Apple heads to lows not seen since Steve Jobs died The last time Apple ran into serious trouble, its founder Steve Jobs was there to save it. But now, the stock is crashing back to levels not seen since the company's visionary leader died.

Shares of Apple (AAPL) continued their vicious slide Friday, falling another $1.52 to close at $390.53, after dropping $10.75 on Thursday. If the decline continues, shares of the stock are less than 4% away from cutting through Apple's $378.25 price on Oct. 5, 2011, the day former CEO Jobs died.

The Apple stock crash is starting to reach a historic order of magnitude, shaking the faith of the individual investors who piled on in large part on Jobs' showmanship. Shares are down 44% from the closing high of $702.10 on Sept.19, 2012. This crash has obliterated more than $291 billion in shareholder wealth, which exceeds the market value of Google and Microsoft individually and is nearly five times the market value of Facebook

1. The fact that the share prices fell following the death of Jobs is consistent with the view that Jobs is an asset (i.e., human capital) to the company. According to the AASB Conceptual Framework, how should this human capital be reported in the financial statements of Apple Inc.?

2 2. Discuss at least two major limitations of a statement of financial position as a source of information for users of general purpose financial statements.