Assessment 2:
General information about the assignment
Due in Week 10
Total Marks: 30
Weightage: 30% of the unit
This assessment is an individual assignment. Each student will submit the assignment electronically in a single file via Turnitin on the unit Moodle site. Please include a cover page mentioning the student name and student ID.
The task consists of a number of questions to be answered in your own words, with supporting material to be provided in the appendix. The report must be written as an academic essay. Please include a Table of contents at the beginning of your report. You will be assessed on not just the completeness of your answers but also the level of academic literacy.
If it is believed that a student has copied material from another student or any other source without appropriate referencing, the necessary action will be taken under the Institute’s Student Academic Integrity and Honesty Misconduct Policy.
Late penalties will be applied for assignments submitted after midnight on the due date without an approved extension. More details on late penalties are provided in the Unit Outline.
Background of the assignment:
Publicly listed companies must publish online an annual report. This report includes financial statements and other information as required by the standards set by the AASB and other accounting bodies. Students of ACC202 are expected to be able to demonstrate an understanding of the accounting standards and show how the material studied in this subject relates to the real world.
To successfully complete this assignment, you will need to:
• Work effectively as part of a team
• Locate company financial reports from the company website
• Select and evaluate articles relating to the company and its performance
• Prepare a summary of the information with appropriate cross-referencing between sources
• Demonstrate an understanding of how companies use accounting standards to disclose information
Important requirements for completion and submission of this assignment.
• This assignment must be completed in Word format (in a single file). The maximum length of the written report is 14 full pages plus bibliography (on a new page). APA referencing must be used both in the text and the bibliography. Ensure you credit all sources of material.
• Each part must commence on a new page. Show the number and topic (e.g. Part 2 – Revenue), your answer in narrative form (in your own words where possible) and appropriate referencing. Any published material you use as a reference (if not too long) must be printed and included in the appendix and the web address cited in the bibliography. If the item is long, take a screenshot of the relevant section and copy to the report or appendix, clearly indicating its source. Number the pages in the appendix so it is possible to cross-reference effectively. On your answer, refer to the appendix page and in the appendix, highlight material where appropriate and indicate which part of the assignment this material relates to. If using a direct quote, reference appropriately.
The assignment task:
Please inform the lecturer the company you choose (first come first serve basis). Include the following reports in the appendix.
• Income statement
• Balance sheet
• Statement of changes in equity
• Cash flow statement
Answer the following questions about the company and its financial reports. When quoting numbers, use the group/consolidated data.
Part 1 – General information about the company
What is the name of the company and its ASX code? Where is its main office located? What is the website address? What is its industry type? Find a chart that shows the share price over the last 5 years. Over this period, have there been any sharp rises or drops in the share price? If there have, can you find an explanation? Copy the chart to your Word document and print any supporting information and include in the appendix.
Part 2 – Revenue
What is the company’s main source of revenue? If your company sells a physical product, what was the gross profit for the current year and the previous year? Locate at least two articles relating to the company earnings. One of these must be from an independent source. (Include these articles in the appendix). Using these articles, what events or company policies etc have impacted most greatly on company earnings over the last two years? Read the chairman’s report and the CEO’s report. What are the company’s main strengths and weaknesses? Based on these, prepare a forecast of revenues for the next two years. Please give reasons why you have come up with this answer.
Part 3 – Property, plant and equipment
Which group of tangible assets (property, plant and equipment) has increased the most over the last two years? What is the reason for this change? Looking just at the last year, were any assets revalued or impaired? If impaired or revalued, what is the reason for this? Please support your answer with information from the published report and an article or company announcement if relevant (Include in the appendix).
Part 4 – Provisions, contingent assets and liabilities and leases
What provisions does the company have? Describe them and if possible, the movement or change in them during the year. What is a contingent asset and what is a contingent liability? How does a contingent liability differ from a provision? Does the company have any contingent assets and/or liabilities? Explain, showing estimated amounts.
Does the company have any leased assets? If so, what are they and what did these assets cost the company in the last year?
