Assessment Task – Writing an Accounting Research Proposal This task is intended to introduce you to the research process that underlies much of the work and theoretical discussions you are...

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Assessment Task – Writing an Accounting Research Proposal



This task is intended to introduce you to the research process that underlies much of the work and theoretical discussions you are participating in this semester. You will need to draw on skills learnt and on your thinking about the information provided in lectures and in the textbook, in the tutorials and through the academic journal articles you have read.


We know that there are different streams in accounting: financial accounting, management accounting, auditing, accounting education etc. You are required to choose an accounting topic and write a research proposal on it.


This task will be completed in a number of parts identified below. Use the headings provided. This question is provided in Word format so that you can use the structure as a starting point.


For the purpose of this exercise, assume your audience includes experienced research academics, a potential postgraduate research supervisor, as well as other first-time research students. Your work should be communicated at the 700-level Masters standard.


The word limit on each part is a
suggestion
only: The overall word limit is 3,000 words, including references, and you will need to strike an appropriate balance. The largest section of your proposal will be the Literature Review (step 4) by far.






1. Background (300 words)


• Identify an area of accounting research that is both important and of interest to you. Explain why it is of interest to you.




2. Motivation and justification (300 words)
• Present a brief argument to justify others’ need for, and the potential usefulness of, research in this area. Whilst you could base this argument on personal experience or opinion, ensure that you also include reasoning based on knowledge gained in your studies and any gaps you have identified in the literature (IE: include references).





3. Research Aim (200 words)
• Now narrow the scope of your study to a more specific context. Briefly describe a specific accounting research problem you would like to explore.


• Identify an over-arching research question derived from your problem statement to be answered.


• Identify specific research questions that would assist your exploration of the research problem and the over-arching research question. Only one question is necessary, but sometimes we must ask a couple of preliminary questions before we have all the information, we need to ask the main question. (It must be possible to answer these questions.)


• Identify a title for your research.






4. Literature Review (1100 words)
• Provide a literature review (at least five relevant academic journal articles*) to support your research question(s) that need to be analysed to address your research problem.


• Explain why each article is relevant to your research, and why the information will contribute to being able to support the research investigation proposed. Be critical in your analysis. {NOTE: this is NOT a summary of the articles but your arguments identifying relevance for your proposed study}.


• Present a brief argument for the adoption of a theory or theories to guide and support your research.



* Overall, throughout this proposal, you should aim for at least 10 references, but some of these might be corporate reports, research books, regulations, case law, etc. Your literature review, however, should include a minimum of five academic journal articles.






5. Research design and method (300 words)
• Explain how the theory/theories emerging from step 4 can guide you in the design of your research.


• What do you need to know to answer your research question(s)? What appropriate research methods would you use (research method)? Survey, content analysis, interviews etc.


• Why are your research methods appropriate in relation to your research question/s?




6.
Expectation on findings (200 words)


• Write a paragraph on what results you might expect. This is a prediction and related to your original motivations for the research.


• Try to relate your expected findings to the theory in your literature review. That is, what have you found in the literature which might explain the results you expect?




7. Contribution (200 words)


• Write a paragraph outlining the contribution of your research.


• What’s new about your research


• So what – why is it important to know the answer to your research question(s)




8. In-text references and a reference list


• Use the Harvard System of referencing.





Note: please paraphrase your arguments, do not directly copy the arguments from research papers or online materials (which may lead to plagiarism and a breach of academic integrity).

Answered Same DaySep 14, 2021

Answer To: Assessment Task – Writing an Accounting Research Proposal This task is intended to introduce you...

