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5 Question 5.1 'Accounting is merely a technical exercise and all accountants need to do is follow the rules'. Drawing on your understanding of accounting,
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Question 5.1 'Accounting is merely a technical exercise and all accountants need to do is follow the rules'. Drawing on your understanding of accounting, discuss whether this statement is correct. Question 5.2 Complexities in the business environment bring creativity in accounting and accountants exploit loopholes. Can you suggest ways to control 'creativity' by accountants? Question 5.3 For the financial year 2021, Silverline reported, revenues from ordinary activities up by 75% . earnings before depreciation, amortisation, tax and interest improved by 30% . net loss for the period improved by 28% over the previous year's loss. After the annual report was released, the company's share price fell by one-third. The directors could not offer a business reason for the fall. Can you suggest reason(s) for the fall? Explain your reasoningStep by Step Solution
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