Content assessed: Accounting regulation and topic(s) that your research is related to.
Key generic skills: Research, critical thinking and communication.
Question 1
Find the comments letters received on the present exposure draft or proposal for a new accounting standard. (These could be found on websites of most standard-setting organisations, like IASB, AASB and FASB. Hint: These websites could be quite difficult to navigate, so as first step try typing “IASB comment letters”/”FASB comment letters” into google or other search engine of your choice).Read a sample of the comments from a range of respondents. Try to aim for between two and four respondents, for example, from accounting bodies, industry, companies or corporate bodies. If you are having a problem finding suitable comments letters then contactShibly Abdullah([email protected]) Include copies of the comments letters you wish to discuss and complete the following tasks:
1. Explain in your own words the issues that exposure draft/proposal and comments letters are dealing with.
2. Is there agreement among different groups? Explain the issues where there is agreement/disagreement and provide examples.
3.In your opinion, which of the three theories of regulation (like, public interest, private interest or capture theory) best describes the comment letters? Justify your answer. Adapted from Rankin, Stanton, McGowan, Ferlauto and Tilling (2012).
Question 2
Find a newspaper article or web page report of the item of accounting news, i.e. it refers to a present event, consideration, comment or decision that has been published after June 2013. Your article can also come from one of the professional journals like 'Charter'. The article must not come from an academic journal. Academic journals generally don’t contain news articles or articles of less than one page and are usually only published 2 or 4 times a year. If you are having a problem ensuring that your article is from an suitable source contact Shibly Abdullah ([email protected]).
Describe the article which you have found in your own words and clearly relate concepts, ideas and facts within the article to one or more of the theories or topics that you have studied this session. Like, the Australian Financial Review article contained in your readings could be linked to topics like Ethics, Accounting regulation and politics and Normative accounting theories (conceptual framework projects).