Reference no: EM132463308 , Length: 2000 words
Case study report - theory and calculations
Purpose: To allow students to apply the technical knowledge of relevant accounting standards to financial reporting settings. This assessment relates to learning outcomes c. d.
Topic: Research Individual Assignment
Assignment Task Details: Internally generated intangible assets
In their article entitled 'U.S. firms challenged to get "intangibles" on the books', Byrnes and Aubin (2011) noted that in the United States some companies were accounting for intangibles such as brands, patents and information technology differently when they were developed internally rather than being acquired. This could mean major differences in accounting numbers where internally generated intangibles developed at low costs by one company were sold for large amounts to another company.
They noted: The accounting difference could result in distorted behaviour, warns Abraham Briloff, a professor emeritus of accountancy at Baruch College, tempting companies to buy intellectual property rather than doing research themselves.
Required: Write a report on the impacts of AASB138 / IAS38 for internally generated intangible assets. Discuss any differences between accounting for Internally generated intangible assets and acquired intangible assets in AASB138/ IAS38. Discuss why companies may be reluctant to press.
Research requirements: Students need to support their analysis with reference to relevant material from the text and a minimum of eight (8) suitable, reliable, current and academically acceptable sources -this should include at least 2 peer-reviewed academic journal articles.
Presentation: 2000 + 10% word short report format. Title page. executive summary, table of contents, appropriate headings and sub-headings, recommendations/findings/conclusions, in-text referencing and reference list (Harvard - Anglia style).
Marking Guide: Interpretation and representation
Calculations
Analysis
Assumptions
Communication
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