Difference between ias and accounting standards

Assignment Help Finance Basics
Reference no: EM132156250

1. Group Presentation due Date and Submission

- Groups will be formed / allocated by week 5.
- Group theme &company selection (if applicable) will be selected by week 6/7.
- Group presentation time will be allocated from week 7.

2. Objective
BAP62 covers a range of important theory and practice of issues in financial reporting. The main purpose of this assessment is to provide students with the opportunity to consolidate and extend their understanding in connection with the important issues in financial reporting in Australia.

Group Presentation Topic:

Students need to select a topic of interest as agreed with your lecturer (Sample topics are listed below).

Each aspect of the recognition, measurement and disclosure criteria from the standards needs to be presented.

Recent financial statements of a listed company from ASX Top 100 or other may be used to demonstrate the application of presented recognition, measurement and disclosure criteria.

Proper referencing to the standards and financial report is needed.Company selection (if required) and topic selection should be done in class in week 6.

Example topics:

(a) Difficulties in establishing a global set of standards
(b) Accounting - Recognition of the impacts the profession has on the broader social and political context
(c) Earnings Manipulation - Comment "To educate a person in mind and morals is to educate a menace to society" (President Theodore Roosevelt)
(d) Is Bitcoin an asset
(e) Accounting for intangibles
(f) Limitations of Accounting standards in relation to "externalities"
(g) Fair Value Accounting v Historical Cost
(h) Disclosures and Sustainability - for the greater good or just an illusion of transparency
(i) Accounting for leases
(j) Accounting for employees benefits
(k) Difference between IAS and accounting standards used in country of choice

Topic for essay writing is - Difference between IAS and accounting standards used in Paksitan.

Essay Requirements and Layout:

The PowerPoint presentation(Analysis) is to be in a format acceptable for a professional presentation. The Analysis should include the following sections as a minimum.
1) Introduction (this should state what the purpose of the report is, what Accounting theme is being explored, which company is being reviewed (if applicable), which standards / criteria are being applied etc.)
2) Literature Review (this is where you include a summary of the literature you reviewed to develop your understanding of the topic and formulate your recommendations)
3) Application of Accounting Criteria relevant for theme selected
4) Analysis (this is the main body and provides your research findings)
5) Summary of Findings (this section highlights the key findings from your analysis)
6) Recommendations (this section summarises YOUR key recommendations and emphasises your JUDGEMENT)
7) Conclusion (this section should reflect upon what you stated in the introduction i.e. what you have done and what you found. The conclusion is about closing the analysis and NOT introducing new material.)
8) Appendices (These are optional and can include any additional findings and materials you believe are relevant)
9) Referencing (Harvard Anglia compliant)
You may find it very useful to make a table using these 9 points as a starting point to review your GROUP's Analysis.

Presentation
You will be assessed during your presentation on the following skills:
The presentation will carry a total score of 20 marks and will be based on how well students demonstrate the following presentation skills:
- Clear communication and engagement with the audience
- Appropriateness and use of visual aids
- Ability to answer questions convincingly

Verified Expert

In the given assignment we were required to compare the accounting standards followed globally with the accounting standards of Pakistan. Also, we were required to discuss the accounting standards and accounting policies followed by the companies incorporated in Pakistan.

Reference no: EM132156250

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Reviews

len2156250

10/31/2018 10:43:11 PM

Reason i am writting you this email is that i want a assignment for issues in financial reporting. You can see the details in attached file. I want the last topic in the file which is a eassy writting Difference between IAS and accounting standards used in Paksitan.

len2156250

10/31/2018 10:42:26 PM

5. SUMMARY Undertaken (Word document 2 page) Summary not included or poorly presented. Clearly presented. Comprehensive summary. /5 6. Individual Contribution Individual Limited or no contribution as peer reviewed and / or noted by lecturer. Appropriate contribution as peer reviewed and / or noted by lecturer. Individual excelled in the team as acknowledged by the peer review and / or noted by lecturer. /5 Total /42 Converted to a mark out of 25 /20

len2156250

10/31/2018 10:42:20 PM

3. ORIGINALITY / CREATIVITY Creation Work poorly presented. Work presented in an original and creative Work presented in a highly creative manner. manner. Demonstrates willingness to be experimental. /10 4. EFFECTIVENESS OF MESSAGE Message Message absent or vague. The message is clearly and effectively delivered, The message is clearly and powerfully delivered. The and captures the attention of the reader/audience is captured by the message. reader/audience.

