HI6008 Reflection: IFRS Accounting Standards and Consumer Loyalty

This essay reflects on the learning experience of researching the impact of IFRS accounting standards on enhancing consumer loyalty within the Australian retail sector. The research focused on understanding IFRS standards related to consumer loyalty schemes and their potential to increase consumer purchase intention. The student analyzed the usefulness of this learning for their future career, detailing how the acquired knowledge of IFRIC 13 "Consumer Loyalty Programmers" can be applied in developing value-added schemes. The learning process involved reading about IFRS implications, analyzing existing literature, conducting questionnaire analysis with managers and consumers from Australian retail companies, and using statistical data analysis tools. The reflection highlights the practical applications of the research findings, including using accounting regulations for personal development and enhancing shareholder attention through public interest theory. Desklib offers a wide array of similar solved assignments and past papers for students.

Running head: REFLECTION ON LEARNING
Reflection on Learning
Name of the University:
Name of the Student:
Authors Note:

1REFLECTION ON LEARNING
Table of Contents
1. Evaluating Effectiveness and Usefulness of Learning Experience.................................2
2. Ways in which Learning Process is Useful.....................................................................2
3 Conducts in the Learning Process.....................................................................................3
4. Evaluation of Learnt Aspects...........................................................................................3
5. Explanation of Learning Process.....................................................................................4
6. Plan of Learning Application...........................................................................................5
References............................................................................................................................6

2REFLECTION ON LEARNING
1. Evaluating Effectiveness and Usefulness of Learning Experience
The research has facilitated me in attaining a better learning experience that can be useful
in attaining my career goals in the future years. The topic on which I carried out the research was
“to analyze the impact of IFRS accounting standards on enhancing consumer loyalty within the
retail sector of Australia”. This topic increased my understanding on the necessary IFRS
accounting standards regarding development of several consumer loyalty schemes which can
facilitate the organization in training increased consumer loyalty towards its retail brands.
Attaining knowledge on such “consumer loyalty scheme” standards set out in the IFRS
Standards can be useful for me in serving my company well through developing value added
schemes that can increase purchase intention of my organization’s consumers (Abbott et al.
2017). In carrying out research on analyzing the use of IFRS accounting standards, my learning
has become clear regarding the fact that I can develop consumer loyalty schemes in a way that
can have a positive impact on the turnover value of my organization after sale.
2. Ways in which Learning Process is Useful
The learning process in analyzing the impact of IFRS accounting standards regarding
consumer loyalty schemes in increasing their purchase intention has facilitated me in attaining an
increased understanding on my course, program, individual life and future career. I have also
been able to implement my newly gathered insights and knowledge on the implication of IFRS
Standards on enhancing consumer loyalty and purchase intention in the retail organization within
which I will work in future (de Villiers and Sharma 2017). I have attained new knowledge and
insights through carrying out research on IFRIC 13 “Consumer Loyalty Programmers” that has
facilitated me in attaining increased understanding on the ways in which provisions of this

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accounting standards can be developed by the retail companies. Moreover, this has also
increased my learning on the IFRIC 13 “Consumer Loyalty Programmers” implementation for
developing retail market, brand along with consumer purchase intentions which can further
facilitate in persuading “loyalty reward credits”.
3 Conducts in the Learning Process
I have attained several useful implications in carrying out the current research on
analyzing the ways in which IFRS consumer loyalty standards can enhance their purchase
intention for the Australian retail products. In carrying out in this research I read about the
implications of IFRS accounting standards along with their impact on purchase intention and
brand loyalty. I have also analyzed the existing literature and theories that establishes association
among IFRS consumer loyalty accounting standards and consumer brand loyalty along with
parkas intention (Sedláček and Skalický 2015). Moreover, in attaining a detained understanding
of this interrelationship I have carried out questionnaire analysis through involving 20 managers
and 30 consumers from selected Australian retail companies. Moreover, in attaining a detailed
insight on the research subject I have also considered using statistical data analysis tool such as
MS Excel that has facilitated me in seeing necessary respondent’s insights.
4. Evaluation of Learnt Aspects
The current business research on effect of accounting standards used in Australian retail
sector has enhanced consumer loyalty and purchase intention has offered useful implications
within my learning process. The research conducted by me in evaluating the aspects of the IFRS
accounting standards in developing effective value added services for all the target consumers
(Sinclair and Keller 2017). Moreover, the research also has an increased contribution on

