AYB311 Lecture Notes - Book Value, Physical Capital, Historical Cost
Document Summary
Lecture 7 debt, equity and off balance sheet issues. Note: with tutorial homework this week, the last question about profit is a previous exam question. This should give an idea of a potential exam style questions: the final revision lecture will go over the types of questions provided in the final exam, the marks allocated and the approach to take when answering it. When doing the case study for this week only consider the issue from an accounting perspective not from a land rights, environmentalist etc approach: refer to the new upload of lecture slides on bb is unsure. Aasb 137 defines a liability as: a present obligation of the entity arising from past events, the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits. More difficult than assets there are more areas of contention and it is less well defined. Key characteristics: existence of present obligation.
