This website uses cookies to ensure you have the best experience. Learn more

Analyse Dm Essay

2039 words - 9 pages


Executive Summary 2
Introduction 3
Current accounting policies and relative accounting standards 4
Accounting policies 4
Judgement in applying accounting standards 4
AASB101 4
Sources of estimation and uncertainty 5
AASB 101 5
AASB 108 5
The current accounting practice of Discovery Metals 7
Property, Plant and Equipment 7
Impairment of assets 8
Provision 9
The potential gap 10
Recommendation 10
Conclusion 11
Reference 12
Appendix A 13

Executive Summary

The purpose of this research report is to analyse whether disclosures in Discovery Metals’ annual report comply with the requirements in Australian Accounting Standards (accounting estimate and ...view middle of the document...

This research report will divide into four main aspects; firstly, it will contain some detailed explanation about accounting standards which involved in accounting estimation uncertainty and accounting judgements. Secondly, it is about the analysis of disclosures in annual report. Thirdly, this part will cover the differences between company’s current practice and the accounting standard requirements. Finally, it will provide some recommendations to the company’s annual report that are not comply with the relevant accounting standards.

Current accounting policies and relative accounting standards

Accounting policies

According to AASB standards the accounting policies are the specific principles and procedures that used by a company to prepare its own financial statements. For listed companies, the accounting policies are usually display in very first note of financial statements. These policies usually concern the methods, high subjective elements and measurement systems which relate to present disclosures. It is important to look into a specific company’s accounting policies in order to analyse whether it conform to accounting principles (AASB108,).

Judgement in applying accounting standards


The contends of AASB 1011from paragraph 122 to 124 illustrate the disclosure about how the management makes judgements in the process of applying the entity’s accounting policies. These judgements are not only those involved in estimation but also those which have the most material impact on the financial statements, such as whether a lease is an operating lease or a finance lease. In addition some of these disclosures made in accordance with paragraph 122 are already require required to be disclosure by other Australian Accounting Standards, such as AASB 12 , AASB127 and AASB 140.

Sources of estimation and uncertainty

AASB 101

Accounting estimates play a significant role in preparation of financial statements. As many estimates are made of accounting information in business, they may not undermine their reliability. The contents of the sources of estimation and uncertainty are broadly outlined in paragraph 125 of AASB 101. It claims that if the assumptions have significant risk of inducing a major adjustment to the carrying amounts of assets and liabilities within the next financial year, then the note in financial report should include information about the assumptions that company makes about future and other material sources of measurement uncertainty at the end of reporting period. However, if the measurement of assets and liabilities are based on fair value, these requirements do not apply to them. In order to help users of financial statement understand assumptions and judgements made by management about future, AASB 101 paragraph 129 also provide some specific disclosure.

AASB 108

The objective of AASB 108 is to define standards for selecting and changing accounting policies. Moreover, it also...

Other Papers Like Analyse Dm

Managerial Communication Essay

3814 words - 16 pages of effective implementation, usefulness of assets created, wage material ratio, record keeping, job card, pass book of beneficiaries, etc., and make people aware about their right. The basic objective of MGNREGA DIWAS is to improve quality, effectiveness and transparency in MGNREGA implementation through adequate and effective monitoring. SECTION 2: Objectives of the study: The present study aims to analyse the impact of MGNREGA Diwas and

Hrm At Unitel Essay

2531 words - 11 pages .HRM practices: 6 7.Conclusion: 7 8.References list: 7 1.Executive Summary: Unitel was a huge telecommunications organization in the Asia Pacific area since their privatization in early 1990s. In order to expand their business and compete against others, Unitel has announced a new collective strategy called :”Vision 2020”, which was grown by an external consulting company. Firstly, this report aims to analyse the role of HRM during the

An Analysis of International Finance Issues & Vodafone

4021 words - 17 pages . The ways in which Vodafone attempt to limit this exposure will also be discussed. Therefore, the aims of this report are as follows: * Identify the foreign currencies which Vodafone PLC trade in; * Forecast the 2 year movement of the currency which Vodafone are primarily exposed to, against their home currency, GBP; * Analyse the current shape of the UK yield curve and discuss it’s determinants and implications; * Analyse the

Chris Docs

2857 words - 12 pages (L’Oréal). QUALITE DE POSITIONNEMENT Positionnement = image voulue par l’entreprise dans l’esprit du consommateur, par comparaison à ses concurrents. Lorsqu’il y a concordance = marketing mix est excellant. PRODUCTION ANALYSE DU TX DE PENERTATION. On a besoin : ➢ CA réalisé, CA potentiel, segments exploités (ou marchés), ➢ Calculs : Tx de pénétration/marché, Tx de pénétration global, indice de pénétration

