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ACC301 Accounting Theory and Contemporary Issues
Questions:
Answer the questions below, in a maximum of 1000 words. All your answers must be supported by minimum two additional references and where appropriate with examples.You are also required to deliver a 3-minute video presentation where you summarise your findings of your written report.
Assessment Instructions
• This is an individual assignment. Any work which has been copied or shared between students will result in a fail grade for all students concerned. So please make sure your answers are your own work and referenced correctly.
• Please follow the marking rubric outlined below (p. 4) as you answer each question.
• Please make sure you follow the guidelines noted below (p.3), relating to presentation, late policy,and academic integrity.
1) In your own words, explain why measurement has an essential role in accounting. (5 Marks)
2) Provide a brief discussion in your own words to the measurement model currently adopted by the accounting standard setters, including reasons why they have adopted such a model, together with issues associated with this model. (5 Marks)
3) Using your own words, explain the reasons that prompted accounting standard setters to consider (adoption of) a single measurement base model. (5 Marks)
4) In your own words, explain which measurement base, historical cost or fair value, would provide the most relevant and reliable accounting information in practice? Justify your answer. (5 Marks)
Video Presentation (5%)
You are required to deliver a 3-minute video presentation which takes the audience on a journey that chronicles the section of your written report.KBS values academic integrity. All students must understand the meaning and consequences of cheating, plagiarism and other academic offences under the Academic Integrity and Conduct Policy. What is academic integrity and misconduct? What are the penalties for academic misconduct? What are the late penalties? How can I appeal my grade?
ACC301 Accounting Theory and Contemporary Issues
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Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.
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