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ACC572
Preview: ACC572 : International Financial Reporting Standards (IFRS)
Course Guide
Prerequisites
Course Description
Instructional Materials
2021 Strategic Education, Inc., Version 3
ACC556 (Financial Accounting for Managers) or ACC577 (Financial Accounting)
This course focuses on the key principles of International Financial Reporting Standards and how these
standards are used for financial reporting. Differences between rule based U.S. GAAP and principle-
based accounting concepts are presented related to accounting thought, practice, problems, and
issues.
Required Resources
Online Resources Available Through the Strayer Library
For your convenience, the required course text is provided by the Strayer Library at no cost. Links to
the online library resources are also available in Blackboard via the Course Info page. You may also
search by title in the online Strayer Library.
2021. Wiley 2021 Interpretation and Application of IFRS® Standards. http://libdatab.strayer.edu/login?
url=https://search.ebscohost.com/login.aspx?direct=true&db=nlebk&AN=2471678&site=eds-
live&scope=site
The International Financial Reporting Standards Foundation. No date. The IFRS for SMEs Standards.
https://www.ifrs.org/issued-standards/ifrs-for-smes/
No author. 2010. Archived Information: Global Accounting Standards.
https://www.sec.gov/spotlight/ifrsroadmap.htm
2020 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary
information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written
permission of Strayer University.
2021 Strategic Education, Inc., Version 3
No author. No date. Comparability in International Accounting Standards.
https://www.fasb.org/international
No author. No date. International Financial Reporting Standards.
https://future.aicpa.org/topic/accounting-financial-reporting/international-financial-reporting-standards
Natalia Tkachuk. 2019. Historical Cost and Fair Value: Advantages, Disadvantages, Application.
http://libdatab.strayer.edu/login?url=https://search.ebscohost.com/login.aspx?
direct=true&db=a9h&AN=135884316&site=eds-live&scope=site
M. L. Ashoka. 2020. Accounting for Intangible Assets: An Analysis of IFRS and Non-IFRS Based
Accounting Standards. http://libdatab.strayer.edu/login?url=https://search.ebscohost.com/login.aspx?
direct=true&db=bth&AN=142016771&site=eds-live&scope=site
Verizon Media. No date. Yahoo! Finance. https://finance.yahoo.com/
Yuanyuan Guo. 2019. Equity Financial Assets: A Tool for Earnings Management—A Case Study of a
Chinese Corporation. http://libdatab.strayer.edu/login?url=https://search.ebscohost.com/login.aspx?
direct=true&db=bth&AN=135496780&site=eds-live&scope=site
Beyza Gürel. 2019. Reflections of IFRS and Translation Loss: The Case of Turkcell.
http://libdatab.strayer.edu/login?url=https://search.ebscohost.com/login.aspx?
direct=true&db=bth&AN=138626240&site=eds-live&scope=site
Optional Resources
Ammar Zahid. 2019. An Analysis of IFRS and SME-IFRS Adoption Determinants: A Worldwide Study.
http://libdatab.strayer.edu/login?url=https://search.ebscohost.com/login.aspx?
direct=true&db=bth&AN=133200060&site=eds-live&scope=site
Fuad Fuad. 2019. Does IFRS Convergence Really Increase Accounting Qualities? Emerging Market
Evidence. http://libdatab.strayer.edu/login?url=https://search.ebscohost.com/login.aspx?
direct=true&db=bth&AN=139906315&site=eds-live&scope=site
Szekeres Alexandra. 2019. Analysis of the Differences of Financial Statements Prepared in
Conformity with IFRS by Companies Operating in the Health Care Sector and Another Sector.
http://libdatab.strayer.edu/login?url=https://search.ebscohost.com/login.aspx?
direct=true&db=bth&AN=138244650&site=eds-live&scope=site
2020 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary
information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written
permission of Strayer University.
