BUS103 AFM –2T2017–GroupAssignmentPage 1of 5Assessment InformationSubject Code:BUS103Subject Name: Accounting for ManagersAssessment Title:TeamassignmentWeighting: 30% (Assessable value)Total Marks:60...

BUS103 AFM –2T2017–GroupAssignmentPage 1of 5Assessment InformationSubject Code:BUS103Subject Name: Accounting for ManagersAssessment Title:TeamassignmentWeighting: 30% (Assessable value)Total Marks:60 marksDue Date: Before 3.55 pm on Monday, Sept 25, 2017, Week 11.Note:Adelaide and Brisbane students please allow forthetimedifference..Assessment Description.Required:This assignment is to be completed in teams/groups. It consists of four (4) questions, all of which must be attempted. Eachgroup should have three -four students.The assignment must be submitted before the above due date to avoid any late penalties. Please make sure you follow the usual assignment presentation guidelines especially those relating to presentationof written work, late policy and academic integrity. Forming Teams: You must discuss the selection of teams with your lecturer, who may decide to allocate you into teams or he/she may decide to form teams using a random process. Any work which has been copied or shared between teams will result in a Fail grade for all students concerned. So please make sure that the answer to this team assignment is your own work and not copied from any source. Please note that a word limit exists for all questions.You must indicate your word count at the end of each question. Submissions that exceedthe word countby more than 10% will cease to be marked from the point at which that limit is exceeded.Submission: The assignment will need to be submitted electronically through the student portal –use the link under “Assessments” to submit the information and include the team cover sheet. Please note to follow the instructions on the teamwork cover sheet when submitting your team’s assignment.
BUS103 AFM –2T2017–GroupAssignmentPage 2of 5QUESTION1: (7.5+7.5 = 15 marks)Corporate and Professional-DisciplinaryactionThe Institute of Chartered Accountants website,like other accounting bodiesaround the world,publishesnotices of disciplinary decisions based on complaints against its members.Go to the Institute of Chartered Accountants website at www.charteredaccountants.com.au. Search ‘decisions-register’. Downloadthe latest professional conduct annual report and answer the following questions, avoiding the legal jargon.Required:A.Summarise the investigations and tribunal hearings, listing the nature of at least 3 common allegations,against the members of the accounting profession.. (Word limit: 375words)B.Explain why professional bodies, like Chartered Accountants, publish their decisions.(Word limit: 375words)QUESTION2: 10 marks“Financial accounting statementssuch as Balance Sheets, Income Statements and Cash Flow Statements report past events. Despite this they are used by stakeholders to make decisions for the future.”Choose a specific user group and provide an example to support this statement.(Word limit: 500 words)QUESTION3(10 + 5 = 15 marks)A.As a new management accountant, respondto this comment by a plant manager: ‘No “bean counter”knows enough about my responsibilities to be of any use to me. As I see it, our accountants may be needed to keep records for shareholders and the Australian Tax Office, but I don’t want them sticking their noses in my day-to-day operations.’(Word limit: 500 words)B.‘Knowledge of technical issues such as computer technology is a necessary but not a sufficient condition to becoming a successful management accountant.’ Do
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