corporate accounting

HOLMES INSTITUTE FACULTY OF HIGHER EDUCATION

HI5020 Corporate Accounting Individual Assignment T3 2020

Assessment Details and Submission Guidelines Trimester T3 2020

Unit Code HI5020

Unit Title Corporate Accounting

Assessment Type Individual Assignment

Assessment Title Linking skills, knowledge and experiences that employers seek from Corporate Accountants with the learnings objectives, outcomes and contents of the subject and demonstrating understanding of equity, liability, and comprehensive income items reported by companies/corporate groups.

Purpose of the assessment (with ULO Mapping)

The first part of this assignment aims at developing a clear understanding of students on what skills, knowledge and experiences employers seek from Corporate Accountants and link the learnings objectives, outcomes and contents of the subject with the skills, knowledge and experiences sought by employers. The second part of the assignment aims at developing a clear understanding of students on different equity, liability, and comprehensive income items reported by companies/ corporate groups. (ULO 1, 2, 3, 4, 5).

Weight 35 % of the total assessments (35 marks)

Total Marks 25 % in written report + 10 % in video presentations

Word limit 3000 words ±500 words

Due Date Assignment submission: Final Submission of individual Assignment: February 3, 2021, Wednesday, Week 10, 11:59 pm 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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HI5020 Corporate Accounting Individual Assignment T3 2020

Assignment Specifications Purpose: The first part of this assignment aims at developing a clear understanding of students on what skills, knowledge and experiences employers seek from Corporate Accountants and link the learnings objectives, outcomes and contents of the subject with the skills, knowledge and experiences sought by employers. The second part of the assignment aims at developing a clear understanding of students on different equity, liability, and comprehensive income items reported by companies/ corporate groups. Assessment task: Part A Collect AT LEAST 20 job advertisements on the position of ‘corporate accountant’, ‘corporate and management accountant’ ‘senior accountant’, ‘tax accountant’, ‘corporate financial accountant’ ‘corporate financial and management accountant’, ‘accountant corporate finance’, ‘senior financial accountant’ ‘senior accountant: tax and corporate reporting’ or any other similar positions published by Australian employers in electronic or print media or in job search portals (such as seek, Jora, Indeed etc.) from the first week of the Trimester to the week 8 of the Trimester. Based on your collected advertisements, do the following tasks:

1. List all the personal attributes required from a corporate accountant that have been mentioned in the job advertisements that you have collected with your detailed understanding of each of the attributes.

2. List all the key roles, tasks, responsibilities of a corporate accountant that have been listed in the advertisements that you have collected and analysed.

3. Based on the key roles, tasks, responsibilities identified from your collected job advertisements, how those key roles, tasks or responsibilities are related to the topics that you have learned in your MPA unit HI5020 Corporate Accounting.

4. What additional topics, attributes or learnings outcomes are missing from your MPA unit HI5020 Corporate Accounting that are listed on the job advertisement.

5. Critically examine the skills, experience and attributes needed to become a corporate accountant. Also, critically evaluate how the topics that you have learned in your MPA unit HI5020 Corporate Accounting have helped you in gaining the skills, knowledge, experience and attributes needed to become a corporate accountant.

Part B

Select 1 (One) public limited company listed on the Australian Securities Exchange (ASX) that are in the same industry. The company must have subsidiary companies and must have prepared consolidated financial statements. Download the latest annual reports consecutively for last two years of the company that you have selected. Do not use your company’s interim financial statements or their concise financial statements. Please read the financial statements (balance sheet, income statement, statement of changes in owner’s equity) very carefully. Also, please read the relevant footnotes of your company’s financial statements carefully and include information from these footnotes in your answer.

You need to do the following tasks:

EQUITY & LIABILITY

6. From your company’s financial statements, list each item of equity reported and write your

understanding of each item. Discuss any changes in each item of equity for your company over last

two years articulating the reasons for the change.

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HI5020 Corporate Accounting Individual Assignment T3 2020

7. From your company’s financial statements, list each item of liability reported and write your

understanding of each item. Discuss any changes in each item of liability for your company over last two years articulating the reasons for the change.

OTHER COMPREHENSIVE INCOME STATEMENT

8. What items have been reported in the other comprehensive income statement for each year? 9. Why have these items not been reported in Income Statement/Profit and Loss Statements? 10. Provide a comparative analysis of the items shown in the other comprehensive income statement

section for the two years. If these items were included in the income statement / profit and loss statements of each year, how would the profit attributable to shareholders of the company be affected?

11. Should other comprehensive income be included in evaluating the performance of managers of the company?

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%

Part A

List all the personal attributes required from a corporate accountant that have been mentioned in the job advertisements that you have collected with your detailed understanding of each of the attributes.

