Q1 relates to accounting - must make sure you explain the current situation in relation to accounting in Australia - AASB, true and fair,
- Conceptual framework( include its all characteristics : Relevance, Reliability, Faithful Representation, understand ability, comparability, consistency, materiality, verifiability, timeliness and cost) (in detail lecture 1),
- comment on measurement and recognition
- - historical cost and fair value - issues etc., such as valuation, measurement (see lecture),
- international accounting - transfer pricing, taxation and then what are solutions, future directions to assist in better reporting.