The accounting used and provides a framework for predicting accounting choices.

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The accounting used and provides a framework for predicting accounting choices.

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This assignment is to be conducted individually. The assessment carries 20% of the total assessment for this subject. The assignment is due week 6. You are required to submit a soft-copy to Safeassign and a hard-copy. Word limit: Whilst there is not a maximum limit, the minimum is 1500 words. Assignment requirements. Refers to the assigned article ‘Explain why accounting used and provides a framework for predicting accounting choices’. Websites: AASB (website of Australian Accounting Standards Board) IASB (website of International Accounting Standards Board) FASB (website of US-based Financial Accounting Standards Board ICAA (Institute of Chartered Accountants in Australia) CPAA (Certified Practising Accountants Australia) It is also recommended that you utilise Proquest and Google Scholar as well as Financial review, the Age and BRW (Business Review Weekly) Marks will be given on the soundness of your argument, research conducted, quality of report (presentation, referencing) and the understanding of the issues. Each report will be assessed individually. Report structure: should consist of summary, introduction, points of discussion and conclusion. Where you feel a number of theories are applicable and that is quite likely, ensure they are clearly identified. Please ensure you require to submit hard copy of your assignment as well.

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Accounting is considered as an integral part of the organization as it provides the systematic record of the funds held by the firm in the form of assets and liabilities and income and expenditure incurred by the firm in a particular time period. It helps managers to take effective and efficient decisions with regard to different functions of the organization so as to achieve the common goal of the business in an effective manner. Earlier, accounting is not considered important for the business as does not have any significant impact the value of the firm, but government has established different accounting standards which has promoted and made accounting as a separate domain. Nowadays, majority of the decisions by different parties associated with the organization are taken by considering the financial statements of the firm which are created with the help of accounting standards, policies and procedures. This report mainly focuses on the use of accounting as a framework for prediction of the accounting choices (Carey, Knowles and Clark 2011).

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