UNIVERSITY OF SUNDERLAND SUNDERLAND BUSINESS SCHOOL APC311 INTERNATIONAL FINANCIAL REPORTING Hand in date: - 7th April 2014
Aims: 1. To allow students to explore in greater detail the major learning outcomes of the module and to demonstrate a detailed knowledge and understanding thereof. To assess students’ ability to (i) (ii) (iii) (iv) 3. appropriately summarise and structure information identify relevant information from a given set of literature understand and argue the chosen relevant information, and present it in an appropriate written form
To develop or confirm students’ word-processing skills.
Assignment brief: Part A (60%) By using the regulatory discussions and relevant international accounting standards (IASs) which are taught in the module APC311, you are required to provide a critical evaluation of the following areas of financial reporting. i. ii. iii. iv. The regulatory and conceptual framework of international accounting (15%) Accounting for intangible ...view middle of the document...
The crane will be returned to Grey on 31 December 2016. The crane cost $1,800,000 and has a 20-year useful life with no residual value. Required (a) Explain why Grey Plc believes this lease should be categorised as an operating lease. You should refer to relevant international accounting standards to distinguish between finance lease and operating lease agreements. (10%) (b) Show the required accounting treatment(s) in the records of Grey Plc, the lessor, including the income statement; the accruals/prepayments that will appear in the balance sheet at the end of each year of the lease and the disclosure notes as at the end of Year 1. (10%) (c) Show the required accounting treatment(s) in the records of Green Ltd, the lessee, including the income statement; the accruals/prepayments that will appear in the balance sheet at the end of each year of the lease and the disclosure notes as at the end of Year 1. (15%) (d) The major issue surrounding the capitalisation of leases is one of substance over form’. Comment upon this assertion with reference to relevant international accounting standards’. (5%)
End of assessment
Your assignment should aim to provide readers with comprehensive knowledge and critical reviews of these areas covering, for example: A knowledge of different accounting treatments in individual accounting standards A knowledge of implications of different accounting treatments on usefulness of financial statements Your own understandings of, comments on, arguments and contributions to the topic, such as key qualitative characteristics, true and fair view/fair presentation, creative accounting, etc.. Any other important issues which you think should be addressed
The assignment covers all module learning outcomes.
Further details: This is an individual assignment of around 3,000 words (limited between -10% - +10%). This assignment contributes 100% to the final assessment mark for this course. Please note that the University policy on cheating collusion and plagiarism will be applied to this piece of work.
Marking Guide: Marks will be awarded with respect to the following assessment criteria.
Criteria Module learning outcomes Fail (