Tutor Quora

Organizations Law : Business And Trade Activities

Academic Anxiety?

Get an original paper within hours and nail the task

156 experts online

Free Samples

Organizations Law : Business And Trade Activities

.cms-body-content table{width:100%!important;} #subhidecontent{ position: relative;
overflow-x: auto;
width: 100%;}

Organizations Law : Business And Trade Activities

0 Download6 Pages / 1,354 Words

Discuss about the Organizations Law for Business and Trade Activities.

With the growth of the business and trade activities within the society the necessity of the appropriate governess for the business activities and the business organization was felt by the governments across the world. Moreover, for this reason several governments of different countries introduced corporation governance rules and Acts in order to govern the business activities performed by the business entities within the specific nation (Hansmann & Kraakman, 2000). Afterwards, the rules, regulations, and Act related to the corporate governance has been changed and amended as per the needs from time to time. Global Financial Crisis was one of the most significant event for the world that forces the economist, academic scholars and the head of the nations to think about the monetary policies of the nations and to revaluate the policies and refurnished the policies as per the new situations need and demand. In Australia the corporate and business entities are governed by the Corporate Act 2001. `The Act provides requisite rules and regulations in order to govern and control the huge number of business organizations within the country (Hilb, 2005). In Australia the important accounting tasks are performed according the standards provided by Australian Accounting Standard Board (AASB), however, in the changing business circumstances the necessity of requisite amendment to the accounting standards and financial reporting standard has been immensely felt. Moreover, the accounting tasks and the requisite accounting standard are vital for the companies and play vital role in the governance of the organization (Kim & Nofsinger, 2007). This paper is on the accounting standard followed by the Australian companies and their competences with the international standard.                
Main body
Corporate governance has drawn attention from the entire academic scholars, researchers, economist, and policy makers across the globe when the big organizations like UK’s Enron and USA’s WorldCom has been collapsed in 2001 and 2002 consecutively. Moreover, from then the researchers and economist across the globe provide great attention in developing more efficient corporate governance policies and the various nations are applying the new rules and policies in order to improve the governance and control within the business organizations around the nations (Kimmel, Weygandt, & Kieso, 2010). The nation all across the world are trying to set efficient practices as a guidelines for their corporate governance. The economists and researchers all across the world are trying to explore several new perspectives in the field of corporate governance and the authorities are trying to apply various rules and regulation in order to overcome the significant issue. There are several different reports produces by organizations such as Cadbury Report in United Kingdom, Sarbanes Oxley in USA, The Day Report in Canada provide important guidelines and principles on the corporate governance (Lehman, Tinker, Merino, & Neimark, 2005). The aim of maximum numbers of rules and regulations is to enhance the corporate governance environment of the organizations. In Australia the ASX Corporate Governance Council’s provide the essential principles, guidelines and recommendations for the he companies performing business activities in this country for effective corporate governance within the organization. Good corporate governance can be referred to the corporate establishments, which leads to optimize the value of the entire stakeholders of the organization and it should be legally, ethically as sustainably competent (Mallin, 2004).