2021 Strategic Education, Inc., Version 3
Edyta Lazarowicz. 2019. The Comparability of IFRS Statements of Cash Flows in Poland. The
Influence of National Regulations. http://libdatab.strayer.edu/login?
url=https://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=135621113&site=eds-
live&scope=site
Shahid Khan. 2019. Has Adoption of IFRS Increased Non–North American Institutional Investment in
the Canadian Stock Markets? http://libdatab.strayer.edu/login?
url=https://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=136856636&site=eds-
live&scope=site
Sanel Halilbegovic. 2019. Implementation Effects of "IFRS 9 Impairment Modelling for Financial
Instruments" on Regulatory Capital Banks in Federation of Bosnia and Herzegovina.
http://libdatab.strayer.edu/login?url=https://search.ebscohost.com/login.aspx?
direct=true&db=a9h&AN=140227510&site=eds-live&scope=site
Asna A. Atqa. 2019. Has IFRSs Improves Predictions of Future Cash Flows? Evidence from Malaysia.
http://libdatab.strayer.edu/login?url=https://search.ebscohost.com/login.aspx?
direct=true&db=bth&AN=137772693&site=eds-live&scope=site
Brian Burnett. 2020. Discussion of the Effect of National Culture on the Relationship between IFRS
Adoption and Cost of Equity Capital. http://libdatab.strayer.edu/login?
url=https://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=142718250&site=eds-
live&scope=site
Shilpa Vardia. 2019. Exploring Stakeholders' Perception About IFRS: An Empirical Study.
http://libdatab.strayer.edu/login?url=https://search.ebscohost.com/login.aspx?
direct=true&db=bth&AN=134815187&site=eds-live&scope=site
Marta Pelucio-Grecco. 2020. Accounting for Bitcoins in Light of IFRS and Tax Aspects.
http://libdatab.strayer.edu/login?url=https://search.ebscohost.com/login.aspx?
direct=true&db=bth&AN=144227541&site=eds-live&scope=site
Josima da Silva. 2019. Earnings Quality and IFRS: Analysis of Brazilian Companies of the Banking
Sector Listed on the B3. http://libdatab.strayer.edu/login?url=https://search.ebscohost.com/login.aspx?
direct=true&db=bth&AN=139993457&site=eds-live&scope=site
Doddy Setiawan. 2019. IFRS and Earnings Management in Indonesia: The Effect of Independent
Commissioners. http://libdatab.strayer.edu/login?url=https://search.ebscohost.com/login.aspx?
direct=true&db=bth&AN=135613555&site=eds-live&scope=site
2020 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary
information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written
permission of Strayer University.
Course Learning Outcomes
Weekly Course Schedule
Week 1 - To Do List
Learn: Read Chapters 1, 2, and 3 in Wiley
Interpretation
and
Application
of
IFRS
Standards
2021.
Learn: Review the optional resources.
Discuss: Introduce yourself and participate in the discussion, Accounting Standards in the US and
Europe.
2021 Strategic Education, Inc., Version 3
Irina Iordache. 2020. Perceptions and Trends Following the Application of IFRS in Romania.
http://libdatab.strayer.edu/login?url=https://search.ebscohost.com/login.aspx?
direct=true&db=bth&AN=142929935&site=eds-live&scope=site
Amra Salihovic. 2018. The Usefulness of Reporting of Legal Entities in the Federation of Bosnia and
Herzegovina. http://libdatab.strayer.edu/login?url=https://search.ebscohost.com/login.aspx?
direct=true&db=bth&AN=139460025&site=eds-live&scope=site
Marcin Kedzior. 2020. Determinants of Voluntary International Financial Reporting Standards Adoption
in Poland. http://libdatab.strayer.edu/login?url=https://search.ebscohost.com/login.aspx?
direct=true&db=bth&AN=143061724&site=eds-live&scope=site
Marta Pelucio-Grecco. 2020. IFRS Adoption and Company Conservatism in Colombia and Brazil.
http://libdatab.strayer.edu/login?url=https://search.ebscohost.com/login.aspx?
direct=true&db=bth&AN=142426490&site=eds-live&scope=site
Evaluate conceptual frameworks and their impact on standards and financial
reporting.
1
Determine the differences between GAAP and IFRS accounting requirements
for financial reporting within an organization.
