Write a report answering the questions below, based on annual reports of TWO companies for individual submissions and based on FOUR Companies for group submissions (1500 to 2,000 words for individual submissions and 2500 to 3000 words for group submissions). You need to do some extended personal research and self-directed learning in order to complete this assignment. 1. Conceptual framework defines a number of requirements relating to general purpose financial reporting by reporting entities within Australia. Why or why not would you argue that the selected companies are reporting entities? (Do NOT give answers in Yes/no only. Explain various points that inform you that these companies are reporting entities). 2. Identify various categories of assets and their reported values (current or non- current including intangibles). Compare and comment upon the methods of valuing (as per AASB116) and depreciating property, plant and equipment (PPE). Explain why or why not you would believe that the selected companies included any asset/s in their statement of financial position that they do not legally own? 3. Identify which accounting standards (AASB, IASB, GAAPs or any other standards) the sample companies have used to report their financial accounting information. Do you believe that IASB's efforts standardise and harmonise accounting standards can be successful in future?