ACCG224: Financial Accounting and Reporting, 1,300 words

    S2 2018 ACCG224 Page 1
    ACCG224: Financial Accounting
    and Reporting
    Session 2, 2018
    Individual Assignment
    Financial Reporting Disclosures in the Australian
    Corporate Sector
    Part I – Research Based Report (15%)
    Due: 5pm Tuesday Week 8 (2/10/2018)
    Word limit: 1,300 words
    Part II – Video Oral Presentation (5%)
    Due: 5pm Monday Week 9 (8/10/2018)
    Time limit: 4 minutes
    S2 2018 ACCG224 Page 2
    Part I – Research based report (15%)
    As a new accounting graduate you have recently joined the accounting department of an ASX listed
    company. To complete this assignment, you will need to select a suitable company yourself that meets
    the following criteria:
    • The company must be a constituent of the S&P/ASX 300 index (www.asx300list.com);
    • The company cannot be in the ‘Financial’ sector;
    • The company must publish audited annual financial reports in English, fully complying
    with IFRS or AASB standards;
    • The company must have a 30 June year end.
    The Chief Financial Officer (CFO) approaches you with your first task. One of his responsibilities is
    to monitor the development of new and revised accounting standards in order to be aware of potential
    impacts on the company as early as possible. One of the major issues facing your company is the
    changes to AASB 117 Leases and the transition to AASB 16 Leases from 1 January 2019. The CFO
    has been researching on this and has studied the press releases issued by AASB in the past regarding
    this and has been comparing the changes between the two standards.
    Since your company have many leases agreements, he is highly concerned about the impacts the new
    accounting standard for leases could have on the company’s financial position and performance.
    You have been asked to undertake some research and prepare a report for presentation at the next
    board meeting, to be held on 8 November 2018. Your report must address each of the following:
    a. a description of leases your company (as the lessee) currently has and how they are
    recognised, classified and presented in the latest annual report of your company according
    to AASB 117 or IAS 17 and a summary of the new rules according to AASB 16 Leases
    or IFRS 16 for the classification, recognition, initial and subsequent measurement, and the
    presentation of leases from the perspective of a lessee (10 marks);
    b. an analysis of the potential impacts on the company’s financial position and
    performance from the application of the new rules (if the new rules were applied) to
    current lease contracts as per latest annual report (10 marks);
    c. an evaluation of whether AASB 16/IFRS 16 improves financial reporting (you are required
    to refer to the Conceptual Framework for the objective of GPFR and qualitative
    characteristics of useful financial information) (10 marks); and
    d. in the form of a conclusion, recommended actions to best prepare your company and
    the financial reporting unit for the new accounting treatment (5 marks).

    Assessment of report
    The research based report represents 15% of your total mark for ACCG224 and is compulsory. Your
    assignment will be marked out of 50 as shown in the Report Marking Rubric on page 6 of this document and
    will then be converted to a mark out of 15 percent.
    S2 2018 ACCG224 Page 3
    Report submission instructions
    Where to submit The written report must be submitted in electronic form using Turnitin (through
    iLearn via the ‘Assessment Tasks’ folder). Detailed submission instructions are
    provided on iLearn. Please ensure that you are familiar with these instructions and
    submit before the deadline in case of technical issues.
    A hardcopy submission is not required.
    When to submit The deadline for submission is 5pm Tuesday Week 8 (2/10/2018)
    No extensions will be granted. There will be a deduction of 10% of the total
    available marks made from the total awarded mark for each 24-hour period or part
    thereof that the submission is late (for example, 25 hours late in submission – 20%
    penalty). This penalty does not apply for cases in which an application for special
    consideration is made and approved.
    How to submit The report can be submitted either in a PDF or word format.
