UU Telhed on 30 September 2021 at a premium, thus yielding an effect of 10% per annum. Required: (a) Prepare the statement of profit or loss and other comprehensive income for M ended 30 September 2019. (b) Prepare the statement of financial position for Moby as at 30 September 2019. Note: A statement of changes in equity and notes to the financial statements are not requ Total 20 marks Question 2 (a) The Conceptual Framework for Financial Reporting identifies faithful representati qualitative characteristic of useful financial information. Required: Distinguish between fundamental and enhancing qualitative characteristics and representation is important. (5 marks) b) IFRSs are developed through a formal system of due process and broad internatio involving accountants, financial analysts and other users and regulatory bodies from The overall agenda of the IASB will initially be set by discussion with the IFRS Ad Required Describe the steps involved in the due process for developing an individual sta ave beei heen recently appointed as the technical manager of Smart Consultan UU Telhed on 30 September 2021 at a premium, thus yielding an effect of 10% per annum. Required: (a) Prepare the statement of profit or loss and other comprehensive income for M ended 30 September 2019. (b) Prepare the statement of financial position for Moby as at 30 September 2019. Note: A statement of changes in equity and notes to the financial statements are not requ Total 20 marks Question 2 (a) The Conceptual Framework for Financial Reporting identifies faithful representati qualitative characteristic of useful financial information. Required: Distinguish between fundamental and enhancing qualitative characteristics and representation is important. (5 marks) b) IFRSs are developed through a formal system of due process and broad internatio involving accountants, financial analysts and other users and regulatory bodies from The overall agenda of the IASB will initially be set by discussion with the IFRS Ad Required Describe the steps involved in the due process for developing an individual sta ave beei heen recently appointed as the technical manager of Smart Consultan