Financial Accounting Systems
CASE STUDY ANALYSIS
Length: Approximately 2,000 words (excluding reference list)
This case study analysis requires you to evaluate the presentation and disclosure of information in the financial statements and the accompanying notes and accounting policies of Mainfreight Limited contained in their latest Annual Report.
Your Case Study Analysis should critically evaluate the application of the conceptual framework of accounting and the relevant Accounting Standards (NZ IAS 1, NZ IAS 7, NZ IAS 8 and NZ IAS 10).Your evaluation should answer the following questions:
1. Why is it necessary to regulate external financial reporting by a company such as Contact Energy Limited or Mainfreight Limited?
2. What is the role of the conceptual framework of accounting, and accounting standards in external financial reporting in New Zealand?
3. What does the relevant accounting standard/s prescribe for the presentation and disclosure of information in the Statement of Profit and Loss and what is your evaluation of the extent of application of the relevant accounting standard by your allocated company?
4. What is the extent of application of management judgement and estimates for items disclosed in your allocated company’s financial statements?
5. What are some issues that arise when there is application of management judgements and estimates for items disclosed in the financial statements?
The evaluation should be analytical and not descriptive. Support your evaluation and discussion with relevant examples and appropriate secondary literature from your research.
Provide appropriate in-text references and a reference list at the end of your case study analysis. Use APA 6th edition style for referencing
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