len2156250

10/31/2018 10:42:10 PM

2. UNDERSTANDING AND CRITICAL REFLECTION Understanding Limited understanding of the assignment topic Sound understanding of the assignment topic Sophisticated understanding of the assignment topic /5 Critical reflection Limited understanding and critical reflection, recommendations were descriptive in nature rather than evaluative. Some understanding and critical reflection, recommendations provide some context to the potential change in approach. Sophisticated understanding and critical reflection, recommendations provides detailed context and analysis on the potential change approach. /5

len2156250

10/31/2018 10:42:04 PM

Part A: Below Expectations Meets Expectations Exceeds Expectations - fail grade – pass to credit grade - distinction to high distinction grade 1. RESEARCH EFFORT Bibliography Less than 10 references. Research narrow or irrelevant. 10 -15 references from wide range of sources More than 15 references from a wide range of sources /2 Assessment task informed by research. Work shows little or no evidence of use of research material. Research material incorporated into work. Good selection and analysis of relevant literature. Research material effectively incorporated into work. Extensive selection and sophisticated analysis of relevant literature. /5

len2156250

10/31/2018 10:41:58 PM

Attention to group cohesiveness: - Introduction of group members and respective talking points - Fluency of presentation (verbal and visual) - Evidence of shared responsibilities - Evidence of a united effort /5 /5 /5 /5 /5 Reference - >15 / 10-15 / < 10 using Harvard Anglia. /3 /3 /3 /3 /3 Total /36 /36 /36 /36 /36 Converted to a mark out of 20 /20 /20 /20 /20 /20

len2156250

10/31/2018 10:41:51 PM

Effective use of visual aids (Excellent / Appropriate / Limited) /3 /3 /3 /3 /3 Effective organisation and time management /5 /5 /5 /5 /5 Summary of Matter (2 page document) – Sophisticated / Comprehensive / Clearly / Limited / Not included) /5 /5 /5 /5 /5

len2156250

10/31/2018 10:41:43 PM

Informed by research - Sophisticated / Comprehensive / Competent / Limited / Nil /5 /5 /5 /5 /5 Effective communication skills (articulate, logical, confident / Competent & Sustained / limited preparation or confidence / No preparation or confidence) /5 /5 /5 /5 /5

len2156250

10/31/2018 10:41:37 PM

Marking Criteria Marks Awarded Marks Awarded Marks Awarded Marks Awarded Marks Awarded Understanding of the material - Sophisticated / Comprehensive / Competent / Limited / Nil /5 /5 /5 /5 /5 Ability to offer critical reflection - Sophisticated / Comprehensive / Competent / Limited / Nil /5 /5 /5 /5 /5

len2156250

10/31/2018 10:41:32 PM

10. Presentation Assessment Criteria You will be assessed during your presentation on the following skills: The presentation will carry a total score of 20 marks and will be based on how well students demonstrate the following presentation skills: • Clear communication and engagement with the audience • Appropriateness and use of visual aids • Ability to answer questions convincingly • Marks will be deducted for exceeding the overall presentation time limit of 3min per person

len2156250

10/31/2018 10:41:26 PM

Reference (5%) >25 relevant references provided > 20 relevant references provided >15 relevant references provided > 10 relevant references provided A minimum of 10 relevant references provided A limited number of general references provided. No references provided Referencing (5%) Appropriate use of Referencing / citations. Correct referencing throughout. Referencing enhances critical judgement Appropriate use of Referencing / citations. Correct referencing throughout Appropriate use of Referencing /citations. Referencing is mainly accurate. Some effort to use Referencing /citations. Referencing is mainly accurate Limited effort to use Referencing / citations. Errors demonstrate a lack of attention to detail Referencing / citations mostly absent / not systemic / incorrect however some effort has been made No referencing or citations used

len2156250

10/31/2018 10:41:19 PM

Response (15%) Presented a sustained, logical and well-structured response applying the Analysis structure points. Presented an extended, logical and structured response applying the Analysis structure points. Presented a logical and structured response applying the Analysis structure points. Presented a logical response utlising some of the Analysis structure points. Presented a logical response utilising some of the Analysis structure points. Presented an underdeveloped response Presented an underdeveloped and incoherent response

len2156250

10/31/2018 10:41:13 PM

Terminology (5%) Integrated and applied specific, accurate and relevant terminology Consistently throughout applied accurate and relevant terminology Mostly applied accurate and relevant terminology Used some relevant and appropriate terminology Limited use of relevant terminology Used little or inaccurate terminology Used no relevant and inaccurate terminology

