essay question for accounting theory in Australia
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 )