Referring to the attached file, provide four examples of accounting policy choices that ANZ Limited may have made in determining profit that may have increased this year's profitIn delineation, an accounting policy is a decision undertaken in advance regarding the manner in which, when and also a decision whether to record and acknowledge an accounting item (Trotman and Gibbins, 2009). It takes into account a specific principle, rule, and approach executed by a firm's management team and is employed in the preparation of financial statements. These accounting policies are employed to copeexplicitly with intricate accounting practices for instance depreciation approaches, recognition of goodwill, grounding of research and development expenses, inventory value and the consolidation of financial accounts (Investopedia, 2016). In particular, these accounting policy choices can be employed to alter the earnings reported by a firm in its financial statements.
One example of an accounting policy choice that ANZ Limited may have made in determining profit, which may have increased the profit generated, is the choice of the depreciation method. There are various methods of computing depreciation that the company can utilize, which include the straight-line method, double-declining balance...
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