1.37 The Australian Accounting exam bank Standards Board
(AASB) and international accounting standards
What is the
relationship between the AASB and the international standard-setting bodies
such as the IASB?
Australian and international
accounting exam bank standards
Since 1
January 2005, Australian entities have complied with International
Financial Reporting Standards (IFRS). The Australian
Accounting Standards Board (AASB) is responsible for the development and
maintenance of high-quality financial reporting standards in Australia, and to
contribute to the ongoing development of global accounting standards. The AASB
provides input into current International Accounting Standards Board (IASB)
projects by issuing exposure drafts of amended AASBs that incorporate the relevant
clauses and requirements of the IFRS.
1.38 Sustainability reporting
BHP
Billiton Ltd includes a sustainability report in its annual report. What key
performance indicators are included in this report? Explain the different
stakeholders that would be interested in this information.
The key performance indicators included in this
report are:
1. governance
2. people
3. environment
4. exam bank
The employees of the company would be
interested in the safety and health measures undertaken by BHP Billiton Ltd.
Future employees may be interested in the gender diversity of the organisation
such as number of woman directors on the board of directors. Future employees
may also be interested in the age and cultural diversity of the workplace. Prospective investors may be interested in
the environmental aspects of the company such as climate change and energy,
biodiversity and land management and water management. Society would be
interested in the way the company supports and engages with the community, the
way the company respects human rights and makes a positive contribution to
society for question bank download.
1.39 Go to the ASX
website (www.asx.com.au).
a. In
the search field type, ‘What is the sharemarket’. Click on the result ‘ASX
Tutorial: What is the sharemarket?’. Watch the video on ‘What is the
sharemarket?’ How the buying and selling process work and what is the role of
the broker?
b. Next, click on
‘Prices, Research & Announcements’, then ‘Market statistics’. Under the
heading ‘Most traded shares’ click on the value of the top 20 shares. What are
the current question bank download top 20 shares by value?
c. Again under
‘Market statistics’, under the heading ‘Historical market statistics’ click on
‘number of listed entities’. What is the current number of listed entities on
the ASX and what is the percentage increase since 2002?
a. ASX-listed shares are easy to buy and sell compared with
unlisted shares, property and term
deposits. You can buy or sell small amounts quickly through a licensed broker. Brokerage fees for executing a
trade are usually a fixed fee
or a small percentage of the value of the shares traded.
1.40 After successfully
running her small private recruitment agency for a number of years, Anastasia feels
it is now time to expand. Her friends in business have told her to ‘get big or
get out’. One of the options she is investigating is whether or not to list on
the ASX. She has heard that the ASX question bank download has its own regulation in the form of
Listing Rules.
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