2
Assess how IFRS impacts business combinations including an analysis of
reporting requirements and valuation.
3
2020 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary
information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written
permission of Strayer University.
Week 2 - To Do ListWeek 2 - To Do List
Learn: Read Chapters 4 and 6 in Wiley
Interpretation
and
Application
of
IFRS
Standards
2021.
Learn: Review the optional resources.
Prepare: Use the Internet or Strayer Library to prepare for the discussion, Statement of Financial
Position's Components.
Discuss: Complete the discussion, Statement of Financial Positions Components.
Week 3 - To Do List
Learn: Read Chapters 8 and 9 in Wiley
Interpretation
and
Application
of
IFRS
Standards
2021.
Learn: Review the optional resources.
Prepare: Use the Strayer University Library to prepare for the discussion, Fair Representation and
Possibility of Fraud.
Discuss: Complete the discussion, Fair Representation and Possibility of Fraud .
Assignment: Submit the assignment, Case Study 1.
Prepare: Review the instructions for the Week 4 assignment, Intangible Assets and Investment
Property.
Week 4 - To Do List
Learn: Read Chapters 11 and 12 in Wiley
Interpretation
and
Application
of
IFRS
Standards
2021.
Learn: Review the optional resources.
Discuss: Complete the discussion, Research and Development.
Assignment: Submit the assignment, Intangible Assets and Investment Property.
Week 5 - To Do List
Learn: Read Chapters 13 and 15 in Wiley
Interpretation
and
Application
of
IFRS
Standards
2021.
2021 Strategic Education, Inc., Version 3
2020 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary
information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written
permission of Strayer University.
Week 5 - To Do List
Learn: Review the optional resources.
Discuss: Complete the discussion, Business Combinations.
Week 6 - To Do List
Learn: Read Chapters 16, 17, and 18 in Wiley
Interpretation
and
Application
of
IFRS
Standards
2021.
Learn: Review the optional resources.
Discuss: Complete the discussion, Shareholders' Interests.
Assignment: Submit the assignment, Case Study 2.
Prepare: Review the instructions for the Week 7 assignment, Impairment of Assets, Liabilities, and
Cost of Equity Capital.
Week 7 - To Do List
Learn: Read Chapters 20 and 21 in Wiley
Interpretation
and
Application
of
IFRS
Standards
2021.
Learn: Review the optional resources.
Discuss: Complete the discussion, Non-monetary Government Grant.
Assignment: Submit the assignment, Impairment of Assets, Liabilities, and Cost of Equity Capital.
Week 8 - To Do List
Learn: Read Chapters 22 and 23 in Wiley
Interpretation
and
Application
of
IFRS
Standards
2021.
Learn: Review the optional resources.
Discuss: Complete the discussion, Lease Payments.
Week 9 - To Do List
2021 Strategic Education, Inc., Version 3
2020 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary
information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written
permission of Strayer University.
Week 9 - To Do List
Learn: Read Chapters 25 and 27 in Wiley
Interpretation
and
Application
of
IFRS
Standards
2021.
Learn: Review the optional resources.
Discuss: Complete the discussion, Fair Value.
Assignment: Submit the assignment, Case Study 3.
Prepare: Review the instructions for the Week 10 assignment, Foreign Currency and Fair Value.
Week 10 - To Do List
Learn: Read Chapters 28 and 29 in Wiley
Interpretation
and
Application
of
IFRS
Standards
2021.
Learn: Review the optional resources.
Discuss: Complete the discussion, Reportable Segments.
Assignment: Submit the assignment, Foreign Currency and Fair Value.
Week 11 - To Do List
Learn: Read Chapters 33 and 36 in Wiley
Interpretation
and
Application
of
IFRS
Standards
2021.
Learn: Review the optional resources.
Discuss: Complete the discussion, Transitions From GAAP to IFRS.
Grading Scale
Participation Total Points % of Grade
Discussion Participation 220 22%
Assignment Total Points % of Grade
Week 3 Assignment - Case Study 1 80 8%
2021 Strategic Education, Inc., Version 3
2020 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary
information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written
permission of Strayer University.
