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Explain and Discuss How Profit Results May Be Manipulated If

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Essay

Explain and discuss how profit results may be manipulated if the rules allow the separate reporting of operating items and extraordinary items.Explain how accounting standard setters in Australia have responded to a perceived creative approach to extraordinary items in the previous standard.Do you think their response is justified?


Definitions:

Body Odor

A scent produced by the body, often arising from bacteria breaking down protein into acids in places like the armpits.

Excretion

The process by which metabolic waste products are eliminated from an organism to maintain homeostasis.

Immunity

The ability of an organism to resist and fight off infections and diseases through the action of specific antibodies or sensitized white blood cells.

Arterioles

Small blood vessels that extend and branch out from arteries, leading to capillaries; they play a key role in regulating blood pressure.

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