Within AASB 101 there is a prohibition on disclosing extraordinary items. Provide an assessment of the merits
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Within AASB 101 there is a prohibition on disclosing ‘extraordinary items’. Provide an assessment of the merits of this prohibition.
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Extraordinary items were previously defined in AASB 1018 AASB 1018 was replaced by AASB 101 in 2005 when Australia adopted IFRS as items of revenue an...View the full answer
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