Victoria University – SydneyCollege of Business Group research assignmentAssignment instructionsThis assignment must be completed in a group of 2 – 3 members Approximate length of assignment is 2500...

Victoria University – SydneyCollege of Business Group research assignmentAssignment instructionsThis assignment must be completed in a group of 2 – 3 members Approximate length of assignment is 2500 wordsThis assignment will contribute 30% towards your final gradeAssignment must be submitted on or before Friday, 29th of May, 23.30 pmLate submission will attract 5% (1.5 mark) per day (out of the weighted mark)Extension request after at least two weeks before due date and/or without supporting document will not be considered. Assignment background: Issues in Post-IFRS Convergence Debates on whether the converged International Financial Reporting Standards have resultedin harmonised international accounting practices across countries have been growing over thelast ten years. Study based in emerging economies, such as China (He et al., 2012), Romania(Albu et al., 2014), India, Pakistan, and Bangladesh (Ali et al., 2006), South Pacific Islandcountries (Chand, 2005), United Arab Emeritus (Irvine, 2008), and Turkey (Mısırlıoğlu et al.,2013), have consistently reported the challenge of effectively implementing IFRS in thosecountries due to country-specific contextual issues. Nobes (2015) also reported challengingissues in implanting IFRS in developed countries.Assignment questions1.Prepare a report critically arguing why having a single set of accounting standards (i.e.IFRS) for a world-wise use is inherently problematic. 2.Review literature explaining the contextual issues of implementing IFRS in emergingeconomies and in developed countries. 3.Critique whether adoption and use of IFRS will lead to improved financial reportingquality. Referencing and styleAssignment must be typed using Word document, with double alignment, and 1.5-lines space. Assignment is required to use either an APA or Harvard referencing style (see VUlibrary for Referencing Style guideshttps://www.vu.edu.au/library/access-borrowing/search-browse-resources/library-guidesAssignment without proper referencing (in text and end of text) will be subject tosubstantial deduction of marks. This may result in the assignment being marked zero. BAO5535 - Group research assignment Page 1 of 4
Recommended readings for this assignment (You may use some of them if you believeappropriate)Albu, C. t. l. N., N. Albu, and D. Alexander. 2014. When global accounting standardsmeet the local context? Insights from an emerging economy. CriticalPerspectives on Accounting 25 (6):489-510.Ali, M. J., K. Ahmed, and D. Henry. 2006. Harmonization of AccountingMeasurement Practices in South Asia. Advances in International Accounting19:25-58.Chand, P. 2005. Impetus to the success of harmonization: the case of South PacificIsland nations. Critical Perspectives on Accounting 16 (3):209-226.He, X., T. J. Wong, and D. Young. 2012. Challenges for Implementation of FairValue Accounting in Emerging Markets: Evidence from China.Contemporary Accounting Research 29 (2):538-562.Irvine, H. 2008. The global institutionalization of financial reporting: The case of theUnited Arab Emirates. Accounting Forum 32 (2):125-142.Mısırlıoğlu, İ. U., J. Tucker, and O. Yükseltürk. 2013. Does Mandatory Adoption ofIFRS Guarantee Compliance? The International Journal of Accounting 48(3):327-363.Nobes, C. 2015. IFRS Ten Years on: Has the IASB Imposed Extensive Use of FairValue? Has the EU Learnt to Love IFRS? And Does the Use of Fair Valuemake IFRS Illegal in the EU? Accounting in Europe, 12 (2):153.