in concluding the chapter on accounting for intangibles to many 465372

1 MAA725 – ADVANCED ACCOUNTING PRINCIPLES AND PRACTICE COMPULSORY WRITTEN ASSIGNMENT TRIMESTER 3 -2013 DUE DATE: MONDAY 13 th January, 2014, BEFORE 11.59PM (AEST) MARKS: 40% Assignment Task: “In concluding the chapter on accounting for intangibles, to many observers it does appear that for the sake of enhancing international comparability Australia has embraced a less than ideal accounting standard” (Deegan 2012, p.283). You are required to: -Discuss and analyse the above statement relating it back to the qualitative characteristics in the IASB Conceptual Framework such as relevance, reliability, comparability, verifiability, timeliness and understandability whilst relying on a theoretical framework which was discussed in Topic 1. -Your discussion should address intangible assets (AASB 138) and examine the immediate expensing of all expenditure of the research component of R&D and explain how capitalisation of development expenditure is met. Additional Information: Since this is a group assignment a clear segregation of tasks can be initiated from the beginning. One member can handle the IASB Conceptual Framework. Another member can examine and explain AASB 138 and the third member can link both the IASB Conceptual Framework and AASB 138 into a theoretical framework using theories discussed in Topic 1. General requirement: This assignment comprises 40% of the total assessment in MAA725. The assignment is to be completed as a Group assignment (maximum 3 people per group). The number of words is 3,000 excluding the reference list, appendices and the cover page. The actual word count must be stated on the cover page of the assignment. A deduction of 2 marks from marks allocated to this assignment will apply if the number of words is under by more than 10% of 3,000 words or over by more than 20% of 3000 words. Word limits allow the student to structure the assignment to allow for the preparation of an informative yet succinct report. 2 The formation of a group must be…