Task: You are required to choose an ASX listed firm and write a financial accounting assignment report analyzing its 2019 financial statements. The analysis must focus on discussing the firm’s reporting, measurement and disclosure practices on revenue. In the discussion, detail the accounting policy that the firm follows in reporting, measuring and disclosing its revenue. The discussion must be supported by the requirements prescribed by AASB 15 and relevant academic and professional disclosure. Justify why the firm adopted the policy in its 2019 financial reports rather than other policies permitted under AASB 15. To achieve this, you must present an alternative economic outcome in terms of accounting profit and net assets, if the firm chooses a policy permitted under AASB 15 but different to the one that was used in its 2019 financial reports. Students are also required to research on the economic, institutional, historical and cultural backgrounds of the firm to make sense its accounting choice in relation to revenue.
Subject Name: Finance
Level: Undergraduate
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