ACC303 Adavnced Financial Accounting Assessment 2 Details
Assessment 2: 25%
This assessment requires critical analysis and synthesis of financial information, the application of knowledge and the capacity to develop and use financial information and communicate and explain this information within the framework of international accounting standards, (up to 2000 words)
Assignment Question: Write a research report answering the questions below.
Two articles ‘Finns to fight write down rules' (Link 1 below) and ‘Media to feel the IFRS cut the deepest' (attached in the Moodle) published in ‘The Australia' newspaper a long time back identified how IFRS may negatively impact the interests of Australia listed companies. Use peer reviewed academic research to decide the impact of IFRS in relation to companies' intangibles assets and comment on whether those concerns have materialised. Wesfarmers Company's 2018 annual report should be used as an illustrative example to support your argument regarding the impact of IFRS in relation to intangibles.
Hint: Use information in the news articles. Read relevant ‘notes to financial statements' in the annual report, financial statement section. Ask yourself questions like; has anyone researched the impact of intangibles write downs on profits, share prices or dividends etc to support your points. Also consider reading and applying AASB138 and 136).