Assessment item 2
Assignment -2
Value: 25%
Due date: 25-Sep-2015
Return date: 11-Oct-2015
Length: 2500
Submission method options
Alternative submission method
Task
Tasks
Question1: Reflection on feedback given to Assessment 1
3 Marks (300 words)
Please provide reflection on the advice that you were given by the marker for Assessment Item 1 and discuss how you were able to use this feedback to enhance your research and writing skills in preparation of the Assignment -2.
Question 2 report
11 marks (1100 words excluding table of content and references)
Find the comment letters received on a current exposure draft or proposal for a new accounting standard. (These can be found on the websites of most standard setting organizations such as IASB, AASB or FASB. Hint: These websites can be quite difficult to navigate, so as a first step try to type “IASB comment letters” in to Google or other search engine of your choice). Read a sample of the comments from a rage of respondents and select five respondents, for example from professional accounting bodies, industry, companies or corporate bodies. Include copies of the comment letters you wish to discuss and complete the following task.
a) Describe on your own words the issue that the exposure draft/proposal and comments letters dealt with.
b) Is there agreement among the various groups? Describe the issues where there is agreement/ disagreement and provide examples.
c) In your opinion, which of the three theories of regulation (Public interest theory, Economic interest group theory [Private interest] and Capture theory) explain the comment letters? Justify your answer.
Question 3 report
11 marks (1100 words excluding table of content and references)
Guggiola, G. (2010). IFRS Adoption in the E.U., Accounting Harmonization and Markets Efficiency: A Review, International Business & Economic Research Journal.
http://cluteinstitute.com/ojs/index.php/IBER/article/viewFile/350/339
Refer to the above journal article and develop a critical review report on following aspects:
Continental European countries historically relied upon capital provided by the State, banks or families. They are less reliant on Market Efficiency and have relatively less developed accounting professions. Given these barriers, do you think that the European Union will embrace the standardisation process for all member countries? Do you think standardisation of accounting standards on a global basis necessarily equates with a standardisation of accounting practice?
Rationale
These assessments are designed to assist you:
• To critically evaluate attempts to develop and apply the conceptual framework.
• To critically appraise the objectives of accounting and relate them to the various concepts of accounting.
And:
• In gathering and integrating knowledge on the theories which you have learned from topics 4 to 7.
• In developing your learning through the application of the concepts covered in topics 4 to 7
• To demonstrate your level of understanding and the level of your research efforts.

Content assessed: Accounting regulation and politics and standard setting process and international accounting.
Key generic skills: Research, critical thinking and analytical writing
Subject learning outcome for Assignment-2: - be able to critically appraise the objectives of accounting and relate them to the various concepts of accounting discussed in earlier subjects;
- be able to analyse the possible usefulness of alternative measurement systems to historical
Marking criteria

Assessment 2 - Question 1 Reflection marking criteria

HD
D
C
P

Marks
Quality of reflection
Provides confirmation of the nature of feedback provided, the students thoughts on this feedback, how the student incorporated this in Assessment 2. Student is able to clearly describe and reflect on what/how they have learned from this process
Describes the nature of feedback provided; describes how this was used in Assessment 2. Student is able to describe and reflect what they have learned from this process
Lists or quotes the feedback provided; attempts to describe how this was used in Assessment 2.
Student describes in depth what they have learned from this process
Gives some detail on the nature of feedback provided but this is not clear. Student attempts to describe what they have learned from this process but this is unclear or inconsistent.

/3

/3

Assessment -2 Question 2 Marking criteria

Criteria
High Distinction
Distinction
Credit
Pass
Marks
Ability to find comment letters, summarise issues and identify areas of agreement and disagreement

Inclusion of copies of comment letters.
Copy of the comment letters included. Insightful articulation and identification of key issues in the comment letters.

All key areas of conjecture are discussed with evidence of all relevant factors
Copy of the comment letters included. Detailed discussion and identification of key issues in the comment letters.

All key areas of conjecture are described.
Copy of the comment letters included.

Clear coverage of key issues in comment letters. Most of the areas of conjecture are described.
A link to the comment letters provided

Summary provided, with one or two issues identified, but with various other issues overlooked.

/2
Justification as to why the theory or theories of regulation best explains the comment letters
Response clearly applies all of the theories to the various issues in the comment letters and provides an insightful and original justification that critically evaluates the relevance of the theories to the issue.
Response applies all the theories and various issues in the comment letters and provides a detailed justification that critically evaluates the relevance of the theories to the issue.
Response applies most of the theories to various issues in the comment letters and provides a justification for the chosen theory or theories. Capacity to provide further detail in justification.
Response briefly applies some of the theories to one issue in the comment letters and provides a basic justification for the most obvious theory.

/2
Critical Capacity:
Analyse the underlying assumptions of the accounting theories they have used as examples
The report discussion clearly addresses the issues raised in the comment letters and analyses, evaluates and contrast the underlying assumption of the theories of regulation.