Assignment Total Points % of Grade
Week 4 Assignment - Intangible Assets and
Investment Property
180 18%
Week 6 Assignment - Case Study 2 80 8%
Week 7 Assignment - Impairment of Assets,
Liabilities, and Cost of Equity Capital
180 18%
Week 9 Assignment - Case Study 3 80 8%
Week 10 Assignment - Foreign Currency and Fair
Value
180 18%
Totals 1000 100%
Final Course Grade
Points Percentage Grade
900 - 1000 90% - 100% A
800 - 899 80% - 89% B
700 - 799 70% - 79% C
0 - 699 69% and below F
Unique Course Features
Grading Scale Notation
Please consult the University Catalog and your academic advisor to determine the final grade needed in
this class to satisfy your specific degree conferral requirements.
Academic Integrity
Please be sure to review the entire Academic Integrity Policy in the Student Handbook before submitting
anything in this course. In order to enforce its Academic Integrity Policy, the University reserves the right
2021 Strategic Education, Inc., Version 3
2020 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary
information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written
permission of Strayer University.
to review any work (draft or otherwise) or exam submitted by a student during his or her entire academic
career at Strayer.
Assignments
2021 Strategic Education, Inc., Version 3
Week 3 Assignment - Case Study 1
Summary
Click the linked activity title to access this assignment.
Text
Overview
Intangible assets are non-monetary, identifiable assets without physical existence. Intangible assets
are one of the most highly valued assets for many companies. Accountants pay close attention to them
because of that value. Ashoka, Abhishek, and Divyashree (2020) study the accounting for intangible
assets by analyzing the IFRS and non-IFRS based accounting standards. Accounting for intangible
assets is studied by examining the top 10 IT companies in India, based on their capitalization.
Read the following article before you begin the assignment:
Accounting for Intangible Assets: An Analysis of IFRS and Non-IFRS Based Accounting
Standards.
Instructions
Write a 1– 2 page paper in which you:
1. Discuss at least two differences between the AS 26 and IND AS 38 and how they would impact the
financial statement in a category of your selection. Do not list the rules of them in the paper. Only
discuss the differences between two elements of AS 26 and IND AS 38.
2. Explain at least two dimensions the authors are evaluating.
Use at least three sources to support your writing. Choose sources that are credible, relevant, and
appropriate. Cite each source listed on your source page at least one time within your assignment. For
2020 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary
information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written
permission of Strayer University.
2021 Strategic Education, Inc., Version 3
help with research, writing, and citations, access the Strayer University Library or review Strayer
Library Guides.
This course requires the use of Strayer Writing Standards. For assistance and information, please
refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your
professor for any additional instructions.
Scoring Guide
Discuss at least two differences between the AS 26 and IND AS 38 and how they would impact the
financial statement in a category of your selection. 40 %
Unacceptable (Below
70%)
Did not submit or
incompletely
discussed at least two
differences between
the AS 26 and IND AS
38 and how they would
impact the financial
statement in a
category of your
selection.
Needs Improvement (70-
79%)
Partially discussed at
least two differences
between the AS 26
and IND AS 38 and
how they would impact
the financial statement
in a category of your
selection.
Competent (80-89%)
Satisfactorily
discussed at least two
differences between
the AS 26 and IND AS
38 and how they would
impact the financial
statement in a
category of your
selection.
Exemplary (90-100%)
Thoroughly discussed
at least two
differences between
the AS 26 and IND AS
38 and how they would
impact the financial
statement in a
category of your
selection.
Explain at least two dimensions the authors are evaluating. 40 %
Unacceptable (Below
70%)
Did not submit or
incompletely explained
at least two
dimensions the
authors are evaluating.
Needs Improvement (70-
79%)
Partially explained at
least two dimensions
the authors are
evaluating.
Competent (80-89%)
Satisfactorily
explained at least two
dimensions the
authors are evaluating.
Exemplary (90-100%)
Thoroughly explained
at least two
dimensions the
authors are evaluating.
