how to be you? you even surpass einsteins intelligence. you can answer five accounting questions in one minute. Please share your secret.

discuss and explain what accounting benchmark studies are andwhy they are important for an organization's management accountingsystems. If you have participated in benchmarking your firm to yourcompetition, please share your experience and what you learned.

Let’s go full circle and talk about the Expectation Gap again. Do you think that any otherwise intelligent person who is not involved in accounting or audit can possibly understand what either the public or nonpublic audit report is communicating? Does the technical nature of the audit report help or hinder the financial transparency that has been our profession’s goal since SOX? Please write an articulate, thoughtful response to the question above. This response should be 200-250 words in length. PROVIDE SOURCE AND CITE YOUR ANSWER

Question 1: (10 marks – approx 20 minutes)
From a critical perspective, can financial statements ever beconsidered objective or neutral? Explain your answer.
Question 2: (10 marks – approx 20 minutes)
Assume that XYZ Company Ltd decides to undertake an upwardrevaluation of its non-current assets just prior to year end of thefinancial year, the effects being that the total assets of thecompany increases, as does the total shareholders’ equity.
(a) Explain the decision of management to undertake an assetrevaluation in terms of the debt hypothesis of Positive AccountingTheory (5 marks).
(b) Explain the decision of management to undertake an assetrevaluation in terms of the management compensation hypothesis ofPositive Accounting Theory (5 marks).
Question 3: (10 marks – approx 20 minutes)
Identify and explain the perceived benefits that flow from thedecision that a country will adopt the International FinancialReporting Standards (IFRS).
Question 4: (10 marks – approx 20 minutes)
Compare and contrast the development and evaluation of positiveaccounting theories with normative accounting theories.