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Report: Instructions Requirements for the report:
The report requires the conventional structure of a business research report, including (in this order) a report cover page, a table of contents, an executive summary, an introduction, body, conclusion/recommendations, a list of references and an appendix showing all relevant parts of the annual report (statements and notes) that you have used and referred to in your report. Do not attach the entire annual report.
The total word length of the report is 1,200 words. A leeway of +/-10% is allowed. Report cover page, table of contents, list of references and appendices will not be counted in the word count. You need to provide the word count on the report cover page.
You are expected and required to use references to support your report, for example, textbooks, accounting standards and other reporting guidelines, journal articles and other academic literature. Any sources of information that you have used must be referenced (in-text citations and list of references) according to the Harvard Referencing System
ACC intermediate Assign Report Intermediate Accounting Name Institution Date Executive Summary Reporting entities in Australia need to prepare financial reports in accordance with the conceptual framework, where there are fundamental and qualitative characteristics. Qantas is a national carrier in Australia, and recorded, the property, plant and equipment in accordance with AASB 116, adapted from the international financial reporting standards IAS 16. The financial report was prepared to represent relevance and faithful representation. Additionally, the calculation of the carrying, amount, impairment losses and depreciation was recorded to increase full disclosure. There is a need to take into account impairment testing for assets that are similar to avoid distorting the fair value of the property, plant and equipment assets. Introduction The conceptual framework focuses on the purpose of financial reporting, and then the qualitative characteristics, which make financial information useful. In Australia, AASB 116 is similar to IAS 16, and provides guidelines to record the property, plant and equipment (PPE). Reporting entities use AASB 116 when recording the property, plant, and equipment assets in financial records. The standards focus on requirements to record revaluations, impairments, depreciation charges and determining the carry cost of the assets. This report highlights the general purpose and qualitative characteristics of the Conceptual Frame work as wel...