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Assume you are the Chief Financial Officer (CFO) of a public company listed on the Australian Stock Exchange. The Chairman of the board has requested

Assume you are the Chief Financial Officer (CFO) of a public company listed on the Australian Stock Exchange. The Chairman of the board has requested that you write report that compares and contrasts the normative theories of measurement of accounting, current cost, market price and historical cost. In your final report you must evaluate which of these alternatives will provide information that is relevant to the users of the company's financial reports and highlight this through the use of a specific measurement example from a current Australian Accounting standard.

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