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Answer: Case 4-4 Research Methodology Several research methodologies help in developing accounting theory. Accounting theory includes the deductive approach, inductive and pragmatic research as the deductive approach includes the development of theory for identifying objectives. The deductive approach is essential for a mental type of research for accounting theory which includes the capability to correctly identifying and relating the variou...

Answer: Introducion: As per the requirement I would like to express my viewpoints on recording transactions with parties and also state the importance and requirements of such transaction recording. The maintenance of records is important so that the accountants can have an overall understanding of the financial reporting process. The global financial crisis of 2008 showed that the trust in the business can be a major concern for the business...

Answer: Part a Revenue budget 2018 Particulars Amounts Number of units sold 2000 selling price per unit $ 800.00 Total Sales Revenue $ 16,00,000.00 Part b ...

Answer: Introduction: In the current era, the quality of financial information that the business organisations provide to their users of financial statements is of utmost importance for aiding in the decision-making process of the users. In this report, emphasis would be placed on the impairment write-downs in the Australian corporate sector. For simplification of the report, Wesfarmers Limited is selected as the organisation, which is the le...

Answer: Introduction: In the current era, the quality of financial information that the business organisations provide to their users of financial statements is of utmost importance for aiding in the decision-making process of the users. In this report, emphasis would be placed on the impairment write-downs in the Australian corporate sector. For simplification of the report, Wesfarmers Limited is selected as the organisation, which is the le...

Answers: 1. There is a major difference between accrual earnings and cash earnings. Accrual earnings are considered as incomes and other earned revenues during a financial period, but not received until the next of future financial period. On the other hand, cash earnings are considered as the residual profit of a company after subtracting the cash expenses from the case revenues. The calculation of deriving cash earnings does not include any...