Final Assignment Question:
"The measurement of liabilities has been a persistent and troubling problem for the IASB. The framework says very little about measurement and yet there are numerous accounting standards that try to tackle this issue.
This has led to many attempts to revise IAS37/MFRS137 (Non-financial liabilities) with no success."
You are required to comment on the following:
1. Explore the different measurements that IFRS adopts with relevance to ‘measurement of liabilities'.
2. Critically evaluate why these problems in measurement continue to exist and recommend solutions that may be available to the IASB in this area.
Hint: Using IAS37 and IAS37ED as examples.
(Max Length: 3,000 words, excluding appendices and references)
Expectations
This assignment expects you to seek out, extract and analyze relevant information sources from various sources. You will be expected to write and present a well-structured, cohesive and clear report using appropriate writing style and language.
Presentation of Assignment
- The report format is formal. You should prepare a clear, well-structured report complying with the assignment requirements with proper English writing style and language.
- The pages of the report should be numbered sequentially (e.g., 1, 2, 3 or page 1 of 12, page 2 of 12, page 3 of 12, etc.).
- The assignment must be prepared in 1.5 line spacing on single-sided pages with 3cm left and right margins, respectively, and 2.5cm top and bottom margins, respectively. The font type is Times New Roman and font size is 11.
- A list of references should be attached to the end of the report.
- A word count must be indicated at the end of the report. Penalties will be imposed on individual assignments exceeding 3,000 words (10% deduction per 100 words over the word limit).
- The report should be stapled in the top left hand corner or held together with a plastic binder.
- A completed Modular Programme Assignment Cover Sheet with the names and signatures of group members should be attached securely to the front of the report before submission.
Length of the Assignment
The report should not exceed 3,000 words (excluding appendices and references).