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Subject Name: ACCT6007 Financial Accounting Theory and Practice
Critical Analysis
1500 words
Context:
This assignment develops research and critical thinking abilities. It is a critical analysis/review of an academic article.
Instructions:
Download and critically analyse academic article written by Antonio Marra.
Marra, A. (2016), The Pros and Cons of Fair Value Accounting in a Globalized Economy: A Never Ending Debate. Vol 31 No. 4, pp 582 – 591, Database: Business Source Ultimate
You may use an essay format or any other acceptable academic format for critical review. APA referencing style guide is required.
Use minimum 10 academic references.
Answer the following questions during your analysis.
1) Explain and explore Pros and Cons of Fair Value (FV) accounting after conducting literature review on the topic.
2) What does the author mean by the statement? ‘the estimation follows a three-tier process, with a strict preference for market-based measures’ p586. Explain the three – tier process in detail.
3) What qualitative characteristic/s of financial information is considered in using FV method in financial reporting? FV measurement is most applicable to what element of financial statements (i.e. Asset, Liability, Owners Equity, Revenue and Expense), and to what aspect of that element?
Academic skills resources: Analysing the Brief, Essay Writing, and Critical Thinking
These resources can be downloaded from LASU - Learning and Academic Skills Unit on Blackboard following the link: