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    What is the history of the TFV? How did it come about, where, and when? What has been this historical purpose of the TFV?

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    At the very core of financial reporting lies the concept of the True and Fair View (TFV). In many countries the requirement for financial statements to reflect the true and fair view of the entity has been codified in national legislation (such as Australia's Corporations Act), given prominence in financial accounting standards and the accompanying conceptual framework. Nevertheless, the TFV is not really given prominence in accounting practice or accounting education. It seems to be just one of those things that is accepted and is not worthy of further discussion. Consider, for example...

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    This is an individual assignment divided into the two part, both the part of this report highlights the importance of true and fair views, the first part of this assignment, discussed about the historical background of the true and fair view and second part the express, how far the exiting regulation and governing principles. In Australia, has achieved the goal and objective of true and faire views. The concept creates wide impact over the users of general-purpose financial statement and annual report.  There are wide

    This report aimed to develop a critical understating of the various accounting software by evaluating the cloud-based accounting software in regards to businesses and then suggest the most appropriate accounting software to a chosen company such as Woolworth. The findings of the current report reflected that the company has key activities like manage, organize, maintain its store staff, develop various strategies for the business, billing for their products, maintain their transactions, and records them and handle their conflicts, etc. Similarly, its other activities related to revenue and expenditure cycle also includes sales and purchase related practices. Moreover, some internal controls are found weak in Woolworth due to which company has risks like segregation of duties, major frauds, poor corporate governance, improper monitoring of managerial opportunistic behavior.

    This report aimed to develop a critical understating of the various accounting software by evaluating the cloud-based accounting software in regards to businesses and then suggest the most appropriate accounting software to a chosen company such as Woolworth. The findings of the current report reflected that the company has key activities like manage, organize, maintain its store staff, develop various strategies for the business, billing for their products, maintain their transactions, and records them and handle their conflicts, etc. Similarly, its other activities related to revenue and expenditure cycle also includes sales and purchase related practices. Moreover, some internal controls are found weak in Woolworth due to which company has risks like segregation of duties, major frauds, poor corporate governance, improper monitoring of managerial opportunistic behavior.

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