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ACCT6007- Financial Accounting Theory and Practice

Question

Answered

Task:

1. Explain the relationship between accounting theory, the accounting conceptual framework and accounting standards.

2. Work individually and in groups to identify and apply appropriate accounting standards to a range of authentic accounting scenarios

Instructions:

Conduct research into the revised Conceptual Framework for Financial Reporting issued in March 2018 by IASB.

Compare and contrast the differences between the new and previous Accounting Conceptual Frame work. Provide evidence in support from academic resources. Use minimum 10 academic references.

Your research should focus on the following topics.

1. Brief history in development of the Accounting Conceptual Framework.

2. Specific changes and development between the Conceptual Framework issued by IASB in 2010 and the one issued in 2018 (Hint locate IFRS Conceptual Framework project summary 2018) e.g. updates in the definitions of assets and liabilities; updates in measurement, presentation and disclosure requirements etc.

3. Future directions and your insights in development of Conceptual Frame work. 

ACCT6007- Financial Accounting Theory and Practice

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ACCG2024 Financial Accounting and Reporting

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© MIT Lasted Updated: November, 2019 T1-2020 Assessment Details and Submission Guidelines MA601 Theory and Current Issues in Accounting School Business Course Name Master of Professional Accounting (MPA) Unit Code MA 601 Unit Title Theory and Current Issues ...

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