Task:
Required:
Based on the Board’s decision, the CFO asks you to draft a
business research report addressed to the Board of Directors on the
following:
a. Critically analyse to what extent the 30 June 2020 annual
report of your company meets the disclosure requirements for PPE as
per AASB 116.
b. Based on your findings in part a, critically analyse to what extent the disclosures on PPE satisfy the fundamental and one of the enhancing qualitative characteristics of useful financial information.
c. Based on your findings in part b, critically discuss to what extent the disclosures on PPE align with the objective of general-purpose financial reporting.
d. Recommend any actions to be taken by your company to improve their disclosures for 30 June 2021 annual reports based on your analysis in part b and c
a) Provide a critical summary of the PPE disclosures made by your chosen company for the year ended 30 June 2020.
b) Explain if those disclosures meet the fundamental and one enhancing qualitative characteristics of financial information.
c) Critically discuss if those disclosures satisfy the objective of financial reporting and any recommendations
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