Refer to attached files
HOLMES INSTITUTE FACULTY OF HIGHER EDUCATION HI5020 Corporate Accounting Individual Assignment T3 2022 Assessment Details and Submission Guidelines Trimester T3 2022 Unit Code HI5020 Unit Title Corporate Accounting Assessment Type Individual Assignment Assessment Title Issues in Cash Flow Statement Purpose of the assessment (with ULO Mapping) (ULO 1, 3, 4, 5). Weight 35 % of the total assessments (35 marks) Total Marks 35 % in a written report Word limit 3000 words ±500 words Due Date Assignment submission: Final Submission of individual Assignment: Wednesday, Week 10, 11:59 pm Late submission incurs penalties of five (5) % of the assessment value per calendar day unless an extension and/or special consideration has been granted by the lecturer prior to the assessment deadline. Submission Guidelines • All work must be submitted on Blackboard by the due date, along with a completed Assignment Cover Page. • The assignment must be in MS Word format, with no spacing, 12-pt Arial font and 2 cm margins on all four sides of your page with appropriate section headings and page numbers. • Reference sources must be cited in the text of the report and listed appropriately at the end in a reference list using Adopted Harvard referencing style. The following guidelines apply: Adapted Harvard Referencing Rules Holmes has implemented a revised Harvard approach to referencing. The following rules apply: 1. Reference sources in assignments are limited to sources that provide full- text access to the source’s content for lecturers and markers. 2. The reference list must be located on a separate page at the end of the essay and titled: “References”. 3. The reference list must include the details of all the in-text citations, arranged A-Z alphabetically by author surname with each reference numbered (1 to 10, etc.) and each reference MUST include a hyperlink to the full text of the cited reference source. For example: 1. Hawking, P., McCarthy, B. & Stein, A. 2004. Second Wave ERP Education, Journal of Information Systems Education, Fall, http://jise.org/Volume15/n3/JISEv15n3p327.pdf http://jise.org/Volume15/n3/JISEv15n3p327.pdf Page 2 of 11 HI5020 Corporate Accounting Individual Assignment T3 2022 4. All assignments must include in-text citations to the listed references. These must include the surname of the author/s or name of the authoring body, year of publication, page number of the content, and paragraph where the content can be found. For example, “The company decided to implement an enterprise-wide data warehouse business intelligence strategy (Hawking et al., 2004, p3(4)).” Non-Adherence to Referencing Rules Where students do not follow the above rules: 1. For students who submit assignments that do not comply with the rules, a 10% penalty will be applied. 2. As per the Student Handbook, late penalties will apply each day after the student/s has been notified of the due date. 3. Students who comply with rules and the citations are “fake” will be reported for academic misconduct. • Page 3 of 11 HI5020 Corporate Accounting Individual Assignment T3 2022 Assignment Specifications Assessment tasks: Download the annual financial reports of Woolworth Ltd, After Pay Ltd, and Santos Ltd for the years 2021, 2020 and 2019. Examine the consolidated Cash Flow Statements for each companies across three years. Answer the following questions about each of the three cash-flow statements. 1. For each company [except mentioned otherwise as in c), g), and l) below], across three years on the Statement of Cash Flows, discuss: a) What are the major sources of cash for each firm? What are the major uses of cash for each firm? b) What was the trend in cash flow from (continuing) operations for each firm? c) Compare and contrast the cash flow from operations with the net profit after tax in the income statement. Explain in detail the major reasons for the difference between these two figures. (Answer this question using only the Cash flow statement for Woolworth Ltd). d) Was the firm able to generate enough cash from operations to pay for all of its capital expenditures? e) Did the cash flow from operations cover the dividend payment made by the firm (if any)? f) If the firm has generated excess cash from operations, how did the firm invest the excess cash? If not, what were the sources of cash the firm used to pay for the capital expenditures and/or dividends? g) Did the firm use the working capital (current asset and current liability) accounts other than cash and cash equivalents as sources of cash, or uses of cash? (Answer this question using only the Cash flow statement for Woolworth Ltd). h) What other major items affected cash flows for each firm? i) What was the trend in capital expenditures for each firm? j) What was the trend in dividends (if any) for each firm? k) What was the trend in net borrowing (proceeds from borrowing fewer payments of short- and long-term debt) for each firm? l) What was the trend in working capital accounts? (Answer this question using only the Cash flow statement for Woolworth Ltd). 2. Critically evaluate the financial strength of each of the three companies based on the evidence presented in the Statement of Cash Flows, and your answers in (1) above. 