PLEASE ANSWER BOTH QUESTIONS FOR THUMBS UP. DONT BOTHER ANSWERING IF YOU CANT DO BOTH

Question 1

(NZ company means ANY Newzealand company. Please follow the requirement)

Question 2

Choose one NZ company and demonstrate with specific examples how it meets the qualitative characteristics given in the NZ framework (discuss any four qualitative characteristics). (8 Marks) 3-2 Look at the information below and explain how each of the following accounting conventions were applied to preparation of ABC's Income Statement. Accruals basis convention (2.5 marks) Accounting period convention (1 marks) Matching convention (2.5 marks) Monetary convention (1 marks) . . . . ABC Income Statement For the vear ended 31 March, 2017 Amount ($ Amount ($ Particulars Financial advice fees revenue (Cash and Credit Less: Operating expenses 250,000 Secretarv's Sala Office and general expenses Depreciation on assets 60,000 20,000 4,000 Total operating expenses Operating profit before tax 84,000 166,000