The following has two assignments namely;
1.Market revolution and the process of westward expansion from 1815 to 1850
CHOOSE ONE OF THE FOLLOWING FOUR QUESTIONS:
1) What was the “market revolution?” Describe how the American economy developed roughly between 1815 and 1850. What were the driving factors of this new economy? How did Americans make
their living? Which American presidents did the most to move this market economy forward?
2) Describe the process of westward expansion from 1815 to 1850. What effect did it have on American life, in terms of the economy and the Native Americans that settlers encountered upon
moving westward. What was manifest destiny realty about, and what forces in American society pursued this idea? How did expansion affect north/south relations?
3) Discuss the causes (economic, social, religious, and other) of sectionalism from 1815 to 1860. Describe the major events of the 1850s that directly led to the Civil War. Could the war have
been avoided or was it inevitable result of deep divisions in American society?
4) Write an essay that describes how the Civil War unfolded, including the style of fighting and the major battles. Describe in detail the advantages disadvantages of both the North and the
South. Was the war’s outcome inevitable? If not, what could have changed the outcome of the war? How did the war finally come to a resolution, and what were long-term effects of the conflict?
2.Client Brief + Audio Visual Presentation
Choose from one of the below topics to construct a briefing presentation and document
Topic Option 1
2
You are a graduate accountant of a second tier accounting firm and your senior partner has
approached you regarding concerns from a client.
The client, Ms Juliet Marker, has concerns about the objectivity of financial reports. Her belief
was that the information provided in an annual report was very objective, however it has been
brought to her attention that financial accounting requires the use of significant professional
judgement. Ms Marker is unsure what this actually means and how this can impact on financial
reports. Ms Marker was also of the understanding that profit was something ‘real’ however she
has concerns that this is not possible due to the influence of accountants/managers having to
rely on professional judgement and therefore this could suggest that accounting information is
actually ‘constructed’. Ms Marker believes that this would ultimately present information that
is unreliable.
In view of these concerns from the client, your senior partner has asked you to prepare a brief
to explain to Ms Marker the issue of accountants/managers using professional judgement. In
doing so, you need to allay any concerns expressed by the client regarding the issue of
presenting unreliable information. Explain to Ms Marker some of the potential issues with
reliance on profit as an objective measure of performance. In doing this, it would also be helpful
for you to address the comment that profit is ‘constructed’ and how subjectivity may not impact
on the quality of the financial information presented. The use of examples is encouraged.
You must present an engaging and informative 10 minute briefing for your senior partner to help
the client understand the nature of this issue in addition to providing the partner with a short
1000 word brief that he can also distribute to the accounting team.
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Topic Option 2
You are a graduate accountant of a second tier accounting firm and a client has advised your firm
of their decision to acquire certain offshore companies.
The client Mr Joseph Dyson, the CEO from TechcorpAust, has indicated that TechcorpAust has
identified overseas companies that could complement their current business strategies and
contribute to the overall financial performance of the group. While Mr Dyson is aware of the
standardisation of international accounting standards, he is unsure as to whether this will/can
standardise actual accounting practice. He is concerned that this may not be realistic for his firm.
Mr Dyson would like to be made aware of relevant issues that could affect the ongoing
management of any overseas operations concerning financial reporting. In particular, he is
questioning whether there is any flexibility within international accounting standards adopted by
different countries that could impact on the preparation of the parent company’s financial
statements. While acquiring foreign operations would provide long term benefits for the group,
this could be minimal if there were considerable differences in the reporting of financial
information.
You have been asked by a senior partner to prepare a briefing presentation addressing the
concerns of the client. You need to advise the client on the differences with financial reporting
that could be anticipated with the acquisition of any foreign entities and how this could ultimately
impact on the Group’s financial reports. Explain to the client what issues there are with
standardising international accounting practice with reasons why this may be the case. You need
to explain to the client why or why not accounting practice can be standardised across foreign
borders and support this with relevant examples.
Your managing partner has requested for you to be sensitive to the needs of this client and
present an engaging and informative 10 minute briefing in addition to providing a short 1000
word brief that can be distributed to the accounting team.
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Topic Option 3
You are a graduate accountant of a second tier accounting firm and a senior partner has come to
you regarding concerns raised by one of the firm’s clients.
The client, Mrs Sally Famous, CEO of Munchkins has recently been reviewing the financial reports
that were prepared for her by your firm for the previous financial year. It has only now come to
her attention that there are many different methods of measurement used for the various
elements included in the financial statements.
Mrs Famous is confused as to why this would be necessary and how this impacts on the reported
earnings and results of her company. Mrs Famous would like to know if it is possible for only one
method of measurement that could be used when preparing the financial statements. Mrs
Famous is concerned that this may impact on the users of this information being able to
efficiently and effectively understand the financial performance and position of the company and
ultimately use this information for comparative purposes.
Your managing partner has asked you to prepare a briefing presentation to present to the client
on why there is a need for the use of different methods of measurement when recognising items
in the financial statements and importantly as a recent graduate to apply your judgement on
what this means for the preparation of the financial statements. You need to address the
concerns of the client in relation to how this impacts on the efficiency and effectiveness of the
information provided and specifically address the issues of ‘decision usefulness’ and
‘stewardship’. It would also be useful if you provided simple and relevant examples to support
your discussion.
Your managing partner would like you to be sensitive to the needs of the client and present an
engaging and informative 10 minute briefing in addition to providing her with a short 1000 word
brief that she can distribute to the accounting team
