Question 1 - (750 words)
You are required to write an essay analysing the usefulness of alternative measurement systems to historical cost. Your essay needs to identify and describe three alternatives to historical cost accounting. In your essay you should explain the assumptions behind these theories and use examples of how they could be applied. Within your essay analyse the usefulness of the three alternative measurement systems and explain if you think any are a valid alternative to historical cost. Support your arguments with appropriate citations in APA 6 style.
Question 2 - (750 words)
You are required to write an essay on the potential beneficiaries of the development of a conceptual framework. Would Hines (1989) argue that financial statement readers or the accounting profession will gain more from the establishment of a conceptual framework?
Hines, R (1989), "Financial accounting knowledge, conceptual framework projects and the social construction of the Accounting profession". Accounting, Auditing and Accountability Journal, 2(2), pp. 72-92
Academic Writing and Referencing -
Content assessed: Conceptual framework, measurement and normative theories.
Key generic skills: Research, critical thinking and written communication.
Articles and other materials-
- Discussion paper DP/2013/1 - A Review of the Conceptual Framework for Financial Reporting Comments to be received by 14 January 2014
- Articles- THE FASB'S CONCEPTUAL FRAMEWORK, FINANCIAL ACCOUNTING AND THE MAINTENANCE OF THE SOCIAL WORLD by RUTH D. HINES
- MEASUREMENT IN FINANCIAL REPORTING INFORMATION FOR BETTER MARKETS INITIATIVE
- Financial Accounting Knowledge, Conceptial Framework Projects and the Social Construction of the Accounting Profession by Ruth D. Hines.