see attached
Question 1 (Please use deferred tax under IAS 12) You also have to do a research tracker for this assignment, please see example of tracker below US GAAP / IFRS Report: ACCT 311 IFRS GAAP and IFRS address accounting processes from different perspectives. Select a topic, determine differences between US GAAP and IFRS, and discuss key issues (this is a compare / contrast report). At least four pages no more than seven single spaced and include your citations. Cover pages, abstract/ executive summary, table of contents, and annotated bibliography do not count toward page count. You may use one course topics or you may use a totally different topic. Many large Accounting Firms have extensive analyses on GAAP/IFRS issues, so check their websites for the most current information. See international perspectives section of our UMUC LEO Accounting Toolbox for key web links. Requirements The IASB has several ongoing projects that involve the review of standards and which may result in updates and/or revisions of financial accounting standards. (Please use on going project deferred tax under IAS 12) In a five page report, you should describe the project, its history (briefly), and the project's status. The final section of your report should describe the implications of the project's adoption. For example, a report might discuss a project that would result in accelerating the recognition of certain expenses and require additional disclosures. Specifically: · Familiarize yourself with the IASB project, including information on the history and background of the project and its status. · Using resources at ww.ifrs.org Also refer to www.fasb.org (includes free access to U.S. GAAP codification if you register at the Web site as explained), identify the relevant GAAP and current standards related to the IFRS issue. Discuss the proposed change (i.e., what will be different?) and the reasons for the change as explained by the IASB. · Using at least three different databases in the UMUC library (let me know on what I should research in the library for the purpose of this section), find at least five sources of information on this IFRS / FASB project. As you conduct research, identify an actual case that may have provided the impetus for this proposed change, or that would have been influenced by the proposed change. At least two sources should be from scholarly or professional journals. Document your research progress in the research log. You should explore UMUC Library resources as well as the resources of major accounting firms and organizations. · Frequently the large Accounting Firms have extensive analyses of IFRS and FASB topics. It is strongly recommended to become familiar with these websites. Occasionally they will also offer free webinars on IFRS topics. · Prepare an annotated bibliography. See sample annotated bibliography at UMUC web site http://sites.umuc.edu/library/libhow/bibliography_tutorial.cfm · Identify stakeholders and the impact of the proposed change on each of the stakeholders (comment letters may provide good insight). Deliverables Write a five page report (APA format, single spaced, standard report size, one-inch margins, and 12-pointfont) presenting the results of your work. Submit your report, research log, and annotated bibliography by the due date, or as otherwise instructed. Cover pages, abstract/ executive summary, table of content if you chose to include or bibliography / reference lists do not count toward page count. Format Submit your report and annotated bibliography as a Word document. The research tracker can be in either Word or Excel. Grading The written communication aspect of this assignment is weighted at 50 percent of the total assignment. The grading will be allocated equally in the following areas: · assignment management · organization and structure · evidence and arguments · readability, style, and mechanics · presentation · information literacy and research The annotated bibliography is graded separately from the research tracker. Sample Research Tracker The research tracker should be a columnar document. Omit the word "sample" in your actual submission. Examples are provided below. (1) No. Date Question Pursuing, Information Sought, Rationale for Search Tool or Source Used Concepts or Keywords, Terms, Phrases Search Strategy Results Decision, Action, Next Step 1 (2) Another example of a sample research tracker: Topic/Key Concepts Sources Consulted Search Terms Used Results/Comments/Notes Example: Distance learning and adults Distance education, distance learning, adult students Library catalog Distance AND (education OR learning) AND adults E-World: virtual learning, collaborative environments, and future technologies; edited by Doris Christopher, National Business Education Association, 2004 Checked out; requested via catalog 7/25 Learning Objective: Demonstrate the ability to use academic and professional databases to research and support recommendations on emerging accounting issues. Grading Rubric: Research Assessment Tool for ACCT Project Components Being Assessed Meets Expectations Minimally Meets Expectations Does Not Meet Expectations Final Student Assessment Research Log Assessment and Comments Your research log must be completed using the Sample Research Tracker. Requirements: Log uses at least three different databases in the UMUC library; consults at least five different sources, at least two from scholarly or trade journals; provides evidence of effective use of research techniques; comments show analysis in evaluation of resources. The research log substantially meets all of the requirements listed. At least one of the requirements included on the list is not addressed in the research log. More than one of the requirements is not addressed in the research log. Annotated Bibliography Meets Expectations Minimally