Financial Accounting

                                                                     Financial Accounting Semester 1 Assignment 1

Assignment title       Research Essay

Referencing style    American Psychological 
Association (APA)

Submission mode            Online(OLS)

Assignment task

“While the Corporations Act, which is administered by ASIC, requires companies to comply with accounting standards, ASIC does not actually develop accounting standards. This responsibility is borne by the Australian Accounting Standards Board (AASB)”

Write are search essay critically addressing the following questions:

a)  The composition, need and significance of AASB
b) What is International Accounting Standards Board(IASB)and how does it affect financial reporting regulation in Australia?
c) What are the similarities/differences between AASB(Australian Accounting Standard Board)and IASB(International Accounting Standard Board?
d) The process of Australia adopting accounting standards issued by IASB 
e) The role of international cultural differences and the harmonization of accounting standards.

Assignment Instructions:

This is a research essay. So, you must do research and gather a lot of information and use them to support your discussion and arguments.

  • All information sourced from other sources must be appropriately cited (in-text reference) and referenced using APA 6th edition referencing style.
  • The assignment work must meet basic academic standards including free of errors, use of appropriate format.
  • The assignment which found to be plagiarized will be marked to ZERO(0)and also subject to disciplinary action.
  • Assignment must be submitted to OLS.
  • The submission will be subject to 'turn it in' for similarity check. The allowed similarly report is 25% overall and 10% from single source. You must revise and resubmit until your similarity report comes below the accepted limit.

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