Describe the key building blocks of conceptual frameworks

Assignment Help Accounting Basics

Reference no: EM131626986 , Length: word count:2500

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.

Reference no: EM131626986

Questions Cloud

Introduce crunch stuff? n stars : What is the relevant sales level to consider when deciding whether or not to introduce Crunch Stuff? 'n' Stars?

Prepare a budget based on a level of activity : Clothar pic manufactures one standard product and in common with other companies in the industry is suffering from the current depression in the market.

Analyze the gross profit margin and equity multiplier ratios : Calculate and analyze the Gross Profit Margin, Equity Multiplier, Return on Equity and Return on Assets ratios for your selected company.

Gaining knowledge about the specific product being sold : A successful salesperson focuses only on gaining knowledge about the specific product being sold because that is the only information that customers demand.

Describe the key building blocks of conceptual frameworks : Describe the key building blocks of conceptual frameworks. Outline two advantages for accounting that can result from the development of conceptual frameworks

Salary increases at an average annual rate : If your salary increases at an average annual rate of 9.72 percent, how low will it take to reach your goal?

Required to pay joey to compensate him for his injuries : If the escrow account that holds Joey's settlement award earns an annual average rate of 12% compounded semiannually, how much was the defendant.

Explain what the era is : From the Seneca Falls Convention in 1848, to the Lily Ledbetter Fair Pay Act of 2009, women and men continue to push for a more fair and just society.

Assessing the financial performance : Using the financial statements from your selected health care organization (Acadia Healthcare CO. Inc.), develop a financial plan for the next three (3) years

Reviews

len1626986

9/5/2017 1:09:11 AM

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.

Write a Review

Required(*) Message

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

User Account

All Pages