1%

List all the key roles, tasks, responsibilities of a corporate accountant that have been listed in the advertisements that you have collected and analysed.

2%

Based on the key roles, tasks, responsibilities identified from your collected job advertisements, how those key roles, tasks or responsibilities are related to the topics that you have learned in your MPA unit HI5020 Corporate Accounting.

2%

What additional topics, attributes or learnings outcomes are missing from your MPA unit HI5020 Corporate Accounting that are listed on the job advertisement.

2%

Critically examine the skills, experience and attributes needed to become a corporate accountant. Also, critically evaluate how the topics that you have learned in your MPA unit HI5020 Corporate Accounting have helped you in gaining the skills, experience and attributes needed to become a corporate accountant.

2%

Part B

From your company’s financial statements, list each item of equity reported and write your understanding of each item. Discuss any changes in each item of equity for your company over last two years articulating the reasons for the change.

2%

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HI5020 Corporate Accounting Individual Assignment T3 2020

From your company’s financial statements, list each item of liability reported and write your understanding of each item. Discuss any changes in each item of liability for your company over last two years articulating the reasons for the change.

2%

What items have been reported in the other comprehensive income statement for each year?

2%

Why have these items not been reported in Income Statement/Profit and Loss Statements?

2%

Provide a comparative analysis of the items shown in the other comprehensive income statement section for the two years. If these items were included in the income statement / profit and loss statements of each year, how would the profit attributable to shareholders of the company be affected?

2%

Should other comprehensive income be included in evaluating the performance of managers of the company?

2%

Conclusion 1%

TOTAL Weight in Written Assignment 25%

Video Presentation 10%

Total 35%

Instruction for video presentation: Based on your written assignment you will have to make a summary video presentation ranging for 10 minutes. Your presentation should explain the assignment tasks and your key findings. You will have to upload the presentation in You Tube and submit the You Tube link in the black board so that the marker can watch and mark your presentation. Your assignment will be marked based on the following criteria:

Presentation Style (3 marks)

Content (4 marks) Clarity of the presentation (3 marks)

Excellent 3-2.5 4-3 3-2.5

Very good 2.5-1.75 3-2.5 2.5-1.75

Good 1.75-1.5 2.5-2.00 1.75-1.5

Satisfactory 1.5-1.00 2.00-1.00 1.5-1.00

Unsatisfactory 1.00-0 1.00-0 1.00-0

Academic Integrity

Holmes Institute is committed to ensuring and upholding Academic Integrity, as Academic Integrity is integral

to maintaining academic quality and the reputation of Holmes’ graduates. Accordingly, all assessment tasks

need to comply with academic integrity guidelines. Table 1 identifies the six categories of Academic Integrity

breaches. If you have any questions about Academic Integrity issues related to your assessment tasks, please

consult your lecturer or tutor for relevant referencing guidelines and support resources. Many of these

resources can also be found through the Study Sills link on Blackboard.

Academic Integrity breaches are a serious offence punishable by penalties that may range from deduction of

marks, failure of the assessment task or unit involved, suspension of course enrolment, or cancellation of

course enrolment.

Table 1: Six categories of Academic Integrity breaches

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HI5020 Corporate Accounting Individual Assignment T3 2020

Plagiarism Reproducing the work of someone else without attribution. When

a student submits their own work on multiple occasions this is

known as self-plagiarism.

Collusion Working with one or more other individuals to complete an

assignment, in a way that is not authorised.

Copying Reproducing and submitting the work of another student, with or

without their knowledge. If a student fails to take reasonable

precautions to prevent their own original work from being copied,

this may also be considered an offence.

Impersonation Falsely presenting oneself, or engaging someone else to present as

oneself, in an in-person examination.

Contract cheating Contracting a third party to complete an assessment task,

generally in exchange for money or other manner of payment.

Data fabrication and

falsification

Manipulating or inventing data with the intent of supporting false

conclusions, including manipulating images.

Source: INQAAHE, 2020

HOLMES INSTITUTE FACULTY OF HIGHER EDUCATION

HI5020 Corporate Accounting Individual Assignment T3 2020

Marking Rubric

Excellent 80-100%

Very Good 70-79%

Good 60-69%

Satisfactory 50-59%

Unsatisfactory 0-49%

Abstract /1 Apply our judgement

List of content & overall presentation

of the assignment

/1 Apply our judgement

Introduction /1 Apply our judgement

PART A QUESTIONS PART A QUESTIONS

List all the personal attributes required from a corporate accountant that

have been mentioned in the

job advertisements that you have

collected with your detailed

understanding of each of the attributes.

/1 A good number of personal attributes

required to be a corporate accountant have been identified

from the job advertisements with detail explanation of

each attribute.

A good number of personal attributes

required to be a corporate accountant have been identified

from the job advertisements.

Explanation of a few attributes have been

provided.

