Learning Goal: I’m working on a accounting discussion question and need an explanation and answer to help me learn.
Assume you have finished your Commerce degree and are now an accountant working for the AASB. Your manager who is an AASB Principal Fellow has asked you to write a business report which:
1. With reference to the fundamental qualitative characteristics of useful financial information prescribed in the Conceptual Framework for Financial Reporting, explains why internally and externally generated intangibles are treated differently in the general purpose financial statements. (Suggested words: 400)
2. Explains the accounting treatment with specific references to the Australian Accounting Standard(s) for
expenditure (over its/their lifetime, if applicable) on the following items:
3. In the context of agency theory, evaluates whether corporates should provide shareholders with additional disclosures for internally generated intangible assets. In your response, ensure you explicitly define, explain, and apply agency theory. (Suggested words: 450)
4. In the context of the managerial branch of stakeholder theory and relying on the expected primary users of the general purpose financial statements (as per the Conceptual Framework), identifies two stakeholders (other than shareholders and potential investors) and explicitly discusses whether and how additional disclosures on internally generated intangible assets would benefit the decision-making of each identified stakeholder. In your response, ensure you explicitly define, explain, and apply the managerial branch of stakeholder theory. (Suggested words: 300)
5. Provides one example of additional disclosure information that you would recommend for internally generated intangibles which are not currently required to be disclosed in the general purpose financial statements and justifies why this information should be disclosed.
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more
Recent Comments