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APC+311+Assignment+Questions 1

Uploaded by

s420afrin
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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University of Sunderland in London

Faculty of Business, Law and Tourism

BSc Accounting and Finance


and
BSc Accounting and Financial Management

Module Code: APC311


Module Title: International Financial Reporting

Assignment Deadline: Thursday, 28th November 2024 by 2pm

Learning Outcomes:
Upon successful completion of this module, students will have demonstrated:
Knowledge:
K1: Critical appreciation of the current key issues in international financial reporting
K2: Critical understanding of the conceptual framework as a paradigm for accounting
K3: Critical understanding of the uses and limits of financial information
K4 Critical understanding of financial reports for strategic decision making
Skills
S1: An ability to demonstrate cognitive skills of critical thinking and analysis

The assessment covers all the learning outcomes of the module.

Instructions:
❖ There are parts to the assignment (Sections A and Section B).
❖ Candidates are required to answer questions in both sections of the assessment
brief.
❖ Both sections of the assessment carry equal maximum mark.
❖ Overall word limit of this assignment is 3,000 words (plus or minus 10%).
❖ Candidates are therefore advised to work within approximately 1,500 words in
each section.
❖ Please include your total word count on the front cover of your assignment

Assessment weight: 100% of the module

Please note that this is an individual assignment and the policy of the
University on “Policy on Cheating, Collusion and Plagiarism” applies.
Assignment Brief

Section A
As the corporate world has become rigorously attentive, thorough, and strict in its trade
and financial rules, a lot of countries have already moved from the Generally Accepted
Accounting Principles (GAAP) to International Financial Reporting Standards (IFRS).
Whilst this has solved many problems it has also created other problems.

Using the ‘IFRS as Global Standards: A Pocket Guide-Jurisdiction Profiles’;


OR
IFRS Use around the world- jurisdiction profiles all available @
https://www.ifrs.org/use-around-the-world/use-of-ifrs-standards-by-jurisdiction/

Required:
Critically analyse the implementation and enforcement of IFRS on your country of origin
or of your choice in respect to any or all of:
❖ Globalisation
❖ Regulation and legislation or rules
❖ Cultural factors
❖ Accounting practices
❖ Governance and compliance
❖ Level of economic development
❖ Enforcement of standards

In your review you may consider some of the following areas:


❖ Comparability
❖ Capital markets and market incentive
❖ Impact on stakeholders i.e. investors
❖ Manipulation and cost
(50 marks)
This should be for approximately 1,500 words

Guidance:
You should aim to provide the readers with a critical review of the areas above, but you
should also consider any other pertinent areas you may find relevant in your research,
for example, capital markets access etc and a brief summary of the success of the
country.
Section B
Using the regulatory discussions and relevant international accounting standards (IASs
and IFRSs) which are taught in the module APC311, you are required to provide a
critical evaluation of ‘Creative Accounting’.

Using contemporary examples around the world, in your literature review you may
consider some of the following areas:
❖ Corporate Governance
❖ Ethics
❖ True and fair view
(50 Marks)
This should be approximately 1,500 words.

Your assignment should aim to provide readers with comprehensive knowledge and
critical reviews of these areas suggested above. For example:
• A knowledge of different accounting treatments in individual accounting
standards.
• A knowledge of implications of different accounting treatments on usefulness of
financial statements.
• Your own understandings of, comments on, arguments and contributions to the
topic, such as key qualitative characteristics, true and fair view/fair presentation,
creative accounting, etc.
• Any other important issues which you think should be addressed.
Further details:

This is an individual assignment of around 3,000 words (limited between -10% - +10%).
The word count must be displayed on the Front cover and includes all quotes.

This assignment contributes 100% to the final assessment mark for this course.

Please note that the University policy on cheating collusion and plagiarism will be applied
to this piece of work.

The University requires that students do not submit work for assessment which contains
someone else’s work ideas, observations or conclusions without due acknowledgement.

For the full regulations please refer to:-

https://docushare.sunderland.ac.uk/docushare/dsweb/Get/Document-8019/AQH-
F7b%20Academic%20Misconduct%20Regulations.pdf

Marking Guide:

Marks will be awarded with respect to the following assessment criteria.

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