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ACCU 401 Advanced Accounting
Assignments
Team Project – US and Foreign Company FASB-IASB Convergence Paper
Assigned Week 3 – Due Midnight on Sunday Week 6
150 Points – Five to six-page paper
In this paper, students will review the most recent annual reports of a non-U.S. company and a U.S. company.
Select two companies that operate in the same industry.
Required
1. Identify at least three different financial statement disclosures on each annual report that are included in the FASB-IASB convergence project. This is a total of six different topic disclosures.
2. Explain and cite the disclosures made by the companies and include the annual report page numbers. 3. Research the FASB and IFRS accounting pronouncements and find the specific ones that support each of the disclosures in the company financial reports.
4. For each of the six FASB and IFRS disclosure, summarize the complementary position taken by FASB or IASB and discuss how the accounting standards differ in the accounting treatment for that disclosure topic.
Stick to the key points. Please include the pronouncement number.
Additional Information
1. It is recommended that students review chapter 11 Exhibit 11.6 “Use of IFRS in Preparing Consolidated Financial Statements June 2012” on page 528, which lists countries in which IFRS is required or permitted;
and Exhibit 11.8: “Some Key Differences Between IFRS and U.S. GAAP” on page 537.
2. The university has provided students with access to the FASB ASC “Professional View” website service. Please see the link provided in Course Information.
3. The FASB and IASB website addresses are include in the Course Syllabus Bibliography.
Please ensure that your paper includes original exposition and interpretation of your research and is not just a series of citations that were “cut and pasted” from your research sources.
Please ensure that your paper conforms to APA standards and includes citations for all sources used. Your paper will have a cover page and references page. The body of your paper will include an introduction paragraph, several analyses paragraphs, a conclusion paragraph, and a references page.
You must upload your file to Blackboard under Week6 Assignments. Go to the Assignment, scroll down to “Attach Local File” and click Browse to select YOUR file, then hit SUBMIT. Please also attach the Form 10K you used to write your paper.
ACCU 401 Advanced Accounting
Assignments
Team Project – US and Foreign Company FASB-IASB Convergence Paper
Assigned Week 3 – Due Midnight on Sunday Week 6
150 Points – Five to six-page paper
In this paper, students will review the most recent annual reports of a non-U.S. company and a U.S. company.
Select two companies that operate in the same industry.
Required
1. Identify at least three different financial statement disclosures on each annual report that are included in the FASB-IASB convergence project. This is a total of six different topic disclosures.
2. Explain and cite the disclosures made by the companies and include the annual report page numbers. 3. Research the FASB and IFRS accounting pronouncements and find the specific ones that support each of the disclosures in the company financial reports.
4. For each of the six FASB and IFRS disclosure, summarize the complementary position taken by FASB or IASB and discuss how the accounting standards differ in the accounting treatment for that disclosure topic.
Stick to the key points. Please include the pronouncement number.
Additional Information
1. It is recommended that students review chapter 11 Exhibit 11.6 “Use of IFRS in Preparing Consolidated Financial Statements June 2012” on page 528, which lists countries in which IFRS is required or permitted;
and Exhibit 11.8: “Some Key Differences Between IFRS and U.S. GAAP” on page 537.
2. The university has provided students with access to the FASB ASC “Professional View” website service. Please see the link provided in Course Information.
3. The FASB and IASB website addresses are include in the Course Syllabus Bibliography.
Please ensure that your paper includes original exposition and interpretation of your research and is not just a series of citations that were “cut and pasted” from your research sources.
Please ensure that your paper conforms to APA standards and includes citations for all sources used. Your paper will have a cover page and references page. The body of your paper will include an introduction paragraph, several analyses paragraphs, a conclusion paragraph, and a references page.
You must upload your file to Blackboard under Week6 Assignments. Go to the Assignment, scroll down to “Attach Local File” and click Browse to select YOUR file, then hit SUBMIT. Please also attach the Form 10K you used to write your paper.
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Evaluation Criteria for: Papers
Team Project – US and
Foreign Company
FASB-IASB
Convergence Paper –
150 Points
EXEMPLARY PROFICIENT DEVELOPING EMERGING
150 Points 135 Points 120 Points 105 Points
Introduction (10%)
Provides an interesting introduction to the work. Clearly states the purpose of the work and previews
major points of analysis.
Provides a mostly clear introduction to the work but does not preview major points of analysis.
Provides a general introduction to the work but does not preview major points of analysis.
Provides no clear direction or purpose for the work.
Analysis (50%) Clearly and fully states the questions or issues and responds directly and clearly using research findings. Connects to concepts presented in the textbook.
Generally, states the questions or issues and responds with answers that are mostly correct but that lack specificity.
Some responses are connected to concepts presented in the textbook.
Generally, states the questions or issues and responds with answers that are partially correct or incomplete.
Some responses are connected to concepts presented in the textbook.
Does not respond substantively to the questions or does not respond to the assignment requirements. No connection is made to concepts presented in the textbook.
Conclusion (20%) Connects to the introduction in an interesting way. Is short and encompasses all of the main points in the paper.
Somewhat connects with the introduction and the analysis sections of the paper.
The conclusion recaps the paper’s main theme but omits major points.
Does not connect with the introduction and analysis sections of the paper.
Grammar, Speech Patterns, Punctuation, and APA (20%) Clearly uses proper grammar, APA for in text citations and for all references. The paper is interesting and easy to read.
Has no more than two errors in APA, grammar and or punctuation.
Has no more than three errors in APA, grammar and or punctuation.
Has four or more errors in APA, grammar and or punctuation.
Evaluation Criteria for: Papers
Team Project – US and
Foreign Company
FASB-IASB
Convergence Paper –
150 Points
EXEMPLARY PROFICIENT DEVELOPING EMERGING
150 Points 135 Points 120 Points 105 Points
Introduction (10%)
Provides an interesting introduction to the work. Clearly states the purpose of the work and previews
major points of analysis.
Provides a mostly clear introduction to the work but does not preview major points of analysis.
Provides a general introduction to the work but does not preview major points of analysis.
Provides no clear direction or purpose for the work.
Analysis (50%) Clearly and fully states the questions or issues and responds directly and clearly using research findings. Connects to concepts presented in the textbook.
Generally, states the questions or issues and responds with answers that are mostly correct but that lack specificity.
Some responses are connected to concepts presented in the textbook.
Generally, states the questions or issues and responds with answers that are partially correct or incomplete.
Some responses are connected to concepts presented in the textbook.
Does not respond substantively to the questions or does not respond to the assignment requirements. No connection is made to concepts presented in the textbook.
Conclusion (20%) Connects to the introduction in an interesting way. Is short and encompasses all of the main points in the paper.
Somewhat connects with the introduction and the analysis sections of the paper.
The conclusion recaps the paper’s main theme but omits major points.
Does not connect with the introduction and analysis sections of the paper.
Grammar, Speech Patterns, Punctuation, and APA (20%) Clearly uses proper grammar, APA for in text citations and for all references. The paper is interesting and easy to read.
Has no more than two errors in APA, grammar and or punctuation.
Has no more than three errors in APA, grammar and or punctuation.
Has four or more errors in APA, grammar and or punctuation.