ACC3155 FINANCIAL STATEMENT ANALYSIS AND VALUATION
\nACADEMIC YEAR 2022-2023
\nIndividual Assignment
\n(60% of the Module weighting)
\nYou are required to conduct research on a listed company and its benchmark company,
\nand complete the following 3 tasks.
\nAssignment structure,
\nformat and details
\n\u2022 Preparing reformulated financial statements and analysis report;
\nand preparing forecasted financial statements and performing
\nequity valuation.
\n\u2022 Detailed requirements for each task are available in the following
\npages.
\nSubmission date, time Online submission via My Learning of myUniHub:
\n\u2022 Task 1 (20%) \u2013 Learning week 11
\n\u2022 Task 2 (20%) \u2013 Learning week 17
\n\u2022 Task 3 (20%) \u2013 A week after learning week 2 [Essay writing service – your education, our expertise: Get any assignment done with our professional essay writers before your deadlines – Zero AI, Human experts and Fast delivery.]4
\nYour Tutor will advise of the exact day and time for each task.
\nFeedback type & date Formative feedback: Available over the learning weeks during the
\nLecture and Seminar sessions, Tutor\u2019s office hours, and any other
\npre-arranged sessions. You can also contact the Learning
\nEnhancement Team via LET@mdx.ac.uk for academic writing
\nsupport and other related aspects.
\nSummative feedback: Written feedback within 3 to 4 learning weeks
\nupon submission.
\nAssessed learning outcomes \u2022 Interpret financial statements and make appropriate adjustments
\nto facilitate analysis and synthesis.
\n\u2022 Apply the discounted cash flow and residual income methods of
\nequity and enterprise valuation and critically appraise each
\nmethod.
\n\u2022 Assess companies\u2019 operating and financial risk by reference to
\nfinancial statements.
\n\u2022 Analyse and critically evaluate financial statements.
\n\u2022 Undertake quantitative and qualitative analysis of corporate
\nperformance.
\n\u2022 Assess the profitability and solvency of companies using
\nfinancial and non-financial information.
\n\u2022 Calculate and apply a range of \u2018market comparable\u2019 ratios and
\nother metrics and critically evaluate their use in security
\nvaluation.
\nKey reading and learning
\nresources
\n\u2022 Lecture and Seminar materials
\n\u2022 Online websites and relevant resources (such as Financial Times)
\nMarking criteria Detailed marking criteria for each task are available in the following
\npages.
\n2
\nACC3155 FINANCIAL STATEMENT ANALYSIS AND VALUATION
\nACADEMIC YEAR 2022-2023
\nDetailed requirements for Task 1
\nYou are required to complete the following work:
\n\u2022 Choose a company from the list provided on the My Learning and sign up online using the
\n\u201csign-up sheet\u201d on the My Learning of myUniHub.
\n\u2022 Identify a benchmark company for comparison.
\n\u2022 You are required to prepare the Reformulated Consolidated Balance Sheets and
\nReformulated Consolidated Income Statements for your chosen company (three most recent
\nfinancial years) and its benchmark company (one most recent financial year).
\n\u2022 Adopt \u201cProfit after taxation\u201d in the Consolidated Income Statement for reformulation. You
\nare not required to consider the \u201cOther comprehensive income\u201d in the Consolidated
\nStatement of Comprehensive Income for reformulation.
\n\u2022 Where applicable, describe your bases and assumptions made during your reformulation
\nprocess together with the relevant workings.
\n\u2022 To include the original version of Consolidated Balance Sheet and Consolidated Income
\nStatement and their relevant Notes to the Consolidated Financial Statements for the most
\nrecent financial year of both companies to support your bases and assumptions of
\nreformulation.
\n\u2022 Using the amounts from the reformulated financial statements, compute the accounting
\nratios for return on common equity (\u201cROCE\u201d) in conducting the first level and second level
\nanalysis of profitability and solvency for your chosen company (three most recent financial
\nyears) and its benchmark company (one most recent financial year).
\n\u2022 You are required to show detailed workings with formulae for all the relevant accounting
\nratios.
\n\u2022 You are required to apply the Excel applications in the preparation of reformulated financial
\nstatements as well as in the computation of accounting ratios.
\n\u2022 Seek progressive feedback from your Tutor on your work \u2013 early feedback and guidance are
\nencouraged and welcomed while last-minutes appointment may not be entertained.
\nIndividual Assignment (Task 1)
\n(20% of the Module weighting)
\nYou are required to prepare reformulated financial statements and calculate accounting
\nratios for online submission via My Learning of myUniHub in the learning week 11 (the
\nexact day and time will be advised by your Tutor).
