Recent Question/Assignment

SUBJECT:
CONTEMPORARY ISSUES IN ACCOUNTING
TWO COMPANIES THAT I HAVE SELECTED ALREADY
PLEASE WORK ON THESE COMPANIES ONLY AS THESE COMPANIES ARE APPROVED AND ADVISED BY THE LECTURER.
http://www.asx.com.au/asx/share-price-research/company/GUD/details
Share Price & Information - ASX
www.asx.com.au
The ASX Group's activities span primary and secondary market services, including capital formation and hedging, trading and price discovery (Australian Securities ...
http://www.asx.com.au/asx/share-price-research/company/BRG
Share Price & Information - ASX
www.asx.com.au
The ASX Group's activities span primary and secondary market services, including capital formation and hedging, trading and price discovery (Australian Securities ...
http://www.gud.com.au/
Welcome - GUD
www.gud.com.au
A holding company for manufacturing companies, including manufacturers of brands such as Sunbeam domestic appliances, Victa lawnmowers, Davey farm and domestic pumps ...
http://www.brevillegroup.com.au/
Assessment Type:
Assignment – individual assessment
Purpose:
This assessment is designed to allow students to demonstrate a higher level of understanding of accounting standards and theoretical and philosophical approaches, as they apply to the resolution of more complex accounting problems.
Topic:
Does the current accounting framework meet the needs of the users of financial reports as prescribed in the objective of the Conceptual Framework of Accounting? How the conceptual framework revision to include Prudence is likely to address the disparity in Corporate Reporting is a requirement in your analysis.
Task Details:
Download the latest annual report of any two listed companies. Annual Reports are available on the company website or ASX website.
Analyse the conceptual framework with reference to the annual reports of your chosen companies in light of the reporting requirements imposed on accountants and those charged with governance of corporations.
Your analysis may include the following:
? Are the annual reports in compliance with the conceptual framework and AASB standard requirements?
? You need to use extracts from the annual reports to support your analysis.
? Provide screen shots of the relevant sections from the reports in your assignment.
? If they are not in compliance, explain the reason.
? How the conceptual framework revision to include Prudence is likely to address the disparity in Corporate Reporting
? You may find the explanations in the notes to the financial statements or in the Director’s Report.
? Compare and contrast the two annual reports, identify the differences in disclosures of these corporations.
? Reference to material of the course and a critical analysis of the annual reports is required. Students are to critically analyse and develop supported recommendations and conclusions, in reference to the relevant accounting framework (see Topics 1-5). The analysis and supported recommendations need to be formatted into a professional report as would be expected in a modern organisation by management and clients.
Research:
Students need to support their analysis and recommendations with the text and
Requirements:
minimum of 13 recent and relevant academic journal articles. Other sources may also be used but students need to be confident of the academic validity of such sources.
Presentation:
Report – 2000 +10% word report The word count excludes the cover sheet, contents page, references, appendices, and illustrations (e.g. diagrams, graphs and tables).
Students need to stay within the assigned word limits, and indicate the word count on the cover page of the assignment. Marks will be reduced for assignments shorter than or greater than the minimum word count
? The report should be typed double spaced, using Times New Roman font size of either 10 point or 12 point.
? Every page should be clearly numbered.
? The assignment should include the following parts:
(a) A title / cover page, which indicates basic information such as Subject title, Subject code, Trimester number, Assignment title, group members’ full names and KOI student numbers, word count and name of the tutor;
(b) Executive Summary;
(c) Table of Contents;
(d) Main contents – Introduction, analysis using suitable headings and subheadings, Conclusions and Recommendations, Appendices (if any);
(e) References (using Harvard – Anglia style); and/or
(f) Attachments.
Marking Guide:
Analysis 30% :
Identifies and insight fully discusses areas of strength and weakness in the organisation’s capabilities.
Strong links to organisational context and relevant theory in evaluation.
All aspects of the task completed in a comprehensive and cohesive manner
Research – extent and application 30%
Integration and originality in the selection and handling of relevant theory to build and justify analysis.
Wide range of current and relevant sources integrated in systematic way.
Recommendations/conclusions 20%
Excellent recommendations made, linked to the evaluation.
Theory used in insightful way to justify recommendations and discuss enhancement of the organisation’s capabilities
Presentation 20%
Highly professional presentation – satisfies all presentation elements.
Correct referencing
This mark will be scaled to a mark out of 20 subject marks.
IMPORTANT INFORMATION
COMMENT FROM LECTURER:
THE ASSESSMENT FOCUS NEED S TO BE ON WHETHER ACCOUNTING IS FULFILLING ITS PURPOSE AS AN INFORMATION SOURCE FOR FINANCIAL DECISION MAKING.
YOU MIGHT LIKE TO CONSIDER GENERAL PURPOSE FINANCIAL STATEMENTS AND IF THIS IS SATISFYING THE NEEDS OF USERS SUCH AS INVESTOR, SHAREHOLDERS ETC.
AS THIS IS A CRITICAL REVIEW YOU SHOULD CONSIDER WHERE THESE NEEDS ARE BEING MET AND PERHAPS WHERE THEY ARE NOT BEING MET – INCLUDING SUGGESTIONS FOR IMPROVEMENT TO ACCOUNTING.
• Reference to material of the course and a critical analysis of the annual reports is required.
• Students are to critically analyse and develop supported recommendations and conclusions, in referenc to the relevant accounting framework (see Topics 1-5). • The analysis and supported recommendations need to be formatted into a professional report as would be expected in a modern organisation by management and clients.
Focus on quality not quantity with the assignment!!!! Answer the question.
Your assignment should include recent and relevant academic references (intext and other).

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