    The filename of your report must be as follows:
    ACCG224_XXXXXXXX (where the crosses represent your eight digit SID)
    S2 2018 ACCG224 Page 4
    Report Format
    Before you start writing your report, it is recommended that you undertake the following (both of these can
    be accessed through the ‘Assessment Task’ folder on iLearn):
    1. Watch the e-lecture on business report writing
    2. Take a look at the sample Business Research Report provided on iLearn.
    Structure The report must contain the following (in this order):
    • Report cover page
    • Table of contents
    • Executive summary
    • Introduction
    • Body
    • Conclusion/recommendation
    • Reference list
    • Appendix
    You should include relevant parts of the annual reports that you have used and referred to
    in your report. Do NOT attach entire annual reports.
    Length Total word count limit = 1,300 words.
    Your word count must be included on your cover page.
    Included in word count Excluded from word count
    • Introduction
    • Body
    • Conclusion/recommendation
    • Report cover page
    • Table of contents
    • Executive summary
    • Reference list
    • Appendix
    Penalties for exceeding the word limit are as follows:
    Word count Penalty
    • 1,301 – 1,419 words
    • 1,420 – 1,539 words
    • 1,540 or more words
    • No penalty
    • 10% of total marks
    • 20% of total marks
    Style The report must be presented as follows:
    Font: Times New Roman 12 point Spacing: 1.5 times line spacing
    Margins: not less than 2.5 cm
    Footer Each page must have a footer containing the following:
    ACCG224 S2 2018 Your SID Page number
    Referencing In text referencing is required for all sources used and a complete list of references must be
    provided using the Harvard Referencing System.
    A copy of the Harvard Referencing System is available under the ‘Assessment Task’ folder
    on iLearn.
    Please note that as this is a research assignment it is not appropriate to reference to
    textbooks or lecture slides.
    Plagiarism All assignments will be manually and electronically checked for plagiarism and it is
    extremely important that you are familiar with the policy on Academic Honesty.
    A link to the policy is available in the ‘Assessment Task’ folder on iLearn.
    S2 2018 ACCG224 Page 5
    Part II – Video Oral Presentation (5%)
    The CFO was impressed by your report and has asked you to prepare a video presentation to be played
    to the Board Committee at the next meeting on 8 November 2018.
    Your video presentation should include:
    a. a summary of the new rules according to AASB 16/IFRS 16 Leases for the classification,
    recognition, initial and subsequent measurement, and the presentation of leases from the
    perspective of a lessee;
    b. an analysis of the potential impacts on the company’s financial position and performance
    from the application of the new rules (if the new rules were applied) to current lease
    contracts as per latest annual report; and
    c. recommended actions to best prepare your company and the financial reporting unit for the
    new accounting treatment.
    Assessment of video
    The research based report represents 5% of your total mark for ACCG224 and is compulsory. Your
    assignment will be marked out of 40 as shown in the Presentation Marking Rubric on page 7 of this document
    and will then be converted to a mark out of 5.
    Video format and submission instructions will be available later.
    S2 2018 ACCG224 Page 6
    Part I – Research Based Report Marking Rubric
    Student name ID Topic
    Not attempted Fail Pass Credit Distinction High Distinction
    Summary of current lease
    arrangements of the company,
    in accordance with AASB 117
    Leases and a summary of new
    rules in AASB16
    Not attempted or
    entirely or
    significantly
    plagiarized from other
    sources.
    Leaves out several relevant
    aspects of the current practice
    and are incorrect..
    Describes the majority of the
    aspects of the current practice
    and are mostly correct, although
    significantly more detail may be
    needed.
    Correctly describes most of the
    aspects of the current practice
    and details are mostly correct,
    although more detail may be
    needed.
    Writes clearly.
    Correctly describes nearly all
    the aspects of the current
    practice with adequate detail.
    Writes clearly.
    Correctly describes all the
    aspects of the current practice
    with plentiful detail.
    10 marks 0 marks 4 marks 5 marks 7 marks 8 marks 10 marks
    Critical analysis of the impacts
    on the chosen company from
    the application of new rules
    related to the current lease
    contracts
    10 marks
    Not attempted or
    entirely or
    significantly
    plagiarized from
    other sources.
    0 marks
    Chosen company is not
    suitable/Does not include
    relevant details, uses faulty
    analysis
    4 marks
    Includes the majority of
    relevant details, although
    some analysis may be faulty
    5 marks
    Includes most relevant details.
