'The preparation of financial statements requires a great deal of professional judgement, and this has direct implications for what appears within the financial statements.' Required: 

a) Using academic literature sources and your own knowledge of this unit, explain what the above statement means. 

b) Provide appropriate examples to support your answer in (a) by selecting and discussing any two (2) distinct line items and/or disclosures that require the application of professional judgment in your chosen company's latest Statement of Profit and Loss and Other Comprehensive Income. (Include screenshots of selected disclosures in your answer.) 

c) Select and interpret any one (1) disclosure from your chosen company's most recent Statement of Financial Position that sheds light on the company's capital structure. Explain how the information in the selected disclosure provides insights into the composition of the company's financing, and support your explanation with appropriate screenshots of the selected disclosure. 

d) Discuss ways reporting entities can enhance the reliability of their financial statements despite existence of value judgements in financial reporting.