The question for Contribution 1 is: 'The use of accounting standards imposes a burden on businesses and so their use should not be compulsory' Do you agree with this statement? Do you agree with this...

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The question for Contribution 1 is: 'The use of accounting standards imposes a burden on businesses and so their use should not be compulsory' Do you agree with this statement? Do you agree with this statement? Why? For a very good mark for this question, you need to provided references ( 2 - 4 references)  to relevant materials that you have perused to answer the question  References might include newspaper reports, online articles,  a company's annual report, an academic journal article.  Referencing must use the author-date (Harvard) method. The word limit for the initial contribution: 200- 300 words, excluding references.  The question for Contribution  2 is: Kim provides coaching in mathematics for 8 to 10-year-old children.  Each class is just with one child. Parents must register their child for twelve 45 minute sessions,  each held a week apart.  The cost of each set of lessons is $480, payable in advance before the first session. Kim offers sets of classes beginning in January, April,  July, and October. Kim is very happy with the number of pupils she attracts to her coaching sessions. Kim has just told you that, whilst she has high income in January, April,  July and October, she has no income in the other eight months of the year. Is Kim correct with this statement? Explain your answer. For a very good mark for this question, you need to provided references ( 2 - 4 references)  to relevant materials that you have perused to answer the question  References might include newspaper reports, online articles,  a company's annual report, an academic journal article.  Referencing must use the author-date (Harvard) method. The word limit for the initial contribution: 200- 300 words, excluding references.  The question for Contribution  3 is: ‘Shareholders should be concerned when net cash flows from operations are negative.’  Do you agree with this statement? Why? For a very good mark for this question, you need to provided references ( 2 - 4 references)  to relevant materials that you have perused to answer the question  References might include newspaper reports, online articles,  a company's annual report, an academic journal article.  Referencing must use the author-date (Harvard) method. The word limit for the initial contribution: 200- 300 words, excluding references.  The question for Contribution 4 is: How might a comparison between budget and actual results help in the improvement of future budgeting? For a very good mark for this question, you need to provided references ( 2 - 4 references)  to relevant materials that you have perused to answer the question  References might include newspaper reports, online articles,  a company's annual report, an academic journal article.  Referencing must use the author-date (Harvard) method. The word limit for the initial contribution: 200- 300 words, excluding references.  BUSM 4155 Financial Analytics for Managerial Decisions Assessment 1 - Discussion Forums Participation Marking Rubric Criteria Fail (0 -4.9) Pass (5-5.9) Credit (6-6.9) Distinction (7-7.9) High distinction (8-10) Marks Awarded Critical Analysis (including understanding of readings and outside references)  (50%) Discussion postings show little or no evidence that readings were completed or understood. Postings are largely personal opinions or feelings, or "I agree" or "Great idea", without supporting statements with concepts from the readings, outside resources, relevant research, or specific real-life application. Discussion postings repeat and summarize basic, correct information, but do not link readings to outside references, relevant research or specific real-life application and do not consider alternative perspectives or connections between ideas. Sources are not cited. Discussion postings display an understanding of the required readings and underlying concepts including correct use of terminology and proper citation. Discussion postings display a good understanding of the required readings and underlying concepts including correct use of terminology. Postings integrate an outside resource, or relevant research to support important points. Well-edited quotes are cited appropriately. Discussion postings display an excellent understanding of the required readings and underlying concepts including correct use of terminology. Postings integrate an outside resource, or relevant research, or specific real-life application (work experience, prior coursework, etc.) to support important points. Well-edited quotes are cited appropriately.  No more than 10% of the posting is a direct quotation. Participation in the Learning Community (20%)   Discussion postings do not contribute to ongoing conversations or respond to peers’ postings. There is no evidence of replies to questions.   Discussion postings sometimes contribute to ongoing conversations as evidenced by  — affirming statements or references to relevant research or,  — asking related questions or,  — making an oppositional statement supported by any personal experience or related research. Discussion postings mostly contribute to the class’ ongoing conversations as evidenced by  — affirming statements or references to relevant research or,  — asking related questions or,  — making an oppositional statement supported by any personal experience or related research. Discussion postings mostly stimulate and sustain further discussion by building on peers' responses including — building a focused argument around a specific issue or  — asking a new related question or  — making an oppositional statement supported by personal experience or related research. Discussion postings actively stimulate and sustain further discussion by building on peers' responses including — building a focused argument around a specific issue or  — asking a new related question or  — making an oppositional statement supported by personal experience or related research. Etiquette in Dialogue with Peers  (5%)   Written interactions on the discussion board show disrespect for the viewpoints of others. Some of the written interactions on the discussion board show respect and interest in the viewpoints of others. Written interactions on the discussion board largely show respect and interest in the viewpoints of others. Written interactions on the discussion board mostly show respect and sensitivity to peers' gender, cultural and linguistic background, sexual orientation, political and religious beliefs. Written interactions on the discussion board show respect and sensitivity to peers' gender, cultural and linguistic background, sexual orientation, political and religious beliefs. Quality of Writing and Proofreading (25%) Written responses contain numerous grammatical, spelling or punctuation errors.  The style of writing does not facilitate effective communication. Written responses include some grammatical, spelling or punctuation errors that distract the reader.  Written responses are largely free of grammatical, spelling or punctuation errors.  The style of writing generally facilitates communication.  Written responses are mostly free of grammatical, spelling or punctuation errors.  The style of writing facilitates communication.  Written responses are free of grammatical, spelling or punctuation errors.  The style of writing facilitates communication. The writing is elegant.  Total Note: The criteria found on the rubric above will be used to assess the quality of your initial postings and responses to the postings and comments of peers during class discussion. Note: Initial postings are your comments based on the discussion prompt posted by the lecturer. Responses to others are your replies to your peers' initial postings. Adapted from: Online Discussion Rubric: Original rubric developed by: Lynn E. Nielsen, Professor of Education, Department of Curriculum and Instruction, University of Northern Iowa, Cedar Falls IA
Answered Same DayApr 13, 2021BUSM4155

Answer To: The question for Contribution 1 is: 'The use of accounting standards imposes a burden on businesses...

Sumit answered on Apr 13 2021
156 Votes
1.
Accounting Standard refers to a common set of principles of accounting that are mandatory to be followed by the entities for recording their financial transaction
s. It helps to understand how and when an accounting transaction should be recorded by an entity. No, I do not agree with the given statement that the accounting standards puts burden on business because of the following reasons:
(a). Accounting Standards helps to bring transparency and Uniformity in the whole accounting system. Since all the companies are following the same accounting standards, the financial reports of these companies can be compared to each other to determine whose performance was better. By bringing transparency in the accounting system, accounting standards helps prevent fraud by establishing rules and regulations.
(b). Assists Auditors: Accounting Standards help in assisting the auditors of the company in carrying their duties of auditing of the company. The auditors of the company to ensure whether the financial statements of the company are true and fair need to check whether the company has followed all the accounting standards and the manner in which the financial statements are prepared is as per the relevant accounting standard. Since all the companies are following the same accounting standards, the financial reports of these companies can be compared to each other to determine whose performance was better.
(c). Provides Useful Information: Accounting Standards help to provide useful information to the preparer of the financial statements. It provides standards rules for each and every accounting transaction. It helps to understand how and when an...
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