ACCT $4312$: ACES Project and ACCT $5312$: Research Project

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Requirements

$$ Precise and concise writing.

$15$ pages.

$$ Single$-$spaced.

$$ Font size is $12$ points.

$1$ inch left$/$right and top$/$bottom margins.

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ACCT $4312$: ACES Project $(50$ points $/5\%)$

US GAAP and IFRS use the accrual basis for accounting. Topics include$$but not limited to$$

$$ Define accruals and provide some examples of accruals.

$$ Explain how the accrual basis improves the usefulness of accounting information for valuation and evaluation.

$$ Explain how the accrual basis gives rise to intentional and unintentional accrual estimation errors by managers.

$$ Discuss potential ways of measuring accruals and accrual quality.

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Background readings

$$ Dechow, Patricia M$.$ "Accounting earnings and cash flows as measures of firm performance: The role of accounting accruals."$$Journal of Accounting and Economics$18,$ no$.1(1994)$: $3-42.$

$$ Dechow, P$.$M$.$ and Dichev, I.D$.,2002.$ "The quality of accruals and earnings: The role of accrual estimation errors."$$The Accounting Review,$77($s$-1),$ pp$\mathrm{.}35-59.$

$$ Fang, Jing., Henock Louis, and Phong Truong. "Accounting information quality and return: When Sanford J$.$ Grossman and Joseph E$.$ Stiglitz $[1980]$ meet Fischer Black $[1986]."$ Working Paper $(2023).$

$$ Larson, Chad R$.,$ Richard Sloan, and Jenny Zha Giedt. "Defining, measuring, and modeling accruals: a guide for researchers."$$Review of Accounting Studies$23(2018)$: $827-871.$

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ACCT $5312$: Research Project $(50$ points $/5\%)$

Accounting for insurance contracts and accounting for financial instruments are among the most complicated accounting standards. Students enrolling in ACCT $5312$ are required to write a research report on accounting for insurance contracts OR accounting for financial instruments. Topics include$$but not limited to$$

$$ What is the FASB accounting standard including ASC codes for it$?$

$$ Why is it complicated?

$$ What background knowledge is required to understand and master it$?$

$$ What is the job prospect for experts on it$?$

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Background readings

$$ FASB: ACCOUNTING STANDARDS UPDATES ISSUED, https:$//$www$.$fasb.org$/$page$/$PageContent$?$pageId$=/$standards$/$accounting$-$standards$-$updates$-$issued.html

$$ IFRS $17,$ https:$//$www$.$ifrs.org$/$issued$-$standards$/$list$-$of$-$standards$/$ifrs$-17-$insurance$-$contracts$/$

$$ IFRS $9,$ https:$//$www$.$ifrs.org$/$content$/$dam$/$ifrs$/$publications$/$pdf$-$standards$/$english$/2021/$issued$/$part$-$a$/$ifrs$-9-$financial$-$instruments.pdf

$$ www$.$efinancialcareers.com, Input the related accounting standard codes and select the working location. For instance, input IFRS $17$ or IFRS $9$ and select London or Hong Kong.