Reference no: EM131608449

Part -1:

Que1) In the context of the reliability of fair value, it is often perceived that historical cost is justified as an adequately reliable record of past transactions.
Select one:
a. True
b. False.

Que2) According to Hopwood's (1994) work on global accounting's impact on culture and the natural environment, which of the following is true?
Select one:
a. Each person is governed according to the dictates of instrumental liberal structures.
b. The individual is reduced to a governable unit.
c. Populations are managed according to a procedural vision of a common good.
d. All of the above.
e. None of the above.

Que3) Accounting research, predicted on Foucauldian genealogy, has focused on exposing which sources?
Select one:
a. Sources that repress people.
b. Sources that limit people's freedom.
c. Sources that are intolerant of differences.
d. All of the above.
e. A and C.

Que4) What was the aim of state-led policies to reshape the world economy in the last quarter of the 20th century?
Select one:
a. To break up Keynesian institutions.
b. To eradicate capital controls.
c. To liberalise national economies.
d. To open national borders to international capital investment and cross-border capital flows.
e. All of the above.
f. None of the above.

Que5) An argument in favour of a Foucauldian re-orientation of accountability is that it demonstrates the limits of procedural accounting, which then influences the design of modern processes of accounting harmonisation.
Select one:
a. True
b. False.

Que6) Financialisation and the growth of integrated international financial markets that came with it was not spontaneous: it was the product of conscious, state-led, political efforts.
Select one:
a. True
b. False.

Que7) A principles-based system has more generally-stated standards, whereas a rules-based system contains detailed, specific rules that give less scope for individual judgement in their implementation.
Select one:
a. True
b. False.

Que8) Boyer (2007) has used the regulation approach to argue that historical cost accounting facilitated the Fordist regime of accumulation that characterised the post-Second World War era, while fair value accounting plays an integral part in the finance led economic regime that characterises today's economy.
Select one:
a. True
b. False.

Que9) The Financial Stability Forum's membership included which of the following?
Select one:
a. Finance ministers.
b. Central bank governors.
c. Other regulatory authorities from the G7 countries.
d. All of the above.
e. None of the above is correct.

Que10) Stewardship does not necessarily apply only to current shareholders; other stakeholders may also have a right to accounting information.
Select one:
a. True
b. False.

Part -2:

Que1) What was behind the rise of accounting standards to the prominence they have today? Support your argument with reference to international political economy.

Que2) To what extent are efforts towards harmonisation of accounting standards motivated by self-interest? Substantiate your argument with adequate reference to critical sources.

Que3) How can ingrained neo-liberal pathologies be challenged in the way global international accounting is designed and controlled?

Reading:

Arnold, P.J. ‘The political economy of financial harmonization: the East Asian financial crisis and the rise of international accounting standards', Accounting, Organizations and Society 37(6) 2012, pp.361-81.

Lehman, G. ‘A critical perspective on the harmonisation of accounting in a globalising world', Critical Perspectives on Accounting 16(7), 2005, pp.975-92.

Whittington, G. ‘Harmonisation or discord? The critical role of the IASB conceptual framework review', Journal of Accounting and Public Policy 27(6) 2008, pp.495-502.