Recent Question/Assignment

BAO2203- Corporate Accounting -Assignment Semester 2 2017
DUE DATE: Week 8 Lecture
Topic: The Role of the Continuous Disclosure Framework
Disclosing entities are regulated by the Corporations Act (2001), Accounting Standards and ASX requirements. The continuous disclosure requirements in ASX LR 3.1 require timely reporting to the ASX of significant events and financial information that is likely to impact the price of the entity’s securities. ASX LR 3.1 contains an overriding general requirement to disclose information that a reasonable person would expect to have a material effect on price, however the rule includes the following exceptions:
• It would breach the law to disclose information
• The information relates to an incomplete proposal or negotiation
• The information comprises matters of supposition or is insufficiently definite to warrant disclosure
• Information is generated for internal management of the company
• Information is a trade secret
• A reasonable person would not expect the information to be disclosed
• The information is confidential and ASX has not formed a view that has ceased to be confidential.
Immediate notification to the ASX is required when particular instances occur (these are listed in LR 3.1) and includes:
• The fact that the entity’s earnings will be materially different from market expectations.
Part I (guide 500 words)
Using the consolidated financial statements of Surfstitch Ltd, comparing the 2015 and 2016 Annual Reports comment on:
1. The recent financial predicament facing Surfstitch Ltd (1 paragraph).
2. The 2015 Goodwill, The Investment in Subsidiary, the cash position and
3. The 2016 Profit and Loss Statement with particular reference to Impairment costs, Selling & Distribution and Administrative expenses.
4. Based on your analysis, and BEFORE knowledge of the recent share price decline and share trading halt, would you have recommended to your clients to buy, hold or sell Surfstitch shares? Why?
Part II (guide 1500 words)
After reading the attached documents, newspaper articles and research papers, answer the following question:
Why is it necessary to have a continuous reporting regime for disclosure entities and is it effective?
Do you agree? Why or why not?
Note, there is not one correct answer to this question. You will need to commence your research using the above three articles, and then supplement that with your own research. Check the marking scheme for further guidance.
You are to form into groups of two for the submission of this assignment. Assignments undertaken by an individual (1) student will not be accepted for marking.
Three weeks before due date, you may commence testing your assignment for originality on TURNITIN which will be available on VU Collaborate.
Approximate word Length: 2000 words (marks will be deducted for assignments exceeding 2100 words excluding the reference list).
Marking: This assignment is worth 20% and will be scored out of 40 marks. The assignment is a TEAM assignment and therefore scores will be applied to all members of a team without distinction.
You have to submit TWO copies of your report:
• Only single copy should be submitted to Turnitin via a link on VU Collaborate. The report should be submitted ONLY by one team member or team leader.
• The second (hard copy) of the report should be submitted to your lecturer.
Penalty for late assignments: 2 mark per working day (weekday) and no mark will be awarded after five days.
• Team members must belong to the same tutorial group.
• It is YOUR responsibility to form teams, thus swapping contact details and arranging regular progress meetings is essential. Remember, once a team is formed, it is up to you and your fellow team members to maintain team discipline. All group members are equally responsible for the submission of the assignment.
• Students must meet at least once every fortnight. Meeting records must be attached at the end of your report. Marks will be allocated for your meeting logs. A suggested meeting log is attached.
• Where a group member is not cooperating or contributing to the group and the team has made all efforts to resolve the issue, the team must inform the tutor and unit coordinator/s immediately via email. Where a group does not report this matter immediately, it will not be entertained later on, especially before the due date of the assignment. The defaulting member will be given a warning and should the member continue to default, the group will continue without the defaulting member and the defaulting member will receive zero for the task.
Referencing and style
• Assignment must be typed using Word document and double-spaced and Times New Roman with 12 font size
• The required referencing style is Harvard (Please visit VU library for examples of Harvard Referencing Style at Essays not using the required referencing style or not showing in-text and end of text references will be returned unmarked.
• Only one member must submit their assignment through Turnitin and attach the Turnitin submission report with your assignment. Your assignment will not be marked without a Turnitin submission report.
• Submission of this assignment by due date (as advised by the local lecturer) is compulsory for successful completion of the subject. The identical electronic copy must be submitted through Turnitin by due date. The printed copy along with a Turnitin Similarity Report (less than 30% similarity required) can be submitted to your lecturer at the conclusion of the lecture you normally attend.
