UNIVERSITY OF ESSEX
BE130 Current Issues in Financial Reporting
2023 February
INDIVIDUAL COURSEWORK 1
DUE DATE: 5 MARCH 2023
COURSEWORK QUESTION
(This coursework holds a 20% weighting)
“As a result of the fact that financial activity across borders is increasing, the role of
the International Financial Reporting Standards published by the International
Accounting Standards Board has today become more and more significant.” (Toth,
2016, p. 836)

Toth, R. (2016) The Growing Importance of International Financial Reporting Standards. Economic
Science, 25(1), pp. 834-840.
Required
Critically evaluate the above statement and discuss whether implementing a global
set of financial reporting standards is realistic and practical in the current economic
context. Justify your arguments with current (within the past 10 years) and relevant
research.
2
Please read the following instructions carefully:

• The minimum word count of the essay is 1,000 words (excluding list of
references, tables/pictures and appendices). In-text citations are included in word
count.
• >10% is permitted but the essay should not be less than 1,000 words which is
the minimum. Any essay that exceed this limit may be penalised by marking it
down one grade lower (e.g., from B to B minus).
• You must indicate total word count on the first/cover page.
• There should be at least eight (8) references which includes reference texts and
journal articles.
• Essays must be typed with 12pt Arial and 1.5 spaced.
• Essays should be written in an appropriate academic format. The following
structure is suggested:
o Introduction (100-150 words) – i.e., Identify the key focus/purpose of your
essay, and signpost the points that will be discussed in the essay.
o Content (700-800 words) – i.e., ideas and elaboration with appropriate sub-
headings
o Conclusion (100-150 words) – i.e., include a summary of the key points
illustrated in the essay and indicate whether you agree or disagree with the
statement of the essay questions by explaining the reasons why.
o References – Harvard referencing format is recommended. You are
encouraged to use reference management software (e.g., Endnote,
Mendeley, etc.) where possible.
o Appendices – if applicable

• Remember that essays that obtain high marks will demonstrate that they have
engaged in the descriptive, analytical and reflective/critical requirements of the
question.
3
First class 72-95 Content
Relates very well to the issue discussed, identifies relevant examples.
Clearly explains the students understanding of the topic, demostranting that the student has a good knowledge of the topic .
Analysis
The student has very well discussed and debated the the topic.
In the analysis the student debates the topic from different perspectives.
The topic is critically analysed, by questioning assumptions, generalisations, and identifying bias related to the topic.
Structure
It is very well written, clearly organized and clearly structured with an introduction, main body and conclusion.
Referencing format is used correctly.
Upper Second
Class 62-68
Content
Relates well to the quote and the key topic, identifies almost the mostly relevant examples.
Clearly explains the students understanding of the topic Demonstrates a mostly sound understanding of the topic.
Analysis
The student has very well discussed and debated the the topic.
It provides an attempt of a critical analysis perhaps with some considerations missing. It provides a good attempt of
highlighting different perspectives.
Structure
It is well written, organized and structured with some imprecisions. Referencing format is mostly used correctly
4
Lower Second
Class 52-58
Content
It does relate to the quote and topic to some extent but not completely.
May have used examples, but perhaps they are not completely relevant, or has not used examples enough/at all.
At times demonstrates an understanding of the topic but there are some parts missing in the
assignment, or the understanding is not entirely correct. There are some relevant points
made, but the understanding is limited and requires further elaboration in terms of context
and background.
Analysis
It provides some discussion and attempts of detating the topic, by providing a good summary.
It provides a very limited evidence of critical analysis with
respect to different perspectives and the key issues. It does
not analyse very well the relevant issues, or
misunderstands the issues, and is limited in analysis.
Structure
It is not well written and not well organized with a poor structured (jumps from topic
to topic without any clear structure or signposting). Referencing format has some
limitations.
Third class 42-
48
Content
It does relate to the topic to little extent.
The student does not draw on examples clearly or at all.
The student has not identified context or background in the assignment.
It demonstrates that the student has a very little understanding of the topic

5
Analysis
The student has discussed the the topic, but with very little details. The strudent has discussed the argument from only one
perspective.
The answer is mainly descriptive, with no attempt of critircal analysis.
Structure
It is badly written and poorly structured, with lacks coordination. The reference format is poor.
Fail 0-36 Content
It does not relate at all to the quote.
Not demonstrated an understanding of the topic or key issues.
Analysis
The student has not discussed the topic. Critical analysis is entirely missing.
Structure
It is badly written with serious grammatical mistakes and lack of clarity. It is very poorly structured and completely lacks
coordination. The reference format is inadequate.