MergedFile Assessment Information – Trimester 2, 2018 Subject Code: ACCM 4300 Subject Name: Financial Accounting & Reporting 2 Assessment Title: Teamwork Assignment Weighting: 25% Due Date: Team...

1 page memo followed by technical aspect from next page


MergedFile Assessment Information – Trimester 2, 2018 Subject Code: ACCM 4300 Subject Name: Financial Accounting & Reporting 2 Assessment Title: Teamwork Assignment Weighting: 25% Due Date: Team Presentation: During week 9, in the lecture/tutorial session Written Memo: Due Monday of Week 10 - to be submitted electronically via the student portal. Assessment Description Learning Outcome 4: Develop written and oral communication strategies to enable the effective presentation of accounting information to accountants and non-accountants. Required: Work in teams (groups) of 3 (4 with prior approval from your lecturer – if your lecturer has not approved a team of 4 the work you do will not be considered/marked) and write a memorandum (“memo”) to the board of directors (assume the members of the board have varying degrees of accounting knowledge or understanding) and then present your findings addressing the issues noted in the assignment details. Your team presentation will be limited to 10 minutes (13 minutes for 4 members if applicable) and each member of the team must present a part of it demonstrating individual oral presentation skills. A separate mark will be given to each member of the team for individual presentation skills. You must discuss the selection of teams with your lecturer who may decide to allocate you into teams or form teams using a random process. The Assignment is designed to test the following skills: 1. Your knowledge and your ability to research the issues and then apply the information appropriately using judgement 2. Your communication skills and teamwork: team presentations and written: memo writing. Part A Technical Component (15%) – This mark covers the technical content of your advice and the explanation on each of the issues, the calculations and the sources and references used, and the format of the memo as well as the group technical knowledge during the presentation. Part B Professional Competency Skills: Communication Skills – Oral presentations (10%) – This mark covers the presentation skills of the individual student of 5% and a team mark of 5% for the content, structure and visual aids for the presentation. Please make sure you follow the guidelines relating to presentation of written work, late policy and academic integrity. Please familiarise yourself with the assessment marking rubric (attached) to guide you in how you can score marks. Team Research Assignment – Written Memo and Presentation Details of Assignment: The class will be grouped into (ideally) teams of 3. You must discuss the selection of teams with your lecturer who may decide to allocate you into teams or form teams using a random process. Your lecturer may accept a team of 4 members – but you need to discuss this with your lecturer, obtain approval and finalise your team members. Select a set of financial statements for a group of companies and obtain approval from your lecturer for the group of companies that you have selected. Please note that two teams may not work on the same group of companies so if another team has already registered their interest in the particular group of companies you will be requested to select a different group of companies. Read the annual report including the financial statements of the group and write a memorandum (a report format will not be marked) to the board of directors clearly explaining some of the technical aspects of consolidation. Make sure that you draw on the selected group of companies’ specific details to explain the intricacies of consolidation to the board, and as much as possible avoid answering in general terms. Some of the aspects that you need to cover as a team are: 1. The composition of the group; namely the subsidiaries, associates, any joint ventures and any other significant investments – summarise for the memo 2. Why did the parent entity have to prepare consolidated financial statements when the subsidiary company is a separate legal entity in its own right? Is there a need for disclosure in the financial statements? Legal requirement or otherwise? 3. The non-controlling interest – where would you find it in the financial statements and what does it represent? Details of any direct and indirect non-controlling interest? What do these mean? Is it important to show them separately? Why or why not? 4. Has there been any goodwill on acquisition? Or any gain on bargain purchase? Where would you find it in the financial statements and what does it mean? Have there been any impairments to assets during the period? 5. Intra-group transactions and balances: How much are they? In which set of financial statements will we be able to locate them? Are they an important part of the consolidation process? Why or why not? 6. Does the group have any foreign subsidiary companies? How have they been accounted for in the financial statements? How have the subsidiary company’s financial statements been translated? 