Ishmeet Singh answered on Sep 21 2021
148 Votes
Expansion of Commonwealth Bank in Asia
Accounting for Illiquidity Discounts: M&A Prospective
INDEX:                                PAGE NO.
1. Background                                3
2. Motivation & Justification                        4
3. Research Aim                                 4
4. Literature Review                                5
5. Research Design & Methods                        11
6. Expectations On Findings                            11
7. Contribution                                11
8. In Text Referencing                                12
Glossary & Abbreviations:
             ICAL: Indigenous Customer Assistance Line
             SWOT: Strength Weakness Opportunity Threat
             PESTEL: Political Economic Social Technology Environment & Legal
             M&A: Mergers & Acquisitions
             JVs: Joint Ventures
    
BACKGROUND:
We are drifting towards an era where companies and corporates are paying special em
phasis on organizational growth and achieving targets and relevant market share as quick as possible. Research and Development in the sectors of Marketing and Digitization has provided with enough evidences that consumer is constrained by Inertia. Inertia in the sense of technology and preference, therefore it is important for corporates to utilize the very fact and accelerate the growth in order to achieve first mover advantage.
    Coming to the fundamental aspect of growth, growth can be achieved in two ways organic and inorganic growth where organic growth serves a self-reliant and dominant prospect on the nature of the business. Inorganic growth is fast; gives opportunity for portfolio diversification, is prominently a strategic decision and can serve as ways to enhance a stagnant or saturated market growth recovery factor.
    Inorganic growth is basically achieved via means of Mergers & Acquisitions, where in former is realized when a legal entity change is observed whereas the latter is realized in a way of redistribution of stakes/shares or equity redistribution. Mergers & Acquisitions serves in a variety of ways expands market, product portfolios, taxation benefits, synergy benefits but the main & the most dominant reason behind any M&A deal is simply the company wants to realize an accretion in the EPS or earnings per share. The whole research study is based upon the fact that how these numbers are churned by the Investment banking firm and careful consideration while arriving at an EPS figure for any enterprise in order to arrive at a deal price.
MOTIVATION AND JUSTIFICATION:
A very interesting pattern was observed when we went through the reports of World Bank & ICC in order to realize that contribution of various business and corporates in retail, trade and commercial banking which is as follows:
Whereas when you go by the seekers for funds the whole picture would be quite different. It is undeniable that the role of SME’s and MSME’s in funding activities is huge approximately reaching 80% of global lending requisitions.
    Yet it is also a constraint to check their credit and repaying capacity. At this point of time it makes sense to pinpoint that the discussion is happening for non-listed private companies who may not be listed in SEC yet are significant in contribution to economy.
The need for liquidity arises in the following cases:
1) While changing portfolios.
2) Liquidation of assets for insolvency.
3) Making Valuations
Therefore, it is important to know the cost implications while going for liquidation, where for a listed firm that cost maybe small for SME’s and non-listed companies it can be huge. Thus, we need the concept of Illiquidity Discounts.
Factors of Illiquidity Discount:
1) Liquidity of assets owned by the firm
2) Financial Health and cash flows of the firm
3) Possibility of going public in the future
4) Size of the Firm
RESEARCH AIM:
The aim of the research is to present a simulation based model in which a careful consolidation over the aspects of EPS will be figured out. We will try to arrive at a point where will be proving the yes a marginal change in EPS does effect the valuation prospect plus we will try to quantify how to gather illiquidity discounts, making adjustments and ultimately deciding whether to go for deal.
Two simulations will be presented one of the famous Microsoft LinkedIn; second will be non-listed companies largely prone to illiquidity discounts.
LITERATURE REVIEW: (Simulation -1)
    Source of data / information:-
    
    
    
    
    
    
    
    
    
    1
    Microsoft FY 2014A, 2015A & 2016A P&L, BS & Shares outstanding figures from Microsoft's FY 15 and FY17 10K Filing.
    
    2
    Microsoft future projections are assumptions based estimates; excludes LinkedIn's financials.
    
    
    
    
    FY17 revenue is actual revenue as per FY17 10 K filing less the revenue of $ 2.3 bn on account of LinkedIn.
    
    3
    LinkedIn abridged P&L based on Financial Forecasts, Page 55, Schedule 14A Information filed by LinkedIn with US SEC.
    
