ACC518 Current Developments In Accounting Thought- newspaper article or web page
You are required to find a newspaper article or web page report of an item of accounting news, i.e. it refers to a current event, consideration, comment or decision that has been published after the 1st of June 2021. Your article could also come from one of the professional journals (such as ‘In the Black’ or ‘Acuity’). The article should not come from an academic journal. Academic journals generally do not contain news articles or articles of less than one page and are usually only published 2 or 4 times a year. Your article should also relate to a different issue to what you will be investigating in Question 2 (in other words, don’t use an article about the exposure draft you will be using in question 2). If you are having a problem ensuring that your article is from an appropriate source contact your subject coordinator.
You then need to explain the article that you have found in your own words and clearly relate the concepts, ideas and facts within the article to one or more of the theories or topics that you have studied this session. Support your analysis of the assumptions and implications of the topic or theory as appropriate with reference to sources in APA 6 style. For example, this article (PROVIDED AT THE END OF THE DOCUMENT)from The Australian in July 2018 could be linked to the topics of accounting regulation and measurement (and perhaps others). You must provide a full copy of the article or web page, with details of the source, date and page number with your answer.
You are required to find a current exposure draft or proposal for a new accounting standard (no older than 1 year) which has been opened for public comments. (These can be found on the websites of most standard-setting organisations, such as the IASB, AASB and FASB. Hint: These websites can be quite difficult to navigate, so as a first step try typing “IASB exposure draft and comment letters” / “FASB exposure draft and comment letters” into Google or other search engine of your choice). Read a sample of the comments from a range of respondents. Select four respondents, ideally from different types of organisations for example, from accounting bodies, industry, companies or corporate bodies. If you are having a problem finding suitable comments letters then contact your subject coordinator.
In your own words, supporting your evaluation with appropriate citations, appropriately referenced in APA 7 style, you are required to include the following information in the report.
• An outline of the major issues covered in the exposure draft (what is the exposure draft introducing or changing?). • An outline of the views presented in the comments letters which highlights the areas of agreement and disagreement with the exposure draft. • An assessment as to whether the comments letters can be interpreted as being ‘for’ or ‘against’ regulation, which provides relevant examples. • An interpretation of the actions of the authors of the comments letters based on each of the theories of regulation (public interest, private interest and capture) including an explanation of which theory(ies) you think best explains the comments.