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FIJI NATIONAL UNIVERSITY<br />ACC703 Financial Accounting Theory & Practice<br />Tutorial for Weeks 1 & 2<br /><ul><li>Pro...
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Acc703 Financial Accounting Theory Tut 1 Week 3

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Tutorial for Topics 1 and 2

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Acc703 Financial Accounting Theory Tut 1 Week 3

  1. 1. FIJI NATIONAL UNIVERSITY<br />ACC703 Financial Accounting Theory & Practice<br />Tutorial for Weeks 1 & 2<br /><ul><li>Provide a short definition of Financial Accounting and how it is quite different from management accounting functions.
  2. 2. Explain why the function of financial accounting is heavily regulated by the government as well as international bodies.
  3. 3. Explain the function of the International Accounting Standards Board (IASB) and International Financial Reporting Standards (IFRS).
  4. 4. Why do we need a Conceptual Framework in Accounting? Explain.
  5. 5. Differenciate between Positive and Normative Theories using examples.
  6. 6. Identify some of the problems related to the usage of “true and fair view” in audit reports today using examples of your own.
  7. 7. Describe the following:
  8. 8. Agency Theory
  9. 9. Creative Accounting
  10. 10. Current Cost Accounting
  11. 11. Exit Price Accounting
  12. 12. Stakeholder Theory
  13. 13. Legitimacy Theory</li></ul> <br />

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