Discuss whether employees could be recorded as assets

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Reference no: EM131418971 , Length: word count:750

Financial Accounting Question

Go to https://www.smh.com.au/business/penalty-rates-kick-farewell-to-sunday-theday-of-rest-20170224-gukh2l.html

Read the article and answer the questions below. Expected approximate word length is noted for each

Article - Penalty rates kick: farewell to Sunday, the day of rest

Required:

a) Briefly discuss whether you believe the decision to cut Sunday rates will have an impact on an entity's profit and explain why/why not (150 words).

b) Discuss how an entity must record the value of employees in the general purpose financial reports according to AASB The Framework for the Preparation and Presentation of Financial Statements (Conceptual Framework/CF). Do not give journal entries; this must be a discussion using the definitions, recognition criteria and measurement bases set out in the CF (250 words).

c) Discuss whether employees could be recorded as ASSETS. Justify your answer using the CF definition and recognition criteria (250 words).

d) Assume that employees could be recorded as assets. Briefly explain how this would affect reported profits (100 words)

Reference no: EM131418971

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len1418971

3/8/2017 2:58:47 AM

Australian student, 750 words only, need it asap. Read the article and answer the questions above. Expected approximate word length is noted for each. Briefly discuss whether you believe the decision to cut Sunday rates will have an impact on an entity's profit and explain why/why not.

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