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Explain the realization concept

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You are required to research and answer the following two questions. Your answer to each question must be written on a separate sheet(s). The indicative word limit for each question is approximately 200-300 words.

1. Briefly discuss the market view of the Financial Accounting Reporting Framework and suggest why these views are appropriate or non-appropriate in the case of New Zealand.

2. Using an example to illustrate, briefly explain the realization concept and its relevance to the preparation and presentation of financial statements.

Reference no: EM13509173

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