accounting standards

At present the accounting standards offers choice as how to deal with the recognition and measurement of financial instruments, IAS 39 (AASB 139) and IFRS 9 (AASB 9). While IFRS 9 was initially to apply to annual reporting periods beginning on or after 1 January 2013 it has now been changed to 1 January 2015, although early adoption may still occur. Discuss critically and evaluate why the IASB decided to change IAS 39 (AASB 139) after only five years of operation to IFRS 9 (AASB 9), but is allowing another five years for the change to be compulsorily complied with. Your response should be illustrated and informed by reference to two listed companies one of whom currently uses IAS 39 (AASB 139) and one whom has adopted IFRS 9 (AASB 9) early (ASX or other sources for the most recent years). The discussion should also consider the views of a range of researchers and accounting users and be appropriately referenced from authoritative sources. Criteria for marks out of 100: Introduction Identification of topic, key issues, concepts 20 marks Discussion Structure of argument, quality and use of research 60 marks Conclusion Summary of the above discussion 10 marks Presentation Grammar, language and referencing 10 marks marks 100 Key points: Choose two companies (it may be for year 2011), their annual reports. (source: ASX or via Google search) Read your text chapter and other readings focusing on IASAASB 139 and IFRSAASB 9. Introduce your topic, key issues, concepts and how will you be handling all these issues. Discuss critically the shortcomings and criticisms of IASAASB 139 and why it is replaced with IFRSAASB 9. Structure your arguments by reading accounting research articles. Discuss the impact of financial instrument on financial reports from the views of various users. Apply these arguments by using two companies cases, you may provide some references from their annual reports. Do not forget to provide a good conclusion. A reference list on APA basis (refer to Q Manual). Please note: reference list is not counted in 1000 word limit. Although a correct reference list has some marks. 8-10 quality and relevant research references would be a good estimation. A sample list for few selected research articles is provided for your help Anagnostopoulos, Y. & Buckland, R. (2011). IAS 39 and measurement quality: bankers perceptions , Journal of Applied Accounting Research, Vol. 12, 2, 157-178. Allen, Ivl. (2004). IAS 39: Problems and Solutions, Euromoney, Ivlay 2004, Vol. 35, 421, pp. 72-81. Cuzman, R. Dima, B and Dirna, S. (2010). IFRS s for Financial Instruments, Quality of Information and Capital Ivlarket s Volatility: An Empirical Assessment for Eurozone, Vol. 9, 2, 284-304. Hassan, A. (2011). Understanding the differences between FRS 139 and IFRS 9, Accountants Today, pp. 26,28. Linsmeier, T. (2011). Financial Reporting and Financial Crises: The Case for Ivleasuring Financial Instruments at Fair Value in the Financial Statements, Accounting Horizons; Vol 25, 2,409-417,

 

CRAZY OFFER!!! ASSIGNMENTS COMPLETED FOR FREE!!

GET THIS ASSIGNMENT DONE FOR FREE NOW, JUST PLACE YOUR ORDER AND DO NOT MAKE ANY PAYMENT: WE WILL COMPLETE THE PAPER FIRST BEFORE YOU PAY AND YOU PAY ONLY AFTER YOU RECEIVE AND APPROVE YOUR COMPLETED PAPER! IF YOU ARE NOT IMPRESSED, WE WILL NOT ASK ANYTHING FROM YOU! WHAT ELSE WE WILL DELIVER IT WITHIN YOUR SPECIFIED TIME FROM 3 HOURS TO 10 DAYS DEADLINE.

 

THIS IS ONLY A LIMITED OFFER! TAKE ADVANTAGE!!

Leave a Reply