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会计代写|AcF 212: Principles of Financial Accounting Coursework



For each of two topics, being a) inventories (including Cost of Goods Sold (COGS)) and b) Property,Plant and Equipment (PPE) (including depreciation), explain three things:

1. How each would be accounted for using the ideas inherent in a ‘traditional’ (i.e., pre-IASB CF) approach (as outlined in lectures).

2. How each would be accounted for if the main ideas of the IASB CF were used (as outlined in lectures).

In the above two points, you should explain the concepts underlying the accounting described, iden tifying those that would have the greatest impact on the accounting and those that would have little impact.

3. How the current standard for each topic (inventories (IAS 2) and PPE (IAS 16), as specified above) requires accounting to be done, and thus assess which view, traditional or CF-influ enced, predominates today?

For point 3, you should explain the concepts underlying the accounting described, identifying those that have had the greatest impact on the standards and those that have had little impact.

In doing the above, you should consider:

• the impact of IAS 36 on Impairments; and

• the impact of the different accounting approaches on the figures the figures to be reported in both the Statement of Financial Position and the Statement of Comprehensive Income.

Mark allocation

Contextual information about the IASB CF highlighting how the CF’s approach differs in important areas from ‘traditional’ accounting. (20 marks)

The analyses specified in the three numbered points above. (60 marks, being 10 marks for each of inventories and PPE, as specified above, for each of the three points.)

Presentation: Being a stickler for doing things properly, Watt expects good presentation, use of ap propriate report format, good grammar, correct spelling and punctuation, etc. (10 marks)

Referencing: Watt will want to read at least some of the sources that you use in your report so you must use high-quality source documents, academic and practitioner journal articles, textbooks, etc. and reference these using the correct Harvard format. (10 marks)


As a starting point, it is suggested that you consult the following:

• Lecture slides, videos and notes on the IASB CF and on specific financial reporting topics

• Workshop notes and solutions on the IASB CF and on specific financial reporting topics

The textbook (Melville) on the IASB CF and on specific financial reporting topics. These will serve only as a starting point; you will undoubtedly have to consult other sources to clarify your thinking and understanding and hence to be able to produce the report as required by Watt. Potential sources of information and further reading include (but are not limited to):

• Documents published by the IASB, e.g., the Conceptual Framework (CF) and related documenttation, e.g., Basis for Conclusions, plus the current accounting standards in the two areas spec ified. These documents are available via eIFRS as explained in the course outline and in work shops.

• Professional (practitioner) journals, such as ‘Accountancy;’ approachable academic journals such as ‘Accounting Horizons,’ ‘Accounting and Business Research’ and ‘Abacus;’ and the more ‘dense’ academic journals such as ‘Journal of Accounting Research,’ ‘Journal of Accounting and Economics’ and ‘The Accounting Review.’ E.g. the two articles in the Week 2 reading by Sprouse and Dichev and others such as “Does LIFO Inventory Accounting Improve the Income Statement at the Expense of the Balance Sheet?” by Ross Jennings, Paul J. Simko and Robert B. Thompson II (Journal of Accounting Research, Vol. 34, No. 1 (Spring, 1996), pp. 85-109.

• A useful source of unpublished academic work is you will need to create an account to access papers but this is free.

• The University Library’s ‘OneSearch’ facility.