Questions from General Accounting

Q: 1. A business organised as a separate legal entity that is

1. A business organised as a separate legal entity that is owned by shareholders is a: (a) Family trust. (b) Company. (c) Sole trader. (d) Legal partnership. 2. The shareholders’ equity section of th...

Q: ‘Complying with the law will always mean that you are acting

‘Complying with the law will always mean that you are acting ethically.’ Discuss this statement.

Q: Are ethics and corporate governance important topics in the study of accounting

Are ethics and corporate governance important topics in the study of accounting and the business environment? Why or why not?

Q: Explain the relationship between the Australian Accounting Standards Board (AASB)

Explain the relationship between the Australian Accounting Standards Board (AASB) and the International Accounting Standards Board (IASB).

Q: Briefly describe how the AASB develops accounting standards.

Briefly describe how the AASB develops accounting standards.

Q: Comment on the approach put forward by The Ethics Centre in deliberations

Comment on the approach put forward by The Ethics Centre in deliberations of an ethical issue.

Q: Describe the structure of corporate governance as put forward by Farrar.

Describe the structure of corporate governance as put forward by Farrar.

Q: How do accounting standards assist large companies?

How do accounting standards assist large companies?

Q: What is an IFRS and how does it impact on standard setting

What is an IFRS and how does it impact on standard setting in Australia?

Q: Identify and discuss five fundamental principles of the Code of Professional Conduct

Identify and discuss five fundamental principles of the Code of Professional Conduct.