Accounts Assignment Sample on International Accounting Standards

Accounting is a broad subject to study which has a lot of subsets and international accounting is of them. The traditional accounting standards that were issued by the International Accounting Standards Board (IASB) are known as International Accounting Standards. Now, it is replaced by the International Financial Reporting Standards (IFRS).

As per our accounting assignment help experts, the primary goal of establishing these standards is to draw comparisons between different business organisations all across the world. In this process, the financial report gains transparency and trust, which is the main reason for enhancing global trade and investment.

At My Assignment Services, we bring in the best reference assignment solutions of the questions that are based on the concept of international accounting standards. With these, we guide students on making informed economic decisions that cover the areas of investment opportunities and risk management so that the resources can be allocated properly. Let us understand this better with the help of the accounting assignment sample in this blog.

There are two tasks that you have to complete in this assessment. First, a scenario is given based on which you need to write the solution for perfect international accounting standards.

Let us see the scenario first.

As you can see, the scenario involves the concept of goodwill and also the code of ethics that are followed. In this international accounting standards assignment, students are expected to comment on replacing the impairment-only approach with the amortisation approach.

Now our finance assignment help experts would explain to you about them in brief so that you can easily proceed with the two tasks for this assignment.

Impairment-only approach

The goodwill impairment approach is a charge that accounting companies look after. This usually comes up when a value known as the goodwill’s carrying value exceeds the fair value in a financial statement.

So, in a way, when a specific organisation gets assets and liabilities at a cost price way much more than their actual value, it is known as the impairment-only approach.

Amortisation approach

Coming to the next approach, the amortisation approach is an accounting technique that is used by financial consultants to lower the book value of a loan for a fixed period. When someone pays off the debt at regular intervals, it is known as amortisation.

Now that you are clear with both these approaches, we are good to go. Let us proceed with the tasks that you need to complete for this international accounting standards assignment.

The Assignments On International Accounting Standards

The first task is to draft a memo and the other task is to draft a letter. We will discuss both of these in detail. Our accounting assignment help experts have guided students on both of these tasks.

Memo

In the first task, students are required to write a memo to one of your colleagues who is working with you at your accounting firm. In this memo, our accounting assignment writers explain all the issues that have been raised in the IASB’s “goodwill and impairment”.

Also, we comment upon whether amortisation of goodwill would be a better alternative than impairment-only approach or not. After conducting thorough research, we inform it with a critical analysis of both the discussed approaches. Our accounting assignment writers also pay extra attention that all the documents used for this assessment are in accordance with the IASB documents.

Letter

The next task for this assignment is to draft a personal letter to one of the client’s for whom you are working. The client chosen should be such that he is affected by the IFRS project.

Using the following information,

Our accounting assignment help experts explain the impact of the developments that have taken place on the name of IASB. While our experts use the amortisation approach, we assume the goodwill to be 10 years.

So, this brings an end to the two tasks that you will need to write for this international accounting standards assignment. However, this is not the complete solution of the file. In case, you wish us to guide you with the complete solution file of this, or any similar kind of assignment, then you just need to approach us with all the requirements of the assignment.

Having scholarly degrees from a number of reputed institutions all over the world, we have gained immense knowledge on all the crucial concepts of international accounting standards and this is why our accounting assignment help experts are fully geared to assist you with them.

Our Accounting Assignment Writing Expert Will Make Such Assessment Tasks Easier For You!

Over a span of ten long years, our accounting assignment writers now have a strong grip over all the different kinds of assignments that students have brought to us. At My Assignment Services, we take care of all the requirements of students. This is why we keep on updating our range of value-added services for you. In addition to the high-quality reference assignment solutions that you can get your hands on from us, you can also grab amazing value-added benefits like a free copy of the Plagiarism report at no extra cost, unlimited revisions, multiple quality checks, partial work for free and many more.

Our round the clock assistance is what sets us apart among the crowd. You can even bring all your assignment-related queries at the last moment as we never hesitate to cater to the urgent requirements of students. To know more about our accounting assignment writing services, talk to our customer care team right away.