\n3
\nMarking criteria for Task 1
\nThe assessment scheme is based on the accurate computation and presentation of results using
\nthe Excel applications. The allocations of marks (out of 100%) are as follows:
\nReformulated Consolidated Balance Sheets 35%
\nReformulated Consolidated Income Statements 20%
\nAccounting ratios relating to ROCE 35%
\nProper adoption of Excel applications 10%
\n100%
\n4
\nACC3155 FINANCIAL STATEMENT ANALYSIS AND VALUATION
\nACADEMIC YEAR 2022-2023
\nDetailed requirements for Task 2
\nYou are a financial analyst in a consulting firm. You have been assigned to assess the
\nprofitability and solvency of a company from the investor perspective using the results obtained
\nunder Task 1. The report with a maximum word limit of 2,000 words (excluding cover page,
\ncontent page and reference list) must be prepared using Microsoft Word and should include, at
\nleast, the following elements and contents:
\nAssessment criteria Marks
\nallocations
\nCover page
\n\u2022 Module code and name.
\n\u2022 Student number.
\n\u2022 Academic year and title of work.
\n\u2022 The name of analysed company.
\n*
\nContent page
\n\u2022 Proper title and heading with complete page referencing.
\n*
\nChapter 1: Introduction to the research
\n\u2022 The purpose of the report.
\n\u2022 Justification for the selection of companies.
\n\u2022 Method used in generating the report and its limitations.
\n\u2022 Signposting the report.
\n5%
\nChapter 2: Background, financial results and key non-financial
\ninformation
\n\u2022 Introduction to the chosen company, its business and its competitors.
\n\u2022 A review of the financial results contained in the most recent annual
\nreport and an up-to-date commentary by reference to the most recent
\nannouncements and interim reports for the chosen company and its
\nbenchmark company.
\n\u2022 Recent difficult situations or controversial issues facing by the chosen
\ncompany.
\n\u2022 Key non-financial information, such as appointment of a new director,
\nof the chosen company.
\n25%
\nIndividual Assignment (Task 2)
\n(20% of the Module weighting)
\nYou are required to analyse the results obtained under Task 1 and prepare a report
\n(maximum 2,000 words) for online submission via My Learning of myUniHub in the
\nlearning week 17 (the exact day and time will be advised by your Tutor).
\n5
\nDetailed requirements for Task 2 (Cont\u2019d)
\nAssessment criteria Marks
\nallocations
\nChapter 3: Analysis and interpretation of profitability and solvency ratios
\n\u2022 Conduct the first level and second level analysis of profitability and
\nsolvency through the return on common equity (\u201cROCE\u201d).
\n\u2022 Summarised results of the ROCE of the chosen company for three
\nmost recent financial years and its benchmark company for one most
\nrecent financial year.
\n\u2022 Critically evaluate and discuss the ROCE drivers.
\n50%
\nChapter 4: Summary and conclusion
\n\u2022 Summary of main findings of previous chapters.
\n\u2022 Draw conclusion on the profitability and solvency of your chosen
\ncompany in relation to the benchmark company and the industry as a
\nwhole.
\n10%
\nReferences
\n\u2022 Use the Harvard referencing style.
\n\u2022 Complete list of references.
\n*
\nPresentation and language (including * above)
\n\u2022 Professional style of format and presentation.
\n\u2022 Professional style of language for report writing.
\n\u2022 Proper citation and referencing.
\n\u2022 Suitable graphs adopted with proper presentation.
\n10%
\nThis 100% will be converted to 20% of the total assessment of the module. 100%
\nNote: Seek progressive feedback from your Tutor on your work \u2013 early feedback and
\nguidance are encouraged and welcomed while last-minutes appointment may not be
\nentertained.
\n6
\nMarking criteria with rubrics for Task 2 of Individual Assignment
\nAssessment
\ncriteria
\nGrade 1-4 Grade 5-8 Grade 9-12 Grade 13-16 Grade 17-20
\nChapter 1 All required
\nelements
\nincluded with
\nexcellent
\npresentation.
\nAll required
\nelements
\nincluded with
\ngood
\npresentation.
\nMost of the
\nrequired
\nelements
\nincluded.
\nSome of the
\nrequired
\nelements
\nincluded.
\nMissing most
\nof the required
\nelements.
\nChapter 2 All required
\nelements
\nincluded with
\nexcellent
\nreview and
\npresentation.
\nAll required
\nelements
\nincluded with
\ngood review
\nand
\npresentation.
\nMost of the
\nrequired
\nelements
\nincluded.
\nSome of the
\nrequired
\nelements
\nincluded.
\nMissing most
\nof the required
\nelements.
\nChapter 3 Excellent and
\nin-depth
\nanalysis and
\ninterpretation
\nof the
\npresented
\nresults.
\nGood and
\nspecific
\nanalysis and
\ninterpretation
\nof the
\npresented
\nresults.