A good number of personal attributes

required to be a corporate accountant have been identified

from the job advertisements. No

explanation has been provided for any of the

attributes

A small number of personal attributes

required to be a corporate accountant have been identified

from the job advertisements. No

explanation has been provided for any of the

attributes

Only few/no personal attributes have been

identified. No explanation has been

provided.

List all the key roles, tasks,

responsibilities of a corporate

accountant that

/2 A good number of key roles, tasks or

responsibilities of a corporate accountant

that have been

A good number of key roles, tasks or

responsibilities of a corporate accountant

that have been

A good number of key roles, tasks or

responsibilities of a corporate accountant

that have been

A small number of key roles, tasks or

responsibilities of a corporate accountant

that have been

Only few/no key roles, tasks or responsibilities

of a corporate accountant that have

been mentioned in the

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HI5020 Corporate Accounting Individual Assignment T3 2020

have been listed in the advertisements

that you have collected and

analysed.

mentioned in the job advertisements have

been identified. Detailed explanations

have been provided for each of the identified

roles, tasks or responsibilities.

mentioned in the job advertisements have

been identified. Explanation has been provided for a few of the identified roles,

tasks or responsibilities.

mentioned in the job advertisements have been identified. No

explanation has been provided for the

identified roles, tasks or responsibilities.

mentioned in the job advertisements have been identified. No

explanation has been provided for the

identified roles, tasks or responsibilities.

job advertisements have been identified. No explanation has

been provided.

Based on the key roles, tasks,

responsibilities identified from your

collected job advertisements, how those key roles, tasks or

responsibilities are related to the topics

that you have learned in your

MPA unit HI5020 Corporate

Accounting.

/2 Have demonstrated an excellent understanding of the relation of the topics included in the MPA unit HI5020 Corporate Accounting with the key roles, tasks or responsibilities of a corporate Accountant identified from the job advertisements.

Have demonstrated a very good

understanding of the relation of the topics included in the MPA

unit HI5020 Corporate Accounting with the

key roles, tasks or responsibilities of a

corporate Accountant identified from the job

advertisements.

Have demonstrated a good level of

understanding of the relation of the topics included in the MPA

unit HI5020 Corporate Accounting with the

key roles, tasks or responsibilities of a

corporate Accountant identified from the job

advertisements.

Have demonstrated a very basic or just

acceptable level of understanding of the relation of the topics included in the MPA

unit HI5020 Corporate Accounting with the

key roles, tasks or responsibilities of a

corporate Accountant identified from the job

advertisements.

Have demonstrated a poor or no level of

understanding of the relation of the topics included in the MPA

unit HI5020 Corporate Accounting with the

key roles, tasks or responsibilities of a

corporate Accountant identified from the job

advertisements.

What additional topics, attributes or learnings outcomes

are missing from your MPA unit

HI5020 Corporate Accounting that are

listed on the job advertisement.

What needs to be added or what

/2 Excellent discussions on the limitations of MPA Unit HI5020 Corporate

Accounting. Have identified the topics

that need to be added or omitted with

excellent informed reasoning provided in

line with the job advertisements.

Very good discussions on the limitations of

MPA Unit HI5020 Corporate Accounting

has been provided. Have clearly identified the topics that need to be added or omitted. Have shown a good

reasoning.

A good discussion on the limitations of MPA Unit HI5020 Corporate Accounting has been

provided. Have clearly identified the topics

that need to be added or omitted without

providing any reasoning. Or the reasoning is not

A very basic or just acceptable discussions

on the limitations of MPA Unit HI5020

Corporate Accounting has been provided.

Have mentioned a few topics that need to be

added or omitted without providing any

reasoning.

Very poor or no discussion on the

limitations of MPA Unit HI5020 Corporate

Accounting has been provided. Have not identified any topic

that need to be added or omitted from the

MPA unit HI5020 Corporate Accounting.

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HI5020 Corporate Accounting Individual Assignment T3 2020

needs to be omitted?

informed by the job advertisement.

Critically examine the skills,

experience and attributes needed

to become a corporate

accountant. Also, critically evaluate

how the topics that you have learned in

your MPA unit HI5020 Corporate Accounting have

helped you in gaining the skills, experience and

attributes needed to become a

corporate accountant.

/2 An excellent discussion on the skills,

experience and attributes needed to become a corporate

accountant. The discussion is informed

by the job advertisements analysed. Have

provided excellent discussion linking the skills, experience and attributes learned in

HI5020 Corporate Accounting

A very good discussion on the skills,

experience and attributes needed to become a corporate

accountant. The discussion is informed

by the job advertisements analysed. Have provided good

discussion linking the skills, experience and attributes learned in

HI5020 Corporate Accounting.

