This paper revolves around the International Accounting Standards (IAS), you are to prepare final accounts for Qantas Airline. You are required to provide brief report to the top management explaining IAS 1, IAS 2, and IAS 16, citing examples from the annual reports. Finally, provide references clearly indicating the name of the Author.  

Project description
All instructions is provided in the attached file. You can take information from qantas airways annual report
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Added on 10.05.2016 18:22
i have attached the file that has all required questions that should be answered. and you can gather information from Qantas airways annual report
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Added on 10.05.2016 18:22
While preparing the final accounts you realize that they do not follow the International Accounting Standards while preparing their final accounts.
You are required to prepare a brief report for the top management explaining the following International Accounting Standards, citing examples from the Annual Reports of any 1 Airline of your choice.
1.IAS 1 Presentation of Financial Statements
2.IAS 2 Inventories
3.IAS 16 Property, Plant & Equipment.
Guidelines
Your report should outline the following points for each of the above mentioned accounting standards:
1.Introduction to the IAS
2.Main Objectives/Scope
3.Key Definitions
4.Disclosures
5.Examples from Annual Reports of an Airline.

References indicating clearly the name of the Author, Journal/Magazine/Book name, year of publishing, and Publisher name. If using web then the complete URL of the website should be given including the date on which the material was accessed.
Evaluation
1.Each IAS carries 8 marks, making it a total of 24 marks.
2.Neatness and appearance of the report (includes formatting, cover page, index etc) 4 marks.
3.References 2 marks.