StudyDaddy Accounting 7-2 Final Project Milestone Four: IFRS Report Submit a draft of your IFRS report. You will determine whether Trinity is in compliance within the industry standards and aligned functionally with both e

7-2 Final Project Milestone Four: IFRS Report Submit a draft of your IFRS report. You will determine whether Trinity is in compliance within the industry standards and aligned functionally with both e

ACC675MilestoneFourGuidelinesandRubricForMilestoneFour,youwillsubmitadraftofyourInternationalFinancialReportingStandards(IFRS)report.YouwilldeterminewhetherTrinityIndustriesisincompliancewithintheindustrystandardsandalignedfunctionallywithbothefficiencyandeffectivenessofcontrolsthroughtheuseofcurrentauditandinternalcontrolstandards.Stateallassumptionsandconclusions.Prompt:PrepareareportonTrinity’scompliancewithindustrystandards.Specifically,thefollowingcriticalelementsmustbeaddressed:V.IFRSa)Whataretheimplicationsofachangeinaccountingstandards?Forexample,whatkindsofchangestodatacalculationandinformationreportingarelikelytooccurwithatransitiontoanewstandard?b)WhatchangeswillberequiredforTrinitytoimproveinternalcontrolcompliance?c)WhatstandardswillaffectTrinityasaresultofIFRS?d)Discusseachinfrastructure’sroleinsupportingacomplianceprojectlikeIFRS:1.WhatconstitutesTrinity’sgovernanceinfrastructure?2.WhatconstitutesTrinity’sITinfrastructure?3.WhatconstitutesTrinity’sprocessinfrastructure?GuidelinesforSubmission:YourIFRSreportmustbesubmittedasa1–2-pageWorddocumentwithdoublespacing,12-pointTimesNewRomanfont,one-inchmargins,andatleastthreesourcescitedinAPAformat.CriticalElementsProficient(100%)NeedsImprovement(75%)NotEvident(0%)ValueIFRS:ChangeDiscussestheimplicationsofachangeinaccountingstandardsDiscussestheimplicationsofachangeinaccountingstandardsbutdiscussioniscursoryorcontainsinaccuraciesDoesnotdiscusstheimplicationsofachangeinaccountingstandards24IFRS:ImproveDetermineschangesrequiredtoimproveinternalcontrolcomplianceDetermineschangesrequiredtoimproveinternalcontrolcompliancebutdeterminationiscursoryorcontainsinaccuraciesDoesnotdeterminechangesrequiredtoimproveinternalcontrolcompliance24IFRS:StandardsDetermineswhichstandardswillaffectTrinityasaresultofIFRSDetermineswhichstandardswillaffectTrinityasaresultofIFRSbutdeterminationiscursoryorcontainsinaccuraciesDoesnotdeterminewhichstandardswillaffectTrinityasaresultofIFRS24 IFRS:RoleDiscussestheroleofthethreegroupsinsupportingacomplianceprojectlikeIFRSDiscussestheroleofthethreegroupsinsupportingacomplianceprojectlikeIFRSbutdiscussioniscursory,containsinaccuracies,ordoesnotdiscussallthreegroupsDoesnotdiscusstheroleofthethreegroupsinsupportingacomplianceprojectlikeIFRS24ArticulationofResponseSubmissionhasnomajorerrorsrelatedtocitations,grammar,spelling,syntax,ororganizationSubmissionhasmajorerrorsrelatedtocitations,grammar,spelling,syntax,ororganizationthatnegativelyimpactreadabilityandarticulationofmainideasSubmissionhascriticalerrorsrelatedtocitations,grammar,spelling,syntax,ororganizationthatpreventunderstandingofideas4EarnedTotal100%

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