MN3045 International Financial Accounting

MN3045 International Financial Accounting

Submission in accordance with the School of Management regulations.

 Select a company that uses IFRS and obtain its latest annual financial report. Look at the consolidated financial statements.

REQUIRED:

  1. Examine the audit report. Discuss what it says about law, accounting standards, auditing standards and any other regulations. Include reference to any mixture of national and international regulations.
  • marks)
  1. In what ways do you think that your chosen company’s consolidated reporting might have changed since the year 2000? To help you answer this, you can use the lectures, workshops, textbook and other readings.

(30 marks)

  1. (a) When applying IFRS, to what extent did your company have choices of accounting policy in its latest annual report? Distinguish between presentation choices (e.g. order of items in the balance sheet) and measurement choices (e.g. the use of FIFO or weighted average cost for inventories).

(20 marks)

MN3045 International Financial Accounting

(b) Give as many examples as you can of the policy choices which your company made.                                                                                                                                                                                                                        (20 marks)

(c) Do you think that the company’s country or industry affected its policy choices?

(10 marks)

(Total 100 marks)

You should choose a different company from those referred to in lectures or workshops.

You do NOT need to check with your teachers that your example is OK.

Word limit 2000 words.

MN3045 International Financial Accounting

 

PLEASE NOTE THAT THE WORD LIMIT IS STRICT AND, AS PER COLLEGE REGULATIONS, PENALTIES WILL APPLY FOR ANYTHING OVER 2000 WORDS.

 

SEE MARKING RUBRIC POSTED ON MOODLE.

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