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18-08-2018

Product code: Accounts-AW303

Question 3 Accounting Standards

1. Discuss the potential limitations of HGL’s Statement of Cash Flows.

2. Explain why Equity for HGL is affected by the choice of particular asset and liability

measurement practices.

3. What disclosures are required in relation to the reserves of HGL?

4. Discuss how the management of HGL determined which income and expense items were

disclosed in the 2014 Annual Report.

Answer should be between 600-700 words total.

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The potential limitation of the HGL cash flow is that it employs indirect method of cash flow which gives very less information about the outflow and inflow used.

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