This paper equips students with to appreciate some of the problems involved in preparing general purpose financial reports for external users. It will also enhance an understanding of the different issues facing accountants, preparers and users of general purpose financial reports, as well as enabling students to critically interpret annual reports.

TOPICS:

The topics covered in the paper includes the following:

1. Presentation of Financial Statement: NZIAS1
2. Financial Reporting for Specialized Industry: Agriculture: NZIAS 41
3. Financial Reporting for Specialized Industry: Insurance Contracts: NZIFRS 17
4. Reporting Underlying Profit and Statutory Profit
5. Arena Approach to Accounting and Accountability
6. Incorporating Indigenous Values in Financial Reporting
7. Integrated Reporting and Financial Reporting.
8. Creative Accounting

Depending on the number of students enrolled for the paper and available for participation in class discussions and presentations, the topics covered may not include all the above but limited to a few topics.

By exploring controversial issues underlying the presentation of annual reports, the paper aims to provide students with an appreciation of the problems and alternatives involved in compiling and presenting annual financial results. From a theoretical perspective, the paper examines financial reporting techniques in their political, social and economic contexts.

During the paper students will be acquainted with practical and theoretical problems and encouraged to research seminar topics for group discussion. A seminar approach will be used in the paper with all paper participants sharing in the leadership of seminars, which integrate both theoretical and applied knowledge. Class discussion will be encouraged throughout the paper.

The class size will dictate how the class operates and how often it meets.

The Internally assessed components make up 100.00% of the total assessment.