Major requirements:

i. Undertake a review of literature to develop and present your arguments, with examples, explaining how corporate crises/failures in every era lead to improved accounting regulations/standards for financial reporting in the subsequent periods.

ii. Critically evaluate, with appropriate examples, how accounting standard setting in the past came through a complex political process in global context.

iii. Carefully read the annual report of the selected ASX company and then identify the accounting standards complied with while preparing financial statements. Introduce each of these accounting standards.

iv. Based on a review of literature, critically evaluate the accounting standard for fair value accounting.

1. Introduction and executive summary 2 State the purpose of the report, research plan (how you progressed) and gist of findings.

2. Explanation of how corporate crises/failures in every era lead to improved accounting regulations/ standards for financial reporting in the subsequent periods (800 words) 8 Develop your arguments giving examples of at least two eras of corporate crises/failures and post-crisis (failure) developments in accounting regulations/standards.

3. Critical evaluation of the political process of accounting standard setting (800 words) 8 Develop a critical evaluation of the lobbies/influences in the accounting standard setting process. Give examples in US/Australian/global context.

4. Identification and introduction of the accounting standards complied with by the selected company

5. Critical evaluation of the accounting standard for fair value accounting