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Assignment requirements.
An extensive consultation paper has been provided to you related to the Conceptual Framework from the International Public Sector Accounting Standards Board.
As a group, you are to read the report, understanding its purpose and then discuss Phases 3 and 4 (Measurement as well as Presenting information in GPFR's). NOTE: you are not required to discuss Phases 1 & 2.
This will require further research by your group to understand the background, a clear understanding of the relevance of each phase and a discussion as to where this will lead, what the likely outcomes are and why. You should consider and include the history and practices in Australia in your report, e.g. AASB and the structure that existed pre-IASB. As a conclusion, you are to include what you have learned/understood from the paper and from your findings.
Financial Statement Analysis and Preparation
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This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited
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T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
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