You have a choice. You must attempt EITHER Question 1 OR Question 2.
Your answer must be 1,500 words in total EXCLUDING any abstract, bibliography, or appendices.
Question 1
In his speech to the trustees of the IFRS Foundation 26 June 2019 the chief financial officer of BMW AG claimed “In other words, while implementation of new and existing standards in great detail is occupying most of our capacity, public interest is increasingly focused on forward-looking statements”.
Critically discuss the importance of changing standards, and the implications on financial reporting of an increasing focus on forward-looking statements.
Question 1 Guidance:
Students’ work is expected to consider the impact on the accounting profession, the financial statements themselves, and the users of financial statements in their work. Subjectivity has been a key theme throughout the module, and this is expected to feature prominently in the essay too.
Use of academic sources to support arguments presented is mandatory.
Students are encouraged to adopt their own approach to this essay, but as a basic guide, good work will ably demonstrate an understanding of how standards have been implemented and how they have changed over time. Alongside this narrative, students should demonstrate a critical understanding of how this has been driven by the demands of primary users of financial statements and regulatory bodies.
Question 2
“in a digital world, the focus of the finance function is shifting from being based on costs to being based on organisational value.“
Reinventing Finance for a Digital World
CGMA (Chartered Global Management Accountant)
Whitepaper January 2019
Critically discuss the effectiveness of management accountancy as a tool for adding value.
Question 2 Guidance:
Your essay should focus on the challenges facing business when making and implementing decisions. The effectiveness of one or two key management accounting techniques and concepts should feature prominently in your work, as should academic and practical evidence to support or challenge how successfully the techniques achieve their aims.
Your essay should include consideration of the evolution management accounting in practice suggested in the quote above.
Guidance on how you may approach this assessment will be provided in the lectures and workshops.
Word count 1,500, excluding abstract, bibliography and appendices.
You should use the Harvard referencing system.
