ACC510 Task 2 – Semester 2 2018

You have been randomly assigned an Australian publicly listed company (refer to the separate excel spreadsheet provided to identify your company). Using the financial reports for your company, you are required to prepare an essay that addresses the 7 requirements listed below.

1. Introduction (Company’s main operation/ what the assignment is about/ Topics covered)

2. (a) Select a non-current asset from the financial statements of your company. Provide details of this item (including identify the valuation method used for this item).

(b) With reference to qualitative characteristics, provide an argument for using an alternative valuation method for this non-current asset.

3. (a) Provide details of the intangible assets reported by your company.

(b) Evaluate how the company fulfilled its disclosure requirements in relation to intangible assets.

4. (a) Provide details of the provisions and contingencies recorded or disclosed by your company.

(b) With reference to one specific contingency recorded or disclosed by the company, provide an argument for and against the inclusion of the contingency in the financial report.

5. (a) Provide details of leased items that are recorded or disclosed by your company.

(b) Discuss the classification and presentation requirements relevant to leased items, and in doing so provide an explanation for how the leased items of your company have been presented on the financial statements.

6. (a) Provide details of the revenue disclosed in the annual report of the company.

(b) Justify the revenue recognition criteria for a specific (major) revenue of the company.

7. Conclusion (final overview of the findings)

The set word count for your assignment is 1,500 words (±10% will be considered acceptable). Direct quotes, where used appropriately, will not be considered to contribute to your word count. In-text references and list of References will also not be considered to contribute to your word count.