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MAC001A: Financial Accounting & Reporting Reading
Assessment 1: 15% Class Activity and Class Participation
Due Date and Submission details. 800 words limit
Assessment 1: Class activity and online class participation includes 15%. Class activity needs to submit by week 5 Sunday 14/02/2021 at 11.55pm in Turnintin box, which is setup in week 5 folder in moodle.
Assessment requirements: Assessment 1 is an individual work submission. There are 4 weekly topics in the subject’s outline. Topics are:
1. Institutional arrangements for setting accounting standards in Australia & The conceptual framework: Purpose, reporting entity, the objective of financial reporting, and qualitative characteristics, the fundamentals of general-purpose financial reporting, Australian Conceptual Framework, Recognition, and measurement of the elements of financial statements. Australian Conceptual Framework.
2. The conceptual framework: Definition, recognition, and measurement of the elements in general purpose financial statements.
3. The choice of accounting methods & Fair value measurement.
4. Accounting for lease
You can select any two topics out of four topics at your own. Read the selected topic’s chapter, PPT and tutorial theory questions. Make a summary for your selected topics. Submit your work in the week 5 folder in moodle in Turnitin box according to due date.
Note 1: You need to submit only one file with includes your two selected topics summary.
Note 2: you are not allowed to copy solution of the tutorial questions. You need to write your own explanation. Because it is Turnitin submission. Similarity rate must be below 20%.
Note 3: Late submission and exceeding similarity rate 20% will not be marked. will not be marked.
Note 4: Late enrolments will miss the assessment.
Note 5: There is no word limit for this assessment.

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