COAC318 :Corporate Accounting Use the Language of Company Accounting with Accounting Standards - Accounting Assignment Help

Assignment Task:

Task:

Unit Learning Outcomes addressed:

1. Use the language of Company Accounting with Accounting standards.

2. Explain the purpose, content, format, and practical applications of the requirements pertaining to a range of key areas of corporate accounting practice.

3. Analyse and interpret issues relating to accounting for companies.

4. Develop and critically analyse the contextual and theoretical aspects of accounting for groups.

6. Apply the accounting standards for group of entities, Business combination and consolidation

ASSESSMENT DESCRIPTION:

This assessment is designed to assess the students’ ability to research and analyse accounting standards and interpret how to apply relate corporate accounting concepts to various scenarios. It evaluates students’ problem solving and researching skills and enables them to communicate the financial affairs of a company. This assignment consists of 2 sections; the theory section which assesses the researching skills and case study section with complex calculations which allows the students to apply relevant accounting standards to the real-life case. This assessment questions are as follows: (Total 2000 words) Topic: Writing a business report on Fair Value Measurement by selected two ASX listed group companies

Part A: This part of the report relates to a critical evaluation of Fair Value Measurement debate in corporate financial reporting in contemporary businesses. Statement: Laux and Leuz (2009) argue that “the fair value debate is far from over and much remains to be done” (p.833). As well, Whittington (2008) argues that “in a realistic market setting, the search for a universal measurement method may be fruitless and more appropriate approach to the measurement problem might be how to define a clear measurement objective and to select the measurement method that best meets that objective in the particular circumstances that exist in relation to each item in the accounts”. (p.139) Required: Based on the above arguments, write a business report on the relevance and critical evaluation of fair value accounting in contemporary businesses. In your demonstration, you should highlight as to whether fair value accounting is applicable for a wide range of private and public sector organisations in corporate financial reporting. The expectation is that a reasonable amount of research articles (academic and professional) is used in the body of the report. For all other requirements please follow the instruction as suggested under section Submission of Assessment Tasks in COAC318 Corporate Accounting Unit Outline.

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