Reference no: EM131055673
Financial Accounting Assignment
Purpose of the assignment-
The assignment provides the opportunity to develop an in-depth understanding of measurement and recognition issues related to financial accounting. As accountants, we are concerned about providing decision-useful information to the users of financial statements for their decision making. To provide decision-useful information to the users of financial statements, accountants often require applying guidance given in accounting standards by using their judgment.
Part I (Approximate word count: 1,200 words)
According to the AASB framework, measurement is the process of determining the monetary amounts at which elements of the financial statements are recognised in financial statements. There are four measurement bases identified and discussed in the AASB Framework including present value.
Required: Discuss the concept of measurement in accounting and examine the limitations of "present value" as a measurement base in providing decision-useful information by supporting your arguments with the help of research articles (Use at least two research articles from academic journals).
Part II (Approximate word count: 1.200 words)
Required: Compare historical cost accounting with fair value accounting (AASB 13) and evaluate bow the use of fair value accounting has either increased or decreased decision-useful information for the users of financial statements (Use at least two research article from academic journals).
Part III (Approximate word count: 1.400 words)
Required: You are required to select one of the following areas:
- Leasing
- Liabilities including provisions and contingent liabilities (excluding lease liabilities)
- Intangible assets
- Revenue
Discuss the measurement and recognition requirements of the relevant accounting standard.
Review the most recent financial statements of a listed Australian firm and provide discussions about the measurement and recognition disclosure provided by the company in compliance with the relevant accounting standard (You are not required to provide financial figures).
Australian Accounting Standards can be accessed using the following website: https://www.aasb.gov.au/Pronouncements/Current-standards.spx.
|
Revision and adjustment of the optimal delivery system
: Evaluation of the delivery system against project objectives, business case, risks and constraints - Revision and adjustment of the optimal delivery system
|
|
Different aspects are these two societies similar
: Although the dystopia in Fahrenheit 451 is fictional, in many ways it parallels (is very similar to), perhaps to a lesser extent, some societies today.
|
|
What inventory model
: 1. What inventory model is appropriate for this model? 2. How many bottles should be ordered during that particular visit?
|
|
Annual cost of holding
: What is the annual cost of holding and set up? How many times per year the beer is produced?
|
|
Compare historical cost with fair value accounting
: BAO2202 Financial Accounting Assignment. Required: Compare historical cost accounting with fair value accounting (AASB 13) and evaluate bow the use of fair value accounting has either increased or decreased decision-useful information for the users..
|
|
Question regarding the regular subscription
: Your cost of capital is 7 percent. How many years would you have to live to make the lifetime subscription the better buy? Payments for the regular subscription are made at the beginning of each year. (Round up if necessary to obtain a whole numbe..
|
|
Methodically comparing his beloved
: Essays 600 words. Examine how William Shakespeare's Sonnet 18 uses logo's in methodically comparing his beloved to a summer day. Which one wins the comparison and why.
|
|
Which operas was written by mozart?
: Which of these operas was written by Mozart? Napoleon was defeated in 1815 by Wellington and troops fron. Which one of these are not a Germanic people?
|
|
Discuss liability coverage
: What insurance coverage should Kevin include when purchasing an insurance policy for this truck? Please discuss liability coverage, medical payments coverage, uninsured motorist, and damage to insured's auto.
|