QUESTION 1 Course Learning Outcome (CLO) 1: Critically evaluate contemporary issues, theories and empirical research evidence in financial and management accounting, including strengths and limitations. International Financial Reporting Standards (IFRS) and General Accepted Accounting Principles (GAAP) have disagreement in the treatments to some of accounts in financial statements. Based on the above statement, discuss the disagreement in the accounting treatment or standards utilized by Exxon Mobil and Royal Dutch Shell (Shell). [Total: 25 marks] QUESTION 2 Course Learning Outcome (CLO) 2: Explain the implications and relevance of the current knowledge boundaries in accounting theory. Discuss FOUR (4) areas where Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) standards differ with Malaysian Accounting Standard Boards (MASB) standards. [Total: 25 marks]