" Accounting calculations are partly rules based and objective, and partly subjective. " (i) List some examples of subjective calculations that appear in the firm's income statement and statement of financial position. Explain why these are subjective and discuss how financial statement users might be affected by them in costly ways. (ii) Accounting can be used as a political instrument to affect "society" inside the firm. Explain how this can occur and how it is done (you can use actual examples or hypothetical examples that you see as realistic). Examples from your own experience are fine. (iii) Explain an insight that you learned in this subject that you had not previously been aware of and how it will affect the way you think in the context of your future career or personal life. (iv) Is there something that you would point to as a quick way to persuade someone that accounting is not boring. Explain it. Be imaginative/insightful. (v) What are the characteristics that accounting has as a professional activity that makes it more like law and less like engineering? (Five equal parts, 20% each)