College of Administration and Finance SciencesAssignment (2)
Deadline: Sunday 03/06/2023 @ 23:59
Course Name: Accounting of Financial
Student’s Name:
Institutions
Course Code: ACCT 405
Student’s ID Number:
Semester: 3rd
CRN:
Academic Year: 1444 H
For Instructor’s Use only
Instructor’s Name:
Students’ Grade:
/15
Level of Marks: High/Middle/Low
Instructions – PLEASE READ THEM CAREFULLY
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The Assignment must be submitted on Blackboard (WORD format only) via allocated folder.
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Assignments submitted through email will not be accepted.
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Students are advised to make their work clear and well presented, marks may be reduced for
poor presentation. This includes filling your information on the cover page.
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Students must mention question number clearly in their answer.
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Late submission will NOT be accepted.
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Avoid plagiarism, the work should be in your own words, copying from students or other
resources without proper referencing will result in ZERO marks. No exceptions.
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All answers must be typed using Times New Roman (size 12, double-spaced) font. No
pictures containing text will be accepted and will be considered plagiarism.
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Submissions without this cover page will NOT be accepted.
College of Administration and Finance Sciences
Assignment Question(s):
(Marks 15)
Q. 1) Fair Value Accounting is argued to be conceptually and practically preferable to
Amortized Cost Accounting for most financial instruments. But there are some
arguments that are against fair value accounting. Understanding these arguments are
important because they speak directly to the strength and weakness of fair value
accounting. You are required to discuss these arguments in detail.
(5 Marks)
(Week 9 ,Chapter 6 )
Q. 2) Mortgage banks are exposed to interest rate risk on their mortgage-related asset
through prepayment and discounting effects that are not entirely distinct. Discuss the
Prepayment and Discounting Effects of Mortgage Banks in detail.
(Marks 5)
(Week 9 ,Chapter7 )
Q.3) Accounting for Securitization under SFAS No. 140 (2000) is a limited attempt to
describe complex transactions that are structured to yield desired economic and
accounting outcomes. This accounting raises three issues for users of financial reports.
State these three issues.
(Marks 5)
(Week 10 ,Chapter 8 )
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