ACT505 Accounting Precept, Semester 1, 2021
Marks – Weight 20%
Due Date: Sunday 18th April Midnight (week 6)
➢ This undertaking consists of two question. The due date and time is legendary above.
➢ It is your accountability to be sure to take into consideration any time distinction between Darwin and totally different locations when submitting your undertaking.
➢ Please add your file using the submission stage for the undertaking on Learnline.
➢ Assignments submitted by the use of e-mail will NOT be accepted.
➢ There isn’t any such factor as a need to end a school cowl sheet nonetheless DO please embrace your title, Pupil Amount, and your tutor’s title.
➢ This is not a gaggle undertaking; it is an individual analysis. Your options will probably be utterly totally different from totally different school college students. If components of your undertaking are copied or very close to copying, all occasions will in all probability be penalised for copying. Copying might be thought-about plagiarism and CDU has restrict insurance coverage insurance policies on this regard (please see https://www.cdu.edu.au/academic-integrity for particulars).
What’s regulation? How is accounting profession in Australia regulated?
Verify with accounting regular AASB116 – Property Plant & Instruments (website aasb.gov.au)
Make clear (in your particular person phrases) the precept requirements of the standard that Australian corporations should abide by. This might cowl objective of the standard, its scope & definition, recognition requirements, measurement requirements, derecognition & disclosure requirements – almost about ‘’For income” entities solely. Clarify (in your particular person phrases) the primary stipulations of the standard that Australian organizations need to protect. This might cowl objective of the norm, its extension & definition, acknowledgment necessities, estimation tips, derecognition & divulgence necessities – regarding ”For revenue” elements as a result of it had been.
Please make references to clause or sub clause numbers to assist your options.