Critically discuss the role, objectives and limitations of published annual financial statements for companies, and discuss the reasons for, and sources of regulation of the content and format of those financial statements.
Question 1 Guidance:
Your essay should focus on the challenges facing financial accountants when preparing financial statements. Accounting standards that refer to the measurement basis to be used should feature prominently in your work, as should academic and practical evidence to support or challenge the currently recommended approach.
Word count 1,500, excluding abstract, bibliography and appendices.