Student: Business and Milton Friedman Essay example

2921 Words Sep 5th, 2013 12 Pages
Accounting for managers BSMAN3009
ASSESSMENT 1: Report

Lecturer:
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Table of contents I. Executive summary…………………………………………….

II. Introduction…………………………………………………….

III. From a perspective accounting, what are the “rules of game” that businesses must follow?.........................................

1. Company legislation………………………………………... 2. Accounting standard……………………………………….. 3. Stock exchange………………………………………………

IV. In the current environment, is Milton Friedman’s statement as relevant in 2013 as it may have been in 1970?.....................

V. Conclusion………………………………………………………

VI. Reference………………………………………………………..

I. Executive summary

This is a
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(Source from Australia Accounting Standard Board 2013)

Property, Plant and Equipment
This compiled Standard applies to annual reporting periods beginning on or after 1 January 2013 but before 1 July 2013. It takes into account amendments up to and including 10 September 2012 and was prepared on 10 May 2013 by the staff of the Australian Accounting Standards Board (AASB).
The objective of this Standard is to prescribe the accounting treatment for property, plant and equipment so that users of the financial statements can discern information about an entity’s investment in its property, plant and equipment and the changes in such investment. The principal issues in accounting for property, plant and equipment are the recognition of the assets, the determination of their carrying amounts and the depreciation charges and impairment losses to be recognised in relation to them.
(Source from Australia Accounting Standard 2013) 3. Stock exchange
A stock exchange is a form of exchange which provides services for stock brokers and traders to trade stocks, bonds, and other securities.Companies, which are listed on a stock exchange market must comply with the stockexchange financial disclosure requirement. These companies need to follow the rules and

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