University : Holmes institute Melbourne UniLearnO is not sponsored or endorsed by this college or university.
Subject Code : HI6025
Country : Australia
HI6025: Accounting Theory and Current Issues Assessment Answer
Assessment Task:

Assignment Specifications

Purpose:
This assignment aims at developing student’s ability to critically examine the usefulness of the financial reporting regulations to Australian reporting entities, namely the Conceptual Framework and the adoption of IFRSs. Students are also required to research on another country that has adopted IFRSs in the past 5 years. They will have to do research on relevant literature and demonstrate understanding and critical evaluation of key issues of adopting IFRSs such as the transitional issues, challenges and benefits, and recommend future directions to the national accounting setting bodies.

Required Task: In the body of the assignment, students will have to critically discuss the following issues:

1. The relevance of the Conceptual Framework of financial reporting. How useful is it with examples to illustrate your arguments.

2. Compare and contrast the implementation of IFRSs in Australia and one other country of your choice. The second country must have adopted IFRSs for at least 5 years. For each of the two countries, discuss the following:

i. reasons for the national accounting body adopting IFRSs and when it was adopted;
ii. transitional issues faced (within a year or two), with examples;
iii. what challenges were faced by reporting entities upon adopting IFRSs. (Do not discuss transitional issues here). Include specific examples of accounting standard(s) and discuss the issues that made them challenging/difficult to adopt, to support your arguments;
iv. what were the benefits of adopting IFRSs by reporting entities;
v. the similarities and differences in the adoption of IFRSs faced by Australia and the other country you have chosen. Include what factors had caused the differences you found.

3. Based on your findings, do you think the adoption of IFRSs were successful in the two countries? Explain your answer.

4. Provide two recommendations to the national accounting setting bodies (incl. AASB) on ways to ensure the IFRSs continue to be relevant to users’ needs and to all sectors of the economy.

 

This HI6025: Accounting and Finance Assesment has been solved by our Accounting experts at UniLearnO. Our Assignment Writing Experts are efficient to provide a fresh solution to this question. We are serving more than 10000+ Students in Australia, UK & US by helping them to score HD in their academics. Our Experts are well trained to follow all marking rubrics & referencing style.

Be it a used or new solution, the quality of the work submitted by our assignment experts remains unhampered. You may continue to expect the same or even better quality with the used and new assignment solution files respectively. There’s one thing to be noticed that you could choose one between the two and acquire an HD either way. You could choose a new assignment solution file to get yourself an exclusive, plagiarism (with free Turnitin file), expert quality assignment or order an old solution file that was considered worthy of the highest distinction.
 

 

 

  • Uploaded By : Noah
  • Posted on : September 12th, 2018
  • Downloads : 397

Whatsapp Tap to ChatGet instant assistance