Question 2 -
The Senior Partner of the firm you work for has appointed you to a new role. It is now your responsibility to review upcoming accounting standards and provide a report to the partners on the proposed standard and the opinions of other industry players on the changes.
1. Find a current exposure draft or proposal for a new accounting standard 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).
2. Read a sample of the comments from a range of respondents.
3. 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.
Rationale - This assessment is designed to test your ability to:
- communicate your understanding of the topic areas; and
- be able to critically evaluate selected current financial reporting and management accounting issues.
Attachment:- Assignment Files.rar