Meets Expectations Does Not Meet Expectations Final Student Assessment Your annotated bibliography must be complete and prepared in good form. Requirements: Sources are cited in appropriate (MLA or APA, as directed by instructor) style; annotation includes useful comments on the credentials of authors and reliability of sources; sources cited are relevant to the research project and are included in your research log. The annotated bibliography substantially meets all of the requirements listed. At least one of the requirements included on the list is not addressed in the annotated bibliography. The annotated bibliography is missing more than one of the criteria listed. Report Meets Expectations Minimally Meets Expectations Does Not Meet Expectations Final Student Assessment Your report should present the results of your research. Requirements: Report is college-level writing, with appropriate format (font, margins, etc.), accurate grammar and punctuation, coherent and well-structured sentences and paragraphs, and appropriate use of accounting terminology; content includes a discussion of the proposed change, an actual case and the impact of the proposed change on that case, and stakeholder analysis. The report substantially meets all of the requirements listed. The report contains some grammar and/or punctuation errors, and/or some awkward structure; content addresses each requirement, but analysis is weak. The report contains several grammar and/or punctuation errors and/or is frequently awkward in sentence and paragraph structure; content does not address each requirement, and/or there is little to no analysis. Total Assessment and Comments Grading Rubric: Critical Thinking Assessment Tool for ACCT Project Components Being Assessed Meets Expectations Minimally Meets Expectations Does Not Meet Expectations Assessment and Comments Assignment Management The report addresses the assignment in a creative/innovative way. The report fulfills the assignment. The report does not fulfill the assignment. Analysis and Synthesis of Ideas The report demonstrates sophisticated use of analysis/synthesis of ideas and evidence. The report shows evidence of analytic/synthetic reasoning and/or evaluation of ideas as appropriate. The report uncritically accepts ideas and evidence. Proper Identification of Problems to Be Solved The report shows understanding of the nature of the problem or issue to be proven. The report identifies the problem or issue to be discussed or proven. The report does not properly identify the problem or issue to be discussed or proven. Assessment of Correctness (Truth or Falsity) of a Proposition, Idea, or Concept The report persuasively demonstrates the truth or falsity of propositions, ideas, or concepts. The report attempts to ascertain the correctness of propositions, ideas, or concepts by offering justification, evidence, or proof. The report takes propositions, ideas, or concepts at face value without justification, evidence, or proof. Marshalling Evidence and/or Argumentation to Support That View The report conclusively argues/documents a point of view. The report supports opinions with argument, evidence, or proof. The report offers unsupported or irrelevant opinions. Consideration and Evaluation of Alternatives The report considers alternatives and shows how and why they should/should not be accepted. The report considers alternatives but does not eliminate them. The report does not consider alternatives. Arrival at a Supported Conclusion The report states a clear conclusion (and alternatives if justified). The report demonstrates awareness of a conclusion to be drawn regarding the issue at hand. The report fails to draw or state a conclusion regarding the issue at hand. Presentation and Responses Meet Expectations for Communication in Form, Style, and Grammar The report substantially meets all requirements. The report minimally meets most requirements. The report does not meet expectations in more than one of the requirements. Total Assessment and Comments ===================================================================== (FOR QUESTION 2, 3, 4, 5, PLEASE USE Hewlett Packard Enterprise; NYSE: HPE) Question 2: (FOR QUESTION 2, 3, 4, 5, PLEASE USE Hewlett Packard Enterprise; NYSE: HPE) Category: Operating Activities a. State whether your corporation uses the direct or indirect method of preparing the Statement of Cash Flows and describe how the Statement would be different under these two methods. b. What are the largest increases and decreases in the operating activities section of your corporation's Statement of Cash Flows? Question 3: Category: Investing and Financing Activities 1. Explain similarities and or differences in preparing the Statement of Cash Flows using International Financial Reporting Standards (IFRS). 2. Describe investments reported on your corporation's Statement of Cash Flows in the current and most recent past year. Question 4: Accounting for Income Taxes - your SEC 10-K company Explain what you learn about the disclosures of your SEC 10-K company relating to Income Taxes. Your comments should relate to net income or loss as well as to the balance sheet treatment and disclosure in the notes to the financial statements. Additionally consider the concept of risk and the aggressiveness of positions taken. Question 5: Accounting Firm KPMG - example of Ethic Violation Issues 1. AICPA Code of Professional Conduct Go to the AICPA.org Website, locate the AICPA Code of Professional Conduct, and read the following sections: · ET Section 101 - Independence · .01 Rule 101 - Independence · .02 101-1 - Interpretation of Rule 101 2. Case study: KPMG, LLP Research KPMG Ethics Violations. An example you might use: https://www.sec.gov/news/press-release/2019-95 Also search for ethics news relating to other major accounting firms (PwC, Ernst &