The Red Flags of Financial Distress

As a forensic accountant, it is often not difficult to see when a business is in some kind of financial distress. This is usually apparent from reviewing the Financial Reports for the business. However, it is a much more difficult…

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What Are Financial Reports And What Do They Reveal?

Financial Reports are typically associated with accountants.  This term can be found in the Corporations Act (“the Act”).  Section 295 of the Act specifies that an annual Financial Report consists of: the Financial Statements; the Notes to the Financial Statements;…

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The Financial Reporting Framework

In Australia, there are two basic frameworks to consider in order to determine whether a particular business is required to prepare Financial Reports and the standard to which those Financial Reports are to be prepared.  There is the legal framework…

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