Assignment
\nACC202 Corporate Accounting
\nAssessment details
\nWeight 30%
\nDue date 11.00 pm Friday 6 May
\nThis is an individual assessment task
\nYou are required to complete a research-based assignment
\nInstructions
\nSelect a company that meets the following criteria:
\n\u2022 The company must be a constituent of the S&P\/ASX 300 index (www.asx300list.com);
\n\u2022 The company must publish audited annual financial reports in English, fully complying with IFRS or AASB standards and
\n\u2022 The company must have a 30 June year end.
\nWrite an essay of 1,500 words and cover the following:
\n1. The role of professional judgment in accounting and three implications on the users of accounting information if the professional judgment has not been made in the most reasonable\/appropriate manner.
\n2. Provide a detailed explanation of the impairment write-down(s) made by your company in the year ended 30 June 2018. Your explanation should include a discussion
\na. of the asset\/s that were impaired.
\nb. the type of estimations required to write the impairment.
\nc. the amount of the impairment write-down and
\nd. relevant disclosures in the 30 June 2018 financial report in relation to impairment testing
\n3. Based on your findings in part 2, critically discuss whether the professional judgments applied in the impairment write-down of the assets have been reasonable\/appropriate.
\nRecommend actions (if any) for improvement in the application of professional judgments.
\n4. Based on your findings in part 3, critically analyse to what extent the professional judgments applied on impairment write-downs satisfy the fundamental characteristics of useful financial information and the objective of financial reporting.
\nPage | 1 out of 3
\nHow to present your assignment
\nLength: 1,500 words
\nStructure: use essay structure (i.e. introduction + main body + conclusion + Bibliography) Formatting: standard 12 point font, 1.5 line spacing, and side margin 2.5 wide.
\nReferencing: all sources (i.e., the work and ideas of others) cited and referenced using APA referencing system. You need to provide both in-text referencing and the Bibliography.
\nSUBMISSION INSTRUCTIONS
\nThis assignment must be submitted via Turnitin in Moodle. Hard copies will not be accepted or marked
\nYou may make TWO submissions via Turnitin to check your work for plagiarism and make
\nadjustments accordingly up until the due date. Submissions are open from 11 pm Friday 29 April to
\n11.00 pm Friday 6 May
\nTo avoid plagiarism you must:
\n\u2022 keep similarity rate less than 10%
\n\u2022 Make enough in-text referencing
\n\u2022 Paraphrase original ideas
\n\u2022 Provide a bibliography
\nLate submission
\n10% penalty will apply for every 24 hours delay in submission
\nSupport
\nAcademic support: https:\/\/moodle.gatewaycollege.edu.au\/course\/view.php?id=15
\nAcademic Misconduct policy: 4ed4c59bffb3328f26ecf3f10dfcb988.pdf (gatewaycollege.edu.au)
\nPage | 2 out of 3
\nNot attempted Fail Pass Credit Distinction High Distinction
\nThe role of professional judgment in accounting and three implications on the users of accounting information if the professional judgment has not been made in the most reasonable\/appropriate manner.
\n5 marks Not attempted or entirely or significantly plagiarized from other sources. 0 marks Writing is unclear.
\nLeaves out several relevant aspects of the role of professional judgment and the implications.
\n2 marks Writing is not very clear. Describes the role of professional judgment and the implications although significantly more detail may be needed.
\n2.5 marks Writes clearly.
\nCorrectly describes the role of professional judgment and the implication. Details are mostly correct, although more detail may be needed.
\n3.5 marks Writes clearly.
\nCorrectly describes the of role of professional judgment and the implications with adequate detail.
\n4 marks Writes clearly.
\nCorrectly describes the of professional judgment and the implications with plentiful detail.
\n5 marks
\nExplanation of impairment writedown made by your choice of
\ncompany
\n5 marks Not attempted or entirely or significantly plagiarized from other sources.
\n0 marks Writing is unclear.
\nExplanation incomplete or faulty in one or more aspects.
\n2 marks Writing is not very clear. Explanation including assets written down, amount, types of estimation and analysis of disclosures but with omissions and\/or incorrect explanation.
