Contemporary Issues in Accounting: A Review of Airxpanders, Inc. Annual Report

CONTEMPORARY ISSUES IN ACCOUNTING

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By student name
Professor
University
Date: 25 April 2018.
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Contents
Answer to Question 1..................................................................................................................................3
Answer to Question 2..................................................................................................................................4
Answer to Question 3..................................................................................................................................5
Answer to Question 4..................................................................................................................................9
Answer to Question 5..................................................................................................................................9
References.................................................................................................................................................10
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Answer to Question 1
Conceptual frameworks is a set of all the interlinked objectives and fundamentals used in the
preparation of the financial statements which are required to be complied with in order to prepare a
sound and reliable financial statements. The main purpose of the conceptual framework is to disclose
honestly all the information which are relevant to the economic resources of the organization being
reported. These also reflect the diligence of the entity, its management and the board in discharging
their responsibilities.
In the given case we are required to observe the annual report of the company in the sector of
Healthcare Equipment and Services, Airxpanders, Inc. We have considered its current annual report for
the financial year 2017 in order to review its compliance with the measurement requirements of the
conceptual frameworks (Dichev, 2017). It has been observed that the company has disclosed the
relevant information about the fundamentals of the business of the company and also related laws and
regulations, which has been clearly disclosed by the company in its financial statements, for instance,
manufacturing, products, intellectual properties, etc. along with the claims of the company.
The company has disclosed all the information required for the in depth knowledge about the financial
status of the company which is very much evident from the content of the information being disclosed.
Hence we can conclude that the company has met the measurement requirements of the conceptual
frameworks (Alexander, 2016).
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