Part A: What is the history of the TFV? How did it come about, where, and when? What has been this historical purpose of the TFV?
Part B provides you with a choice; you may research or report on either one of the following:
• The extent to which the Australian regulatory environment for financial reporting supports the TFV, or
• Whether the current requirements of the Australian accounting standards to "faithfully represent" the reporting entity's accounts is the same as requiring a true and fair view.