2020 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary
information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written
permission of Strayer University.
2021 Strategic Education, Inc., Version 3
Use three sources to support your writing. Choose sources that are credible, relevant, and
appropriate. Cite each source listed on your source page at least one time within your
assignment. 10 %
Unacceptable (Below
70%)
Did not cite any
sources.
Needs Improvement (70-
79%)
Did not cite the
required number of
sources and one or
more sources were
not credible, relevant
or appropriate.
Competent (80-89%)
Cited the required
number of sources, but
one source was not
credible, relevant or
appropriate.
Exemplary (90-100%)
Chose three sources
that are credible,
relevant, and
appropriate. Cited
each source listed on
the source page at
least one time within
the assignment.
Clarity, writing mechanics, and SWS formatting requirements. 10 %
Unacceptable (Below
70%)
More than six errors
present.
Needs Improvement (70-
79%)
5–6 errors present.
Competent (80-89%)
3–4 errors present.
Exemplary (90-100%)
0–2 errors present.
Week 4 Assignment - Intangible Assets and Investment Property
Summary
Click the linked activity title to access this assignment.
Text
Overview
During this assignment, you are going to distinguish between GAAP and IFRS reporting in the financial
statements. You are going to focus on the intangible assets and investment property for the
comparison of this paper.
Instructions
2020 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary
information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written
permission of Strayer University.
2021 Strategic Education, Inc., Version 3
Select one company that is publicly traded and reports its financial statements using GAAP. Then
choose another company that reports its financial statements using IFRS. Provide a one-paragraph
summary about each company. The companies need to have similar products and be in the same
industry. If the company has no English financial reports, or does not have any elements of this
assignment, please choose a different company. Financial statements can be located on Yahoo
Finance.
Write at least a four-page paper in which you:
1. Explain the differences in the intangible assets reporting between GAAP and IFRS, including the
impact on the financial statements.
2. From a valuation point of view, looking at total assets, explain which company has higher value and
what role intangible assets play in the evaluation.
3. Explain the differences in the investment property reporting between GAAP and IFRS, including the
impact on the financial statements.
4. Create an argument on which reporting is more accurate. Make sure to rely on peer-reviewed
articles to establish your position.
Use at least three sources to support your writing. Choose sources that are credible, relevant, and
appropriate. Cite each source listed on your source page at least one time within your assignment. For
help with research, writing, and citations, access the Strayer University Library or review Strayer
Library Guides.
This course requires the use of Strayer Writing Standards. For assistance and information, please
refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your
professor for any additional instructions.
The specific course learning outcome associated with this assignment is:
Evaluate conceptual frameworks and their impact on standards and financial reporting.
Scoring Guide
2020 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary
information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written
permission of Strayer University.
2021 Strategic Education, Inc., Version 3
Explain the difference in the intangible assets reporting between GAAP and IFRS including the
impact on the financial statements. 25 %
Unacceptable (Below
70%)
Did not submit or
incompletely explained
the difference in the
intangible assets
reporting between
GAAP and IFRS
including the impact
on the financial
statements.
Needs Improvement (70-
79%)
Partially explained the
difference in the
intangible assets
reporting between
GAAP and IFRS
including the impact
on the financial
statements.
Competent (80-89%)
Satisfactorily
explained the
difference in the
intangible assets
reporting between
GAAP and IFRS,
including the impact
on the financial
statements.
Exemplary (90-100%)
Thoroughly explained
the difference in the
intangible assets
reporting between
GAAP and IFRS,
including the impact
on the financial
statements.
Explain which company has higher value and what role intangible assets play in the evaluation.
20 %
Unacceptable (Below
70%)
Did not submit or
incompletely explained
which company has
higher value and what
role intangible assets
play in the evaluation.
Needs Improvement (70-
79%)
Partially explained
which company has
higher value and what
role intangible assets
play in the evaluation.
Competent (80-89%)
Satisfactorily
explained which
company has higher
value and what role
intangible assets play
in the evaluation.
