Executive Summary Downer EDI Limited is an international company which operates in Australia, Asia Pacific and New Zealand. It is included in top 100 of the Australian Stock Exchange. Downer EDI Limited provides public and other private sectors with engineering and infrastructure management services. Having considered the Annual Reports of the company from 2006 up to 2010, it can be stated that the company increased its revenue and financial power each subsequent year. Implementing different strategies as the result of the changes in the legislative and AASB Standards, Downer EDI Limited managed to remain a successful and frequently growing company. The Australian Accounting Standards Board either implemented changes to the existing laws or created new standards which affected the operation of Downer EDI Limited. The main purpose of this report is to consider the transformations which took place in the accounting regulations, understand the changes of the national and international economic environment and summarise the information having stated how each of the changes influenced the company during different years. An Analysis of Downer Group’s Announcements across the 5-Year Reporting Period 2006-2010 Most of the actions provided by Downer EDI Limited were announced with the purpose to inform stakeholders about the nearest changes in the company organization, operation, financial structures, etc. Some of the announcements were price sensitive, others were not. The price sensitive announcements in 2005-2006 reporting year were dedicated to the announcement of overall contracts in excess of $360 million which caused the company’s successful completion, acquisition of group Duffill Watts King and Coomes Consulting, and a number of other contracts (Downer Group 2006). 2006-2007 was as successful as the previous one according to the announcements. Downer Group declared about successful secures in Pilbara, acquisitions in New Zealand, new funding agreements, new water industry contract and extension of the relationships with Foxtel, the increased rail capacity in Maryborough and other new rail projects, to PPP Financial Close, contracts with Xstrata and ARTC, Alliance with Roche Mining, etc. (Downer Group 2007). Still, the company success was slowed down in 2007-2008 reporting year, according to the announcements. At the beginning of this reporting year, Downer Group announced about trading halt and sale of century resources. The appointment of a new Chief Executive Officer caused the changes in the contract between Downer EDI Mining and FMG. Still, starting with the beginning of 2008 and up to the end of the reporting year on July 30, 2008, the company signed up a number of acquisitions and contracts which increased its net income. Considering the media release headings of price sensitive announcements, the complete financial situation of the company can be followed, “Downer EDI signs contracts worth over $1 billion”, “Downer EDI announces Alliance with Western Power”, “Downer EDI wins supply order for 19 locomotives”, “Downer EDI Engineering to purchase Astute Limited”, “Downer EDI completes refinancing of A$ Facility”, etc (ASX 2008). 2008-2009 reporting year was full of contracts and acquisitions which increased Downer Group’s net income in many million dollars. Thus, the new $200 m rail contract for QR,