Question: Assume that you have been contracted by the Australian Accounting Standards Board to develop a proposal regarding whether to issue an accounting standard on accounting for the costs of environmental damage. Draft a proposal or less outlining why you think it is appropriate, or inappropriate, to develop an accounting standard on this issue. Also outline the key issues that would need to be covered by the standard and how the conceptual framework can contribute to resolution of those issues.
Requirements:
Students are required to answer questions in an essay format (introduction, body, conclusion and references).
You are allowed to submit your report many times unit the due date. You don't need to delete previous report; you just need to resubmit it and the previous one will be replaced by the new one.
Textbook - Accounting Theory 7th Edition by Iayne Godfrey, Allan Hodgson, Ann Tarca, Jane Hamilton and Scoot Holmes.
Word/Page Count: 1250
Formatting & Referencing: Harvard.