logo

Advanced Financial Accounting - Assignment

   

Added on  2020-10-22

11 Pages2640 Words134 Views
Finance
 | 
 | 
 | 
Advanced FinancialAccounting
Advanced Financial Accounting - Assignment_1

ContentsINTRODUCTION...........................................................................................................................1TASK...............................................................................................................................................1Assessment Task Part A..............................................................................................................1Assessment Task Part B..............................................................................................................2Assessment Task Part C..............................................................................................................4Assessment Task Part D..............................................................................................................6CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
Advanced Financial Accounting - Assignment_2

Advanced Financial Accounting - Assignment_3

INTRODUCTIONFinance is the major source which can be used by the organisation in order to gain thesustainability in an effective manner. This can be simply said that the financial disclosures can bemade as per the IFRS which simply means that the primary users are needed to inform aboutresources of the organisation which do not simply evaluate an organisation’s prospects for thefuture net cash inflows but likewise how efficiently management has to discharged theiraccountabilities to implement firm’s current resources (Harun and Kamase, 2012). IFRSframework notes that common purpose financial reports cannot render whole information thatusers might require to form economic decisions.TASK Assessment Task Part AIFRS framework notes that other parties, covering prudential and market regulators,which might search common aim financial reports useful. Although, these does not considermain user and common aim financial reports are not basically instructed to regulators or otherparties.IFRS framework elaborates basic concepts which underline forming and presentation offinancial statements for external users. IFRS framework serves as a guide to the Board in theemerging future IFRSs and to resolve accounting issues which does not addressed instantly in anIFRS or IAS. The IFRS framework helps to identify objective of financial reporting, qualitative functions ofuseful financial information, reporting entity, identification, recognition, and measurement ofcomponents from which financial statements are made, concept of capital and capitalmaintenance. However, this can be rightly said that the general aim financial statements issued by theorganisation enterprises started in the earnest once the “decision usefulness” world view enteredthe literature, initially in the United States in 1950s. Objectives of ‘Financial Accounting andFinancial Statements’ said that ‘basic aim of financial accounting and financial statements is torender conceptual basis for future pronouncements, as this had peremptorily rejected ‘redical’recommendations.1
Advanced Financial Accounting - Assignment_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
International Financial Reporting - DOC
|15
|3498
|34

Conceptual Framework for Financial Reporting - Critical Analysis
|14
|3107
|46

Financial Reporting: Conceptual Framework, Objectives, GAAP, Qualitative Characteristics, and Basic Assumptions
|8
|1282
|94

Report on Conceptual and Regulatory Framework of Financial Reporting
|18
|4548
|201

International Financial Reporting Standards | Assignment
|11
|3115
|32

Qualitative Features of IFRS Financial Statements, Australian Government Decision, FASB Regulation, Revaluation of Property, Plant and Equipment
|12
|2743
|165