Demonstrate an understanding of accounting standards

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Reference no: EM131927690

Assignment Questions

The assignment question consists of two (2) compulsory parts. You need to write a research report.

Part A

Using 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.

Format & Guideline

- 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.

Verified Expert

In the current assignment, we have conducted a research on two topics with the help of peer-reviewed articles, which are as follows: the importance of having a single set of accounting standard and the conceptual framework that has universal acceptability. The second topic included the advantage of adopting FVA method of accounting over HCA method for valuing the noncurrent assets.

Reference no: EM131927690

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Reviews

len1927690

4/4/2018 4:46:55 AM

>>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

len1927690

4/4/2018 4:46:47 AM

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 (6+6 = 12 marks)

len1927690

4/4/2018 4:38:58 AM

An assessment item submitted after the due date, without an approved extension, will be penalised at a rate of 10% of the possible maximum mark for the assessment item for each day that the item is late. Saturdays and Sundays are individually considered a day each in determining the penalty. Assessment items submitted more than five days after the due date will be awarded zero marks.

len1927690

4/4/2018 4:38:37 AM

Due date: Week 6, Semester 1 [22nd – 5pm (AEST)] Length: 1500 words Weight: 20% of the total mark The final submission must include the following: 1) Hard copies of written assignment with an assignment cover sheet attached (refer to the link on Blackboard - General Policy and Forms) 2) Turnitin Electronic copy of assignment with cover sheet submission via Turnitin Note: Every assignment will be checked for plagiarism using Turnitin and/or other means. Any final report that is suspected of plagiarism will be submitted to SACO (Student Academic Conduct Officer) for further investigation.

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