Content assessed: Accounting regulation and topics(s) that your research is related to.
Key generic skills: Research, critical thinking and written communication.
Question 1 (10 marks – 1,000 words)
Find a newspaper article or web page report of an item of accounting news, i.e. it refers to a current event, consideration, comment or decision that has been published after January 2019. Your article could also come from one of the professional journals. The article should not come from an academic journal. Academic journals generally do not 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 appropriate source contact your subject coordinator (Nick Davis: firstname.lastname@example.org).
Explain the article that you have found in your own words and clearly relate the concepts, ideas and facts within the article to one or more of the theories or topics that you have studied this session. For example, this from the Sydney Morning Herald in April 2016 could be linked to accounting regulation, ethics and measurement (and perhaps others). Provide a copy of the article or web page, with details of the source, date and page number with your question answer.
Question 2 (10 marks – 1,000 words)
Find an exposure draft or proposal for a new accounting standard which has been opened for public comments. These can be found on the websites of most standard-setting organisations, such as the IASB, AASB and FASB. (Hint: These websites can be quite difficult to navigate, so as a first step try typing “IASB exposure draft and comment letters”/”FASB exposure draft and comment letters” into Google or other search engine of your choice). Read a sample of the comments from a range of respondents. Select four respondents, for example, from accounting bodies, industry, companies or corporate bodies. If you are having a problem finding suitable comment letters then contact your subject coordinator (Nick Davis: email@example.com). Include copies of the comment letters you wish to discuss and complete the following tasks:
a) Outline the major issues covered in the exposure draft (what is the exposure draft introducing or changing?)
b) Is there agreement among the various groups? Describe the issues where there is agreement/disagreement and provide examples.
c) Can the behaviour of the regulator be explained by ‘public interest theory’? Justify your position.
d) Apply each of the theories of regulation (public interest, private interest and capture) to the comments letters. Justify which theory(ies) you think best explains the comments.
Please note: you need to attach comment letters you selected for your report (no need to attach exposure draft).
This assessment task will assess the following learning outcome/s:
Marking criteria and standards
|Ability to find and describe an accounting issue.Inclusion of item of accounting news. (SLO5) (1 mark)||Copy of item included (1 mark)||A link to the item is provided (0.5 mark)||No copy or link provided (0 marks)|
|Description of major issues in article. (SLO5) (1 mark)||Description within-depth discussion and identification of all the key issues.||Clear identification and discussion of all key issues.||Clear coverage of most of the key issues in the article.||Summary provided, with one or two issues identified, but there may be other issues that could have been addressed that have been overlooked.|
|Linkage of major issues in article to one or more topics presented in the subject. (SLO5) (4 marks)||Response identifies a range of relevant topics and theories and is able to deconstruct and evaluate the issues through the use of theories and arrive at a logical position, for example by synthesizing the insights of different theories.||Response identifies a range of relevant topics and theories and is able to evaluate the issue with a discussion of theory containing relevant examples.||Response uses theory to provide a clear explanation and analysis of most of the relevant issues in the article.||Response provides a linkage to the most obvious topic as well as a brief description of the linkage to some of the related accounting theories.|
|Critical Capacity: Has the student deeply analysed the underlying assumptions of the accounting theories and perspectives of regulation they have utilised in their response (SLO5) (2 marks)||Response critically evaluates the underlying assumptions of the applied theories and perspectives of regulation||Response crucially evaluates most of the assumptions in the applied theories and perspectives of regulation. Some may be evaluated with greater depth than others.||Response provides some critical evaluation of the theories as a whole and perspectives of regulation.||Response provides some summaries of the theories and the underlying assumptions and the perspectives of regulation.|
|Ability to find comment letters, Inclusion of copies of comment letters. (SLO6) (1 mark)||Copy of comment letters included (1 mark)||A link to the comment letter is provided (0.5 mark)||No copy or link provided (0 marks)|
|Outline of major issues covered in the exposure draft. (SLO6) (1 mark)||Thorough identification and elaboration of all the key issues..||In-depth identification and elaboration of key issues in the exposure draft.||Clear identification and some elaboration on most of the key issues.||One or two issues identified, but with various other issues overlooked with only basic elaboration.|
|Description of issues where there is agreement/disagreement between the parties who have written comment letters. (SLO6) (1 mark)||All of the key areas of conjecture are described in depth and this is supported by evidence from comment letters.||All of the key areas of conjecture are described in depth||Most of the areas of conjecture are described.||The most obvious area of conjecture is briefly described.|
|Assessment of whether the regulators behaviour in introducing the ED can be explained by public interest theory (SLO5) (1.5 marks)||Response provides an in-depth application of the public interest theory to the exposure draft and provides a thorough justification that critically evaluates the relevance of the theory to the behaviour of the regulator.||Response applies the public interest theory to behaviour of the regulator, and provides a well developed justification for assessment of relevance of the theory.||Response applies the public interest theory to the exposure draft and provides a clear justification for assessment of relevance of the theory.||Response briefly applies the public interest theory to the exposure draft and provides a basic justification for assessment of relevance of the theory.|
|Application of each of the theories of regulation (public interest, private interest and capture) to the comments letters and a justification as to which theory best explains the comments. (SLO6) (1.5 marks)||Response clearly applies all of the theories to the various issues in the comment letters and provides a well developed justification that critically evaluates the relevance of the theories to the issue.||Response applies all of the theories to the various issues, and provides a clear justification for the chosen theories.||Response applies most of the theories to various issues in the comment letters and provides a clear justification for the chosen theory/theories.||Response briefly applies some of the theories to one issue in the comment letters and provides a basic justification for the most obvious theory.|
|Critical Capacity: Has the student deeply analysed the underlying assumptions of the accounting theories and perspectives utilised in their response? (SLO6) (2 marks)||Response critically evaluates all the underlying assumptions of the theories of regulation.||Response critically evaluates most of the underlying assumptions of the theories of regulation.||Response provides some critical evaluation of the theories of regulation as a whole.||Response provides some summaries of the theories of regulation and the underlying assumptions.|
|Academic Writing: Is the answer easy to follow and understand? (2 marks)||Accurate use of syntax, spelling and punctuation; correctly refers to an extensive variety of sources to support arguments, including prescribed texts and a broad range of additional readings; reference list of an extensive range of resources used, correctly formatted using APA style.||Accurate use of syntax, spelling and punctuation; succinct and effective use of vocabulary; correctly refers to a broad range of sources to support arguments, including prescribed text and a variety of further readings. Reference contains a broad range of relevant resources used, correctly formatted using APA style.||Accurate use of syntax, vocabulary, spelling and punctuation; correctly refers to more than the minimum requirement of sources to support arguments, including prescribed texts and recommended readings. Reference list formatted in APA style, with few or no errors.||Mostly accurate syntax, spelling and punctuation; correctly refers to minimum number of sources to support arguments, including prescribed texts. Reference list used, formatted in APA style, with minor errors.|
The following points are a general guide for presenting assessment items.
For this assessment you are required to use APA 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
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