Islamic Banking and Finance

2772 words - 12 pages tolerated in Shariah 3. Ijaarah - ‫( إ رة‬leasing) 4. Muraabahah - ‫( ا‬cost plus pricing) We will also briefly analyse Salam - , Istisnaa‘ – ‫ع‬ Tawarruq – ‫رق‬ ‫ ا‬and 1 Mushaarakah • “Mushaarakah” literally means sharing • “Mushaarakah” is derived from “shirkah” which means “being a partner”. • Mushaarakah is “a joint enterprises formed for conducting business in which all partners share the profit according to an agreed ratio while the loss

Crm At Shoppers Stop And Asos

7541 words - 31 pages retaining old customers is more profitable than making new customers. And if we analyse this statement then we come to know that their 65% of their customers are their first citizen customers. Today people goes for variety and shoppers stop is doing that, they offer total 250 brands to their customers which act as their strength and help them retaining as well as making new customers. They believe in producing quality so they offer quality

Freedom And Responsibility

2141 words - 9 pages Built within the Constitution of the United States are specifically defined freedoms that are guaranteed to all citizens. Conversely, with every constitutional freedom there comes a corresponding responsibility. On September 25, 1789, the state legislature’s twelve proposed amendments were transmitted by congress, the first two dealing with congressional representation and congressional pay. The following numbers three through twelve were

Hate Crime Laws

2348 words - 10 pages On June 7, 1998, 49-year-old James Byrd Jr. of Texas accepted a ride from three white men, who then beat him severely, urinated on him, chained him by his ankles to the back of their pick-up truck, dragged him for three miles into the countryside, and dumped his corpse in front of an African-American cemetery (Graczyk). A little over a year later, a jury sentenced ring leader John King to death by lethal injection (“Man Executed for Dragging

Rational Emotional Behavior Therapy Case Study Conceptualization And Treatment Plan

2140 words - 9 pages Rational Emotional Behavior Therapy Case Study of Sarah: A Conceptualization and Treatment Plan Rational emotive behavior therapy, REBT, was developed by Albert Ellis and holds the central belief that the events in our lives do not cause our disturbances but that they are instead caused by our view of the events (Murdock, 2009). Murdock (2009) states that “people are seen as responsible for their behavior” (p. 279) but, because they are

Holidays In Albania

1636 words - 7 pages Have you ever thought about having exciting and incredibly cheap vacations? Albania might be the right choice. According to My Travel Guide, Albania is ranked the fourth among ten places worth visiting in Eastern Europe (“Top 10 Eastern European Destinations”). One can encounter three kinds of vacations in this Mediterranean country: winter, summer, and cultural. The ideal places to spend your winter vacations are the Albanian Alps. They are

A Heart Of Darkness

1748 words - 7 pages In this short story, there are frequent significant subject and ideas that make the story, "A Heart of Darkness," by Joseph Conrad, and haunting novel. The main theme is absolute white power over the natives. The theme validates the corruption, and the dependence caused by the white people as they took over the Congo. White men were giving all the power; they had no self-control, and in the end they did not use wisely. The white men became

Related Essays

Technical Analysis Black Wednesday

1516 words - 7 pages Brittannië in het ERM blijft?” onderzocht op basis van een technische analyse in de vorm van de Simplest Test.   1   Exchange  rate  band  (DM/£)   Echange  rate  DM/£   3,200   3,100   3,000   2,900   2,800   2,700   2,600   2,500   2,400   2,300   Time   Exchange  rate   DM/£   Upper  Bound  S   Black  Wednesday  –   September  16,  1992

Using Km And Dm To Improve Business Performance

5628 words - 23 pages Integration of KM Technologies with KM Process Cycle 10 Figure 3 DM and KDD Process 11 Figure 4 Intersection of DM and KM 14 Abstract In recent years, there have been a lot of approaches employed by organisation to satisfy their customers and gain competitive advantage, continuous development of information system applications is also changing the ways in which businesses are conducted. From scanning barcodes at point

Ryanair Communicatie & Mediaplan Essay

5836 words - 24 pages : Slechte DM communicatie en persoonlijke verkoop 16 6.3 Ryanair : Eigen DM communicatie en persoonlijke verkoop 16 7. Analyse 17 7.1 Kosten per communicatie uiting 17 7.2 Voor en nadelen per communicatie uiting 18 7.3 Advies 19 8. Literatuurlijst 19 1. Algemene informatie over Ryanair Ryanair is een Ierse luchtvaartmaatschappij die is uitgegroeid tot de grootste low-fare luchtmaatschappij voor continentale vluchten in Europa. Het is

Post Earthquake Relief Action Essay

2859 words - 12 pages , economy and social structure of the country. LITERATURE REVIEW AIM The aim of this research is to study the response of a state in case of earthquake, to study the past drawbacks in terms of rescue, relief, monitoring and mitigation during the disaster management. We will also analyse the present scenario and the state’s preparedness for any future disaster for understanding their abilities to cope up with the same. HYPOTHESIS The