Assume that each of you is a summer vacation intern at the Melbourne office of an

international accounting firm and have been assigned to a team to work together to

produce a report for a partner of the firm. Specifically, the partner requires the team

download and read the 30

th

June 2018 financial statements of some ASX listed

companies. Teams consisting of three members will access the 30

th

June 2018 financial

statements of AXSESSTODAY LIMITED, CROWN RESORTS LTD, and WISETECH

GLOBAL LTD. Teams consisting of four members will access those three financial

statements plus the 30

th

June 2018 financial statements of WESFARMERS LTD. The

report must:

i. explain:

the accounting policies adopted;

the disclosure of changes in accounting policies (if any);

the disclosure of changes in accounting estimates (if any);

how errors have been treated (if any);

how events after the reporting period have been treated (if any);

the role of materiality.

ii. evaluate the usefulness of this information to users of the above financial

statements. The evaluation must include identification of whether the team

agrees with the policies and estimates adopted, along with the treatment of errors

and events after the reporting period and whether the team finds the provided

information strengthens or weakens the usefulness of the financial statements.