The Mori Worldview and Financial Accounting

• Part (a): Compare and contrast the Mori concept of taonga (or treasured possession) to an asset as defined in the New Zealand Equivalent to the IASB Conceptual Framework for Financial Reporting (NZ Conceptual Framework). 6 marks

• Part (b): How might financial reporting for businesses differ from current practice if GAAP in New Zealand included the Mori worldview, e.g. concepts such as taonga and kaitiakitanga (or guardianship)? 6 marks