Both companies have similarities on accounting policies and adaptation. 1 Increase in estimated doubtful debts. 2 Lack of non-recurring gains as I mentioned in my earlier blog. 3 The financial statements have been prepared in accordance with NZ GAAP. Accounting policies applied in these financial statements comply with NZ IFRS and NZ IFRIC interpretations.

The objective of the blog is to analyse the earning quality for KMD and MVN. It even talks about the uncertainty in the economic environment and how it affects KMD and MVN. 4 KMD and MVN are both profitable compan.

Prior to my teams workshop presentation. We were asked to meet the group during the break time. A week prior to the semester re-opening we met and decided what can be done, who is doing what and why they chose that part.

Extent of their accounting flexibility. As of 31 June 2011, there is nothing as such mentioned in both companies report or in the audit report. There also no obvious or suspicious element in .