Question
Refer to the following article: https://www.theage.com.au/business/companies/companies-warned-to-brace-for-toughest-reporting-season-in-decades-20200713-p55blp.html and answer the following three questions: 3. Refer to the following extracts from the article and discuss and explain
Refer to the following article:
https://www.theage.com.au/business/companies/companies-warned-to-brace-for-toughest-reporting-season-in-decades-20200713-p55blp.html
and answer the following three questions:
3. Refer to the following extracts from the article and discuss and explain them in the context of 'creative accounting": "The industry bodies, along with ASIC are stressing companies to present a clear view of the underlying performance of the business, stripping away any negative or positive impacts brought about by the virus". "This includes stimulus initiatives such as JobKeeper, but also counts more obscure issues, such as cyber security risks brought on by remote working arrangements, changes in trade contracts with suppliers, and interruptions to supply chains". "The warnings also extend to executive bonuses, which are decided by company boards following the finalisation of its full-year accounts, with the industry groups calling on boards to exercise discretion".
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started