AFX5120 sample essay (2)

this is another essay of AFX5120, 7 out of 10

Introduction


Corporate Governance Statement and Remuneration Report are core components of the Annual Report. The external users of financial report will make decisions by check these two reports besides the income statement and balance sheet. The Corporate Governance Statement shows the company how to conduct corporate governance, and sound corporate governance can help company to make more profit. Also, a good Remuneration Report makes the financial position of the company more transparent. This essay will analysis some Corporate Governance Statement and Remuneration Report in practical world.

Provide some examples of companies that appear to have performed well financially, even though they might not have model systems of corporate governance. Do you believe these companies could have achieved their financial performance if they were required to implement the full array of corporate governance policies and structures?

We found two companies which don’t have model systems of corporate but have performed well financially.

sample essay of AFX5120 (1)

few days ago, Julia announced new cabinet. Rudd got a position.:) the boss of DIAC is changed, now- Chris Bowen~ anyway~~

here is the third assessment of AFX5120, the first one is a test, and the second one is an essay. i will post the third one later
BTW, 7 out of 10 of this one.


Introduction


Due to the inherent uncertainties involved in business activities, certain items appearing in the financial statements cannot be measured accurately. They can only be estimated. (e.g. Bad debts.). The use of reasonable estimates which involve judgments based on the latest information available is essential for preparation of financial statements. It is called accounting estimates. It is very subjective, so in the auditing process, evaluating differences can be more difficult than in other areas of the audit. This essay will describe the auditor’s responsibility for examining management generated accounting estimates and describe the techniques commonly used by auditors to assess the reasonableness of those estimates. After that, it will show Waste Management Inc’s case to make these questions vividly.

about Monash (4)

in this one i will talk about one course, AFX 5120.
this unit is about auditing, assurance, fraud. i like this unit. it is a little hard, not the teacher is strict. there are 3 parts of the unit, assurance, government and fraud.
the lecturer of assurance is the unit coordinationer, and i think this part is very similar like auditing which i learned in my bachelor degree. and the difference is AFX 5120 is more specific in internal control, maybe this part is only about internal control. unfortunately,so far i am not quite sure the term "assurance". but i understand what is audit. i remember that in the first class of the unit, the teacher asked us, what was the audit. that was just about check...simple answer huh?LOL. i think the teacher is good, he can explain the question very well. and there is only one assessment, a small test. the questions were not difficult, very similar as what he taught in the lecture.
the second part is government. i think this part is the link of the rest two parts. because company needs government to governance its internal control. and if a company's government is not good, the fraud will happen. the teacher is a tall, thin man. i feel he is good too. but sometimes, i can not understand what he said. maybe that was my problem. there was one assessment too. a essay, 1000 words and group assignment. but i did it myself...the assignment was easy, but not esay to start, because the question was asked about one company has good financial performance without good corporation government. believe me, its not easy to find out such a company like this. i spent one day or maybe more to find it. a very good example of this kind of company is Harvd Norman, but this example was from the teacher, so we could not write about it. i found two example, one was westfield, and the other one was a small company, i can not remeber the name of it. but i thought the problems of HN or westfield are not big deal. both these two companies have one same problem, their chairman is also the director of the company. and my friend told me that, if one company has a problem of corporate government, it would not state it in the annual report. and i also belive it.
the third part is fraud. there is one problem of this teacher, at least i think. her voice is too low. this is a female teacher. sometimes i really could not hear what she said clear. besides fraud, this part is also about CSR, CORPORATE SOCIAL RESEPONBILITY? i guess. maybe the spell is wrong, but such a thing like that. there was one assessment too. but i can not remeber, maybe about some questions in the textbook. oh, there were three case study in this part, and i like one case about WorldCome,i like this one, and i also did a oral presetation about this case. through this part study, i felt very confused about the accouting firm Andrew Anderson. a former one of the BIG FIVE. the three case study all about the fraud happened in these companiese, and these three companies use the same accouting firm- AA. also, the most famous case- Enron, it also used AA as its auditing company. i could not understand, why AA was so famous, but did so many mistakes?
in the final exam, there were three parts too. but the questions were not simple. some question was about reading material, but i have not read it, so i made it up. LOL. i got D in this unit. better than at least half students of the unit.
in the accouting part, i like taxation law and auditing, but they are harder than the rest units. but i like them. i heard that in the accouting firm, taxation consultant and auditor are making a lot money, i hope i can do that too, in some days.