Financial Assessment

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Financial Assessment

Financial Assessment


The financial assessment will be carried out of the case related to financial reporting regulations and accounting entity. One of the other important aspects in the case will be that all these concepts will be evaluated according to the Australian requirement. In this way, the financial assessment of the business transactions that takes place in Australia will be assessed. Therefore, all the issues and aspects related to Financial Assessment will be discussed in detail.


Question 1

Ans1a- Objectives and Functions of external financial reporting regulations in Australia

The external financial reporting represents an ongoing concern of branches and financial analysis. In a changing economic and financial environment in which the regulatory activity has intensified since the early 2000s, large international groups are facing a complexity and an increasing requirement needs of financial information to third parties destination (shareholders, creditors, regulators, other stakeholders). A market M & A dynamics, governance rules in the process of internationalization because of recent regulations or gradually implemented in the U.S. (Sarbanes Oxley) and in the European Union (8th Directive), major changes IFRS accounting standards to be because of the convergence program in progress with the FASB, the increasing use of fair value in the preparation of financial statements, the increased cooperation of the regulators (SEC, CESR) through the application of IFRS and U.S. GAAP contribute to these increased needs. Meanwhile, the use of IFRS is spreading gradually internationally with more and more countries that allow or require IFRS adoption. Meanwhile, the financial statement users (investors, financial analysts, rating agencies) are looking for ever more complete financial information, reliable and transparent. Moreover, the recent strengthening of the independence requirements applicable to auditors, particularly in France and the United States now leads the group to rely on resources outside the networks of their external auditors to provide services that are not compatible with the function of auditors (Charlotte, 2007, 143).

Whether a group is studying or is confronted with an acquisition, divestiture or a major reorganization has an initial public offering. The implementation of new accounting principles simply looks for assistance for its normative monitoring of accounts. The specialized teams of Deloitte can help the financial analysts for reporting accounting measures. Any person possessing a wide knowledge in the application of IFRS and U.S. GAAP financial reporting rules can direct Prospectus and Transparency, financial reporting rules of the SEC and extensive experience in Major Project's for conversion and support of acquisitions. This step has four principles which are:

The timely availability of expert assistance in helping analyze complex accounting positions and develop documentation to satisfy the market information and the requirement of the auditors and regulators;

To have external assistance mobilized quickly to help meet the calendar constraints structure operations such as acquisitions for the assistance in preparing the opening balance sheet and IFRS conversion if applicable, transfers statement preparation for making it carved out to have proper financial statements.

Benefit from the experiences of experts and normative sector who will share their expertise gained by ...
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