A good discussion on the skills, experience

and attributes needed to become a corporate

accountant. The discussion is informed

by the job advertisements analysed. Have

attempted to link the skills, experience and attributes learned in

HI5020 Corporate Accounting.

A very basic or just acceptable discussion

on the skills, experience and

attributes needed to become a corporate

accountant. The discussion is not

informed by the job advertisements

analysed. A very basic attempt to link the

skills, experience and attributes learned in

HI5020 Corporate Accounting.

Very poor or no discussion has been

provided on the skills, experience and

attributes needed to become a corporate

accountant. The discussion is not

informed by the job advertisements

analysed. No attempt to link the skills, experience and

attributes learned in HI5020 Corporate

Accounting.

PART B QUESTIONS

From your company’s financial statements, list each item of equity reported and write your understanding of each item. Discuss any changes in each item of equity for your company over last two years

/2 Each items of equities have been clearly

identified. Demonstrate a clear

understanding of each item of equity and the reason for the change

Each items of equities have been clearly

identified. Demonstrate a good

understanding of each item of equity and the reason for the change

Each items of equities have been clearly

identified. Demonstrate a good

understanding of each item of equity. Does not demonstrate an

understanding for the reason for the change

Each items of equities have been clearly

identified. Demonstrate a poor

understanding of each item of equity. Does not demonstrate an

understanding for the reason for the change

Each items of equities have not been clearly

identified. Demonstrate a very

poor understanding of each item of. Des not

demonstrate an understanding for the reason for the change

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HI5020 Corporate Accounting Individual Assignment T3 2020

articulating the reasons for the change.

From your company’s financial statements, list each item of liability reported and write your understanding of each item. Discuss any changes in each item of liability for your company over last two years articulating the reasons for the change.

/2 Each item of liability has been clearly

identified. Demonstrate a clear

understanding of each item of liability and the reason for the change

Each item of liability has been clearly

identified. Demonstrate a good

understanding of each item of liability and the reason for the change

Each item of liability has been clearly

identified. Demonstrate a good

understanding of each item of liability. Does not demonstrate an

understanding for the reason for the change

Each item of liability has been clearly

identified. Demonstrate a poor

understanding of each item of liability. Does not demonstrate an

understanding for the reason for the change

Each item of liability has not been clearly

identified. Demonstrate a very

poor understanding of each item of. Des not

demonstrate an understanding for the reason for the change

What items have been reported in the other comprehensive income statement for each year?

/2 All items of the other comprehensive income statement have been clearly identified

All items of the other comprehensive income statement have been identified with minor errors

Items of the other comprehensive income statement have been identified with major errors

An attempt was made to identify Items of the other comprehensive income statement

Items of comprehensive income statement have not been identified

Why have these items not been reported in Income Statement/Profit and Loss Statements?

/2 An excellent reasoning has been provided as to

why other comprehensive income items are not shown in the income statement with reference to the requirement of the specific Accounting

standards.

An excellent reasoning has been provided as to

why other comprehensive income items are not shown in the income statement.

Reference to the requirement of the specific Accounting standards has been

made with some errors.

An excellent reasoning has been provided as to

why other comprehensive income items are not shown in the income statement.

No reference to the requirement of the specific Accounting standards has been

made.

A good reasoning has been provided as to

why other comprehensive income items are not shown in the income statement.

No reference to the requirement of the specific Accounting standards has been

made.

A poor/incorrect reasoning has been provided as to why

other comprehensive income items are not shown in the income

statement. Or has mentioned that the

other comprehensive income items can be shown in the income

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HI5020 Corporate Accounting Individual Assignment T3 2020

statement. No reference to the

requirement of the specific Accounting standards has been

made.

Provide a comparative analysis of the items shown in the other comprehensive income statement section for the two years. If these items were included in the income statement / profit and loss statements of each year, how would the profit attributable to shareholders of the company be affected?

/2 An excellent comparative discussion has been provided on

the two years.

A very good comparative discussion has been provided on

the two years.

An attempt has been made to provide

comparative discussions but could

not do it quite well

Comparative discussions have not been provided, only a general discussion has been provided

No acceptable discussion has been provided.

Should other comprehensive income be included in evaluating the performance of managers of the company?

/2 An excellent argument has been provided on

why the other comprehensive income should not be included

in evaluating the managers’

performance.

A very good argument has been provided on

why the other comprehensive income should not be included

in evaluating the managers’

performance.

A good attempt has been made to provide an argument on why

the other comprehensive income should not be included

in evaluating the managers’

performance.

An attempt has been made to provide an argument on why the other comprehensive income should not be included in evaluating the managers’ performance but could not clearly make the point

No acceptable discussion has been provided.

Conclusions /1 Apply our judgement

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HI5020 Corporate Accounting Individual Assignment T3 2020

Total in Written Assignment

/25

Video presentation /10

Total /35