
Plant A A/c |
$5,000 |
||
|
(Being Plant A revalued at fair value and gain on revaluation recorded) |
||||
|
Dated |
Particulars |
Amount (Dr.) |
Amount (Cr.) |
|
|
|
Accumulated. Depreciation. – Plant B A/c |
$58,750 |
||
|
|
Loss on Revaluation A/c |
$46,250 |
||
|
|
Plant B A/c |
$105,000 |
||
|
(Being Plant B revalued at fair value and loss on revaluation recorded) |
||||
|
Dated |
Particulars |
Amount (Dr.) |
Amount (Cr.) |
|
|
|
Gain on Revaluation A/c |
$8,333 |
||
|
|
Asset Revaluation Reserve A/c |
$37,917 |
||
|
|
Loss on Revaluation A/c |
$46,250 |
||
|
(Being the gain and loss of revaluation transferred to asset revaluation reserve) |
||||
|
Dated |
Particulars |
Amount (Dr.) |
Amount (Cr.) |
|
|
|
Deferred Tax Assets A/c |
$2,500 |
||
|
|
Income Tax Expense A/c |
$11,375 |
||
|
|
Deferred Tax Liabilities A/c |
$13,875 |
||
|
(Being deferred tax recorded for the asset revaluation) |
Workings:
|
Computation of Revaluation Gain/(Loss) & Deferred Tax |
||||||||
|
Year |
Opening Balance |
Estimated Life (in years) |
Residual Value |
Depreciation p.a. |
Closing Value |
Fair Value |
Revaluation Gain/(Loss) |
Deferred Tax Assets/ (Liabilities) |
|
|
A |
B |
C |
D=(A-C)/B |
E=A-D |
F |
G=F-E |
H=Gx30% |
|
Plant A: |
||||||||
|
2015-16 |
$150,000 |
10 |
$0 |
15000 |
$135,000 |
$120,000 |
($15,000) |
($4,500) |
|
2016-17 |
$120,000 |
9 |
$0 |
13333 |
$106,667 |
$115,000 |
$8,333 |
$2,500 |
|
Plant B: |
||||||||
|
2015-16 |
$250,000 |
5 |
$0 |
50000 |
$200,000 |
$235,000 |
$35,000 |
$10,500 |
|
2016-17 |
$235,000 |
4 |
$0 |
58750 |
$176,250 |
$130,000 |
($46,250) |
($13,875) |
Source: (Created by Author)
|
Allocation of Specified Impairment Loss |
|||
|
Particulars |
Carrying Amount |
Fair Value |
Impairment Loss |
|
|
|||
|
Total Impairment Loss |
|
|
$155,000 |
|
Less: |
|||
|
Cash |
$32,000 |
$32,000 |
$0 |
|
Land |
$600,000 |
$520,000 |
$80,000 |
|
Inventory |
$5,000 |
$5,000 |
$0 |
|
Accounts Receivable |
$13,000 |
$13,000 |
$0 |
|
Patent |
$60,000 |
$50,000 |
$10,000 |
|
Goodwill |
$15,000 |
$0 |
$15,000 |
|
Balance Impairment Loss |
|
|
$50,000 |
|
Impairment Loss Allocation as per Weightage |
|||
|
Particulars |
Carrying Amount |
Net Carrying Amount |
Weightage |
|
Balance Impairment Loss |
|
|
|
|
Motor Vehicle |
$300,000 |
||
|
Less: Accumulated. Depreciation |
($120,000) |
$180,000 |
55% |
|
Plant & Equipment |
$200,000 |
||
|
Less: Accumulated. Depreciation |
($50,000) |
$150,000 |
45% |
|
Total |
$330,000 |
$330,000 |
100% |
|
In the books of Blizzard Ltd. |
|||
|
Journal Entries |
|||
|
Dated |
Particulars |
Amount (Dr.) |
Amount (Cr.) |
|
30/06/2017 |
Impairment Loss A/c |
$155,000 |
|
|
|
Land A/c |
$80,000 |
|
|
|
Patent A/c |
$10,000 |
|
|
|
Goodwill A/c |
$15,000 |
|
|
|
Motor Vehicle A/c |
$27,273 |
|
|
|
Plant & Equipment A/c |
$22,727 |
|
|
(Being assets under the specific cash generating unit impaired) |
|||
|
Dated |
Particulars |
Amount (Dr.) |
Amount (Cr.) |
|
|
Profit & Loss A/c |
$155,000 |
|
|
|
Impairment Loss A/c |
$155,000 |
|
|
(Being impairment loss transferred to profit and loss account) |
References & Bibliography
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Arnold, P. J. (2012). The political economy of financial harmonization: The East Asian financial crisis and the rise of international accounting standards. Accounting, Organizations and Society, 37(6), 361-381.
Craig, D., & Michaela, R. (2014). Financial Accounting Theory.
Deegan, C. (2013). Financial accounting theory. McGraw-Hill Education Australia.
Edmonds, T. P., McNair, F. M., Olds, P. R., & Milam, E. E. (2013). Fundamental financial accounting concepts. New York, NY: McGraw-Hill Irwin.
Glaum, M., Baetge, J., Grothe, A., & Oberdörster, T. (2013). Introduction of International Accounting Standards, disclosure quality and accuracy of analysts’ earnings forecasts. European Accounting Review, 22(1), 79-116.
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