International Financial Accounting for Multinational Companies.

 

International Financial Accounting for Multinational Companies.

 

Group Coursework Assignment

 

This assignment is a group project in order to demonstrate students’ ability to communicate clearly

and appropriately in group essays. You are required to form yourselves into groups of five students

and to  write  an  essay based  on  academic  articles.  Students  should  join  a  coursework  group  via

Moodle no later than Thursday 4 October.

 

The entire assignment contributes 25% towards the final overall  assessment of this course.  As the

assessment  is  group  based  and  all  group  members  are  expected  to  contribute  equally,  the  same

mark  will  be  awarded  to  all  group  members.  Reassessment  opportunities  are  provided  in

accordance with School policy as applied  to assessed groupwork but as the coursework is a group

assessment, and it cannot be replicated, reassessment facilities for the coursework are unavailable.

 

Intended Learning Outcomes assessed

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

• Explain and  evaluate  the  objectives,  qualitative  characteristics,  elements  and  key  concepts  of

financial  statements,  and  examples  of  financial  accounting  in  terms  of  the  IASB  Framework

document.

• Communicate clearly and appropriately in group essays and individual written examinations.

 

 

Assignment Context

IFRS standards are set by the IFRS Foundation’s standard setting body, the International Accounting

Standards  Board  (IASB)  and  are  currently  required  in  more  than  140  jurisdictions.    The  IFRS

Foundation was established to develop a single set of high-quality, understandable, enforceable and

globally  accepted  accounting  standards  and  to  promote  and  facilitate  adoption  of  the  standards.

The mission statement of the IFRS Foundation is to bring transparency, accountability and efficiency

to  financial  markets  around  the  world.    The  IFRS  Foundation  claims  that  IFRS  standards  bring

transparency by enhancing the comparability and quality of financial information and contribute to

economic  efficiency  by  helping  investors  to  identify  opportunities  and  risks  across  the  world,

improving  capital  allocation  and  lowering  the  cost  of  capital.  (IFRS  Foundation:  Who  we  are.

Available at

https://www.ifrs.org/about-us/who-we-are/) [accessed 30 August 2018]

 

 

Required:

Critically discuss these claims by reflecting on the following questions:

• Have comparability and accounting quality improved under IFRS?
• Have cross country investment and the cost of capital been improved following the adoption of

IFRS worldwide?

 

 

Assessment Criteria

Marking will take into account the following criteria:

• Choice of literature
• Understanding of literature
• Quality of argument
• Clarity of language
• Overall structure
• Conclusion

Semester II, AY 2020-2021

 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 1,200 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).

 

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 10% must be attached.

 

 

The company name choose:

HOTELS MN.CO.INT (HMCI)

Take the reports from this website:

https://msm.gov.om/snapshot.aspx?s=HMCI