Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Financial Accounting Expert

Research assignment:

The impression one gains from internal discrepancy of many of the arguments on which the justification of conventional accounting, is made to rest is strongly reminiscent of the underlying philosophy of rulers of Oceania in the George Orwell’s 1984. The distinctive characteristic of this philosophy is doublethink. Doublethink signifies the power of holding two contradictory beliefs in one’s mind concurrently and accepting both of them. Two illustrations are ‘Valuations are incorporated in the balance sheets, however the balance sheet is not a valuation document’ and ‘Fixed assets must be carried at cost….in historical cost, unless such cost is no longer meaningful’.

[Chambers, R. (1969) ‘Implications of asset valuations and bonus issues’ in Accounting, Finance and Management, Sydney, Butterworth’s, p.122]

Required:

Describe the above quotation, specifically as it applies to the non-current assets. Do you consider Chamber’s assertion is justified? Illustrate.

Financial Accounting, Accounting

  • Category:- Financial Accounting
  • Reference No.:- M910928

Have any Question? 


Related Questions in Financial Accounting

Assignmentthe kroger company reported the following data in

Assignment The Kroger Company reported the following data in its annual report (in millions).   January 31, 2015 February 1, 2014 February 2, 2013 Net sales $108,465 $98,375 $96,619 Cost of sales (using LIFO) 85,512 78,1 ...

Question 1 an advantage of the corporate form of business

Question 1. An advantage of the corporate form of business is _____. it is simple to establish the corporate tax rate is less than the personal tax rate corporations must pay dividends the shareholders are not responsibl ...

Determine how you would segment the market to conduct

Determine how you would segment the market to conduct research for the health care product or service you found. Explain your rationale. Referring to the same health care product or service, determine the most effective ...

Assignemnta explain the term bank reconciliation and state

Assignemnt (a) Explain the term "bank reconciliation" and state the reasons for its preparation. (b) Ssemakula, a sole trader received his bank statement for the month of June 2001. At that date the bank balance was Sh. ...

1-balance sheet computationsbalance sheet presented below

1-Balance sheet computations. (Balance Sheet) Presented below is the trial balance of Hightower Corporation at December 31, 2017.   Debit Credit Cash 295,000   Sales Revenue   $12,150 Debt Investments (trading) (at cost, ...

Assignmentwill beck ron beck and barb beck formed the bbb

Assignment Will Beck, Ron Beck, and Barb Beck formed the BBB Partnership by making capital contribution of $183,750, $131,250 and $210,000, respectively. They predict annual partnership net income of $225,000 and are con ...

Fasbthe president of conglomerate corporation has

FASB The president of Conglomerate Corporation has instructed you, the Controller, to report quarterly profits within 2% of the projected budget and those figures will be reported to all stakeholders. Use the attachment ...

Assignment1500-1800 words assignment for paula hogpart 1as

Assignment 1500-1800 words assignment for Paula Hog Part 1 As EEC's corporate business financial analyst, you will need to have a clear understanding of the different types of costs (variable, fixed, and mixed) that the ...

Assignment exxon versus chevronaccording to the textbook

Assignment: Exxon versus Chevron According to the textbook, the income statement measures the success of a company's operations for a given period. The income statement is important to investors and creditors, because it ...

Accounting problemsquestion 1question 1aon december 31 2015

Accounting Problems Question 1 QUESTION 1A On December 31, 2015, Raleigh Corp. had the following balances (all balances are normal): Accounts Amount Preferred Stock, ($100 par value, 5% noncumulative, 50,000 shares autho ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen