Discuss the identification and composition of incomes of the chosen company. Introduce the recognition and measurement requirements of incomes used by the chosen company with supported documents. (500 words)
Explain what is GAAP and why GAAP is crucial for financial reporting and business practices in general. (500 words)
Provide one example to illustrate the implementation of GAAP in the annual report of your chosen company, and explain with supporting references.
(500 words) Give one example when GAAP isnt used by your chosen company and explain how this will impact on the financial position, performance and valuation of the company from the perspective of investors. (500 words)