Nature Versus Function of Expense Presentation

question 35

Essay

Nature versus function of expense presentation
IFRS requires a business to present an analysis of expenses based on either "nature" or "function." Explain what this means.

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Definitions:

Self-Actualization

The realization or fulfillment of one's talents and potentialities, considered as a drive or need present in everyone.

Esteem

Esteem refers to the respect and admiration that an individual is held in by others or regards themselves with.

Safety

The condition of being protected from or unlikely to cause danger, risk, or injury.

Positive Reinforcement

A method of increasing the likelihood of a desired behavior by offering a reward or favorable outcome following that behavior.