Reference no: EM13845096
The report/essay need to 1500 words and need to have at-least around 15 references.
The Assignment file is the main file where the main question are and it have all the information how to do it and the requirement parts explains everything what need to be done. It has also got marking guide which is very important to follow in page 6.. while doing the work there are also some key factors that are included in page 4..
You need to read the ACCED264 file to get more information to create the report/essay.. The main question is to select 1 shareholder from given option. Then need to answer below question:
a. State whether or not you support each of the following five (5) proposals
b. Give reasons for your position in relation to each proposal
This information are included in the assignment file in page 2!
You can also linkup this theories while answering the Proposals... it will help to gain more marks.. it's not necessary to linkup all the theories.. Just the once which are needed..
Positive Accounting Theory
Legitimacy Theory
Stakeholder Theory
Institutional Theory
Agency Theory
Decision Usefulness Theory
Public Interest Theory
Signalling theory
Normative theory
Requirements:
The ED264 has been released for comment and you are required to act as a respondent, taking on one of the stakeholder perspectives listed below for the purpose of providing detailed response/comments to the questions on page 10 of the ED264 (and are listed below).
Stakeholders
• Company in the Banking Industry
• Company in the Mining Industry
• Company in the Manufacturing Industry
• Lender/Creditor
• Accounting firm/Auditor
• Professional Accounting body
In your response/comments make sure you consider the relevance of the specific technical and theoretical issues, and changes raised in these questions from your nominated perspective. You should also consider how such changes/proposals would benefit and/or disadvantage the stakeholder. You might also like to consider the theoretical implication of accounting informationproduced from the perspective of your nominated stakeholder.From your chosen perspective, you must a. State whether or not you support each of the following five (5) proposalsb. Give reasons for your position in relation to each proposal The specific proposals (from page 10 of ED264) are
1. To give more prominence, within the objective of financial reporting, to the importance of providing information needed to assess management's stewardship of the entity'sresources;
2. To reintroduce an explicit reference to the notion of prudence (described as caution when making judgements under conditions of uncertainty) and to state that prudence isimportant in achieving neutrality;
3. To state explicitly that a faithful representation represents the substance of an economic phenomenon instead of merely representing its legal form;
4. To clarify that measurement uncertainty is one factor that can make financial information less relevant, and that there is a trade-off between the level of measurement uncertainty and other factors that make information relevant; and
5. To continue to identify relevance and faithful representation as the two fundamental qualitative characteristics of useful financial information?