Unit: ACC204 – Advanced Financial Accounting Problems

The following question include two theoretical questions and 4 practical questions, please answer all of them. If needed please use Harvard referencing style. There is no word limit, but it is necessary that you provide answers with explanations. Part A – THEORETICAL QUESTIONS Theoretical Question One (2 marks): Discuss your view of “True and Fair” in financial statement. How would a company director try to ensure that the financial statements are true and fair before signing the directors’ declaration? Theoretical Question Two (2 marks): What is the difference between recoverable amount and fair value? Where revaluations are undertaken, can a …