Issues in Contemporary Accounting Research Assignment

Research background

There is considerable divergence between standards issued by national and international standard-setting bodies. The globalisation of economic activity has resulted in an increased demand for high quality, internationally comparable financial information. The AASB believes that it should facilitate the provision of this information by pursuing a policy of international convergence and international harmonisation of Australian accounting standards.

In this context, "international convergence" means working with other standard-setting bodies to develop new or revised standards that will contribute to the development of a single set of accounting standards for world-wide use. "International harmonisation" of Australian accounting standards refers to a process which leads to these standards being made compatible with the standards of international standard-setting bodies to the extent that this would result in high quality standards. Both processes are intended to assist in the development of a single set of accounting standards for world-wide use.

Assignment questions

Question 1: Write an investigative report on the importance of having a single set of accounting standards for world-wide to use (Approximate words 1000).

Question 2: Prepare a discussion report on the challenges facing standardisation of accounting standards (i.e. having a single set of accounting standards across the world) (Approximate 1000 words).

(Note: Both questions are literature review type questions and therefore you must search and use a reasonable number of relevant literatures).

Format and presentation of the report:

Format

• Cover page showing the title of the report, group details, and the word count (not included in the word count) -
• Table of contents (if applicable - not included in the word count)
• An introduction telling the reader what the report is about, what it cover and how and how it is structured (100 - 150 words)
• A conclusion/summary (100 - 150 words)
• References - using Harvard referencing style (not included in the word count)
• Appendices (if applicable - not included in the word count)

Presentation

Your report should be presented complying with the followings:

• 1.5 line spacing
• Times New Roman 12 point font
• 2.00 cm margins on all sides
• Clearly label section and subsection (if applicable)

Word Limit: 2300 words (See questions for details).