Which concept or qualitative characteristic has been applied in making this decision?

The accountant of Lisbon is considering a number of transactions and events and how they should be treated in accordance with the concepts and qualitative characteristics of financial information as set out in the Conceptual Framework. During the year ended 31 March 20X6, Lisbon experienced the following transactions or events. (i) Sold an asset to a financecompany and leased it back for the remainder of its useful life. The accountant has decided that this should be treated as a secured loan. (ii) The company’s statement of profit or loss prepared using historical costs showed a loss from operating its shops, but the company is aware that the increase in the value of its properties during the period far outweighed the operating loss. (iii) Inventory has up to this year been valued using FIFO but the accountant is considering changing to the weighted average method for the year to 31 March 20X6.

REQUIRED

(A)The accountant is aware that some members of the Board of Lisbon have little understanding of accounting and he is worried about his presentation of the financial statements at the Board meeting. How should he deal with this situation? B)Which concept or qualitative characteristic has influenced the decision in (i) above?C)In looking at issue (ii) above, the accountant decides that the properties should be revalued. Which concept or qualitative characteristic has been applied in making this decision?D)In applying the principle of comparability, how should the change of inventory valuation basis be accounted for

find the cost of your paper

set up and solve a case-study example of the light-intensity distribution in a photochemical reactor.

Photochemical reactor modeling: a case-study problem. Although radiation is important in heat transfer, an analogous model can be used in the design of photochemical reactors. The modeling of these reactors….

Write a critique on this technique of secondary-emission measurement.

Secondary-emission measurement: a case-study problem. An indirect way of measuring of secondary emission from ponds or large bodies of water used in waste treatment is to measure the concentration and….

set up a mass transfer model and evaluate the variation of the local mass transfer coefficient at various locations in the plate.

Chemical vapor deposition (CVD) on an inclined susceptor: a case-study problem. An important application of convective mass transfer theory is in CVD processes employed to coat surfaces with thin films….