1. Context You are required to interpret the annual financial and corporate sustainability reports of
a company listed on the ASX. This assessment was designed to enable you to demonstrate your
understanding of the regulatory and ethical frameworks that govern financial reporting. This
assessment will prepare you for real-world financial statement analyses. You will be able to
evaluate the impact of financial results when different accounting policies are applied.
Instructions The assessment is divided into the following two parts: Part A: Interpret GPFSs and
related disclosures in accordance with accounting standards. Part B: Evaluate developments in
financial reporting and information from both social and technical perspectives. The discussion
is to be submitted in a business report format and should include: a title page; an executive
summary; a table of contents; an introduction; a report body with headings and subheadings; a
conclusion; recommendations; appendices; and a reference list. The word limit is 1,500 words
(+/10%). A minimum of three (3) different academic resources are required. This is a group
assessment. Each group will comprise two to three (23) students. Your group will be allocated an
ASX-listed company by your learning facilitator. No two groups will be allocated the same
ASX-listed company. Once allocated an ASX-listed company, obtain the most recent corporate
sustainability report and the annual report of the company. Part A: Accounting Policies For your
allocated company, refer to the notes to the financial statements pertaining to: (i) accounting
policies; and (ii) property, plant and equipment as disclosed in the statement of financial
position. Required (a) For your allocated company, based on the Australian Conceptual
Framework for Financial Reporting, define and describe the recognition and measurement
components of policy for accounting for each class of property, plant and equipment. (b) Discuss
events occurring after the balance date. Briefly, describe the two (2) kinds of events and the rules
governing their disclosure in the financial reports. Identify any disclosures of events that
occurred after the balance date for your allocated company. Part B: Sustainability Reporting For
your allocated company, address the following: (a) The company governance mechanisms that
have been implemented to address sustainability; (b) Any guidanlines the company has used to
implement environmental and social performance and reporting systems; (c) How corporate
social responsibility (CSR) voluntary disclosure varies across different companies and
industries/sectors. Your response must make reference to at least three (3) academic for JB Hifi
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