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Assignment Questions
The assignment question consists of two (2) compulsory parts. You need to write a research report.
Part AUsing peer-reviewed research papers argue and conclude if it is appropriate to have a single, global set of accounting standards as well as one conceptual framework that has global acceptability? (750 Words)
Part B
The International financial reporting standards (IFRS) encourage ASX listed companies to use fair value accounting (FVA) replacing the historical cost accounting (HCA) for valuing non-current assets. Use peer reviewed academic research to decide if FVA (claiming to have more value relevance) should totally replace HCA. (750 Words)
Objectives
The purpose of this assignment is for students to:
1. Demonstrate an understanding of accounting standards and be aware of the authoritative influences that underpin accounting and reporting in the international and Australian regulatory environment; and
2. Explain the issues surrounding contemporary accounting controversies, in this case on fair value accounting in diverse contexts using social, ethical, economic, regulatory and global perspectives.
Verified Expert
This paper reflects on the understanding of the accounting standards in the International and Australian Regulatory environment. The first section discusses on whether there should be a single global set of accounting standards to improve global acceptability or not. The second topic discusses on comparing the historical cost accounting versus fair value accounting for valuing non-current assets. There are pros and cons provided for both the accounting methods. This paper is written in Microsoft Word File Document.
>>A conclusion of no more than 100 words that does not introduce any new argument but succinctly summarises the arguments in the main body of your report and draws and appropriate conclusion (1+1 = 2 marks) >>Adequate use of appropriate resources and correct acknowledgment of the source of support for arguments. 2 marks >>Overall expression (including punctuation and grammar) and presentation. 2 marks
The 20 marks for this assignment will be allocated as follows: >>A clearly defined introduction to the research (no more than 100 words) that specifies the focus of your assignment and provides a clear outline of the issues you will be discussing in the report. (1+1 = 2 marks) >>A main body to the report that logically develops arguments that follow the plan outlined in the introduction and introduces appropriate support for your arguments – A total of 12 marks will be allocated (based on assessment of the logic and clarity of the argument and the extent to which the research questions are adequately addressed). The total number of marks allocated to this part of your assignment will consist of • 6 marks for Part A of the Assignment Question • 6 marks for Part B of the Assignment Question
Report Format (Introduction, Body – Arguments for and against & Conclusion) Use 11 or 12 front, with 1.5 line spacing Comprise no more than 1,500 words (excluding tables, reference list and appendices) Individual assignment Use APA referencing style (Both for in-text referencing and referencing list) Note in this assignment, students are expected to use at least Eight (8) peer reviewed good quality articles. This means, that although the prescribed text and readings are appropriate references, there should be evidence that you have accessed at least the above number of articles that are useful in developing the arguments in your research report. Apart from above peer reviewed articles, you can also used books, selected online resources (i.e. working paper databases, conference websites, official pronouncements of accounting bodies, standards setters, government agencies, public bodies or accounting firms). Inappropriate online resources which should not be used include Wikipedia, blogs, and websites from “non-official” sources.
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