Assessment 3 page no 9
Assessment 3
Assessment Type: Individual research assessment
Purpose: To allow students to apply the technical knowledge of relevant accounting standards to financial reporting settings. This assessment relates to learning outcomes c, d.
Value: 30% Due Date: Week 9 - 8:00 pm Wednesday of Week 9
Submission: Submission must be made to the Moodle Assignment Link on the KOI Moodle Subject Home Page by 8.00 pm Wednesday of Week 9. All assignments must have a signed KOI Assignment Coversheet included with the submission.
Topic: Reporting and Disclosure of Intangible Assets
Task Details: Each student is required to choose an ASX listed firm and analyse its 2020 financial statements. The analysis must focus on discussing the firm’s reporting and disclosure policies on intangible assets. In the discussion, detail the accounting policy that the firm follows in reporting, measuring and disclosing its intangible assets. The discussion must evaluate the current accounting treatment for the recognition and measurement of intangible assets under AASB138.
Note that the firm must NOT be in mining or banking industry.
Research requirements: Students need to support their analysis with reference to relevant material from the text and minimum of eight (8) suitable, reliable, current and academically acceptable sources- this should include at least 2 peer-reviewed academic journal articles.
Presentation: 2000 words (+/-10%) short report format. Title page, executive summary, table of contents, appropriate headings and sub-headings, recommendations/findings/conclusions, in-text referencing and reference list (Harvard - Anglia style), attachments if relevant. Single spaced, font Times New Roman 12pt, Calibri 11 pt or Arial 10pt.
Marking Guide:
Interpretation and representation 20%
Calculations 20%
Analysis 20%
Assumptions 20%
Communication 20%
Total mark will be scaled to a mark out of 30 subject marks.
ACC701 FINANCIAL ACCOUNTING T12101/03/202114:02
‘AUSTRALIAN INSTITUTE OF BUSINESS AND MANAGEMENT PTY LTD © ABN: 72 132 629 979
PAGE 9 OF 13
CRICOS 03171A
Approved by KOI Academic Board for Ti 2021
ACC701
Marking Rubric Assessment 3: 30%
Criteria Fail (0-49%) Pass (50 - 64%) Credit (65-74%) Distinction (75-84%) High Distinction (85-100%)
Interpretation and Representation 20% Does not provide explanations of information presented in mathematical form. Does not make appropriate inferences based on that information. Does not convert relevant information into an insightful mathematical portrayal. Provides somewhat accurate explanations of information presented in mathematical forms, but occasionally makes minor errors related to computations or units. Makes some inferences based on that information. Completes conversion of information but resulting mathematical portrayal is only partially appropriate or accurate. Provides mostly accurate explanations of information presented in mathematical form. Makes mostly appropriate inferences based on that information. Converts relevant information into an insightful mathematical portrayal in a way that contains minimal inaccuracies Provides accurate explanations of information presented in mathematical form. Makes appropriate inferences based on that information. Competently converts relevant information into an insightful mathematical portrayal in a way that contributes to a further and deeper understanding. Provides accurate explanations of information presented in mathematical form. Makes skilful inferences based on that information. Skilfully converts relevant information into an insightful mathematical portrayal in a way that contributes to a further or deeper understanding.
Calculations 20% Does not perform accurate calculations. Formulae and workings either not provided or incomplete. Many errors. Performs calculations which solve the basic and/or most obvious problem(s). Main formulae and workings only provided. Some errors. Performs mostly accurate calculations which are sufficiently comprehensive to solve most (of the) problem(s). Most formulae and workings provided -some gaps. Minor errors Performs mostly accurate calculations which are sufficiently comprehensive to solve the problem(s). Most/all formulae and workings provided -minimal gaps. Minimal errors Performs accurate calculations which are sufficiently comprehensive to solve the problem(s). All formulae and workings provided. No errors
Analysis 20% Does not use correct and complete quantitative analysis. Does not make relevant and correct conclusions. Uses basic analysis but uses the quantitative analysis as the basis for tentative, basic judgments, is hesitant or uncertain about drawing conclusions from this work. Uses mostly correct and complete quantitative analysis. Makes mostly relevant and correct conclusions. Uses correct and complete quantitative analysis. Makes mostly relevant and correct conclusions. Uses correct and complete quantitative analysis. Makes sophisticated, relevant and correct conclusions.
Assumptions 20% Does not attempt to describe assumptions or makes incorrect assumptions. Limited, incorrect or no rationale. Attempts to describe assumptions and provides limited rationale to explain why each assumption is appropriate. Some errors in assumptions or assumptions overlooked Describes assumptions and provides rationale to explain each assumption. Some elements incomplete or semi-accurate assumptions. Explicitly describes assumptions and provides strong rationale to explain assumptions. Minimal errors in logic. Explicitly describes assumptions and provides comprehensive, compelling and justified rationale to explain assumptions. No errors in logic.
Communication 20% Communicates ineffectively. Words do not reflect the problem. May include diagrams which completely misrepresent the problem situation. May not include important supporting diagrams. Has some satisfactory elements but may fail to complete or may omit significant parts of the problem. Explanation or description may be missing or difficult to follow in places. Includes most but not a important diagram(s) or diagram(s) may be unclear and difficult to interpret. Makes significant progress towards completion of the problem, but the explanation or description may be somewhat ambiguous or unclear. May include flawed or unclear diagram(s), 0 insufficient diagrams. Gives a fairly complete response with reasonably clear explanations or descriptions. Includes nearly all complete, appropriate diagram(s). Generally, communicates effectively to the identified audience. Presents supporting arguments which are logically sound but may contain some minor gaps. Gives a complete response with a clear, unambiguous explanation and/or description. Includes all appropriate and complete diagram(s). Communicates effectively to the identified audience. Presents strong supporting arguments which are logically sound and complete.
Total mark out of 100% Comments:
ACC701 FINANCIAL ACCOUNTING T121 01/03/202114:02
?AUSTRALIAN INSTITUTE OF BUSINESS AND MANAGEMENT PTY LTD © ABN: 72 132 629 979
Approved by KOI Academic Board for Ti 2021