ACCT3003 Contemporary Issues in Accounting Case Study - Client Briefing - IASB - IFRS - Accounting Assessment Answer

Assessment Task:

ACCT3003 Contemporary Issues in Accounting Case Study Assessment Answer

Task

There are 3 alternative scenarios that you can choose from as follows.

Topic Option 1

You have been asked by a senior partner in the accounting firm where you work to brief his very valuable client who is quite unhappy with the increasing fees from the firm in order to comply with increasing and more complex accounting regulation. The client is a large multi-national commercial real estate company called “Collies”. Your senior partner would like you to provide a brief overview of why this increase in regulation and its complexity has happened using research and applying your judgement to these key issues. Mainly, the partner wants you to calm the client down and tell him there is not too much regulation - the partner does not want to lose the client! However, you are not sure you agree with this so it is your job to reinforce the company view whilst also providing a balanced, realistic information briefing on (i) the reasons for regulatory increases, (ii) what it means for the firm and the client, and (iii) the status of the issue moving forward. You must present an engaging and informative 10-minute briefing to help the client understand the nature of accounting regulation in addition to providing the senior partner with a short 1000 word brief that he can distribute to the client and the accounting team at your firm.

Topic Option 2

In May of 2015, the IASB proposed changes to its conceptual framework in Exposure Draft ED/2015/3. Your managing partner has asked you to prepare a briefing presentation on the factors to consider when selecting a measurement basis and importantly as a recent graduate to apply your judgement on what this means specifically for her two clients who will both happen to be in the Adelaide office at that time. One is a financial services firm, “Perpetuity” (who are reportedly not unhappy about the leans toward the increased use of fair value) and the other is a large newspaper manufacturer, “The Minutiser” (who are reportedly highly unsettled and want to get away from fair value accounting). Your managing partner would like you to be sensitive to the needs of each industry in attendance and present an engaging and informative 10-minute briefing in addition to providing her with a short 1000 word brief that the managing partner can distribute to the client and the accounting team at your firm.

Topic Option 3

You have been asked by a managing audit partner in the accounting firm where you work to brief her very valuable client who has some questions on regulation. The client is a very large Californian food production company called “CaliFresh”. CaliFresh is contemplating establishing broad-scale stand-alone growing and processing operations in South Australia. However, the CaliFresh accounting team are concerned about the accounting standards here and would like your expert advice including the following:

(i) why and how the convergence to IFRS is taking place in Australia and what this means for the US, assuming US GAAP does not converge, and

(ii) an example of a particular IFRS application to demonstrate how IFRS might affect CaliFresh’s operation decisions.

This ACCT3003: Accounting Assessment has been solved by our Accounting Assessment Experts at My Uni Paper. Our Assignment Writing Experts are efficient to provide a fresh solution to this question. We are serving more than 10000+ Students in Australia, UK & US by helping them to score HD in their academics. Our experts are well trained to follow all marking rubrics & referencing style.

Be it a used or new solution, the quality of the work submitted by our assignment experts remains unhampered. You may continue to expect the same or even better quality with the used and new assignment solution files respectively. There’s one thing to be noticed that you could choose one between the two and acquire an HD either way. You could choose a new assignment solution file to get yourself an exclusive, plagiarism (with free Turnitin file), expert quality assignment or order an old solution file that was considered worthy of the highest distinction.