    Analysis mostly accurate but
    more needed
    7 marks
    Includes nearly all relevant
    details. Analysis mostly
    accurate with adequate detail.
    8 marks
    Includes relevant and
    possibly unusual details.
    Analysis accurate and
    insightful.
    10 marks
    Critical analysis of whether
    AASB 16 improves financial
    reporting by referring to the
    Conceptual Framework for
    the objective of GPFR and
    qualitative characteristics of
    information)
    10 marks
    Not attempted or
    entirely or
    significantly
    plagiarized from
    other sources.
    0 marks
    Chosen company is not
    suitable/Does not include
    relevant details, uses faulty
    analysis
    4 marks
    Includes the majority of
    relevant details, although
    some analysis may be faulty
    5 marks
    Includes most relevant details.
    Analysis mostly accurate but
    more needed
    7 marks
    Includes nearly all relevant
    details. Analysis mostly
    accurate with adequate detail.
    8 marks
    Includes relevant and
    possibly unusual details.
    Analysis accurate and
    insightful.
    10 marks
    Recommendations or actions
    that can be taken by the
    company to prepare for the
    application of the new standard.
    5marks
    Not attempted or
    entirely or
    significantly
    plagiarized from
    other sources.
    0 marks
    An insufficient range of
    recommendations are suggested;
    not evaluated with reference to
    previous discussion; and/or the
    recommended solution is
    unclear, unfeasible and/or
    inappropriate.
    1mark
    A limited range of
    recommendations are suggested
    and evaluated with reference to
    previous disucssion leading to
    generally feasible and
    appropriate recommendations.
    2 Marks
    A range of potential
    recommendations are suggested
    and evaluated with reference to
    previous discussion leading to
    feasible and appropriate
    recommendations.
    3 marks
    A broad range of
    recommendations are
    suggested and evaluated with
    reference to previous
    disucssion leading to feasible
    and appropriate
    recommendations.
    4 marks
    An extensive range of
    recommendations are identified
    and evaluated with reference to
    previous disucssion leading to
    insightful, innovative, feasible
    and appropriate
    recommendations.
    5 marks
    Document formatting and
    structure (including length,
    organisation of sections and
    paragraphs)
    Not attempted or
    entirely or
    significantly
    plagiarized from other
    sources.
    Fails to follow assignment
    requirement.
    Too short or too long/Strongly
    affect reader due to formatting
    errors and confusing
    organisation.
    Occasionally meets the
    assignment requirement.
    Distract reader due to formatting
    errors. Organisation causes some
    confusion.
    Occasionally meets the
    assignment requirement.
    Occasionally include formatting
    errors. Organisation of sections
    and paragraphs generally clear.
    Mostly meets the assignment
    requirement. Rarely include
    formatting errors. Clear
    organisation of sections and
    paragraphs.
    Meets all the assignment
    requirements.
    Use professional, correct
    formatting. Clear organisation of
    sections and paragraphs with
    excellent flow.
    10 marks 0 marks 4 marks 5 marks 7 marks 8 marks 10 marks
    Written expression and
    referencing
    Not attempted or
    entirely or
    significantly
    plagiarized from other
    sources. Did not use
    referencing system
    correctly.
    Too informal or errors in
    grammar make meaning unclear.
    Minimal referencing. Did not use
    referencing system correctly.
    Sometimes too informal or errors
    in grammar make meaning
    unclear in places. Noticeable
    errors in referencing. Frequently
    used referencing system correctly.
    Generally appropriate tone.
    Language is generally clear but
    may be repetitive or simple.
    Frequently used referencing
    system correctly.
    Appropriate tone. Language is
    clear and shows variety. Used
    referencing consistently and
    accurately with very few minor
    errors.
    Appropriate tone. Language is
    clear, varied and easy to read.
    Used referencing consistently
    and accurately in all aspects.
