essay question for accounting theory in Australia essay question for accounting theory in Australia Assignment InstructionsIn groups of two, prepare answers to these two case studies: 1. What is the basis of the "market for lemons" argument" ? 2.would managers who have negotiated debt contracts with accounting based covenants based around "rolling GAAP" be relatively more likely to lobby an accounting standard-setter about a proposed accounting standard than would a manager from a firm who has negotiated accounting based debt covenants that use "frozen GAAP "?why? , and adopting a positive accounting theory perspective,consider the following issues : a. If a new accounting standard impacts on profits, should this impact on the value of the firm,and if so,why? b. will the imposition of a particular accounting method have implications for the efficiency of the organisation? Required:Critically analyse and evaluate the arguments for, and against, for each of the case studies.Which arguments do you consider to be more compelling? (In other words, what is youropinion? note : have to use harvard style reference generator ( 750 words each question )
