Higher College of Technology, Muscat:

Semester II, AY 2020-2021

BAAC4102: INTERNATIONAL ACCOUNTING STANDARDS:

Coursework Assignment:

This assignment is an individual project that will allow the students to demonstrate their ability to work on practical assignments and creating structured essays.

The entire assignment contributes 15% towards the overall assessment of this course which totals up to 15 marks.

Intended Learning Outcomes assessed 

As a result of participating in this assessment, students will be assessed on the following outcomes:

• The application and use of IFRS in preparation and presentation on financial statements.
• Able to critically evaluate and create reports and structured essays

Assignment Topic:

IFRS Standards provides a high quality, internationally recognized set of accounting standards that bring transparency, accountability and efficiency to the current era of financial reporting. Over years it has certainly laid down a strong foundation that has successfully set high standards for financial reporting.

The students taking into consideration the knowledge gained by them through this course should be able to understand and critically evaluate the effect of such standards on preparation and presentation of financial statements.

Required:

A structured essay on the application and use of conceptual framework of financial reporting, IAS 1, IAS 2, IAS 7 , IAS 16, IFRS 15 & IAS 36 in preparation and presentation on financial statements.

The students are required to prepare a report on the details collected for the year 2020. Such report should be based purely on the annual statements taken from MSM website.

The report should be clearly summarizing your understanding on topics stated above and how they are used in the preparation of financial statements. Credit will be given to originality and creativity of writing the summary rather than copying it from the financial statements. It is up to the students to understand and encrypt all the possible information that can be derived on the given topics from the financial statements.

The assignment will be submitted with:

• A cover page providing the details of the student and section
• A content page
• And relevant points mentioned above in order.
• The students can add necessary tables to support the information presented in the summary

Choosing the company:

In case the same company is selected by 2 or more students then they need to sort this out within themselves and identify a company which is not been taken by anyone else.

Students are not allowed to choose banking, insurance, financial services, educational institutions and Government Company. Only companies whose financial statements are listed on MSM are to be chosen.

Assessment Criteria:

Marking will take into account the following criteria:

• Choice, Understanding, Quality and Clarity of discussion
• Overall structure
• Conclusion
• Presentation

Length, Format and submission details:

The essay should be minimum 1,000 words and should not exceed 1,500 words in total. The essay needs to be typed following APA format.  The word count does  not  include  front  page, footnotes,  tables,  graphs,  references  and  appendices  (if  any).

The coursework must be submitted by 12 noon on 03ed April 2021

Submissions will be made in soft copy on e-learning. Submissions made after the deadline will not be accepted.

A turnitin report showing a maximum limit of 15% must be attached.

For any details contact on [email protected]