    5 marks 0 marks 1 marks 2 marks 3 marks 4 marks 5 marks
    S2 2018 ACCG224 Page 7
    Part II – Video Oral Presentation Marking Rubric
    Student name ID Topic
    Not attempted Fail Pass Credit Distinction High Distinction
    Content:
    Relevance, appropriate
    detail, clear explanations of
    issues
    Not attempted or entirely or
    significantly plagiarized
    from other sources
    The majority of the issues
    presented are not relevant
    and/or clearly explained in
    appropriate detail.
    Some of the issues
    presented are relevant and
    clearly explained although
    more detail may be needed.
    Most of the issues
    presented are relevant and
    clearly explained with
    appropriate detail.
    Nearly all of the issues
    presented are relevant,
    cover the key dimensions
    and are clearly explained
    with appropriate detail.
    All of the issues presented
    are relevant, cover all key
    dimensions and are clearly
    explained with appropriate
    detail.
    10 marks 0 marks 4 marks 5 marks 7 marks 9 marks 10 marks
    Structure:
    Appropriate
    opening/introduction (incl.
    purpose and overview),
    clear transitions from one
    section to another, smooth
    flow of ideas, adequate
    conclusion
    Not attempted or entirely or
    significantly plagiarized
    from other sources
    No or inappropriate
    opening/introduction,
    unclear transitions,
    incongruous flow of ideas
    and/or inadequate
    conclusion.
    Presentation featured the
    majority of the required
    components, however
    transitions could have been
    clearer/flow of ideas
    smoother and/or conclusion
    more pronounced.
    Presentation featured most
    of the required components,
    transitions were quite
    clear, the flow of ideas
    quite smooth with an
    adequate conclusion.
    Presentation featured
    nearly all of the required
    components; transitions
    were clear, the flow of
    ideas smooth with an
    adequate conclusion.
    Presentation featured all of
    the required components;
    transitions were clear and
    well placed, the flow of
    ideas excellent with a
    remarkable conclusion.
    10 marks 0 marks 4 marks 5 marks 7 marks 9 marks 10 marks
    Maintaining interest
    Awareness of audience,
    effectiveness of techniques,
    good timing
    Not attempted or entirely or
    significantly plagiarized
    from other sources.
    Presentation frequently
    inappropriate for target
    audience. Techniques
    haphazard or poorly
    executed. Well over/under
    time.
    Presentation occasionally
    inappropriate for target
    audience. Techniques
    adequate but occasionally
    sloppy. Timing within
    acceptable limits.
    Presentation appropriate
    for target audience.
    Techniques adequate and
    mostly interesting.
    Insignificantly over/under
    time.
    Presentation considerably
    stimulates audience
    interest. Techniques
    creative and interesting.
    Good timing.
    Presentation is very well
    pitched to audience, or
    modified in view of
    audience reactions.
    Innovative but appropriate
    techniques greatly
    stimulated audience
    interest. Exact timing.
    10 marks 0 marks 4 marks 5 marks 7 marks 9 marks 10 marks
    Verbal and non-verbal
    delivery
    including pronunciation,
    volume, eye contact,
    gesture, video quality
    stance
    Not attempted or entirely or
    significantly plagiarized
    from other sources.
    Delivery strongly detracts
    from content; e.g.
    pronunciation unclear,
    speech inaudible, too many
    filler words/ slang,
    distracting gestures,
    reading from notes with no
    eye contact. Poor video
    quality.
    Delivery detracts from
    content only in places; e.g.,
    pronunciation mostly clear,
    speech mainly audible;
    some distracting filler
    words and gestures,
    occasional eye contact with
    audience. Good Video
    quality.
    Delivery supports content;
    audible, pronunciation,
    minimal distracting
    gestures, regular eye
    contact with audience.
    Good Video quality.
    Delivery effectively
    supports content by
    allowing audience to focus
    on message. Nervousness
    may be evident but mostly
    under control. Very good
    Video quality.
    Confident delivery does not
    just convey the message but
    significantly enhances it;
    excellent use of volume,
    pace, etc. Nervousness may
    be evident but under
    control. Excellent Video
    quality.
    10 marks 0 marks 4 marks 5 marks 7 marks 9 marks 10 marks

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