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The latest versions of Australian accounting standards issued by the AASB are available on the AASB
Question 1: Review the current accounting standards on the AASB website and select one accounting standard that is not examined in this unit (ACCT19061 Advanced Financial Accounting) or in ACCT19062 Intermediate Financial Accounting and which you consider might be important for you to have some knowledge about in your future role as a professional accountant.
Question 2: Use an internet search engine (for example, Google) to find two documents that you consider to be useful in gaining an understanding of the accounting standard. You do not need to include the documents with your answer, but you do need to include: name of document, author, date, and the link to the document. You should not include the accounting standard itself.
Question 3: Explain why these two documents would be useful to you in gaining an understanding of the accounting standard.
Financial Statement Analysis and Preparation
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An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.
Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.
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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Prepare general journal entries to record the transactions, assuming use of the periodic inventory system
Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.
Explain the IASB Conceptual Framework's perspective of users and their decisions.
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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