Exemplary (90-100%)
Thoroughly explained
which company has
higher value and what
role intangible assets
play in the evaluation.
2020 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary
information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written
permission of Strayer University.
2021 Strategic Education, Inc., Version 3
Explain the difference in the investment property reporting between GAAP and IFRS, including
the impact on the financial statements. 20 %
Unacceptable (Below
70%)
Did not submit or
incompletely explained
the difference in the
investment property
reporting between
GAAP and IFRS,
including the impact
on the financial
statements.
Needs Improvement (70-
79%)
Partially explained the
difference in the
investment property
reporting between
GAAP and IFRS,
including the impact
on the financial
statements.
Competent (80-89%)
Satisfactorily
explained the
difference in the
investment property
reporting between
GAAP and IFRS,
including the impact
on the financial
statements.
Exemplary (90-100%)
Thoroughly explained
the difference in the
investment property
reporting between
GAAP and IFRS,
including the impact
on the financial
statements.
Create an argument on which reporting is more accurate. 20 %
Unacceptable (Below
70%)
Did not submit or
incompletely created
an argument on which
reporting is more
accurate.
Needs Improvement (70-
79%)
Partially created an
argument on which
reporting is more
accurate.
Competent (80-89%)
Satisfactorily created
an argument on which
reporting is more
accurate.
Exemplary (90-100%)
Thoroughly created an
argument on which
reporting is more
accurate.
2020 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary
information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written
permission of Strayer University.
2021 Strategic Education, Inc., Version 3
Use three sources to support your writing. Choose sources that are credible, relevant, and
appropriate. Cite each source listed on your source page at least one time within your
assignment. 5 %
Unacceptable (Below
70%)
Did not cite any
sources.
Needs Improvement (70-
79%)
Did not cite the
required number of
sources and one or
more sources were
not credible, relevant
or appropriate.
Competent (80-89%)
Cited the required
number of sources, but
one source was not
credible, relevant or
appropriate.
Exemplary (90-100%)
Chose three sources
that are credible,
relevant, and
appropriate. Cited
each source listed on
the source page at
least one time within
the assignment.
Clarity, writing mechanics, and SWS formatting requirements. 10 %
Unacceptable (Below
70%)
More than six errors
present.
Needs Improvement (70-
79%)
5–6 errors present.
Competent (80-89%)
3–4 errors present.
Exemplary (90-100%)
0–2 errors present.
Week 6 Assignment - Case Study 2
Summary
Click the linked activity title to access this assignment.
Text
Overview
Chinese accounting standards and IFRS created some specific changes to the institutional
environment affecting Chinese companies based on the CAS 22. The Chinese government keeps
working with the International Accounting Standards and its convergence with International Accounting
Standard 39 (IAS 39). This is a reflection of issues that CAS 22 created. The CAS 22 requirements
(based on IFRS 9), limit the potential of companies using financial assets to manage earnings through
the tightening of requirements on the classification and measurement of financial assets. The research
2020 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary
information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written
permission of Strayer University.
2021 Strategic Education, Inc., Version 3
argues that previous rules were biased in favor of the managers and against the investors in the
classification. For example, the financial assets classification standard relies heavily on subjective
managerial holding intentions; you can see the problem right away.
Read the following article before you begin the assignment:
Equity Financial Assets: A Tool for Earnings Management—A Case Study of a Chinese
Corporation.
Instructions
Write a 1–2 page paper in which you:
1. Present at least two issues CAS 22 presents in the financial accounting reporting.
2. Explain two issues the new CAS 22 has on financial statements by reviewing equity investment and
fair value estimations.
Use at least three sources to support your writing. Choose sources that are credible, relevant, and
appropriate. Cite each source listed on your source page at least one time within your assignment. For
help with research, writing, and citations, access the Strayer University Library or review Strayer
Library Guides.
This course requires the use of Strayer Writing Standards. For assistance and information, please
refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your
professor for any additional instructions.
Scoring Guide
2020 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary
information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written
permission of Strayer University.
