Assessment item 1
Short Critical Essays
Value: 15%
Due date: 29-Aug-2017
Return date: 19-Sep-2017
Length: 2,500 words (guide)
Submission method options
Alternative submission method
Task
Question 1 - 4 marks (750 words)
Two fundamental qualitative characteristics of accounting highlighted within the conceptual framework are ‘relevance’ (QC6-10) and ‘faithful representation’ (QC12-16). Which of these two characteristics do you think is more important? Justify your position. Given the nature of accounting standard setting, it is possible for accounting to ever achieve faithful representation? Justify your position.
Question 2 - 4 marks (750 words)
Briefly describe each of the Normative alternatives to Historical cost. In your response include reference to the weaknesses of historical cost that each alternative attempted to address. Were any of these alternatives successful? In your answer you will need to outline your criteria for success.
Question 3 - 4 marks (750 words)
Describe the key building blocks of conceptual frameworks. Outline two advantages for accounting that can result from the development of conceptual frameworks. What are the criticisms of conceptual frameworks? Do you agree with these criticisms? Justify your position.
Academic Writing and Referencing - 3 marks
Content assessed: Conceptual framework, measurement and normative theories.
Key generic skills: Research, critical thinking and written communication.
Rationale
This assignment has been designed to assess your ability to:
• communicate your understanding of the relevant topics;
• be able to critically evaluate attempts to develop and apply a conceptual framework (SLO1);
• be able to critically appraise the objectives of accounting and relate them to the various concepts of accounting discussed in earlier subjects (SLO2); and
• be able to analyse the possible usefulness of alternative measurement systems to historical cost (SLO3).
Marking criteria
Question 1: High Distinction Distinction Credit Pass
Appraisal of relative importance of qualitative characteristics of accounting. Evaluation of potential for accounting to achieve 'faithful representation' given nature of standard setting. (SLO2) Response provides a deep and thoughtful appraisal of qualitative characteristics of accounting including an insightful evaluation of the potential for accounting to ever achieve 'faithful representation'. Response provides a thorough appraisal of qualitative characteristics of accounting including a well-considered evaluation of the potential for accounting to ever achieve 'faithful representation'. Response provides a clear appraisal of qualitative characteristics of accounting including an evaluation of the potential for accounting to ever achieve 'faithful representation'. Response attempts to appraise qualitative characteristics of accounting but some essential perspectives may be absent. A limited evaluation of the potential for accounting to achieve 'faithful representation' is provided. 2
Critical Capacity and use of Source Material: Does the response demonstrate any analysis of qualitative characteristics of accounting? Is the critical discussion supported by reference to appropriate sources? Critical analysis draws on source material as well as the students own thoughts. A well communicated and supported conclusion is reached. Critical analysis draws on source material as well as the students own thoughts. The conclusion demonstrates a high level of understanding. Clear analysis and evaluation that draws on a variety of source material. The conclusion demonstrates a solid understanding of the topic. Some evidence of basic critical thought that is based primarily on only one source. A simplistic but clear conclusion is reached. 2
Question 2: High Distinction Distinction Credit Pass
Description of alternatives to historical cost including indentification of weaknesses of historical cost. Evaluation of alternatives based on criteria. (SLO 3) Deep and thoughtful description of the alternatives to HCA provided including an exemplary identification of the weaknesses of HCA. Response provides an insightful evaluation of alternatives according to criteria. Thorough description of the alternatives to HCA articulated including an detailed identification of the weaknesses of HCA. Response provides well considered evaluation of alternatives according to criteria. Clear description of the alternatives to HCA articulated including an identification of the weaknesses of HCA. Response provides a concise evaluation of alternatives according to criteria. Attempt made at description of the alternatives to HCA articulated including an identification of some of the weaknesses of HCA. Evaluation of alternatives according to criteria may overlook some key issues. 2
Critical Capacity and use of Source Material: Does the response demonstrate any critical analysis of historical cost and its alternatives? Is the critical discussion supported by reference to appropriate sources? Response provides a clear, deep and critical analysis of HCA and its alternatives based on criteria. Well communicated and supported, relying on a wide variety of source material. Response provides a thorough analysis of HCA and its alternatives that draws on a wide variety of source material as well as the students own thoughts. Response provides a clear critical analysis of HCA and its alternatives and the usefulness of the alternative theories that draws on source material as well as the students own thoughts. Some evidence of basic critical thought in relation to HCA and the various alternatives that is based primarily on only one source. 2
Question 3: High Distinction Distinction Credit Pass
Description of key building blocks and advantages of conceptual frameworks. Outline of criticisms of conceptual frameworks including articulation of position of agreement/disagreement with criticisms (SLO2). Deep and thoughtful description of the key building blocks of conceptual frameworks including advantages and weaknesses. The student's perspective is clearly articulated and supported providing an insightful appraisal of the issues surrounding conceptual frameworks. Thorough description of the key building blocks of conceptual frameworks including advantages and weaknesses. The student's perspective is clearly articulated and supported providing well considered appraisal of the issues surrounding conceptual frameworks. Clear description of the key building blocks of conceptual frameworks including advantages and weaknesses. The student's perspective is satisfactorily articulated and supported providing a concise appraisal of the issues surrounding conceptual frameworks. Description of the key building blocks of conceptual frameworks including advantages and weaknesses provided but lacking some key issues. The student's appraisal of issues surrounding conceptual frameworks may overlook some key issues but is otherwise reasonably well considered. 2
Does the response demonstrate any critical evaluation of the issues surrounding conceptual framework projects? Are the arguments supported through the use of external sources? Response provides a clear, deep and critical analysis that draws on source material as well as the student's own thoughts. Well communicated and supported. Response provides a clear, deep and critical analysis that draws on source material as well as the student's own thoughts. Response provides a clear analysis and evaluation of the various perspectives that draws on a variety of source material. Some evidence of basic critical thought in relation to the various perspectives that is based primarily on only one source. 2
Academic Writing: Is the answer well written, easy to follow and understand? Accurate use of syntax, spelling and punctuation. A sophisticated vocabulary is appropriately used. Answer is logically structured with arguments coherently developed and supported. Accurate use of syntax, spelling and punctuation; succinct and effective use of vocabulary. Clear expression and structure. Accurate use of syntax, vocabulary, spelling and punctuation. Writing is easy to follow and understand. Mostly accurate syntax, spelling and punctuation, language is simplistic but appropriate. 2
Adherence to referencing guidelines Reference list included with correct adherence to referencing guidelines. Correct in-text referencing is provided. Reference list and in-text referencing performed in accordance with APA guidelines. Reference list and in-text referencing performed largely in accordance with the APA guidelines. Reference list provided, formatted in APA style with minor errors. Some in-text referencing provided with minor errors 1
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Presentation
The following points are a general guide for presenting assessment items.
• 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 manually and carefully edit your work.
Requirements
For this assessment you are required to use APA 6 referencing to acknowledge the sources that you have used in preparing your assessment. Please refer to the CSU referencing guide http://student.csu.edu.au/study/referencing-at-csu. In addition a very useful tool for you to use that demonstrates how to correctly use in text referencing and the correct way to cite the reference in your reference list can be found at https://apps.csu.edu.au/reftool/apa-6
This assignment must be submitted through Turnitin.
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