The chosen company for this assignment is: Fortescue Metals Group (FMG)

Assignment Instructions and Requirements

Part A (14 marks)

Get and analyze financial statement of " Fortescue Metals Group (FMG)". ( It is available on google)

Answer the question below:

Based on your knowledge of accounting theories, identify one (1) disclosure each from two (2) separate accounting standards covered in this unit (e.g. Impairment of assets, Intangible Assets, Leases, Liabilities, Property Plant and Equipment, Income taxes etc.)

as made by your chosen company in their latest financial statements and evaluate each from at least two (2) theoretical perspectives to explain why the managers and their accountants reported what they did.

Choose theories from below:

• Positive Accounting Theory (PAT),

• Stakeholder Theory

• Legitimacy Theory

• Institutional Theory

For each of the disclosure you chose from the two (2) separate accounting standards, include the following in your write-up:

a) A description of the disclosure, include screenshots; (2 marks x 2 disclosures = 4 marks) (500 words)

b) Match the disclosure by writing its section of the specific AASB standard it relates to; (2 marks x 2 disclosures = 4 marks) (600 words)

c) Discuss using two (2) theories your interpretation of the reasons for the disclosure. (1.5 marks x 2 theories per disclosure = 3 marks x 2 disclosures = 6 marks) (700 words)

Answer rating: 100% (QA)

One disclosure from two separate accounting standards that Fortescue Metals Group FMG made in their latest financial statements is Impairment of assets and Property Plant and Equipment Impairment of a... View the full answer