ACC2CRE Financial Accounting and Reporting Assignment
ACC2CRE – Financial Accounting and Reporting
Assignment 20% & 700 words
Department of Accounting, Data Analytics, Economics and Finance
Due date: Week 8, Sunday (11.59pm), 30 April 2023
- This assignment is compulsory and is worth 20% of the marks of the subject. There are two questions in this assignment.
- The assignment must be submitted via Turnitin.
- Students must provide their names and ID numbers in cover page of the assignment.
- You must keep a copy of your assignment until you receive the marked original back.
- The assignment must be in MS word format, double-spacing and 12-pt Times New Roman font.
- Submissions must be properly referenced and students are required to use either an APA or Harvard referencing style (see La Trobe library http://latrobe.libguides.com/referencing/ for further details).
- The total word number for Question 1 is 350 and Question 2 is 350. The number of words can be 10% more or less without penalty.
8. Plagiarism is a serious academic misconduct. Students involved in plagiarism will be referred to the University’s appropriate authority.
ACADEMIC INTEGRITY
Academic integrity means being honest in academic work and taking responsibility for learning the conventions of scholarship. La Trobe University views this seriously as evidenced by the following extract:
Academic honesty is a fundamental principle in teaching, learning, research and scholarship. The University requires its academic staff and students to observe the highest ethical standards in all aspects of academic work and it demonstrates its commitment to these values by awarding due credit for honestly conducted scholarly work, and by penalising academic misconduct and all forms of cheating. Academic Integrity Procedures (2012, p. 1 of 6).
Academic misconduct includes improper referencing, plagiarism, copying and cheating. You should familiarise yourself with your responsibilities in relation to Academic Integrity and if you have any questions, direct them to your Course Coordinator. Information can be found on the website at: www.latrobe.edu.au/students/academic-integrity
- Application for an extension must be lodged with Special Consideration Team before due date in writing for granting an extension (medical problems etc.).
SPECIAL CONSIDERATION
Special Consideration is the term used to describe a process that applies an equity measure to ensure that where any temporary adverse circumstances beyond the control of a student, that impact negatively on that student’s ability to demonstrate their learning achievement for an assessment task, is taken into account. Eligibility to apply for Special Consideration does not automatically imply eligibility to receive it. Certain criteria must be satisfied in order to receive Special Consideration. Please refer to the relevant policies, procedures and guidelines website at https://policies.latrobe.edu.au/home Submission of special consideration applications for assignments, should be made online at: http://www.latrobe.edu.au/special-consideration.
Question 1 10 Marks
“The largest obstacle hindering the harmonization of accounting standards is national culture,
especially in developing countries .” (Perumpral et al., 2009, p. 107)
Required:
- Critically evaluate the above statement by stating whether you agree and describe why.
(3 Marks)
- Do you think the International Accounting Standards Board (IASB) should consider culture while developing international financial reporting standards? Justify your answer. (3 Marks)
- Summarise the question 1 in the Conclusion section. (2 Marks)
- Students are required to provide at least four citations in the text, and create bibliography in the end of the answer to Question 1. (1 Mark)
- Overall presentation and writing. (1 Mark)
Reference:
Perumpral, S.E., Evans, M., Agarwal, S., Amenkhienan, F. 2009. The evolution of Indian accounting standards: Its history and current status with regard to International Financial Reporting Standards. Advances in Accounting, Vol. 25, No.1, pp. 106-111.
Question 2 10 Marks
“…the number of stand-alone CSR reports has grown significantly over recent years.” (Cohen and Simnett, 2015, p. 60).
Requirement:
- Critically evaluate the above statement by evaluating why the number of stand-alone CSR reports have grown significantly in recent years. (2 Marks)
- Do you think that firms’ stakeholders should analyse and interpret corporate social responsibility reporting? If so, why? (4 Marks)
- Summarise the question 2 in the Conclusion section (2 Marks).
- Students are required to provide at least four citations in the text, and create bibliography in the end of the answer to Question 2. (1 Mark)
- Overall presentation and writing. (1 Mark)
Reference:
Cohen, J. R., & Simnett, R. 2015. CSR and Assurance Services: A Research Agenda. Auditing: A Journal of Practice & Theory, Vol. 34, No. 1, pp. 59–74.