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.
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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.