Subject Code : ACCG3008
Assignment Task:

Description of the task:

An essay style report about corporate accounting that must be your own individual work. You must include appropriate in-text references in the APA style and at the end of the essay a reference list with hyperlinks. 

Format and word limit: You must upload the report to ilearn in a Microsoft Word or PDF file of no more than 1,000 words. Do not use a cover sheet but put your name and student ID on top of the first page. You must upload as ONE file only. You must not embed scanned material. DO NOT submit a different format – e.g. Apple Pages, compressed zip file, etc. It messes up the turn-it-in process which then means I need to contact you and waste your time and my time. 

The word limit does not include your reference list, but you must not use appendices for additional material that ‘did not fit in your word length.’ 

You must use Arial 12 point font with 1.15 line spacing and MS Word ‘Normal’ margins. 

A penalty of 10 percent of your marks applies for any failure to comply with the format and word limit rules. 

The topic of the essay:

During the Global Financial Crisis of 2008/9, it was claimed that IFRS fair value accounting techniques used in corporate reports had distorted financial reality and caused the crisis. 

(a) Describe those alleged problematic fair value accounting techniques and standards, and state if you agree with the criticisms and why (10 marks).

(b) In the period 2009-2020 do you think IFRS fair value standards have improved? State your reasons and evidence (10 marks).

(c) In the event of a major economic downturn in 2020 or later do you think assets will be appropriately measured by IFRS fair value accounting standards? Explain (10 marks). 

General requirements Label each section clearly. In each section, get straight to the point of the argument and do not waste space with ‘general background information’ etc. 

Note: ACCG3008 students may not be experts on fair value accounting, but there is so much material on this subject available on the internet at all levels, novice bystander explanations through to advanced professional, that you will have no trouble to understand the main issues. 

 

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  • Uploaded By : Alex Cerry
  • Posted on : June 17th, 2019

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