Distinguish between the operating-profit, all-inclusive and comprehensive income approaches to profit measurement.

1.(a) ‘It is clear that the matching concept is no longer pre-eminent in the measurement of

 

profit.’ Discuss.

(b) What criteria would you use to evaluate possible approaches to periodic profit

measurement? Explain. (LO1)

2. Distinguish between the operating-profit, all-inclusive and comprehensive income

approaches to profit measurement. (LO1)

3 What are the arguments for and against the all-inclusive approach to profit measurement?

4 Outline arguments against an operating-profit approach to periodic profit measurement.

5 What approach to profit measurement has the International Accounting Standards Board

adopted? Why? Explain why you agree or disagree with their choice. (LO2)

 

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erive the differential equations in terms of the liquid heights h1 and h2.

  Figure 7.18 shows a liquid-level system in which two tanks have cross-sectional areas A1 and A2, respectively. The volume flow rate into tank 1 is qi. A pump is connected to the bottom….

Derive the differential equation relating the liquid height h and the volume flow rate qi at the inlet.

  Consider the single-tank liquid-level system shown in Figure 7.19, where the volume flow rate into the tank through a pipe is qi. The liquid leaves the tank through an orifice….

Derive the differential equations in terms of the liquid heights h1 and h2.

Figure 7.20 shows a hydraulic system of two interconnected tanks that have the same cross-sectional area of A. A pump is connected to tank 1. Assume that the relationship between the….