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.
Date Submitted: 11/19/2004 08:45:54
Category: / Business & Economy / Accounting
Length: 8 pages (2237 words)
Category: / Business & Economy / Accounting
Length: 8 pages (2237 words)
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) …
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…Students Abridged Edition, Canberra.
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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.
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