SECTION B Answer any ONE question from Section B. Question 7 Critically discuss both traditional and economic arguments for and against the regulation of accounting. (20 marks) Question 8 Define long and short term employment benefits. Discuss how these are accounted for under international financial reporting standards (IFRS 2 and IAS 19) and the impact of the accounting treatments on the financial statements. Critically assess the key issues in the implementation of these standards. mWorm (20 marks)