Moreover, it should ensure equity as well as transparency to each stakeholders of the company including the employees, customers, suppliers, vendors, the government as well as the society. Therefore, in current business context the corporate governance is becoming the determinant factors to several matters in detecting the organization’s strength and functionalities. One of the most vital functions of corporate governance is the accounting standard and financial reporting standard of the organization. In Australia the Australian Accounting Standard Board (AASB) is responsible to provide the essential accounting standards to the business organizations perform their business activities within this country (Reckers, 2001). The structure and practice of corporate governance play vital role in deciding the cost of the capital in the international capital market. The Australian business organizations should be equipped in order to compete internationally as well as to maintain and encourage the investors in Australia as well as in overseas. The corporate governance policies should be maintained strictly in order to promote high standards, values and transparency about the practices of corporate governance policies adopted by the companies. The ASX Corporate Governance council has amended the Principles 6 and 8 in order to make it apparent that a listed company is not need to comply with the Section 250RA and 300A of the Corporations Act, AASB 124. The boards of directors are mainly responsible for the external financial reporting function of the business organizations. The chief executive officer of the company along with the chief financial officer play crucial role in preparation of the financial report of the business organization and the boards has high degree of confidence and trust on them for integrity as well as disseminate of the accounting information of the organization (Steane & Christie, 2001). They keep an eye on the internal accounting system of the organization and are reliant on the accountant of the organization as well as the chief executive officer and chief financial officer dependent on the internal auditors of the organization. The present accounting rules in Australia permit the managers little selection in order to determine the methods of measurement and condition to recognize several different financial reporting elements. Frauds in financial reporting inclusive of non-disclosure as well as deliberate falsification of the values provide significant information risk to the users of the financial reports (Weygandt, Kimmel, & Kieso, 2014). For many reasons the AASB is going to implement the standards of the International Accounting Standard Board (IASB) and adopt the International Financial Reporting Standards (IFRS) in order to comply with the international standard and improve the acceptance of the Australian companies all across the world so that the investors take interest on the Australian company and make considerable investment in the Australian company.                                  
Corporate governance is one of the most crucial aspect of the organizations and it play vital role in the effective operation of the organization as well as it helps in further growth and development plan of the organization. Accounting is one of the key elements of corporate governance and providing effective mechanism and accounting standard the organizations can improve its standard and reputation in the industry. Like other developed countries Australia is also great emphasis on developing effective corporate governance policies in order to compete with the international standard so that improve the reliance and trustworthy of the organizations in Australia (Wink & Corradino, 2011). In this matter, the government has taken several effective steps such as the Australian Accounting Standard Board (AASB) has adopted several standards, rules and regulation from the International Accounting Standard Board (IASB) as well as adopted the International Financial Reporting Standards (IFRS) in order to prepare the financial reports of the Australian organization so that the Australian organization can compete internationally.
Hansmann, H. & Kraakman, R. (2000). The essential role of organizational law. Cambridge, MA: Harvard Law School.
Hilb, M. (2005). New corporate governance. Berlin: Springer-Verlag.
Kim, K. & Nofsinger, J. (2007). Corporate governance. Upper Saddle River, N.J.: Pearson/Prentice Hall.
Kimmel, P., Weygandt, J., & Kieso, D. (2010). Accounting. Hoboken, N.J.: Wiley.
Lehman, C., Tinker, T., Merino, B., & Neimark, M. (2005).Corporate governance. Amsterdam: Elsevier JAI.
Mallin, C. (2004). Corporate governance. Oxford: Oxford University Press.
Reckers, P. (2001). Advances in Accounting. Burlington: Elsevier.
Steane, P. & Christie, M. (2001). Nonprofit Boards in Australia: A Distinctive Governance Approach. Corporate Governance,9(1), 48-58. https://dx.doi.org/10.1111/1467-8683.00225
Weygandt, J., Kimmel, P., & Kieso, D. (2014). Accounting principles. Hoboken, N.J: John Wiley & Sons.
Wink, G. & Corradino, L. (2011). Intermediate accounting demystified. New York, NY: McGraw-Hill.=

