The assignment’s goal is to gain an understanding of the fundamentals of financial accounting: Financial Accounting and Reporting Assignment, OUM, Malaysia
|Open University Malaysia (OUM)
|Financial Accounting and Reporting Assignment
The assignment’s goal is to gain an understanding of the fundamentals of financial accounting in numerous publicly traded Malaysian organisations. The task is to evaluate organizations’ financial reporting, with an emphasis on the MFRS used, vertical and horizontal analysis, and company ratios. The assignment is to analyze the financial statements and interpret the company’s financial health, performance, and liquidity. We are also expected to provide advice and calculate financial ratios.
Aside from that, we are required to disclose MFRS-related information. In this scenario, we must choose amongst MFRS 101, 110, 116, 133, 137, and 140. The relevant MFRS title contains MFRS 101, which covers the presentation of financial statements, while MFRS 110 covers events after the reporting period, Property, plant, and equipment—MFRS 116, Earnings per share—MFRS 133, MFRS 137 covers provisions, contingent liabilities, and contingent assets, while MFRS 140 covers investment property. The major purpose is for students to thoroughly understand the Malaysian Financial Reporting Standards framework.
This requires understanding the MFRS’ concepts, principles, and standard structures. Students are expected to be knowledgeable of Malaysia’s regulatory structure and the legislative requirements for MFRS financial reporting. The goal of the assignment is also to gather, measure, record, and report an organization’s income, receivables, and expenses for the financial statement. Furthermore, ratio calculation provides a quantitative framework for evaluating a company’s liquidity, solvency, efficiency, and financial performance, as do horizontal and vertical analytical objectives. Students learn how to analyse a company’s financial health and identify its advantages and weaknesses by calculating and interpreting ratios.
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