The Presentation And Disclosure Of Information Essay

2070 Words Aug 19th, 2014 9 Pages
Assignment
Introduction
The purpose of this case study analysis is to evaluate the presentation and disclosure of information in the financial statements and the accompanying notes and accounting policies of fletcher building limited. The case study critically evaluates the application of the conceptual framework of accounting and the relevant accounting standards used by the company. The main body includes the discussion of five different questions related to the company. The case study concludes with a brief conclusion and reference note.

Discussion
Why is it necessary to regulate external financial reporting by a company such as fletcher building? The General purpose of a financial report is to meet the needs of a specific external parties in accordance with general purpose financial report. In order for a company to achieve this they must first comply with certain accounting standards and NZ framework. Examples of accounting standards such as being “true and fair” which means that the financial statements of company has to be free from misstatements and faithfully represents the financial performance and position of a company,( True and Fair, 2014). The true and fair value of financial statements is widely recognized as one of the best responsibilities of the management of a companies in the corporate law of other countries including NZ. There are a different entity or business that audit company’s financial statements and it’s up to the auditors to decide whether a…
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