corporate and financial accounting( bachelor)

HOLMES INSTITUTE FACULTY OF HIGHER EDUCATION

HA2032 Corporate and Financial Accounting Individual Assignment T2 2019

Assessment Details and Submission Guidelines

Trimester T2 2019

Unit Code HA2032

Unit Title Corporate and Financial Accounting

Assessment Type Individual Assignment

Assessment Title The different sources a company can use to raise its funds and different classifications of entities for reporting purposes.

Purpose of the assessment (with ULO Mapping)

This assignment aims at developing a clear understanding of students on the different sources a company can use to raise its funds. Students will perform a comparative analysis of sources of fund used by two selected companies for a three years period. They will identify the movement in the sources of fund used by the two companies. Students will also need to demonstrate a clear understanding of different classifications of entities for reporting purposes. (ULO 1, 2, 3, 4).

Weight 20 % of the total assessments

Total Marks 20

Word limit 2500 words ±500 words

Due Date Assignment submission: Final Submission of individual Assignment: 11:59 pm Friday, Week 10 Late submission incurs penalties of five (5) % of the assessment value per calendar day unless an extension and/or special consideration has been granted by the lecturer prior to the assessment deadline.

Submission Guidelines  All work must be submitted on Blackboard by the due date along with a completed Assignment Cover Page.

 The assignment must be in MS Word format, no spacing, 12-pt Arial font and 2 cm margins on all four sides of your page with appropriate section headings and page numbers.

 Reference sources must be cited in the text of the report, and listed appropriately at the end in a reference list using Harvard referencing style.

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HA2032 Corporate and Financial Accounting

Assignment Specifications Purpose: This assignment aims at developing a clear understanding of students on the different sources a company can use to raise its funds. Students will perform a comparative analysis of sources of fund used by two selected companies for a three years period. They will identify the movement in the sources of fund used by the two companies. Students will also need to demonstrate a clear understanding of different classifications of entities for reporting purposes.

Assessment task: Part A Select the latest annual report of two ASX listed companies for the last three years period. Please read the balance sheet carefully and complete the following tasks:

(i) What items have been recorded under owners’ equity section? Clearly explain your understanding of each item recorded under the owner equity section.

(ii) Explain the movement in each item recorded under the owner equity section with the reason

(iii) What items have been recorded under liabilities section? Clearly explain your understanding of each item.

(iv) Explain the movement in each item recorded under liabilities section with reason. (v) Briefly explain the relative advantages or disadvantages of each sources of fund each of

your selected companies is using. Part B Do your own research and critically examine the concepts of small proprietary company, large proprietary company and reporting entity. What are the implications of being classified as either one of these three types of companies in terms of compliance and reporting requirements?

Assignment Structure should be as the following:

Abstract - One paragraph List of Content Introduction Body of the assignment with detailed answer on each of the required tasks Summary/Conclusion List of references …..

Marking criteria

Marking criteria Weighting Abstract 1% List of content & overall presentation of the assignment 1% Introduction 1% What items have been recorded under owners’ equity section? Clearly explain your understanding of each item recorded under the owner equity section.

2%

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HA2032 Corporate and Financial Accounting

Explain the movement over the three years period in each item recorded under the owner equity section with the reason.

1%

What items have been recorded under liabilities section? Clearly explain your understanding of each item.

2%

Explain the movement over the three years period in each item recorded under liabilities section with reason.

1%

Briefly explain the relative advantages or disadvantages of each sources of fund each of your selected companies is using.

2%

Do your own research and critically examine the concepts of small proprietary company, large proprietary company and reporting entity. What are the implications of being classified as either one of these three types of companies in terms of compliance and reporting requirements?

7%

Conclusion 1% References 1% TOTAL Weight 20%

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HA2032 Corporate and Financial Accounting

Marking Rubric Excellent Very Good Good Satisfactory Unsatisfactory

What items have been recorded under owners’ equity section?

Clearly explain your understanding of

each item recorded under the owner equity section.

The items recorded under

the equity section have

been correctly identified.

Demonstrates an excellent

understanding of each item

recorded under the equity

section.

The items recorded under

the equity section have

been correctly identified.

Demonstrates a good

understanding of each item

recorded under the equity

section.

The items recorded under

the equity section have

been correctly identified.

Demonstrates a basic

understanding of each item

recorded under the equity

section.

The items recorded under the

equity section have been correctly

identified. Does not

demonstrate a basic

understanding of each item

recorded under the

equity section.

