[SOLVED] Accounting Theory

Author: Client Uploads

July 17th, 2022

Instructions: (1500 to 2000 words)? This assignment consists of two question. The due date and time is noted above.Question OneWhat is regulation? How is accounting profession in Australia regulated?(Marks :10)Question TwoRefer to accounting standard AASB116 Property Plant & Equipment (website aasb.gov.au)Explain (in your own words) the main requirements of the standard that Australian companies have to abide by. This should cover objective of the standard, its scope & definition, recognition criteria, measurement criteria, derecognition & disclosure requirements with reference to For profit entities only.Please make references to clause or sub clause numbers to support your answers.(Marks :30)

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