Management - This Assessment Task Assessment Answer

This assessment task provides students with an opportunity to apply concepts studied in-class to actual firm accounting practices and to obtain an in-depth understanding of a foreign country’s accounting regulations and practices. This task further aims to develop students’ writing, research, and critical thinking skills. Students are required to select one publicly listed company from a country that has adopted IFRS (not Australia). A useful resource for students wanting to locate countries that currently use IFRS is provided by PWC:  Students are to collect the most recent annual financial reports for their selected firm and then prepare a detailed report in which they: • Critically analyze and explain about the selected firm.  Critically analyze the national reporting and regulatory environment within which the selected firm operates.  Select two specific accounting items from the firm’s accounts and discuss the extent to which the company consistently applies the relevant international accounting standards. Discuss whether and how the use of IFRS is enforced within your chosen country.  Evaluate whether the firm’s accounts are comparable with their key global competitors. Reports should be approximately 1,000 words in length and appropriately referenced. Area Marking Guide Marks Awarded Below Expectations Meets Expectations Above Expectations Outstanding Description of firm < 1 1 1.5 2 / 2 Description of national reporting and regulatory environment within which the selected firm operates. < 2 2 3 4 / 4 Discussion of consistency of IFRS application for two specific accounting items. < 3.5 3.5 5 7 / 7 Discussion of how the use of IFRS is enforced within the chosen country. < 2.5 2.5 3.5 5 / 5 Evaluation of consistency of firm’s accounts with global competitors. < 3.5 3.5 5 7 / 7 Quality of writing and report structure. < 2.5 2.5 3.5 5 / 5 Total / 30