Expert answer:FINAL CONTRACT ANALYSIS

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exercise
1. Name the four branches of accounting. Compare two with significant
functions and, assuming you had decided to become an accountant,
state which of the two disciplines you would prefer to follow and why.
2. The Framework Document and other sources identify specific potential
user groups for sets of business’s accounts and recognise that each
group has different information needs. To what extent do you think it
is possible to produce a single set of financial statements which
satisfies the different information needs of all these groups?
As part of your answer, indicate how you think the owner and director of a
business might value its assets (equipment, premises, etc) differently to the
bank that has lent the business a large amount of money
…
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