Accounting Standards AASB

| March 27, 2015

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there are 6 small questions that i will upload to you .. please answer each question separately so Q1 with A1 then Q2 with A2 and Q3 with and A3 and so on .. and make sure its clear and relevant answer and easy to read …. the other thing i would like to say is i will upload to links that you should use it when find the answer so its the sources you will use

 

ACCG 872 ASSIGNMENT Week 4Due Thursday 26 March 2015

 

AASB Accounting Standards & Differential Reporting

  1. Who is required to comply with accounting standards issued by the AASB and reference your answer to a specific AASB accounting standard?

 

  1. What if any accounting standards are required to be complied with by a small proprietary company?

 

  1. What if any accounting standards are required to be complied with by a public company?

 

  1. Explain what the Reduced Disclosure Regime is and give an example.

 

  1. Should the AASB allow non-publicly accountable entities to have the option of adopting IFRS for SMEs instead of full IFRS, or RDR, and explain your reasons?

 

  1. Why did the ACNC state that non-reportingCharities need only comply with the 5 AASB disclosure standards and specifically exempt ASIC’s recognition &measurement policy?

 

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