ACCT1501 Week 9 Lecture

8/10/2019 ACCT1501 Week 9 Lecture

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Week 9

Financial Reporting Principles, Accounting Standards and Auditing

and Sustainability Reporting

Student Handout

Lecturer:

Dr. Radzi Jidin

School of Accounting

UNSW

QUAD 3114

[email protected]

Moodle: https://moodle.telt.unsw.edu.au/login/index.php

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WEEK 9:

1. Introduction

This topic examines traditional financial reports i.e., annual reports, and theassumptions and accounting standards which underpin traditional financial reporting.

We examine the content, format, and context of annual reports.

We then consider information that is omitted from traditional financial reporting.

This leads us to explore sustainability reporting, a form of triple bottom line

reporting. We pay particular attention to sustainability disclosures relating to energyusage and greenhouse gas emissions i.e., environmental reporting. We also consider

another development in corporate reporting: integrated reporting.

At the end of this topic, you should be able to:

1) Explain the principles and concepts that guide the preparation of financial reports

2) Apply the definitions of assets, liabilities and equity, and determine when an asset

or liability should be recognised

3) Identify and evaluate the criticisms of traditional financial reporting

4) Explain what sustainability reporting is

5) Provide examples of energy and greenhouse gas emission disclosures

6) Identify the objectives of integrated reporting.

Required reading

Trotman, Gibbins & Carson Chapter 6: pp. 289-327

Chapter 7: pp. 345-377


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2. Tutorial Questions Week 10

Students should attempt these questions before the tutorial.

Preparation Questions:

Financial Reporting, Standards and Auditing: DQ 6.1, 6.9, 6.12, 6.13, 6.16, P6.9,P6.11, Case 6A (Parts 1-5, 8-10)

Sustainability Reporting: DQ7.2, 7.7, 7.16, 7.30, P7.3.

Tutorial Questions:

Financial Reporting, Standards and Auditing: DQ 6.38, P6.4

Sustainability Reporting: DQ7.34, P7.7


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Documents

ACCT1501 Week 9 Lecture