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Question 1 - Two fundamental qualitative characteristics of accounting highlighted within the conceptual framework are 'relevance' (QC6-10) and 'faithful representation' (QC12-16). Which of these two characteristics do you think is more important? Justify your position. Given the nature of accounting standard setting, it is possible for accounting to ever achieve faithful representation? Justify your position.
Question 2 - Briefly describe each of the Normative alternatives to Historical cost. In your response include reference to the weaknesses of historical cost that each alternative attempted to address. Were any of these alternatives successful? In your answer you will need to outline your criteria for success.
Question 3 - Describe the key building blocks of conceptual frameworks. Outline two advantages for accounting that can result from the development of conceptual frameworks. What are the criticisms of conceptual frameworks? Do you agree with these criticisms? Justify your position.
Australian student, need to paraphrasing the total 2500 words assignment. But the subject related technical terms should be used as it is, make sure plagiarism level will be low. Solution file will be available with start working email. Academic Writing and Referencing - 3 marks, Content assessed: Conceptual framework, measurement and normative theories. Key generic skills: Research, critical thinking and written communication.
the account balances appearing on the trial balance below were taken from the general ledger of flops copy shop at
Does the author acknowledge these limitations? Does the author draw theoretical conclusions from the research that are justified by the methodology?
A company received a special one-time order for 1000 units. Producing the order will have no effect on the production and sales of other units. The buyers name will stamped on each unit, at cost of $2000. Normal cost data, excluding stamping, follows
at december 31 2010 the following information was available for j. graff company ending inventory 52130 beginning
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Using the information from RE8-8, calculate Jesse Stores' inventory on December 31 and its cost of goods sold for December using the LIFO method.
Prepare a multi step income statement that would be used for internal reporting purposes. Classify sales returns and allowances and sales discounts as contra-revenue accounts. Prepare a multi step income statement that would be used for external repo..
An auditor traced a sample of purchase orders and the related receiving reports to the purchases journal and the cash disbursements journal. The purpose of this substantive audit procedure most likely was to
refer to the financial statements of urban outfitters given in appendix c at the end of this book. at the bottom of
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