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employing the suitable qualitative and quantitative data analyzing processes in attaining effective
research outcomes. In addition, the business research has offered with effective learnt aspects on
the ways in which the retail organizations can attain a sustainable image through developing
brand identity. Moreover, in accomplishing the business research I have attained effective
business implications as my study revealed that implementation of IFRS consumer loyalty
schemes accounting standards and facilitate me in implementing techniques through which in
future IFRS accounting regulations can be use by me in assessing certain loyalty schemes that
can enhance consumer loyalty.
5. Explanation of Learning Process
From analyzing the effect of IFRS accounting standards based “Consumer Loyalty
Schemes” on increasing their purchase intention regarding the retail products in Australia. From
the research carried out it I have attained better learning through testing of the set hypotheses. I
have also attained findings on the hypotheses like provision of IFRIC 13 ‘Customer Loyalty
Programmers’ impact on enhancing buying behaviour of consumers within Australian retail
sectors (Travers, Morisano and Locke 2015). I have attended a detailed insight through
conducting questionnaire survey analysis with the selected managers and consumers yet all the
consumers have different levels of motivation. Based on such findings I will require to
implement IFRIC 13 ‘Customer Loyalty Programmers’ in order to address all their self-
definition needs of all the consumers of the organization in which I will be working. Moreover,
through completing assignment 1 and assignment 2 of this research I have attained a detailed
understanding on the existing literature on the topic based on which I have set research
objectives and hypotheses for data analysis. Moreover, I have also been able to develop an

5REFLECTION ON LEARNING
effective research plan in accomplishing the tasks set for the research along with attaining
suitable data for analyzing research variables.
6. Plan of Learning Application
The learning’s gathered from the current research will be helpful for me in implementing
the knowledge gained in my future course add profession. The public interest theory has
facilitated me in attaining increased understanding on the public interest theory through which I
can attain increased shareholders attention towards the products (Travers, Morisano and Locke
2015). Through attaining learning’s from this business research I can also use advantages of the
accounting regulations that can provide me chances of personal development as I can attain
necessary opportunities in completing any accounting course in future at a global level. Attaining
knowledge on such “consumer loyalty scheme” standards set out in the IFRS Standards can be
useful for me in serving my company well through developing value added schemes that can
increase purchase intention of my organization’s consumers.

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References
Abbott, M., Beecher, C., Petersen, S., Greenwood, C.R. and Atwater, J., 2017. A Team
Approach to Data-Driven Decision-Making Literacy Instruction in Preschool Classrooms: Child
Assessment and Intervention Through Classroom Team Self-Reflection. Young exceptional
children, 20(3), pp.117-132.
de Villiers, C. and Sharma, U., 2017. A critical reflection on the future of financial, intellectual
capital, sustainability and integrated reporting. Critical Perspectives on Accounting, 4(2), pp.17-
19.
Sedláček, J. and Skalický, R., 2015. The Brand in Accounting and Economic Concepts-
Comparison of the Czech and the International Approach. European Financial Systems 2015,
p.507.
Sinclair, R. and Keller, K.L., 2017. Brand value, accounting standards, and mergers and
acquisitions:“The Moribund Effect”. Journal of Brand Management, 24(2), pp.178-192.
Travers, C.J., Morisano, D. and Locke, E.A., 2015. Self‐reflection, growth goals, and academic
outcomes: A qualitative study. British Journal of Educational Psychology, 85(2), pp.224-241.