Part 5 – Responsibility and sustainability
Define “sustainability” as it relates to a business. Looking at your company’s sustainability report, what are some ways in which the company is “giving back” to the community? How do you think this will impact the company’s earnings in the longer term?
Marking Rubrics
The assignment designed to test all learning outcomes for this unit:
Marking Template
ULOs High Distinction
Distinction
Credit
Pass
Fail
General information about the company (15%) a The content is clearly targeted to the given question.
Correctly identified proper accounting and supporting details. The content is targeted to the given question.
Correctly identified proper requirements but left out minor or supporting details. The content is clear and mostly targeted to the given questions.
Made one or more major mistakes per relevant questions The content is not clear and not related to the given questions
Answers were mostly wrong;
Fail to address any questions.
No findings presented
Revenue (15%) a, b,c Presentation of findings is complete, correct, clear, and logical.
Level of science conveys an understanding that is sophisticated for course level. Presentation of findings is generally complete and correct.
One element is missing, problematic, or weakly developed. Presentation of findings contains several errors
Two or more elements are missing or weakly developed Presentation of findings is generally incorrect
A handful of errors were made in answering the questions No findings were presented.
Errors in answering the majority of questions
Property, plant and equipment (20%)
a, b, c Student demonstrates full knowledge (more than required) by answering all questions with
explanations and elaboration.
Explains relevant concepts in own words Student is at ease with expected answers to all
questions, but fails to elaborate
key words and concepts used; some
evidence of use and explanation in own
words Student is uncomfortable with information and is
able to answer only rudimentary questions.
some keywords and concepts used; may
include quoting and some parroting Student does not have grasp of information;
student cannot answer a majority of questions about the subject.
some evidence that material was read;
parroting or quoting of words Student failed to address the questions.
No evidence that
material was read
Provisions, contingent assets and liabilities and leases (20%) a, b, c Demonstrates insightful analysis of similarities
and differences among
Provisions, contingent assets and liabilities.
Clearly articulates the analysis of leases Demonstrates good analysis of similarities and differences among
Provisions, contingent assets and liabilities.
Leases analytical
ability is evident in writing. Can identify some
similarities and
differences among
Provisions, contingent assets and liabilities.
Some leases
analytical ability is evident in writing. Can sometimes articulate a connection
between Provisions, contingent assets and liabilities.
Occasionally
Links leases analysis to the contents of the report Cannot identify
similarities or differences
among provisions, contingent assets and liabilities.
analytical ability is not
evident in writing.
Responsibility and sustainability (15%) c Content is accurate and persuasive.
Content and purpose of the writing are clear.
Major points are stated clearly.
Wording is clear. Thoughts are developed and stay on topic. Content is accurate and persuasive.
Major points are stated.
Content and purpose of the writing are clear.
Wording is mostly exact, clear, and precise. Content is not comprehensive and /or persuasive.
Major points are addressed, but not well supported.
Wording is not exact, clear, or precise.
Content is inconsistent with regard to purpose and clarity of thought. Content is not comprehensive and/or persuasive.
Major points not addressed fully, not developed or well supported.
Content is not consistent with essay topic. Poor Content is incomplete.
Major points are not clear and /or persuasive.
Language (15%)
a Uses a wide range of vocabulary and grammatical structures with full flexibility and accuracy
Rare minor errors occur only as ‘slips’ Uses a wide range of vocabulary and grammatical structures to convey precise meanings
The majority of sentences are error-free
Uses a sufficient range of vocabulary and complex sentence forms to allow some precision
May produce occasional errors in word choice, spelling, word formation, grammar and punctuation Uses an adequate range of vocabulary for the task and a mix of simple and complex sentence forms
Makes some errors in spelling, word formation, grammar and punctuation but they do not impede communication Uses a limited range of vocabulary and grammatical structures which are minimally adequate for the task
May make noticeable errors in spelling, word formation, grammar and punctuation that may cause some difficulty for the reader
General comments Mark Allotted
