Answer: The accounting quality has been improved through the implementation of the IRFS. The IRFS forms the basis of reporting by all sectors, both for-profit and nonprofit firms. The report, therefore, has two main parts that include; the implication of the IRFS on the overall accounting quality. How the quality of accounting has significantly been improved by the introduction of IRFS in the financial statements and professionalism of account...Read More
Answer: Introduction: Boral Limited is the multinational company that supplies and manufactures the construction and building materials. The company has great capability on which it can build the future. It is resource – based company that is large and built their position as leader and developed good relationships with wide range of customers (Boral.com.au 2018). Particulars 2016 (Million) 2017 (Million) Rev...Read More
Answers: 1. Substance over Form is viewed as an accounting notion and it implies that the economic substance of transactions and event needs to be recorded in the financial statements of the companies rather than just their legitimate procedure with the aim to present a true and fair view of the financial matters of the business entities. The concept of Substance over Form requires that there is a need for the use of judgments by the preparer...Read More
Question: Discuss About The Frankston First Computerized Spreadsheet? Answer: Introduction: Artificial intelligence is powerful system which provides outputs that can be extremely accurate and replace human efforts. However, they cannot replicate human intelligence. There is need to recognize the opportunities and threats of this different form of intelligence, and develop understanding of the best ways for computers and human t...Read More
Questions: 1.You are to report on the Processes used to make changes to Australian Accounting Standards. 2.Write a report as if you were responding to the Call for Comment. Answers: Introduction An accounting standard is a basis of accounting that applies to various transactions and events of accounting. All the organisations are expected to prepare their financial statements on the basis of these standards. If ther...Read More
Question: Discuss about the Conceptual Framework Standards System. Answer: Introduction The general purpose financial statements are developed by a business entity in order to provide information to end-users about its financial position. The IASB has developed and provided the standard guidelines for all business entities for developing the financial statements through the development of conceptual accounting framework. The...Read More
Question: Critically Analyse the Theoretical and Practical aspects of a range of Current Accounting Issues. Answer: Introduction Through this review, it will be analyzed and interpreted that the positive accounting research is the part of wider scientific project. Positive accounting theory has been considered as the starting point while making the paper but later on the more focus has been laid on the positive accounting re...Read More
Question: How do Social Contract’s Relevance and Application within Legitimacy Theory in Accounting? Answer: Introduction This report is aimed to explore the theory of legitimacy in the financial accounting system. In the past years, it has been seen companies were more focused on the profit earning theory and they only want to improve their performance to earn more profit (Omran and Ramdhony, 2015). However, this sole cau...Read More
Question: 1.To what magnitude does the shortfalls in the PAT research application occasioned the ineffectiveness of PAT research program than forecast? 2.How does PAT research applied presently in accounting practice? Answer: Introducation: The underlying topic discussed in this critique is shortcomings observed in accounting practice which has fell short of the dominant cosmic positivist research program. The central purpose of th...Read More
Question: Discuss about the Defense of Positive Accounting Research ? Answer: Introduction This report contains all the details regarding article of positive research accounting. In this article various facts and figures of positive accounting theory have been given. There is several methodology and models have been shown which reflects how humans would make decision in different situation based on prepared accountin...Read More
Question: Discuss about the Accounting Theory and Contemporary Issues TFV. Answer: Introduction As of late, the idea of TFV has become the most important accounting standards in the field of bookkeeping. Besides, the idea of TFV has turned into a piece of English law and also stays rudimentary significance in IFRS (International Financial Reporting Standards) and GAAP (Generally Accepted Accounting Principles). It is crucial...Read More
Question: Discuss about the Strengthening Financial Reporting Framework. Answer: Introduction: The title of the topic is True and Fair View – An analysis with Regulatory framework. This is mainly focused on how the true and fair view concept has been developed over the years and has been earlier known by the different names. The concept of true and fair view is applicable not only on the financial statements of the co...Read More
Question: Discuss about the Half a Defense of Positive Accounting Research. Answer: Introduction The title of the study is half a defense of positive accounting research. The article at the very beginning itself states that the author has used positive accounting theory partially in his study to complete the same. Title of the study also denotes that author has used the positive accounting theory as a defense for buildin...Read More
Question: Discuss about the Australian Accounting and Contemporary Issues. Answer: Introduction The current study elucidates in detail the detailed objectives of the conceptual framework and the qualitative characteristics of the financial framework. The present report thereafter explicates in detail the extent to which the financial statements of the firm BHP Billiton adheres to the conceptual framework. BHP Billiton is a ...Read More
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