\n2.5 marks Writes clearly.
\nMostly complete explanation including assets written down, amount, reason and analysis of disclosures.
\n3.5 marks Writes clearly.
\nExplanation including assets written down, amount, types of estimation and analysis of disclosures with minor omissions.
\n4 marks Writes clearly.
\nComplete explanation including assets written down, amount, types of estimation
\nand analysis of disclosures
\n5 marks
\nCritical discussion on whether the professional judgments applied in the impairment write-down of the assets are reasonable\/appropriate. Recommend actions (if any) for improvement in the application of professional judgments. 8 marks Not attempted or entirely or significantly plagiarized from other sources.
\n0 marks Chosen company is not suitable\/Does not include
\nrelevant details, uses faulty analysis. Recommendations do not relate to impairment testing.
\n3 marks Includes the majority of relevant details, although some analysis may be faulty. Recommendations relating to only some areas of
\nimpairment testing
\n4 marks Includes most relevant details. Analysis mostly accurate but more needed. Recommendations relating to most areas of impairment testing.
\n6 marks Includes nearly all relevant details. Analysis mostly accurate with adequate detail.
\nRecommendations refer to nearly all areas of impairment testing.
\n7 marks Includes relevant and possibly unusual details. Analysis accurate and insightful. Recommendations refer to all areas of the impairment testing with great details.
\n8 marks
\nCritical analysis as to what extent the professional judgments applied on impairment write -downs satisfy the fundamental characteristics of useful financial information and the objective of financial reporting.
\n7 marks Not attempted or entirely or significantly plagiarized from other sources.
\n0 marks Chosen company is not suitable\/Did not relate possible disclosures to any aspect of fundamental characteristics of useful financial information and the objective of financial reporting.
\n2 marks Relate only some possible disclosures to some aspects of fundamental characteristics of useful financial information and the objective of financial reporting.
\n3.5 marks Relate most of the possible disclosures to most of the aspects fundamental characteristics of useful financial information and the
\nobjective of financial reporting.
\n5 marks Refer to nearly all possible disclosures to nearly all aspects of fundamental characteristics of useful financial information and the objective of financial reporting.
\n6 marks Refer to all possible disclosures to almost all aspects of the fundamental characteristics of useful financial information and the objective of financial reporting. Critical investigation as to what extent the professional judgements based on impairment write -downs satisfy the fundamental features of meaningful financial information and the aim of financial reporting.
\n7 markings Not attempted or fully or significantly plagiarized from other sources.
\n0 marks Chosen firm is not suitable\/Did not tie possible disclosures to any aspect of essential features of valuable financial information and the aim of financial reporting.<\/p>\n
2 markings Relate just some possible disclosures to some aspects of essential qualities of usable financial information and the aim of financial reporting.<\/p>\n
3.5 markings Relate most of the available disclosures to most of the main fundamental qualities of meaningful financial information and the<\/p>\n
aim of financial reporting.<\/p>\n
5 markings Refer to almost all conceivable disclosures to nearly all aspects of essential characteristics of valuable financial information and the aim of financial reporting.<\/p>\n
6 markings Refer to all feasible disclosures to practically all aspects of the essential qualities of meaningful financial information and the aim of financial reporting.
\n7 marks
\nDocument formatting and structure
\nWritten expression and referencing
\n5 marks Not attempted or entirely or significantly plagiarized from other sources. 0 marks Fails to follow assignment requirement.
\nToo short or too long\/Strongly affect reader due to formatting errors and confusing organisation. 2 marks Occasionally meets the assignment requirement. Distract reader due to formatting errors.
\nOrganisation causes some confusion. 2.5 marks Occasionally meets the assignment requirement. Occasionally include formatting errors.
\nOrganisation of sections and paragraphs generally clear.
\n3.5 marks Mostly meets the assignment requirement. Rarely include formatting errors. Clear organisation of sections and paragraphs.
\n4 marks Meets all the assignment requirements.
\nUse professional, correct formatting. Clear organisa<\/p>\n","protected":false},"excerpt":{"rendered":"
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