lecture 1 chapter 1

7/26/2019 Lecture 1 Chapter 1

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Chapter 1

Nature and regulation of

companies

Prepared by

Mark Vallely


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1. Summarise the nature and attributes of a company (p. 2)

2. Discuss the different types of companies which may be formed under the Corporations Act 2001(p. 3)

3. Describe the necessary documentation for forming a company (p. 7)

4. Describe the types of records needed to manage a company (p. 9)

5. Compare and contrast shares and debentures, and discuss the reasons for issuing disclosure

documents (p. 9)

6. Discuss the background and purpose of the Corporations Act 2001 by which companies are formed,administered and dissolved (p. 12)

7. Evaluate the reasons for the development of accounting standards and describe the current

arrangements for establishing accounting standards in Australia, subject to global influences in the

standard-setting process (p. 14)

8. Discuss the roles played by the Australian Securities and Investments Commission (ASIC) and the

Australian Securities Exchange Limited (ASX) (p. 25)

9. Analyse the concepts of general purpose financial reporting and the reporting entity (p. 26)

10. Describe the current differential reporting requirements (p. 28).


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A

I A I C (AIC)

C A 2001

A : (1)

2 million

companies inAustralia

(ASIC 2012)

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( 1)

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(2001)

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N : CLEP 1 CLEP 9

:

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B A

P 1984; AAF &

1984 AB (A B)

1988 AB

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90

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2002 FC AAB IAB

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AAB IF

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IF IAB

IAB

IF 2 = AAB 2 B P

1011

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(+100) IA

IA 16 = AAB 116 P, P & E


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100110

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AAB 1049

AAB 1054


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()

2005 MO E GAAP IF

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2008 G20 FAB IAB

EC , EC 2011

2014 2010 FAB IAB 2011

2011 EC

2012 C


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IAB

IF

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IF I

AAB

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AO G

E 2009, C, J K N 25

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AIC

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AIC A 2001 AIC

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GPF AC1

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..

AC1 GPF AAB I GPF, P F (PF)

Over28 000 companies

in Australia providefinancial reports

(ASIC 2012)

Not all of these companies comply withaccounting standards should they?

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2

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()

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2

2: GPF

IF A. GPF I ( 1)

AAB ED 193 2010

A

,

F /

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