Reference no: EM132377370
UNIVERSITY OF SUNDERLAND
Sunderland Business School
APC311 International Financial Reporting
Knowledge:
K1. Critical appreciation of the current key issues in international financial reporting
K2. Critical understanding of the conceptual framework as a paradigm for accounting
K3. Critical understanding of the uses and limits of financial information
K4. Critical understanding of financial reports for strategic decision making
Learning outcomes:
The assignment covers all module learning outcomes.
Assignment brief:
In Japan, most firms have adopted IFRS standards with substantial convergence and the number of firms using US GAAP is shrinking, as shown from the article extract titled:
‘Chairman's speech: Japan and IFRS Standards' written 2018, 29 August.
Chairman of the IASB Hans Hoogervorst spoke at an event hosted by the Accounting Standards Board of Japan about adoption of IFRS Standards around the world
Read the article and use it to develop an appreciation of the progress of IFRS in Japan and apply a similar but rigorous critical evaluation of your chosen Country.
For your chosen Country, critically evaluate the progress towards global accounting standards and the model of IFRS adoption. Include a critical evaluation of the benefits and limitations of adopting IFRS in that particular jurisdiction and any other relevant issues that may impact adoption such as international trading, influence of corporate governance, financial markets etc.
Your assignment should aim to provide readers with comprehensive knowledge and critical reviews of these areas covering, for example:
• A knowledge of different accounting treatments in individual accounting standards
• A knowledge of implications of different accounting treatments on usefulness of financial statements
• Your own understandings of, comments on, arguments and contributions to the topic, such as key qualitative characteristics, true and fair view/fair presentation, creative accounting, etc..