Critical analysis of the current requirements of ias

Assignment Help Accounting Basics

Reference no: EM132736189

Question: (1) Memo: write a memo to your colleagues at the accounting firm providing critical analysis of the current requirements and proposed amendments to the accounting standard. Your memo should include:

(a) Explain in what ways these proposed amendments to IAS 16 Para 17 will change the accounting for such sale proceeds before an asset's intended use.

(b) Critical analysis of the current requirements of IAS 16 Para 17. Note: Your critical analysis should include relative merits and demerits of continuing with the existing requirements of IAS 16 Para 17. Therefore, you need provide both for and against evidence-based arguments.

(c) Critical analysis of the proposed amendments to IAS 16 para 17? Note: Your critical analysis should include relative merits and demerits of introducing proposed amendments to IAS 16 para 17. Therefore, you need provide both for and against evidence-based arguments.

(d) Advice on whether or not your accounting form should support the proposed amendments to IAS 16 Para 17. Note: This advice should be supported with a well-justified logical argument based on the critical analysis of the current requirements and proposed amendments to IAS 16 Para 17.

Reference no: EM132736189

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