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 tutors 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.

It is recommended that your name, student ID and page number are included in the header or footer
of every page of the assignment.
Further details about submission in Turnitin are provided in online submission.
Assessment item 2
Review of Current Accounting Issues
Value: 25%
Due date: 20-Sep-2017
Return date: 13-Oct-2017
Length: 3,000 words (guide)
Submission method options
Alternative submission method

Task

In your accounting career you will be required to analyse current accounting issues and communicate
your theoretical understanding to your professional colleagues and your clients. For this assignment
assume that you are the senior accountant working for a major firm.

Question 1 - 9 marks (1,500 words)

The CEO has forwarded to you an interesting article and requires you to provide her with a deeper
theoretical understanding of the issues discussed so that she can fully engage in the lively discourse at
an upcoming conference.

You are required to 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 the 1st of
June 2017. Your article could also come from one of the professional journals. The article should not

Charles Sturt University Subject Outline

ACC518 201760 S I-5 June 2017-Version 1 Page 11 of 22
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.

You then need to 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. Support your analysis of the assumptions and implications of the topic or theory
as appropriate with reference to sources in APA 6 style. For example, this article
(http://www.smh.com.au/business/retail/target-scandal-claims-another-victim-20160412-go43jz.html)from
the Sydney Morning Herald in April 2016 could be linked to the topics of accounting regulation and
measurement (and perhaps others). You must provide a copy of the article or web page, with details of
the source, date and page number with your answer.

Question 2 - 10 marks (1,500 words)

The Senior Partner of the firm you work for has appointed you to a new role. It is now your
responsibility to review upcoming accounting standards and provide a report to the partners on the
proposed standard and the opinions of other industry players on the changes.

Firstly, you are required to find a current 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, ideally from different
types of organisations for example, from accounting bodies, industry, companies or corporate bodies.
If you are having a problem finding suitable comments letters then contact your subject coordinator.

In your own words, supporting your evaluation with appropriate citations, appropriately referenced in
APA 6 style, you are required to include the following information in the report.

An outline of the major issues covered in the exposure draft (what is the exposure draft
introducing or changing?).
An assessment as to whether (or not) the behaviour of the regulator in introducing the
exposure draft can be explained by public interest theory.
An outline of the views presented in the comments letters which highlights the areas of
agreement and disagreement with the exposure draft.
An assessment as to whether the comments letters can be interpreted as being 'for' or 'against'
which provides relevant examples.
An 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.

Please note: you need to attach the comment letters you selected for your report (there is no need to
attach the exposure draft)

Academic Writing and Referencing - 6 marks

Content assessed: Accounting regulation, current financial reporting issues and topics(s) that your
research is related to.
Key generic skills: Research, critical thinking and written communication.

Rationale

This assessment is designed to test your ability to:

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ACC518 201760 S I-5 June 2017-Version 1 Page 12 of 22
 communicate your understanding of the topic areas; and
be able to critically evaluate selected current financial reporting and management accounting
issues (SLO4).

Marking criteria

Charles Sturt University Subject Outline

ACC518 201760 S I-5 June 2017-Version 1 Page 13 of 22
Question 1 High Distinction Distinction Credit Pass
Ability to find and describe an 1
accounting issue. No copy or a link is provided
Copy of item included (1 mark)
Inclusion of item of accounting (0 marks)
news. (SLO4)
Description of major issues in Description with in depth Clear identification and Clear coverage of most of the Summary provided, with one 2
article. (SLO4) discussion and identification of discussion of all key issues. key issues in the article. or two issues identified, but
all the key issues. there may be other issues that
could have been addressed that
have been overlooked.
Linkage of major issues in Response identifies a range of Response identifies a range of Response uses theory to Response provides a linkage to 3
article to one or more topics relevant topics and theories and relevant topics and theories and provide a clear explanation and the most obvious topic as well
presented in the subject. is able to deconstruct and is able to evaluate the issue analysis of most of the relevant as a brief description of the
(SLO4) evaluate the issues through the with a discussion of theory issues in the article. linkage to some of the related
use of theories and arrive at a containing relevant examples. accounting theories.
logical position, for example
by synthesizing the insights of
different theories.
Critical Capacity and use of Response critically evaluates Response critically evaluates Response provides some Response provides some 3
source material: Has the the underlying assumptions and most of the assumptions in the critical evaluation of the summaries of the theories or
student analysed the underlying implications of the applied applied theories or topics. theories or topics as a whole. topics and the underlying
assumptions and implications theories or topics. Exemplary Some may be evaluated with Demonstrates use of multiple assumptions and implications.
of the accounting theories or use of relevant sources from greater depth than others. appropriate sources. Limited but appropriate source
topics they have identified?Are within prescribed materials and Correctly refers to an extensive consultation and background
the arguments supported? attempts to include sources variety of sources to support reading.
(SLO4) beyond prescribed material. arguments, including
prescribed texts and a broad
range of additional readings.
Question 2 High Distinction Distinction Credit Pass
Ability to find comment letters, Copy of comment letters included (1 mark) No copy or a link is provided 1
Inclusion of copies of comment (0 marks)
letters. (SLO4)
Outline of major issues covered Thorough identification and Indepth identification and Clear identification and some One or two issues identified, 1
in the exposure draft. (SLO4) elaboration of all the key elaboration of key issues in the elaboration on most of the key but with various other issues
issues. exposure draft. issues overlooked with only basic
Charles Sturt University Subject Outline
ACC518 201760 S I-5 June 2017-Version 1 Page 14 of 22

