The directors of an Australian company, Homeland Ltd$,$ have formed a view that compliance with a particular AASB standard will mean the company$$s financial statements will not provide a true and fair view, which is contrary to the Corporations Act.

Required

Advise the directors how this problem can be resolved when preparing the company$$s financial statements in accordance with AASB $101/$IAS $1.($LO$1$ and LO$5)$