Financial Accounting 331 Using Conceptual Framework For Financial Reporting Especially On Faithful Representation

Question Description

Accounting 331– Writing Assignment


In our study of the Conceptual Framework for Financial Reporting (Chapter 2), we noted that Faithful Representation was one of the key qualitative characteristics.

In your report,

  • Explain the importance of this characteristic,
  • List the elements that make up Faithful Representation and explain their relevance to today’s accounting environment within a business’ operations.
  • Explain how it relates to the overall objective of the Conceptual Framework for financial reporting
  • With respect to the Enron fraud, give one example where this characteristic was violated.

Format: The assignment length should be 2 to 3 pages, excluding cover page and references, with double spacing.

Please use the following page formatting for the assignment:

  • One-inch margins
  • Double-spacing
  • Size 12 Times New Roman font

Your write up should have the following sections:

  • Cover Page
  • Executive summary (a one or two paragraph condensed description of the issue and your suggested solution)
  • Analysis:
  • Conclusion
  • References (can also be included in the footnotes).
  • Name
  • Class title and section number
  • Due date
  • Description of the issue (facts)
  • Analysis of facts
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