FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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The Normative Structure for Reporting emphasise the importance of transactions 
that should be reported on the basis of their economic substance and their legal 
form. Explain the advantage of “substance over form” and how the financial 
statements would indicate that the substance of the underlying transaction varies 
from the legal form. 

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