1. Explain the regulatory framework that governsfinancial reportinginAustraliawithemphasisontheConceptual Framework for financialreporting3.Applyaccountingprinciplesandstandardswhenaccounting for non-current assets, revenue and liabilitiesand recognise the judgements required in a range ofdiverse business contexts5. Differentiate between shares and debentures andapply appropriate accountingprocedures
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1. Explain the regulatory framework that governs |
5. Shares are issued to raise capital for the business organization. Authorized shares are the maximum number of shares a company is allowed to issue to shareholders as mentioned in its articles of incorporation. Issued shares are the number of shares a company actually issued to shareholders and unissued shares are the number of shares the company hasn't issued yet. Outstanding shares are the actual shares issued to shareholders from the available number of authorized shares.
A debenture is a type of long-term debt that is unsecured by any collateral. Debentures are issued to raise capital funds for the company from the market.
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