We're Open
+44 7340 9595 39
+44 20 3239 6980

• Critically discuss and apply a conceptual and regulatory framework for International financial reporting standards.



• Critically discuss and apply a conceptual and regulatory framework for International financial reporting standards.

In this paper of accounting, you are asked to present a report. You are directed to discuss and apply a conceptual and regulatory framework for International financial reporting standards. Furthermore, the arguments for and against the use of fair value in financial statements, you must include comparisons to the historical cost convention.   

Assignment Questions

In October 2002, the FASB (Financial Accounting Standards Board) and the IASB (International Accounting Standards Board) announced the issuance of a memorandum of understanding ("Norwalk Agreement"), marking a significant step towards formalising their commitment to the convergence of U.S. and international accounting standards. Since then, both boards have been involved actively in a joint project to develop a common conceptual framework.

This would provide a sound foundation for developing future accounting standards which will be principles-based and internationally converged.

An example of such standards is IFRS 13 – fair value measurement, which was jointly issued by the IASB and FASB in 2011 (effective from 2013) as part of the convergence project, and also as a response to the global financial crisis.

You are required to:

  • Critically discuss the scope of the new conceptual framework for financial reporting. Compare the new framework with the 1989 IASB framework for the preparation and presentation of financial statements.
  • Critically discuss the arguments for and against the use of fair values in the preparation and presentation of financial statements. Your discussion must include comparisons to the historical cost convention.

Your coursework must be in a report format, with an introduction, the main body addressing the above issues, and a conclusion summarising your coursework. All external sources used must be adequately cited and referenced using the Harvard style of referencing.

 


Price: £ 99

100% Plagiarism Free & Custom Written, Tailored to your instructions

Details

  • Title: • Critically discuss and apply a conceptual and regulatory framework for International financial reporting standards.
  • Price: £ 99
  • Post Date: 2020-03-19T12:05:28+00:00
  • Category: Academic Papers
  • No Plagiarism Guarantee
  • 100% Custom Written

Customer Reviews

Mike

My order went 3 hours late and I also went mad. Then the customer support team calmed me down and offered me a flat discount of 50%. However, I did get my order and chilled out as the work was exactly what I requested. Next time I would place my order a bit sooner to save any trouble.

United Kingdom    2020-03-12

Joshua

Writing is not my field. I take help from this website for my accounting assignment. The work is good and I scored good grades in it. Thank you from the bottom of my heart.

United Arab Erimates    2020-03-12

Write your Feedback

Your email address will not be published. Required fields are marked *