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Funding a business
Limitation on retrospective restatement
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[QUOTE="Yakub02, post: 307590, member: 94426"] Changes to accounting policies or accounting estimates: for example, an entity can revalue assets (change from the cost model to the revaluation model) to improve gearing or change the way in which it depreciates assets to improve profits. Capitalising expenses: recognising ‘assets’ which do not meet the definition in the IASB Conceptual Framework or the recognition criteria. Examples include: human resources, advertising expenditure and internally generated brand names. Profit smoothing: manipulating reported profits by recognising (usually) artificial assets or liabilities and releasing them to profit or loss as required. Aggressive earnings management: artificially improving earnings and profits by recognising sales revenue before it has been earned [/QUOTE]
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