2021 Strategic Education, Inc., Version 3
Present at least two issues CAS 22 presents in the financial accounting reporting. 40 %
Unacceptable (Below
70%)
Did not submit or
incompletely
presented at least two
issues CAS 22
presents in the
financial accounting
reporting.
Needs Improvement (70-
79%)
Partially presented at
least two issues CAS
22 presents in the
financial accounting
reporting.
Competent (80-89%)
Satisfactorily
presented at least two
issues CAS 22
presents in the
financial accounting
reporting.
Exemplary (90-100%)
Thoroughly presented
at least two issues
CAS 22 presents in
the financial
accounting reporting.
Explain two issues the new CAS 22 has on financial statements by reviewing equity investment
and fair value estimations. 40 %
Unacceptable (Below
70%)
Did not submit or
incompletely explained
two issues the new
CAS 22 has on
financial statements by
reviewing equity
investment and fair
value estimations.
Needs Improvement (70-
79%)
Partially explained two
issues the new CAS
22 has on financial
statements by
reviewing equity
investment and fair
value estimations.
Competent (80-89%)
Satisfactorily
explained two issues
the new CAS 22 has
on financial
statements by
reviewing equity
investment and fair
value estimations.
Exemplary (90-100%)
Thoroughly explained
two issues the new
CAS 22 has on
financial statements by
reviewing equity
investment and fair
value estimations.
2020 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary
information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written
permission of Strayer University.
2021 Strategic Education, Inc., Version 3
Use three sources to support your writing. Choose sources that are credible, relevant, and
appropriate. Cite each source listed on your source page at least one time within your
assignment. 10 %
Unacceptable (Below
70%)
Did not cite any
sources.
Needs Improvement (70-
79%)
Did not cite the
required number of
sources and one or
more sources were
not credible, relevant,
or appropriate.
Competent (80-89%)
Cited the required
number of sources, but
one source was not
credible, relevant, or
appropriate.
Exemplary (90-100%)
Chose three sources
that are credible,
relevant, and
appropriate. Cited
each source listed on
the source page at
least one time within
the assignment.
Clarity, writing mechanics, and SWS formatting requirements. 10 %
Unacceptable (Below
70%)
More than six errors
present.
Needs Improvement (70-
79%)
5–6 errors present.
Competent (80-89%)
3–4 errors present.
Exemplary (90-100%)
0–2 errors present.
Week 7 Assignment - Impairment of Assets, Liabilities, and Cost of Equity Capital
Summary
Click the linked activity title to access this assignment.
Text
Overview
During this assignment, you are going to distinguish between the GAAP and IFRS reporting in the
financial statements. You are going to focus on the impairment of assets, liabilities, and cost of equity
capital for the comparison of this paper.
Instructions
2020 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary
information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written
permission of Strayer University.
2021 Strategic Education, Inc., Version 3
Select one company that is publicly traded and reports its financial statements using GAAP and
another company that reports its financial statements using IFRS. Provide a one-paragraph summary
about each company. If the company has no English financial reports or does not have any elements of
this assignment, please choose a different company. The companies need to have similar products
and be in the same industry. Select different companies that you chose in the previous assignment.
Write at least a four-page paper in which you:
1. Explain the difference in the rules and regulations for reporting impairment of assets using GAAP
versus IFRS.
2. Distinguish between the reporting of impairment of assets of each company you selected along with
the impact on their financial statements. Make sure you indicate the location of the reporting in the
financial statement and any notes the company reported about the impairment of assets.
3. Explain the difference in the rules for reporting liabilities and cost of equity capital using GAAP
versus IFRS.
4. Distinguish between the reporting of liabilities and cost of equity capital of each company you
selected and its impact on their financial statements.
5. Create an argument on which reporting has a better impact on financial statements. Rely on peer-
reviewed articles to establish your position.
Use at least three sources to support your writing. Choose sources that are credible, relevant, and
appropriate. Cite each source listed on your source page at least one time within your assignment. For
help with research, writing, and citations, access the Strayer University Library or review Strayer
Library Guides.
This course requires the use of Strayer Writing Standards. For assistance and information, please
refe