Length: 2000 words 
Group Assignment: 2 people 
Format: Report 
The diverse measurement techniques developed for different types of assets suggest that 
standard setters are confused about the nature of the attribute that is to be measured. 
Required: 
a. Why is measurement in the context of accounting so important? 
b. Why has measurement become such a controversial accounting issues in recent 
times? 
c. Explain the arguments for and against using fair value as a measurement base. 
d. Identify factors that may influence the choice of measurement approach. Discuss 
how the measurement approach adopted impacts on the quality of accounting 
information produced. 
Provide reasons to support your position on the above. 
Additional information 
Assignments must not exceed the word counts indicated. 
Your assignment must include an abstract/synopsis, introduction, essay body that clearly 
addresses the problem areas, a conclusion and a properly referenced (refer to the research 
essay marking guide for further guidance). 
Evidence of extensive research beyond the prescribed text is required. Ensure these are 
referenced. Refer to the University of Ballarat’s policy on plagiarism. 
NO extensions will be granted unless supported by appropriate documentation prior to the 
due date. 
The group assignment is due in week 10. Assignments that are submitted late will be 
penalised at the rate of 10% per day. The lecturer, in the evaluation of the group submission 
and each individual’s contribution, may require any or all of the members of the group to 
discuss various aspects of the assignment