Question1
A) International financial reporting standards set out the
requirements and recognition criteria for what is included within the statement
of financial position, and the statement of profit and loss and other
comprehensive income. Through an analysis and application of international
financial reporting standards, critically discuss two examples of transactions
and events that are excluded within your organisation’s financial statements.
B)For those items that are not included, reflect on ways in
which you and your organisation can engage with, and profit from Quattrone’s
(2015) approach to decision-making for the unknown.
The company that we will focus on works within the IT sector; developing B2B solutions across the fintich, proptech, and logistics domains. You may select the 2 items/ transactions that are excluded from the financial statement by yourself that will help you to write about them critiquely.
with regards to question B, you need to refer to the article attached (quattrone) to answer this question by reflecting to the decision- making for the unkown through designed governance framework (example attached with the file named framework for decision making for the unkown- BAF slide 6).
