Corporate Accounting for Emission Allowance

Assignment Requirements


  1. no need to write Introduction and conclusion
    follow the marking rubric to write the essay
    only need to discuss emission allowance
    Identify relevant accounting issues associated with an emission trading scheme
    and emission allowances

    for this one, just roughly talk about it, state as more as you can,not too many words on this part,no need to relate AASB or someting

    Discuss the nature of emission allowances and provide justification.
    for this part Properly identify the nature of emission allowances and provide comprehensive justification with reference to
    the Framework.(it is an Asset liability income or expense , identify it)
    Discuss when emission allowances should be recognized for accounting purposes and why.
    Discuss how emission allowances should be measured initially and subsequently. Provide journal entries for these transactions.(if it is a asset, it may need to talk about inventory, more detail about it)
    Discuss the consequences of emission allowances on the financial statements,
    including balance sheet, income statement and cash flow statement.


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