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2. Develop the ability to identify and apply IFRSs principles in a variety of scenarios thus leading to fair presentation of financial performance/position.

You are required to write an analytical report on IAS 38 and IAS 40. Your report should specifically cover discussion on;

1.       Introduction covering theoretical underpinning of IAS 38 and IAS 40.

2.       Recognition and measurement criteria of IAS 38 and IAS 40.

3.       Study the financial statements of companies listed on Muscat Securities Market and analyse data regarding these two standards in terms of the impact on financial performance and financial position of the company.

4.       An appropriate conclusion.

Submission of the report will be done via Turnitin Link on MOVE. At the time of submission, you need to make sure that the assignment is your own and all the sources have been acknowledged.

Ø  Collect the relevant Information which should be clear and evident from the appropriate source for the required period.

General understanding of the various issues related to IAS 38 and IAS 40. There should be some reference to related theoretical background which should be evident in the report.

Ø  The assignment should have discussion of the ideas related to IAS 38 and IAS 40.

Ø  The report should be properly structured and most of the task should be addressed.

Ø  Conclusions should be supported with some reasoning and evidence.

Ø  The report should show some compliance to HARVARD STYLE referencing.

In order to produce high quality work (A Grade), you need to:

Ø  Recognise the severity of IAS 38 and IAS 40 for various stakeholders under current economic circumstances.

Ø  Show the evidence of exemplary understanding of relevant theory and latest research. Reference to appropriate theoretical background that provides support to your discussion.

Ø  Critical reasoning is consistently evident across the discussions. The tasks have exemplary discussion and detailed narration of the results obtained.

Ø  Show that the structure is exemplary. Execution of all task is excellent. Discussions are free of grammar or writing errors. A clear layout augments the presentation.

Ø  Organize the overall report excellently.

Ø  Provide conclusions that are supported with strong arguments which are outstanding; presents fantastic and balanced critical view; interpretation is very reasonable and objective.

Ø  Accurate use of Harvard Referencing style.

You can use them to evaluate your own work and estimate your grade before you submit.

(0 Marks)

(20 Marks)

(40 Marks)

(50 Marks)

(60 Marks)

(70 Marks)

(100 Marks)

The references do not clearly comply with the basic requirements of HARVARD STYLE format.

Information search is not adequate. Very limited resources are used to discuss the tasks. Limited and uncritical use of a restricted range of sources.

The references do not clearly comply with the basic requirements of HARVARD STYLE format. The references are inadequate to support the literature used in the report.

Sources used show limited relevance and currency.

Although the information supports the task, some of them are not properly analyzed and lack paraphrasing at some areas.

The report shows some compliance to HARVARD STYLE referencing, but shows many errors.

Very few references quoted which are inconsistent with the amount of literature used in the report.

Some sources of information are relevant while others are dated.

There is a good attempt to address the tasks.

All the tasks are discussed but one or two tasks lack focus or clarity.

The report demonstrates a basic level of HARVARD STYLE referencing, but still contains major deficiencies. No sophistication is evident i.e. Websites do not follow Harvard Referencing style.

Majority of the sources are relevant and current.

All tasks are discussed properly.

The report demonstrates a solid understanding of the basic elements of HARVARD STYLE formatting. In-text citations if presented at relevant areas will lend more appropriateness to the report.

Sources used to support the discussions are relevant and current.

Use of a wide range of appropriate sources, indicating critical awareness of their status and relevance.

The report demonstrates excellent HARVARD STYLE formatting skills. In-text citations are presented at relevant areas.

Consistent use of relevant and current sources that enhance the discussions.

Accurate use of Harvard Referencing style.

Student recognizes the concept of intellectual property, can defend him / herself if challenged, and can properly incorporate the ideas / published works of others into their own work building upon them.

Skillful use of credible, relevant and current sources of information that augments quality of discussion

Some illustrations that support the theoretical background are evidenced in the discussions.

Illustrations are provided that amplify the theoretical background.

Detailed discussion on the tasks involved and critical awareness.

Task are not properly addressed.

Limited evidence of critical evaluation of material.

Poor analysis of information. Although there is evidence for some discussion, they are discrete and lacking focus. It does not reflect critical application of the concepts to the case.

Evidence of a general critical stance. Evidence of limited critical evaluation in some areas, with some lost opportunities or misunderstandings.

Evidence of critical evaluation in some areas, although some material not evaluated.

Very good application of the information to the case. There is evidence for in-depth analysis of data. However, all tasks are not consistent in analysis and can be presented in a better manner.

Evidence of good

critical appreciation

and evaluation of

relevant theory and research and a systematic attempt to relate it to the topic

Evidence of thorough critical appreciation and

evaluation of relevant theory and research and a systematic and

creative attempt to relate it to the topic

Clear introduction, logical structure, and overall organization of the report.

Lacks cohesion and orderly flow.

The assignment has unacceptable failings in structuring and / or clarity of written expression

The report is unorganized, but can be read. Poor flow of the report structure.

The assignment has failings in structuring and / or clarity of written expression, which impair its capacity to communicate

The report is somewhat organized. The flow is not coherent and needs improvement.

While the assignment has some failings in structuring and / or clarity of written expression, these do not impair its capacity to communicate.

A generally well-structured and expressed assignment, that communicate clearly.

An assignment whose clear structure and expression significantly enhances its argument

Execution is excellent. No grammar or writing errors. Reads easily.

6

Presents hardly any recommendations, realistic, appropriate or otherwise.

Presents recommendations but these not realistic or appropriate and with little, if any, support from the analysis and concepts discussed.

·         Shows evidence of wider reading and originality

·         Strongly analytical. All important points are covered.

·         Arguments should be supported by examples and evidence, objectively presented and evaluated,

·         Well-structured and well written, without noticeable grammatical or other errors.

·         Correctly referenced

·         All main points will have been covered, though minor issues may have been omitted.

·         The work will be analytical, balanced and soundly based.

·         Examples and supporting evidence should have been included.

·         The writing should be essentially correct, without major grammatical or other errors.

·         Generally referenced correctly

Good

·         Most points will have been covered, but many finer points will generally have been missed.

·         Shows limited reading.

·         Arguments/analysis should be basically well structured and balanced with relevant examples, but with errors and gaps.

·         The writing is clear, but has errors that nevertheless do not obscure the meaning.

·         Referencing will be present but may at times be inaccurate or insufficient.

Satisfactory

·         Shows sufficient grasp of the subject to be acceptable.

·         Tends to be descriptive.

·         Examples and evidence is likely to be weak and limited.

·         Shows limited reading.

·         Referencing is likely to be absent or very poorly carried out.

·         Serious errors and omissions.

·         Very little analysis