The report outlines all the major issues of the comment letters and provides a logical investigation and analyses and evaluates the impact of these findings for standard setting process

The report outlines some of the major issues of the comment letters and attempts to analyses but provides limited evaluation of the theoretical relationship of the comment letters
Discussion has been used to create a general report with little evidence of independent analysis or critical thinking on standard setting process and theoretical insights.

/3
Academic Writing: Is the answer easy to follow and understand?
The report is professionally presented.
All grammar and punctuation is correct.
The report is written in a style appropriate and is highly engaging and easy to read and
all sections of the report have been included and correctly constructed
The report is professionally presented

The majority of the grammar and punctuation is correct

The report demonstrates some elements of professionally presentation but overall lacks sophisticated structure.

The majority of the grammar and punctuation is correct, minor spelling errors.
There are some errors in grammar and punctuation

The report is not engaging and/or is not easy to read

/2
Student has used referencing system clearly and accurately.

The APA referencing system has been used to clearly and accurately to record all cited sources in the report.

The APA referencing system has been used clearly and accurately to record all cited sources in the report but minor improvements are necessary

The APA referencing system has been accurately used throughout, contains obvious punctuation errors and no more than 1 article has been omitted.
The APA referencing system has been used to record cited sources in the report but has made some major errors in these citations.

/2

Subtotal
/11

Assessment - 2 Question 3 Marking criteria

Criteria
High Distinction
Distinction
Credit
Pass
Marks
Clear description of ongoing debate on IFRS adoption across the globe with special reference to the European Union (EU)

Student has produced a sophisticated review that reports on all significant advancements in the accounting harmonisation process and the main drawbacks to the adoption in the E U and elsewhere.
Student has produced a detailed review report that addresses multiple advancements in the accounting harmonisation process and the main drawbacks to adoption in the EU
Student has produced a review report on some of the advancements in the accounting harmonisation process and main drawbacks to the process being adopted by the EU
Student has produced review report on some of the advancements in the accounting harmonisation process across the globe. Limited or no discussion of the main drawbacks.

/3
Critical Capacity:
Thorough evaluation of the idea of Accounting Harmonisation and market efficiency
The report discussion addresses the issues raised in the task in an insightful manner demonstrating a comprehensive understanding of the issues.
The report is highly relevant to the debate on the accounting harmonisation and market efficiency. A sophisticated argument has been provided to support the opinion
The report is relevant to the debate on real impact of the IFRS adoption. There is a clear effort to form an opinion supported by appropriate evidence.
High quality debate on international accounting harmonisation and market efficiency
The report is relevant to the debate on real impact of the IFRS adoption. There is some attempt to form an opinion and it is supported by evidence.
Some provision of debate on international accounting harmonisation and market efficiency

The report is somewhat relevant to the debate on real impact of the IFRS adoption. There is some attempt to form and opinion supported by evidence.
Limited debate on international accounting harmonisation.

/3
Academic Writing: coherent and fluid writing that is easily understood, grammatically correct and professionally presented
The report is professionally presented.
All grammar and punctuation is correct.
The report is written in an appropriate style; is highly engaging and has a clear flow.
All sections of the report have been included and correctly structured

The report is professionally presented

The majority of the grammar and punctuation is correct

There are some errors in grammar and punctuation

The report is not engaging and/or is not easy to read.

A Major improvement in the report is needed.
There are many errors in grammar and punctuation which need correction.
The report style is inappropriate, the report is not engaging and/or is not easy to read

/3
Student has used referencing system clearly and accurately.

The APA referencing system has been clearly and accurately used to record all cited sources in the report.

The APA referencing system has been used clearly and accurately to record all cited sources in the report however minor improvements are necessary

The APA referencing system has been used to record cited sources in the report but have made some major errors in these citations and/or.

The APA system has not been used to record cited sources in the report and/or
Not all sources are cited and/or
No List of references and/or serious errors in the construction of this list.

/2

Question - 3
Subtotal
/11

Question - 2
Subtotal
/11

Question - 1
Subtotal
/3

Total
/25

Presentation
• Assessment items should be typed.
• Use 1.5 spacing.
• Use a wide left margin. Markers need space to be able to include their comments.
• Use a standard 12pt font such as Times New Roman, Calibri or Arial.
• Left- justify body text.
• Include a separate title page with your name, student number, subject code, assessment number and assessment question. Include class time and tutor’s name if applicable.
• Number your pages (except the cover page).
• Use a header or footer with your name and student number on each page.
• Always keep a copy of your assessments. Both a hard copy and an electronic copy.
• Most importantly, always use your spelling and grammar checker, but remember that this does not pick up all errors. You must still carefully edit your work.

Requirements
As per the CSU Referencing Policy, each assessment item must indicate the style of referencing required for each task. Students should be directed to a single Guide that supports the required referencing style for each assessment task. For those tasks requiring the use of APA, students should be directed to the CSU Referencing website at:
http://student.csu.edu.au/study/referencing-at-csu
Assignments must be submitted through turnitin. The lecturer will announce if a hard copy submission is required addition to turnitin submission.