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Time Constrained Assessment

Added on - 04 Dec 2019

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Time ConstrainedAssessment1
Table of ContentsINTRODUCTION...........................................................................................................................4TASK 1............................................................................................................................................41. Accounting...................................................................................................................................4(a) Elements of definition............................................................................................................4(b) Comparison with other definitions........................................................................................42. IASB's Conceptual framework....................................................................................................5(a) Use of conceptual framework approach................................................................................5(b) Key issues in IASB's Conceptual framework........................................................................5(c) Usefulness for investors and stakeholders.............................................................................5TASK 2............................................................................................................................................61. Consolidated financial statements...............................................................................................6(a) Control in preparation of consolidated financial statements................................................6(a) Reasons for group structure...................................................................................................6(b) Significant influence under IAS 28.......................................................................................7(c) Joint Venture under IAS 31...................................................................................................7TASK 3............................................................................................................................................71. Modern Annual reports................................................................................................................7(a) Role of annual reports...........................................................................................................7(b) Information contained in modern annual reports..................................................................72. Other sources of information.......................................................................................................8(a) Other sources useful in decision making...............................................................................8(b) Use of non-financial information to assess reasonableness.................................................8CONCLUSION...............................................................................................................................8REFERENCES................................................................................................................................92
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