QMUL School of Business and Management BUS 106: Accounting for Business Coursework 2012 In this age of globalisation, while it is absolutely necessary for large listed companies in different countries to prepare financial statements using uniform accounting standards, such as International Financial Reporting Standards (IFRSs), the preparation of management accounting reports remains optional.
Required: Critically examine the above statement by analysing the arguments for and against the use of uniform (international) accounting standards in the preparation of financial statements and the flexibility in the preparation of management accounting report. Coursework Guidance In the past, the UK has had its own sources of regulation that accountants must follow when producing financial statements for listed companies and so have other countries.
In this age of globalisation there has been pressure, since the 1990’s, for the international harmonisation of accounting regulations (for all listed companies to have the same accounting standards regardless of which country they are listed in). This has involved individual countries agreeing to revise their own accounting regulations, so that an agreed set of international financial reporting standards could be created (convergence). The IFRSs (International Financial Reporting Standards) are issued by the IASB (International Accounting Standards Board) and are now accepted in most parts of the world.
Your answer should consider these issues in greater detail and consider why, in an age of globalisation, international accounting harmonisation is important – if indeed it is at all. You should also consider in your answer the extent to which harmonisation has been achieved to date and what barriers needed to be overcome. In addition, you should contrast these advances in the regulation of financial accounting with the flexibility still permitted in management accounting. Submission The submission date for this piece of work is Friday 14 December 2012.
It must be uploaded via QMPlus and must be accompanied by a fully completed front sheet. LATE ASSIGNMENTS WILL NOT BE ACCEPTED. Only mitigating circumstance forms accompanied by a medical certificate will be accepted. All assignments must be word processed and marks will be given for good presentation. Poor presentation and poor use of the English language are not marker-friendly and you will lose marks. The length of this piece of work should be between 2000-2500 words, but it is quality and not quantity that counts.
Plagiarism You should start work on the assignment as soon as possible. Plagiarism is “to steal from the writings or ideas of another”, it is copying or presenting material from someone else’s work in your own written coursework without citation or any indication that the material is a quotation (that is, someone else’s words from books, newspapers, journals and other printed sources). You may well be using the Internet as a resource for your work, but you must always reference the sites you use.
Be very careful when you download materials from the Internet: you must either quote material if you use it directly, or put the substance in your own words. Copying from the work of another student, or getting another student to write something which you hand in as your own work, is also plagiarism and is subject to the same penalties as the unacknowledged use of printed sources. Remember this is an individual piece of work and plagiarism will be dealt with severely. You can find details of Queen Mary’s assessment offences regulations online: http://www. rcs. qmul. ac. uk/policy_zone/assessment_offences_regulations. pdf Bibliography This is a research-based assignment and as far as possible you should refer to appropriate books, professional journals and academic journals. All sources of information should be fully cited in a bibliography. Academic accounting journals that you might find useful: ? AOS – Accounting, Organisations and Society ? AAAJ – Accounting, Auditing and Accountability Journal ? CPA – Critical Perspectives on Accounting ? EAR – European Accounting Review Professional Journals: ?
Economia ? Accounting and Business ? Financial Management A list of all the references used should be included at the end of your work in your bibliography in alphabetical order. 1. References appear in the body of the text as follows: “The earliest professional accountancy bodies have their roots in late nineteenth century Britain and this model of professionalisation has been replicated, with mutations (Chua and Poullaos, 1998), in many other countries at various times. ” 2. At the end of the text you will have a bibliography.
Journal references should be cited in the bibliography, in alphabetical order, as follows: Chua, W. and C. Poullaos (1998). The dynamics of ‘closure’ amidst the construction of market, profession, empire and nationhood: An historical analysis of an Australian accounting association, 1886-1903. Accounting, Organisations and Society, 23(2): 155-187. And book references should be cited in the bibliography as follows: Gray,R. H. , Owen, D. and Maunders, K. (2010). Corporate Social Reporting. London: Prentice Hall. Other notes ? ? ? ? ? ? ? ? ? ? Your answer must be in essay form, making suitable use of sub-headings You must include a word count at the end Font size 12 (either Times Roman or Arial) Use paragraphs appropriately The coursework must be typed and single-spaced Do not rely solely on the internet for research Ensure that you answer the question – all parts of it Take care with presentation Insert page numbers You should not put your name on the coursework – other than on the front sheet Pay attention to spelling and grammar