Question: Q:1 For recording liability, the IASB Framework lists a number of different measurement bases which are employed in different degrees and in varying combinations in

Q:1 For recording liability, the IASB Framework lists a number of different measurement bases which are employed in different degrees and in varying combinations in financial statements. Discuss these bases with examples.?

Q: 2 The sources of company finances may be various and complicated. Equity capital is the main source of company finances, what are the different types of share capital?

Q:3 Explain why the going concern basis is important?

Q: 4 Balance sheet can be prepared in vertical, net asset and horizontal format. What is the difference between these formats?

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1. Identify your reference point when making a decision based on an element of risk.

3. If there are reasonable alternatives, think about your decisions based on the different reference points and see if there are any contradictions in the decisions.

4. It is only at this point that you can give the problem your full attention in relation to the various ways you have framed the problem.