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ACCT 304 Accounting Theory
Semester 2 2017
ASSIGNMENT 3: INDIVIDUAL ASSIGNMENT
Assessment Information – Semester 2; 2017 (Special Consideration)
Subject Code:
Acct 304
Subject Name:
Accounting Theory
Assessment Title: Individual Assignment
Format:
Essay
Word count:
2500 words ±10% words (excluding references and appendices)
Weighting:
50%
Due Date:
24th Nov. 2017 (Friday) 23.00 hours
Assessment Description
You are required to complete the assessment task noted below as a word document and submit
your answer electronically via email: sajan.cyril@acu.edu.au
Any work which has been copied or shared among students will result in a Fail grade for
all students concerned. This assignment must be in your own words and not copied
directly from any source.
Use the ACU reference guide (consult library staff if unsure)
Please choose one topic out of the topics listed below
TOPIC 1: Positive accounting theory
“Explain the difference between (PAT) and normative accounting theory (NAT) and the
factors that led to the development of PAT of accounting policy choice. Use examples where
appropriate to do so.In setting accounting standards which of these accounting theories
(positive or normative) would be applied? Explain your answer clearly giving reasons for
your choice.
TOPIC 2: Sustainability and environmental accounting
During a Government inquiry, several years ago, a leading accounting body, made a
submission into corporate social responsibility. It showed that that while there was strong
public support (over 78%) and shareholder support (above 85%), for making businesses
provide social and environmental reporting. These results were not reflected in opinions held
by business leaders, who had just over 50% support. The leading accounting body felt that
compulsory reporting would not enhance the value of the information provided and create
unnecessary regulation. “Given that sustainability reporting is not mandatory, preparing such
reports is simply a waste of resources.”
Discuss this statement, and explain what advantages do companies think they have in
issuing sustainability reporting?
TOPIC 3: Regulation of financial accounting:
In an article discussing relevance IFRS to developing countries by Chand and White (2007),
they state that, while the forces of globalisation and convergence are moving accounting
practices towards a unified or at least harmonised regulatory framework for financial
reporting, this is unlikely to best serve the diverse interests of the disparate user groups of
financial reports. What do you understand by harmonisation as opposed to standardisation
in relation to financial accounting? Explain your answer using examples where appropriate to
illustrate your point.
Marking Criteria
Introduction
Discussion
Maximum
marks
10
20
Conclusion
10
Presentation (referencing, spelling, grammar, spacing, proper use of tables,
figures, etc.)
10
Total
50
APPENDIX
Rubric – Individual Assignment
Standards
ILO
s
Criteria
Below Expectations
Level 1 (e.g. F)
LO
1, 4
&5
Content and
development
Does not answer question.
Meets Expectations
Level 2 (e.g. P)
Partially answers
question;
Content is incomplete.
Does not reference any
course readings;
Content is not
comprehensive and /or
persuasive.
-Major points are not clear
and /or persuasive.
Minimal reference to
course readings
Major points are
addressed, but not well
supported.
Research is inadequate
or does not address
course concepts.
Content is inconsistent
with regard to purpose
and clarity of thought.
LO
1, 4
&5
Organisation
and structure
StructurePoor
of the
Organization and structure assignment is not easy to
detract from the message of follow.
the writer.
Introduction is missing or,
if provided, does not
Introduction and/or
preview major points.
conclusion is missing.
Level 3 (e.g. C)
Answers question
adequately. Content is
comprehensive, and
accurate;
Good reference to course
readings;
Major points are stated
clearly and are generally
supported.
Research is adequate,
timely (not ancient) and
addresses course
concepts.
Exceeds Expectations
Level 4 (e.g. D)
Content is covered very well,
accurate, and persuasive.
Content is comprehensive,
accurate, and persuasive.
Course readings play
comprehensive role in making
points/developing arguments.
Course readings play
comprehensive role in
making points/developing
arguments.
Major points are stated and
are well supported.
Research is very good, timely
(incorporates news/current
events) and addresses course
concepts.
Content and purpose of the
writing are clear.
Content and purpose of the
writing are clear.
Structure of the assignment
is clear and easy to follow.
Introduction provides
sufficient background on
the topic
Paragraph transitions are
transitions
Paragraphs are disjointed andParagraph
lack transition
of thoughts. present and logical and
need improvement.
maintain the flow of thought
throughout the paper.
Assignment is
Conclusion is missing, or if
Level 5 (e.g. HD)
Major points are stated
clearly and are well
supported.
Research is excellent,
timely (incorporates
news/current events) and
addresses course
concepts.
Content and purpose of
the writing are clear
Structure of the assignment is
clear, easy to follow and
interesting to read.
Introduction provides and
sufficient background
information on the topic and
previews major points.
Paragraph transitions are
present and logical and
maintain the flow of thought
Structure of the
assignment is clear, easy
to follow and interesting to
read.
Introduction provides an
abundance in background
information on the topic
and previews major
points.
Paragraph transitions are
inadequate/excessive in
length.
LO1
&2
Referencing
Citations and references
are not provided.
There are mistakes in
using the Harvard style for
referencing.
LO1
&2
Grammar,
Punctuation &
Spelling
Assignment contains
numerous grammatical,
punctuation, and spelling
errors.
Language uses jargon or
conversational tone.
provided, does not flow
from the body of the
paper.
Conclusion is logical and
flows from the body of the
paper.
Assignment is over/ under
word length
Assignment is the
appropriate length as
described for the
assignment
Assignment provides
citations, but they are
incorrectly prepared.
There are no mistakes in
using the Harvard style for
referencing
Citations and references
are used appropriately.
There are no mistakes in
using the Harvard style for
referencing.
throughout the paper.
present and logical and
maintain the flow of
Conclusion is logical and flows thought throughout the
from the body of the paper and paper.
is impacting on its final
message.
Conclusion is logical and
flows from the body of the
paper and is impacting on
Assignment is the appropriate its final message
length as described for the
assignment
Assignment is the
appropriate length as
described for the
assignment.
Citations and references are
used appropriately.
Citations and references
are used appropriately.
There are no mistakes in
using the Harvard style for
referencing.
There are no mistakes in
using the Harvard style for
referencing.
Rules of grammar, usage,
and punctuation are
followed; spelling is
correct.
Assignment contains few
grammatical, punctuation
and spelling errors.
Rules of grammar, usage,
and punctuation are
followed; spelling is correct.
Rules of grammar, usage, and
punctuation are followed;
spelling is correct.
Language lacks clarity or
includes the use of some
jargon or conversational
tone
Language is generally clear
and precise; sentences
display some varied
structure.
Language is clear and precise;
sentences display mostly
varied structure.
Language is clear and
precise; sentences display
consistently strong, varied
structure.
…
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