    
    LinkedIn's financials for FY 2014A, 2015A as per annual report.
    
    
    
    
    
    
    4
    LinkedIn's weighted average shares outstanding (basic and diluted) for FY17E has been reverse calculated based on:
    
    
    Total purchase price of $ 27,009 mn and per share consideration of $ 196
    
    
    
    
    
    5
    For the purpose of consolidation; Microsoft balance sheet as on 30th Sep 2016 is merged with that of
    
    
    
    LinkedIn statements of assets & liabilities as on 8th Dec 2016.
    
    
    
    
    
    
    6
    Microsoft Balance sheet as on 30th Sep 2016 is based on Q1FY17 10Q filing by Microsoft.
    
    
    
    7
    LinkedIn statement of assets and liabilities is based on information in Part II, Item 8, Page 71 in the
Microsoft's FY17 10K Filing.
    8
    Total purchase price of $ 27,009 mn is as per Microsoft's FY17 10K filing.
    
    
    
    
    
    9
    Adjusted EBITDA is net income (loss), plus: provision for income taxes;
    
    
    
    
    
    
    other (income) expense, net; depreciation and amortization; and stock-based compensation.
    
    
    10
    Balance sheet figures have been regrouped where necessary.
    
    
    
    
    
    
    11
    MSFT is the trading symbol for Microsoft on NYSE; LNKD was the trading symbol of LinkedIn on NYSE.
    
    
    Microsoft Corporation
    
    
    
    
    
    
    
    
    
    Fiscal year ends
    30th June
    
    
    
    
    
    
    All financials below in $ mn except nos. of shares in mn and per share data in $
    FY2014A
    FY2015A
    FY2016A
    FY2017E
    FY2018E
    FY2019E
    FY2020E
    Abridged P&L
    
    
    
    
    
    
    
    
    Revenue
    86,833
    93,580
    85,320
    87,650
    90,044
    92,503
    95,029
    
    y-o-y growth
    12%
    8%
    -9%
    3%
    3%
    3%
    3%
    
    Adjusted EBITDA
    35,417
    34,190
    30,102
    30,924
    31,769
    32,636
    33,527
    
    Adjusted EBITDA Margin
    41%
    37%
    35%
    35%
    35%
    35%
    35%
    
    PAT
    22,074
    12,193
    16,798
    17,257
    17,728
    18,212
    18,709
    PAT Margin
    25%
    13%
    20%
    20%
    20%
    20%
    20%
    
    
    
    
    
    
    
    
    
    Weighted average shares outstanding
    
    
    
    
    
    
    
    Basic
    8,299
    8,177
    7,925
    7,925
    7,925
    7,925
    7,925
    
    Diluted
    8,399
    8,254
    8,013
    8,013
    8,013
    8,013
    8,013
    Earnings per share
    
    
    
    
    
    
    
    
    Basic
    2.66
    1.49
    2.12
    2.18
    2.24
    2.30
    2.36
    
    Diluted
    2.63
    1.48
    2.10
    2.15
    2.21
    2.27
    2.33
    
    P/E ratio
    19.6x
    34.8x
    24.6x
    23.9x
    23.3x
    22.7x
    22.0x
    
    
    
    
    
    
    
    
    
    LinkedIn Corporation
    
    
    
    
    
    
    
    
    
    Fiscal year ends
    31st Dec
    
    
    
    
    
    
    Abridged P&L
    FY2014A
    FY2015A
    FY2016E
    FY2017E
    FY2018E
    FY2019E
    FY2020E
    
    Revenue
    2,219
    2,991
    3,738
    4,615
    5,529
    6,421
    7,365
    
    y-o-y growth
    45%
    35%
    25%
    23%
    20%
    16%
    15%
    
    Adjusted EBITDA
    592
    780
    1,031
    1,391
    1,824
    2,236
    2,666
    
    EBITDA...
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