Assignment Requirements

no need to write Introduction and conclusion
2.
follow the marking rubric to write the essay
3.
only need to discuss emission allowance
4.
Identify relevant accounting issues associated with an emission trading scheme
and emission allowances

for this one, just roughly talk about it, state as more as you can,not too many words on this part,no need to relate AASB or someting

5.
Discuss the nature of emission allowances and provide justification.
for this part Properly identify the nature of emission allowances and provide comprehensive justification with reference to
the Framework.(it is an Asset liability income or expense , identify it)
6.
Discuss when emission allowances should be recognized for accounting purposes and why.
7.
Discuss how emission allowances should be measured initially and subsequently. Provide journal entries for these transactions.(if it is a asset, it may need to talk about inventory, more detail about it)
8.
Discuss the consequences of emission allowances on the financial statements,
including balance sheet, income statement and cash flow statement.

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