This paper describes the background, design process, and implementation problems encountered during the first year of use of an asynchronous internet-based on-line assessment system on an introductory accounting course. The on-line assessment system was both summative and formative in nature and was designed to encourage and reinforce the learning of basic principles. The paper reports a positive correlation between student performance in the on-line assessments and in their final examination. It concludes with a list of issues to be considered when embarking on a venture of this sort.Internet-based online assessment, accounting, evaluation,
The paper presents the results of an analysis of the reconciliations of equity presented as part of the transition from UK Generally Accepted Accounting Principles (UK GAAP) to International Financial Reporting Standards (IFRS) by the largest UK companies. While the overall effect on equity is not significant, the effect of the change in convention on individual line items could have important consequences for financial analysis and contractual obligations. The level of variability between companies means that this change will demand attention to detail by users of financial statements. The paper provides a benchmark for comparison with companies from other accounting traditions making the transition to IFRS.
SYNOPSIS
The costs and benefits of implementing International Financial Reporting Standards (IFRS) in practice can now be examined as more countries adopt IFRS. Our survey-based study provides unique insights into the perceptions of the preparers of 305 Australian company financial reports, when companies were preparing Australian equivalents to IFRS financial statements for the first time. We analyze preparers' perceptions of the costs of the implementation process and the likely benefits arising for their companies. Our results reveal a very negative tone among respondents reflecting concerns about the problems of IFRS implementation and the low level of expected benefits. We show that the primary sources of these concerns about IFRS were the difficulties associated with specific accounting issues, the ongoing monetary costs involved, and the perceived limited capital market impact of the changes introduced.
Data Availability: Data used in the study are available from the authors upon request.
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