The items recorded under the

equity section have not been

correctly identified. Does not

demonstrate a basic

understanding of each item

recorded under the

equity section.

Explain the movement over the three years period

in each item recorded under the

owner equity section with the reason for the

movement.

Has clearly identified the movement in

each items listed under owner equity with

detailed explanation of the reason for the movement

Has identified the movement in

each item listed under owner equity. The

reason for the movement has been explained

with minor scope for improvement

Has identified the movement

in each item listed under

owner equity. Has provided a

very basic explanation of the reason for movement in

the items recorded under

equity

Has identified the movement

in each item listed under

owner equity. Could not

explain the reasons for

the movement in each item

recorded under the

owner equity

Has not identified the movement in

each item listed under

owner equity. Has not

explained the reasons for

the movement in each item

recorded under the

owner equity

What items have been recorded under liabilities section? Clearly

explain your understanding of

each item.

The items recorded under

the liability section have

been correctly identified.

Demonstrates an excellent

understanding of each item

recorded under the section.

The items recorded under

the liability section have

been correctly identified.

Demonstrates a good

understanding of each item

recorded under the liability

section.

The items recorded under

the liability section have

been correctly identified.

Demonstrates a basic

understanding of each item

recorded under the liability

section.

The items recorded under the

liability section have been correctly

identified. Does not

demonstrate a basic

understanding of each item

recorded under the

liability section.

The items recorded under the

liability section have not been

correctly identified. Does not

demonstrate a basic

understanding of each item

recorded under the

liability section.

Explain the movement over the three years period

in each item recorded under

Demonstrate a clear

understanding of the movements

over the last three years of all

The movements over the last

three years of all items recorded under liabilities

have been

The movements over the last

three years of all items

recorded under

Has attempted to discuss the movements over the last

three years of all items

Has attempted to discuss the movements over the last

three years of all items

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HA2032 Corporate and Financial Accounting

liabilities section with reason.

items recorded under liabilities with reasons for the movements.

discussed with reasons for the

movement. There are minor errors or minor scopes for improvement

in the discussions. Has

missed a few trends or changes.

liabilities have been discussed with reasons for the movement. There are major errors or major

scopes for improvement in the discussions.

Has missed many trends or

changes.

recorded under

liabilities. Has missed many

trends or changes. Most

parts of the discussions are

inaccurate

recorded under

liabilities. Has missed many

trends or changes. Most

parts of the discussions are

inaccurate

Briefly explain the relative advantages or disadvantages of

each sources of fund each of your

selected companies is using.

The advantages and disadvantages of each of the internal sources of fund and external sources of funds used by the company have been identified and explained clearly.

The advantages and

disadvantages of each of the

internal sources of fund and

external sources of funds used by

the company have been

explained with minor errors or

with minor scope for improvement.

The advantages and

disadvantages of each of the

internal sources of fund and

external sources of funds used by

the company have been

explained with major errors or

with major scopes for

improvement.

The advantages

and disadvantages of each of the

internal sources of fund and external

sources of funds used by the company

have not been explained.

Did not show a reasonable attempt to explain the advantages

and disadvantages of the internal

sources of fund and external

sources of funds used by the company

Do your own research and

critically examine the concepts of

small proprietary company, large

proprietary company and

reporting entity. What are the

implications of being classified as

either one of these three types of

companies in terms of compliance and

reporting requirements?

The three concepts have been explained in detail. The implications of being classified as either one of these three types of companies have been explained in detail in terms of compliance with accounting standards, reporting and disclosures requirement, and auditing.

The three concepts have

been explained. The implications

of being classified as either one of

these three types of companies

have been explained in

terms of compliance with

accounting standards,

reporting and disclosures

requirement, and auditing. Minor

scope for improvement

remains.

The three concepts have

been explained. The implications

of being classified as

either one of these three

types of companies have been explained

in terms of compliance with

accounting standards,

reporting and disclosures

requirement, and auditing.

Major flaws or scope for

improvement remain.

The three concepts have

been explained. Has

provided a very basic or

limited discussion on

the implications of

being classified as

either one of these three

types of companies in

terms of compliance

with accounting standards,

reporting and disclosures

requirement, and auditing.

The three concepts have

not been explained

correctly. Has not explained

the implications of

being classified as

either one of these three

types of companies in

terms of compliance

with accounting standards,

reporting and disclosures

requirement, and auditing.