Free Membership to World’s Largest Sample Bank

To View this & another 50000+ free samples. Please put
your valid email id.


Yes, alert me for offers and important updates


Download Sample Now

Earn back the money you have spent on the downloaded sample by uploading a unique assignment/study material/research material you have. After we assess the authenticity of the uploaded content, you will get 100% money back in your wallet within 7 days.

UploadUnique Document

DocumentUnder Evaluation

Get Moneyinto Your Wallet

Total 6 pages


*The content must not be available online or in our existing Database to qualify as

Cite This Work
To export a reference to this article please select a referencing stye below:


My Assignment Help. (2018). Organizations Law : Business And Trade Activities. Retrieved from https://myassignmenthelp.com/free-samples/organizations-law-business-and-trade-activities.

“Organizations Law : Business And Trade Activities.” My Assignment Help, 2018, https://myassignmenthelp.com/free-samples/organizations-law-business-and-trade-activities.

My Assignment Help (2018) Organizations Law : Business And Trade Activities [Online]. Available from: https://myassignmenthelp.com/free-samples/organizations-law-business-and-trade-activities[Accessed 19 December 2021].

My Assignment Help. ‘Organizations Law : Business And Trade Activities’ (My Assignment Help, 2018) accessed 19 December 2021.

My Assignment Help. Organizations Law : Business And Trade Activities [Internet]. My Assignment Help. 2018 [cited 19 December 2021]. Available from: https://myassignmenthelp.com/free-samples/organizations-law-business-and-trade-activities.

.close{position: absolute;right: 5px;z-index: 999;opacity: 1;color: #ff8b00;}


Thank you for your interest
The respective sample has been mail to your register email id


$20 Credited
successfully in your wallet.
* $5 to be used on order value more than $50. Valid for
only 1

Account created successfully!
We have sent login details on your registered email.



MyAssignmenthelp.com is one of the noted service providers that deliver essay help. We provide tailored essay assistance to make sure that student gets online essay help exactly in the way they want it to be written. We at MyAssigemnthelp.com have built teams of consultants, who readily attend every query related to help me writing my essay. We provide essay writing help in forms of tips and steps in order o assist students with tough essay assignments.

Latest Business Law Samples

div#loaddata .card img {max-width: 100%;

BU1112 Business Law
Download :
0 | Pages :

Course Code: BU1112
University: James Cook University

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia

Part A
Whether Stella is considered as an employee of PRX?
The main difference between employee and independent contractor is stated below:
Employee entered into contract of service, but contractor entered into contract for services.
Employer exercise control over the employee but no control was exercised by employer on contractor. It is considered as traditional test which was developed in Zuijs v Wirth Bros(Zuijs…
Australia South Lake Management health finance management  University of New South Wales 

BSBWHS605 Develop Implement And Maintain WHS Management Systems
Download :
0 | Pages :

Course Code: BSBWHS605
University: Swinburne University Of Technology

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia

Work Health and Safety Management System (WHSMS) is a collection of plans, tools, activities and processes. List 3 of these plans, tools, activities or processes and explain what they are,
The means, nitty gritty beneath, can be utilized whether the arranging procedure is straightforward or complex. They are:
Evaluating the current word related to wellbeing and security status including the ‘administration framework’ Lussier, R. N…
Australia Brisbane Management Work Health and Safety Management System (WHSMS University of Brisbane MBA 

BUSN331 Business Law
Download :
0 | Pages :

Course Code: BUSN331
University: Centennial College

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Canada

In Alberta, the Residential Tenancies Act applies to all the people in this jurisdiction, who rent their space out (Alberta Queen’s Printer, 2016). Through this act, the rights and responsibilities of the landlords and tenants are brought forward (Landlord and Tenant, 2015).
Question 1
Before a tenant can move in the rented accommodation, the tenant and the landlord have to reach an agreement, with regards to the…
Australia Edmonton Humanities Management University of New South Wales Masters in Business Administration 

LA1040 Contract Law
Download :
0 | Pages :

Course Code: LA1040
University: University Of London

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: United Kingdom

A contract is an agreement between the parties which is enforceable legally in the courts. There are several provisions of law which governs how the terms related to the contract would operate. A contract consists of a set of provisions which are known as contractual terms. The weightage of such terms are not equal as one term may have a more significant consequence as compared to the other in relation to their brea…
United Kingdom London Economics Management University of London 

TLAW202 Corporations Law
Download :
0 | Pages :

Course Code: TLAW202
University: Top Education Institute

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia

If any person wants to carry out his business in the form of a company, then, it is necessary that the registration or incorporation requirements of such country must be met. In Australia, the Corporation Act 2001 and the guidelines laid down by ASIC provides with the steps that must be accomplish in order to establish a corporate entity.  (Malbon & Bishop, 2006).
A company is of great significance as it is treated as a …


Need an essay written specifically to meet your requirements?

Choose skilled experts on your subject and get an original paper within your deadline

156 experts online

Your time is important. Let us write you an essay from scratch

Tips and Tricks from our Blog

11174 Introduction To Management

Free Samples 11174 Introduction To Management .cms-body-content table{width:100%!important;} #subhidecontent{ position: relative; overflow-x: auto; width: 100%;} 11174 Introduction

Read More »