\nAdequate level
\nof analysis and
\ninterpretation
\nof the
\npresented
\nresults.
\nSome but
\nlimited level
\nof analysis and
\ninterpretation
\nof the
\npresented
\nresults.
\nNo or very
\nlimited level
\nof analysis and
\ninterpretation
\nof the
\npresented
\nresults.
\nChapter 4 Excellent
\nsummary of
\nfindings and
\ndrawing
\nappropriate
\nconclusions.
\nGood
\nsummary of
\nfindings and
\ndrawing
\nappropriate
\nconclusions.
\nSome
\nsummary of
\nfindings and
\ndrawing some
\nappropriate
\nconclusions.
\nLimited
\nsummary of
\nfindings and
\ndrawing
\nlimited
\nappropriate
\nconclusions.
\nInadequate
\nsummary of
\nfindings and
\ndrawing
\ninadequate
\nconclusions.
\nPresentation
\nand language
\nExcellent
\npresentation
\nand language
\nwith very
\nminor spelling
\nand
\ngrammatical
\nerrors.
\nExcellent and
\nconsistent
\nstandards of
\nreferencing.
\nExcellent
\nadoption of
\ngraphic
\npresentation.
\nGood
\npresentation
\nand language
\nwith few
\nspelling and
\ngrammatical
\nerrors.
\nGood
\nreferencing
\nwith minor
\nerrors.
\nGood adoption
\nof graphic
\npresentation.
\nSatisfactory
\npresentation
\nand language
\nwith some
\nspelling and
\ngrammatical
\nerrors.
\nSatisfactory
\nreferencing
\nwith some
\nerrors.
\nSatisfactory
\nadoption of
\ngraphic
\npresentation.
\nInconsistent
\npresentation
\nand language
\nwith some
\nspelling and
\ngrammatical
\nerrors.
\nSome
\nreferencing
\nwith errors.
\nLimited
\nadoption of
\ngraphic
\npresentation.
\nPoor
\npresentation
\nand language
\nwith lots of
\nspelling and
\ngrammatical
\nerrors.
\nNo or
\ninadequate
\nreferencing.
\nNo or
\ninadequate
\nadoption of
\ngraphic
\npresentation.
\n7
\nACC3155 FINANCIAL STATEMENT ANALYSIS AND VALUATION
\nACADEMIC YEAR 2022-2023
\nDetailed requirements for Task 3
\nYou are a financial analyst in a consulting firm. You have been assigned to prepare the
\nForecasted Consolidated Income Statement for your chosen company and perform equity
\nvaluation.
\nYou are required to complete the following work:
\nAssessment criteria Marks
\nallocations
\nForecasted Income Statement
\nBased on the Consolidated Income Statements of your chosen company for
\nthe past three financial years, prepare the Forecasted Consolidated Income
\nStatement for the incoming financial year.
\n\u2022 Clearly describe your bases and assumptions in arriving at your
\nforecasted amounts together with the appropriate workings.
\n\u2022 Compare your forecasted results with the published results made
\navailable by the company, showing clearly the differences.
\n\u2022 Critically discuss the above differences.
\nYou are recommended to present your work using the Microsoft Excel.
\n30%
\n10%
\n10%
\nEquity valuation
\nPerform equity valuation of your chosen company for the most recently
\nconcluded financial year by adopting one of the following valuation methods:
\nDividend discount model (\u201cDDM\u201d); or Discounted cash flow model (DCFM);
\nor Residual earnings model (\u201cREM\u201d); or method of comparables (\u201cMOC\u201d).
\n\u2022 Clearly demonstrate your workings together with the relevant bases
\nand assumptions in arriving at your equity valuation. For DDM,
\nDCFM or REM, you are required to use, at least, three forecasted
\namounts in your computation while for MOC, you are required to
\ncompare with, at least, another two companies.
\n\u2022 Compare your equity value with the current market value, comment on
\nthe difference, and make appropriate recommendation to the investors.
\n\u2022 Critically discuss your selection of valuation method relative to other
\nmethods.
\n30%
\n10%
\n10%
\nThis 100% will be converted to 20% of the total assessment of the module. 100%
\nIndividual Assignment (Task 3)
\n(20% of the Module weighting)
\nYou are required to prepare forecasted financial statements and perform equity valuation
\nfor online submission via My Learning of myUniHub in a week after the learning week
\n24 (the exact day and time will be advised by your Tutor).
\n8
\nTask 3 (Cont\u2019d)
\nNote: Seek progressive feedback from your Tutor on your work \u2013 early feedback and guidance
\nare encouraged and welcomed while last-minutes appointment may not be entertained.<\/p>\n","protected":false},"excerpt":{"rendered":"
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