Assessment of whether the
regulators behaviour in
introducing the ED can be
explained by public interest
theory (SLO4)
Description of issues where
there is
agreement/disagreement
between the parties who have
written comment letters.
(SLO4)
Assessment as to whether the
authors of the comments letters
are utilising the arguments 'for'
or 'against' regulation in their
views. (SLO4)
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. (SLO4).
Charles Sturt University Subject Outline
ACC518 201760 S I-5 June 2017-Version 1
elaboration.
Response provides an indepth Response applies the public Response applies the public Response briefly applies the 1
application the public interest interest theory to behaviour of interest theory to the exposure public interest theory to the
theory to the exposure draft the regulator, and provides a draft and provides a clear exposure draft and provides a
and provides a thorough well developed justification for justification for assessment of basic justification for
justification that critically assessment of relevance of the relevance of the theory. assessment of relevance of the
evaluates the relevance of the theory. theory.
theory to the behaviour of the
regulator.
All of the key areas of All of the key areas of Most of the areas of conjecture The most obvious area of 1
conjecture are described in conjecture are described in are described. conjecture is briefly described.
depth and this is supported by depth
evidence from comment letters.
Response identifies a range of Response identifies several Response identifies some Response identifies one or two 1.5
appropriate examples of examples of comments letters appropriate examples of examples of comments letters
comments letters are which are appropriately comments letters which are with limited justification as to
thoroughly justified as being justified as being for or against adequately justified as being whether they are for or against
for or against the existence of the existence of accounting for or against the existence of the existence of regulation.
accounting regulation. regulation. accounting regulation.
Response clearly applies all of Response applies all of the Response applies most of the Response briefly applies some 1.5
the theories to the various theories to the various issues, theories to various issues in the of the theories to one issue in
issues in the comment letters and provides a clear comment letters and provides a the comment letters and
and provides a well developed justification for the chosen clear justification for the provides a basic justification
justification that critically theories. chosen theory/theories. for the most obvious theory.
evaluates the relevance of the
theories to the issue.
Page 15 of 22
Critical Capacity: Has the
student deeply analysed the
underlying assumptions of the
accounting theories and
perspectives utilised in their
response? (SLO4)
Academic Writing: Is the
answer well written, easy to
follow and understand?
Adherence to referencing
guidelines
Charles Sturt University Subject Outline
ACC518 201760 S I-5 June 2017-Version 1
Response critically evaluates
all the underlying assumptions
of the theories and perspectives
of regulation. Exemplary use of
relevant sources from within
prescribed materials and
attempts to include sources
beyond prescribed material.
Accurate use of syntax,
spelling and punctuation. A
sophisticated vocabulary is
appropriately used. Answer is
logically structured with
arguments coherently
developed and supported.
Reference list included with
correct adherence to
referencing guidelines. Correct
in-text referencing is provided.
Response critically evaluates
most of the underlying
assumptions of the theories and
perspectives of regulation.
Correctly refers to an extensive
variety of sources to support
arguments, including
prescribed texts and additional
readings.
Accurate use of syntax,
spelling and punctuation;
succinct and effective use of
vocabulary. Clear expression
and structure.
Reference list and in-text
referencing performed in
accordance with APA
guidelines.
Response provides some
critical evaluation of the
theories and perspectives of
regulation as a whole.
Demonstrates use of multiple
appropriate sources.
Accurate use of syntax,
vocabulary, spelling and
punctuation. Writing is easy to
follow and understand.
Reference list and in-text
referencing performed largely
in accordance with the APA
guidelines.
Response provides some 3
summaries of the theories and
perspectives of regulation and
the underlying assumptions.
Limited but appropriate source
consultation and background
reading.
Mostly accurate syntax, 4
spelling and punctuation,
language is simplistic but
appropriate.
Reference list provided, 2
formatted in APA style with
minor errors. Some in-text
referencing provided with
minor errors
25
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