7. Does the published set of group financial statements reveal the company’s policy on any of the following areas, namely Sustainability; Corporate governance; Audit committees; Solvency? If so, where is the information located and why is it included? Is it compulsory to disclose these statements? Why or why not? 8. Any other relevant matter that you may wish the board of directors to make note of in respect of some transaction or event, balance of account or disclosure that will assist them in understanding the financial statements of the group. Team Research Assignment – Written Memo and Presentation Team Presentation Your team is required to explain the financial statements of the group of companies you have selected to the board of directors making sure you bring to their attention any unusual or interesting information. Please note that it doesn’t necessarily mean you need to present the information relating to the questions above. Your team presentation will be limited to 10 minutes (per group of 3) and each member of the team must present a part of it demonstrating individual oral presentation skills. A separate mark will be given to each member of the team for individual presentation skills. Note: You are not required to present your complete answer in the oral presentation by your team but can choose to present a part of your written assignment or alternatively a totally different aspect of the group you have selected within the 10-minute time frame (13 minutes for a group of 4). Remember to work as a team when presenting your company’s information to the board. Team presentations longer than the set limit will be penalised. Team Meetings 1. The team should have a minimum of three meetings (the team may have as many meetings as they need to) and should maintain minutes of those meetings detailing - 2. Where the meeting was held 3. People present; absent; apologies 4. What was discussed and agreed on; 5. The follow up action relating to each member of the team; 6. Any other relevant matter, things you agreed or disagreed on etc. The minutes of team meetings should be included as an attachment with the written copy of your assignment – the memo. Note: The assessment marking rubrics is a separate document and you are advised to read through it to obtain guidance on how the lecturers will mark your assignment. REQUIRED: 1. Presentation – according to the information given above, each team will make a presentation explaining the financial statements of the group of companies you have selected to the board of directors making sure you bring to their attention any unusual or interesting information. 2. Memo (written submission) from Team - this written document will need to be submitted via ‘Moodle’ and will also include minutes of team meetings – see instructions on the team cover sheet attached. ~~~~~~~~~~~~~~~~~~ End of Assignment ~~~~~~~~~~~~~~~~~~~ Team Research Assignment – Written Memo and Presentation Team Work Cover Sheet Team Number: ADE/BRI/MEL/SYD: ……………………………………….….…………………….. Team Name: ………………………………………………………………………………….…………. Student Number Student Name Indicate the Team Leader Instructions: By the end of week 5 Team Number: In creating your team numbers please note to include the location and then your team number; for example, ADE01Team or BRI01Team or MEL01Team…MEL02Team etc., or SYD01Team. Please note to liaise with the lecturer on your campus to get unique team numbers. Please finalise your team members and your team number with your lecturer by the end of week 5 at the latest. Inform them in class or by email. Upon submission of the assignment If you are not the team leader, then you are required to upload this cover sheet only, duly completed to include all the names and student IDs of the team members. Individual members should not upload copies of the assignment. If you are the team leader, you must upload the assignment including this cover sheet. This assignment will then be marked by the lecturer. The marks awarded will be the same for each member of the team for the “team work” section of the assignment. Please note that this cover sheet must match the with the team members you previously informed your lecturer of, and must be the same for all team members. ACCM 4300 | Assessment 2 - Assignment Marking Rubrics Group companies and oral presentations assignment 25% 15% Technical content and 10% communication skills ACCM4300 FAR2 – Assignment Rubrics Page 1 of 7 This task has been designed to measure subject learning outcome 4. Learning Outcome 4: Develop written and oral communication strategies to enable the effective presentation of accounting information to accountants and non-accountants. The assignment assesses the following outcomes: 1. Your knowledge and your ability to research the issues outlined 2.. Your ability to critically analyse the scenario and use judgement correctly in selecting and designing an appropriate response with suitable references. 3. Professional Competency Skills – Teamwork and Communication skills: oral presentation skills; memo writing skills (Be clear, concise and correct!) Overall Marks – Assessment 2: Teamwork Presentation and Memo Assignment Summary: Marks Awarded Marks Available Part A Technical Content 15.00 Part B Communication Skills 10.00 ASSESSMENT 2 - ASSIGNMENT 25.00 The assessment rubrics below set out the specific criteria that will be