Topic:This assignment covers the in-depth theoretical concepts with some practical accounting task application based on the topics from the subject.

Task Details:This t task requires a consideration and application of accounting theories and concepts with critical analysis based on General Purpose Financial Reporting by corporations. It is required to prepare comprehensive report directed to an Australian ASX Top 100 listed corporation detailing a critical analysis of the effectiveness of the corporation to meet the obligations of the conceptual framework of accounting. It is also essential to analyze the company's accounting policies and corporate governance matters under the concepts such as accounting Theories, harmonization, standards settings, positive accounting theories, normative theories, measurement approaches and others.

The Summary Report must include data extracted from the Annual Report of the selected company relevant to the material

The company I have selected is Tabcorp

Things to be covered

Executive summary

Back ground

measurement

Conceptual framework

background of the company

Application of framework and theories by company

Principles of consolidation

Foreign currency transactions and balances

Fairvalue financial instruments

Measurement of financial instruments

Revenue recognition

Environmental regulation and performance

Basis of preparation and statement of compliance

Gap from the implications

conclusion

ACC 706 accounting theory and issues