• You cannot withdraw an assignment from Turnitin after the due date).
• Late submission without extension approval from the Unit Coordinators and local lecturers will be penalised 2 (out of 20) marks per day. Do not submit any assessable task by slipping it under the door of your lecturer’s or tutor’s office.
• No Extension will be granted unless supported by appropriate documentation prior to the due date. An application for an extension must be in writing and must use the appropriate form
Some useful journals include:
Academy of Accounting and Financial Studies journal
Academy of Accounting and Financial Studies proceedings
Accounting and business research
Accounting and finance (Parkville)
Accounting and the public interest
Accounting, auditing, & accountability
Accounting, auditing & accountability journal
Accounting forum
Accounting horizons
Accounting in Europe
Accounting, organizations and society
Accounting perspectives
Accounting research journal
Accounting review
Accounting standard
Accounting today
Advances in accounting
Advances in Accounting, Finance & Economics
Advances in international accounting
African journal of accounting, economics, finance and banking research
Asian Academy of Management Journal of Accounting & Finance
Asian journal of finance & accounting
Asian review of accounting
Asia-Pacific Management Accounting Journal
Australian accounting standard
Bank accounting & finance
British accounting review
Canadian accounting perspectives
Contemporary accounting research
Critical perspectives on accounting
European accounting review
International accounting bulletin
International journal of accounting
International journal of accounting, auditing and performance evaluation
International journal of accounting information systems
International journal of digital accounting research
International journal of intelligent systems in accounting, finance & management
Irish accounting review
Issues in accounting education
Issues in Social & Environmental Accounting
Journal of accounting & economics
Journal of accounting and finance research
Journal of accounting & organizational change
Journal of accounting and public policy
Journal of accounting, auditing & finance
Journal of accounting research
Journal of Accounting, Business & Management
Journal of bank cost & management accounting
Journal of business finance & accounting
Journal of contemporary accounting & economics
Journal of corporate accounting & finance
Journal of Financial Reporting & Accounting
Journal of international accounting, auditing & taxation
Journal of international accounting research
Journal of international financial management & accounting
Journal of management accounting research
Journal of modern accounting and auditing
Journal of public budgeting, accounting & financial management
Journal of theoretical accounting research
Malaysian Accounting Review
Pacific accounting review
Public accounting report
Qualitative research in accounting and management
Quarterly journal of finance and accounting
Quarterly Journal of Finance and Accounting
Research in accounting regulation
Review of accounting & finance
Review of accounting studies
Review of quantitative finance and accounting
Student No:
Assessment Criteria and Assignment Structure
Assessment Structure (marks) Excellent Very Good Good Average Marginal Poor Very Poor
Part I (15 marks)
1. Questions 1 (3 marks)
2. Question 2 (3 marks)
3. Question 3 (3 marks)
4. Question 4 (6 marks)
Part II (25 marks)
1. Research question: report format; abstract, intro, literature review and conclusion.(16 marks)
2. English expression, coherence, grammar and spelling (5 marks)
3. Evidence of the group work-meeting logs (4 marks)
Assessment criteria to be applied on Assessments
Excellent: Work fulfilling the above criteria to an outstanding degree, in particular demonstrating excellence in sustained argument, critical thought and synthesis of material from diverse sources.
Very Good: Work demonstrating extensive knowledge and understanding of major content areas and issues; the ability to appropriately synthesise material from a range of sources; a well-developed capacity for critical analysis of key issues and concepts; the ability to present a defensible perspective on issues; evidence of wide reading in relevant areas of the discipline.
Good: Above average work demonstrating good knowledge and understanding of major content areas and issues; demonstration of some capacity for critical analysis; the ability to present a perspective on issues; evidence of reading in relevant areas of the discipline.
Average: Work of ‘average’ standard which demonstrates a average comprehension both of basic concepts and some issues, based on class work and some further reading in the area; some ability to compare key concepts and theoretical perspectives; average presentation, particularly in regard to structure, expression and referencing.
Marginal: Work which shows a basic understanding of key elements of the subject matter at a descriptive level, based mainly on attendance at lectures; satisfactory presentation with some deficiencies in structure, expression and referencing.
Poor: Work which shows little evidence of knowledge or understanding of the subject matter and is unsatisfactorily presented, particularly in regard to structure, expression and referencing.
Very poor: Work which shows no evidence of knowledge or understanding of the subject matter.