len2156250

10/31/2018 10:41:08 PM

Analysis (30%) SOPHISTICATED /CRITICAL analysis of each of the recognition, measurement and disclosure criteria. Analysis reflects excellent engagement with the context of the theme selected and links to relevant theory / literature. COMPREHENSIVE discussion of each of the recognition, measurement and disclosure criteria. Analysis reflects very good engagement with the context of the theme selected and links to relevant theory / literature. Provided detailed and reasoned discussion of each of the recognition, measurement and disclosure criteria. Analysis reflects good engagement with the context of the themeselected or relevant theory / literature. Provided some detailed discussion of each of the recognition, measurement and disclosure criteria. Analysis reflects some engagement with the context of the theme selected or relevant theory / literature. Simple discussion of each of the recognition, measurement and disclosure criteria. Analysis reflects limited engagement with the context of the theme selected or relevant theory / literature. Poor Evaluation or analysis.

len2156250

10/31/2018 10:40:53 PM

Judgement (15%) Presented a SOPHISTICATED and CRITICAL judgement with relevant supporting information which identified the judgement as ground-breaking. Presented a COMPREHENSIVE judgement with relevant supporting information. Attempted to present a reasoned judgement with relevant supporting information. Provided some relevant judgement with supporting information. Provided limited judgement with relevant information. Provided some basic information. Did not provide any basic or relevant information.

len2156250

10/31/2018 10:40:47 PM

9. Essay / Analysis Rubric(100 marks reduced to 20) Criteria HD HD Distinction Credit Pass Fail Fail Knowledge (25%) Demonstrated SOPHISTICATED knowledge and understanding. Demonstrated COMPREHENSIVE knowledge and understanding. Demonstrated a DETAILED and REASONED level of knowledge and understanding. Demonstrated SOME level of knowledge and understanding. Demonstrated a LIMITED but RELEVANT level of knowledge and understanding. Demonstrated a GENERAL level of knowledge and understanding. Lacked any real knowledge or understanding.

len2156250

10/31/2018 10:40:33 PM

Your group will be required to select a Group Lead who will be the contact person for the group and lecturer. The Group Lead will also submit the Group Assignment on behalf of everyone in the group. Requirements: Group OralPresentations(36 marks reduced to 20 Marks) From week 5, you will be allocated a group for your Group Presentation. These selected groups will be either self-selected or allocated by lecturer.You will work with the other members and provide a 3 minute per individual presentation in either week 10 or 11 covering your findings and present a conclusion of what went wrong. All members of the group must participate for marking and your presentation scores are individual.

len2156250

10/31/2018 10:40:22 PM

Students are required to complete the assessment in groups of 3-5and do not have an automatic entitlement to adopt some other arrangements without prior permission from the lecturer. Each group need to follow theessay / creative / presentation / analysis assessment criteria refer section (9) & (10) and each member of the group needs to participate in the presentation (if that option is selected). PowerPoint slides (three slides in one page) are to be submitted in the presentation time in class before presentation.

len2156250

10/31/2018 10:40:13 PM

As per the subject description, an essay, creative attempt or in class group presentation constitutes 20% of the total assessment in this subject. Due date is week 10 or 11 in class time (refer above). Groups will be formed / allocated by week 5. Group theme &company selection (if applicable) will be selected by week 6/7. Group presentation time will be allocated from week 7.

len2156250

10/31/2018 10:40:02 PM

Deliverables to be submitted: • Essay 2000-2500 words (Arial 11, Double spacing, 2.5cm margins) • 2 page analysis (Presentation and Creative Groups only) • If presenting presentation slides supporting a 3min per person presentation highlighting your findings • If preparing a creative – creative highlighting the key findings from your review and research

len2156250

10/31/2018 10:39:58 PM

Creative: 10-15 minutes or other arrangement depending on the creative Date Due: Essay due Week 10 Summary of Matter (2 page Word document) Week 10 Creative due in Week 11 Instructions • This is a Group Assignment of 3-5 members (or as agreed with your Lecturer) • Write each of your Student Names and Numbers at the top of this page IN THE BOX PROVIDED • Groups are to choose between an Essay, Presentation OR a Creative option and inform the Lecturer on their choice. • All groups are to submit their ‘Group Assignment Self and Peer Evaluation’ (attached in Moodle). Marks will only be released once these have been received.

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