Message posted to electronic discussion forum – problem-based learning report on the topic of the ‘UK Accounting Regulatory Framework’
Message posted to electronic discussion forum – problem-based learning report on the topic of the ‘UK Accounting Regulatory Framework’
Firstly the advantages of having theASB: The Accounting Standards Board "is the body that sets UK accounting standards, it is recognised for this very role under the Companies Act 1985 and it is a subsidiary body of the Financial Reporting Council" (Global Investor 2006). I will not go into anymore detail than this about the ASB as this coincides with another learning objective that has been set. Supporters of the Accounting Standards Board have claimed its advantages are that it is "an independent body in that its moves are transparent and public. Through that transparency and openness, accountability is improved." (Parliament 2000a). So the first advantage is that it is very much separate from main government control in that it is not directly influenced by them and its board members can be held more accountable than previously to improve its working and function.
The second argument for the ASB is that it is flexible and able to adapt to up and coming issues and developments that may arise during its operation, an example of this can be seen "Amendment to Financial Reporting Standard for Smaller Entities in 2006" (ASB 2006).
The third advantage is that the ASB is specialized in the subject matter it is employed to consider, this would be a disadvantage of government control and as one critic of government control has put it, if it were under government control Ministers "would have to be properly briefed. If they had to be properly briefed, their civil servants would have to ensure that they too were properly briefed" (Parliament 2001b) thus highlighting the major difficulties on government control of accounting standard setting.
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ASB (2006) Amendment to Financial Reporting Standard.http://asb.frcpublications.com/product.asp?productID=162. Date Accessed 11th October 2006
Global Investor (2006) Financial Terms And Glossary. http://www.finance-glossary.com/terms/Accounting-Standards-Board.htm? Date Accessed 11th October 2006
Parliament (2001a) House of Commons Hansard Debates for 29 Feb 2000 (pt 27). http://www.parliament.uk/index.cfm. Date Accessed 11th October 2006
Parliament (2001b) SpeechCST102060321 .http://www.parliament.uk/index.cfm. Date Accessed 11th October 2006
This is a well structured piece of writing which argues three advantages to the present role of the ASB. For a post to an electronic discussion forum the language and grammar are acceptable. There is an element of explanation. It shows the ability to summarise information and link evidence.
The definition follows immediately after the acronym, so no confusion is possible.
âFirstlyâ tells the reader to expect more than one point, and be ready for âsecondâ, âthirdâ etc to mark distinct new points in the argument.
This sentence gives a brief description of the role of the Accounting Standards Board, the main subject of the piece of writing. This is a good way of avoiding the first person pronoun (I), which is not normally used in academic writing. Whilst in an electronic discussion forum it is acceptable to use âI, this task asked for an academic style.
Here the first person pronoun âIâ is used to explain why the writer is excluding certain material. In an electronic discussion forum it is acceptable to use âIâ and it is necessary in this context.
Even in an email it is good practice to reference direct quotations as well as any evidence that the reader may want to follow up.
The use of a direct quote to describe the first advantage gives some authority to the piece of writing and supports the analysis in the final sentence of this paragraph.
Note that when referencing electronically sourced documents the last date of access should be included with the reference.
The references are presented in alphabetical order with the author of the documents followed by the year. Where there is more than one document by the same author in the same year it is usual to use âaâ, âbâ, etc to differentiate between references, in the order they appear in the main text.
The function of this sentence is to explain and analyse the advantage claimed in the quotation.
This time an example is used rather than a quotation to support the claimed advantage.
This time a counter-example is used to support the claimed advantage (i.e. demonstrating a negative outcome if this advantage were lost).
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