3. If you are asked to evaluate these three companies for lending purposes, which of the three companies will you select for lending? Explain Why. 4. Do your own research and explain why investors need to analyse the statement of cash flows along with other financial statements such as income statements rather than looking into the statement of cash flows alone. Page 4 of 11 HI5020 Corporate Accounting Individual Assignment T3 2022 The assignment Structure should be as the following: Abstract - One paragraph List of Content Introduction Body of the assignment with a detailed answer on each of the required tasks Summary/Conclusion List of references ….. Marking criteria Marking criteria Weighting Abstract 1% List of content & overall presentation of the assignment 1% Introduction 1% What are the major sources of cash for each firm? What are the major uses of cash for each firm? 1% What was the trend in cash flow from (continuing) operations for each firm? 1% Compare and contrast the cash flow from operations with the net profit after tax in income statement. Explain in detail the major reasons for the difference between these two figures. (Answer this question using only the Cash flow statement for WOOLWORTH Limited). 3% Was the firm able to generate enough cash from operations to pay for all of its capital expenditures? 1% Did the cash flow from operations cover the dividend payment made by the firm (if any)? 1% If the firm has generated excess cash from operations, how did the firm invest the excess cash? If not, what were the sources of cash the firm used to pay for the capital expenditures and/or dividends? 1% Did the firm use the working capital (current asset and current liability) accounts other than cash and cash equivalents as sources of cash, or uses of cash? (Answer this question using only the Cash flow statement for WOOLWORTH Limited). 3% What other major items affected cash flows? 1% What was the trend in capital expenditures for each firm? 1% What was the trend in dividends (if any) for each firm? 1% What was the trend in net borrowing (proceeds from borrowing less payments of short- and long-term debt)? 1% What was the trend in working capital accounts? (Answer this question using only the Cash flow statement for WOOLWORTH Limited). 1% Critically evaluate the financial strength of each of the three companies based on the evidence presented in the Statement of Cash Flows. 6% If you are asked to evaluate these three companies for lending purposes, which of the three companies you will select for lending? Explain Why. 4% Do your own research and explain why investors need to analyse the statement of cash flows along with other financial statements such as income statement rather than looking into statement of cash flows alone. 5% Conclusion 1% TOTAL Weight 35% Page 5 of 11 HI5020 Corporate Accounting Individual Assignment T3 2022 Academic Integrity Holmes Institute is committed to ensuring and upholding Academic Integrity, as Academic Integrity is integral to maintaining academic quality and the reputation of Holmes' graduates. Accordingly, all assessment tasks need to comply with academic integrity guidelines. Table 1 identifies the six categories of Academic Integrity breaches. If you have any questions about Academic Integrity issues related to your assessment tasks, please consult your lecturer or tutor for relevant referencing guidelines and support resources. Many of these resources can also be found through the Study Sills link on Blackboard. Academic Integrity breaches are a serious offence punishable by penalties that may range from deduction of marks, failure of the assessment task or unit involved, suspension of course enrolment, or cancellation of course enrolment. Table 1: Six categories of Academic Integrity breaches Plagiarism Reproducing the work of someone else without attribution. When a student submits their own work on multiple occasions this is known as self-plagiarism. Collusion Working with one or more other individuals to complete an assignment, in a way that is not authorised. Copying Reproducing and submitting the work of another student, with or without their knowledge. If a student fails to take reasonable precautions to prevent their own original work from being copied, this may also be considered an offence. Impersonation Falsely presenting oneself, or engaging someone else to present as oneself, in an in-person examination. Contract cheating Contracting a third party to complete an assessment task, generally in exchange for money or other manner of payment. Data fabrication and falsification Manipulating or inventing data with the intent of supporting false conclusions, including manipulating images. Source: INQAAHE, 2020 HOLMES INSTITUTE FACULTY OF HIGHER EDUCATION HI5020 Corporate Accounting Individual Assignment T3 2022 Marking Rubric Excellent/ Hi Distinction Very Good/ Distinction Good/ Credit Satisfactory/ Pass Unsatisfactory/ Fail Abstract (1 marks) Apply judgement List of content & overall presentation of the assignment (1 marks) Apply judgement Introduction (1 marks) Apply judgement What are the major sources of cash for each firm? What are the major uses of cash for each firm?/1 Major sources of cash and major uses of cash are identified and discussed in detail. Major sources of cash and uses of cash are identified. Detailed discussion is provided with minor errors. Major sources of cash and uses of cash are identified with minor errors. Basic discussions are attempted with minor errors. Major sources of cash and uses of cash are identified with material errors. Basic discussions are attempted with material errors. No clear attempt is made to identify the major sources of cash and uses of cash. No discussion is provided. What was the trend in cash flow from (continuing) operations for each firm?/1 Trends in the cash flows from continuing operations are identified and discussed adequately. Demonstrate outstanding knowledge beyond requirements on the topic. Independent and in-depth analysis. Trends in the cash flows from continuing operations are identified. Discussion is not comprehensive. Demonstrate very good knowledge on the topic. Trends in the cash flows from continuing operations are identified with minor errors. Basic discussion has been provided with minor errors. Demonstrate good knowledge on the topic. Trends in the cash flows from continuing operations are identified with material errors