Discuss the relationship between accounting choices made by management and the values reported in financial statements and the possible reasons why those choices are made.
Title: Discuss the relationship between accounting choices made by management and the values reported in financial statements and the possible reasons why those choices are made.
Category: /Business & Economy/Accounting
Details: Words: 2237 | Pages: 8 (approximately 235 words/page)
Discuss the relationship between accounting choices made by management and the values reported in financial statements and the possible reasons why those choices are made.
Category: /Business & Economy/Accounting
Details: Words: 2237 | Pages: 8 (approximately 235 words/page)
Introduction
The Age (17 May, 1988) reported that the true picture of Wormald's financial state was revealed by the accountants, Arthur Young. After a request by the National Companies and Securities Commission (NCSC) Arthur Young prepared a revised report, increasing the original loss of $54.8 million to a loss of $255.9 million. This, of course, raises the question of why there was a difference between the reports prepared by the Wormald management and those prepared by the accountants. Section 269(9) …showed first 75 words of 2237 total…
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…showed last 75 words of 2237 total…Students Abridged Edition, Canberra.
Peirson, G., Bird, R. and Brown, R. (1985), Business Finance, (4th edn), McGraw Hill, Melbourne.
Phillips, G.R.E. and Hunt, L.J. (1985), Writing Essays and Dissertations - A Guide to the Preparation of Written Assignments in Colleges and Universities, University of West Australia Press, Perth.
Poole, L. (1987), "Creative Accounting - A Race for the Bottom?", The Chartered Accountant in Australia, Melbourne.
Wormald International Limited (1987), Pro-forma Financial Statements as at December 31, 1987, Melbourne.
