Provide information about the financial position

Reference no: EM132371204 , Length: word count:1500

The following is the essay question you are required to address in Assessment Task 2.

AASB Standard 101 outlines "Financial statements are a structured representation of the financial position and financial performance of an entity. The objective of financial statements is to provide information about the financial position, financial performance and cash flows of an entity that is useful to a wide range of users in making economic decisions." (AASB 101, p. 8)

With specific reference to three standards (in addition to AASB 101) outline how an understanding of the AASB standards will assist "a wide range of users in making economic decisions". Ensure in your answer that you outline the various different decisions various users of the statements will make based on the financial statements.

Please note this is an individual essay (not a group assignment) and accordingly instances of collusion and plagiarism may result in significant penalties.

Please refer to the Course outline for further details on this assessment task.

These all are lecture slides. so please do as per the question you have to mention three AASB ruling method mainly focus on
1) FAIR VALUE MEASUREMENT AASB 13/ IFRS 13,
2) INTANGIBLE ASSET AASB 138/IFRS38
3) TANGIBE ASSET 116/IFRS 16...

and mention briefly about others...

Do reference in Harvard referencing style.

Reference no: EM132371204

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