I hope to have a precise referencing at the end of the assignment. Thank You
1 ACC210 Assignment – Semester 2 2022 Due Date: Friday 16 September 2022 (Week 8) at 5pm Word count: approx 1,500 words Weighting: 50% The assignment requires you to address the following questions in report format. The assignment must be your own individual work, i.e. it is not a group assignment. If it is believed that a student has copied material from another student or any other source without appropriate referencing, the necessary action will be taken under the University’s Student Academic Integrity - Governing Policy: (https://www.usc.edu.au/explore/policies-and-procedures/student-academic-integrity- governing-policy). Therefore, it is critical that you provide complete referencing for any and all sources of information (e.g. course textbook, other textbooks, journal articles, website documents etc) that you use in preparing your assignment. This includes both in-text references and a list of references at the end of your assignment. Other general points about the assignment: • The assignment should only be submitted electronically via Turnitin on the ACC210 Canvas site. If you wish to apply for an extension to your submission date, please email your Course Coordinator (
[email protected]) to explain the circumstances and attach any necessary supporting documentation. • Late penalties will be applied for assignments submitted after Friday 16 September 2022 (Week 8) at 5pm without an extension approved by your Course Coordinator Michelle Joubert. More details on late penalties are provided in the course outline. • The introduction and conclusion for the assignment does not count towards your overall word limit. • The suggested word count for each of the questions provides you with a guide to the approximate number of words that you should use in answering each question. The suggested total word count is approximately 1,500 words. But if your word count is above 1,800 words, I will not continue marking your assignment after reading that number of words. http://www.usc.edu.au/explore/policies-and-procedures/student-academic-integrity- http://www.usc.edu.au/explore/policies-and-procedures/student-academic-integrity- mailto:
[email protected] mailto:
[email protected] 2 Required: Select two companies from different industries listed on the ASX and visit their websites to access their annual reports and other relevant information. Address the following questions in report format: (a) Provide a summary of the backgrounds and operations of the two companies that you have chosen (this information can be found on the company website – usually on the home page). (150 words) (b) Analyse the corporate governance disclosures of both companies and discuss whether they comply with the ‘Eight Essential Principles of Corporate Governance’ identified by the ASX. If either company discloses non- compliance, evaluate the reasons provided for this non-compliance (this information can be found on the company website – use the search function to locate it easily). (350 words) (c) Determine and briefly discuss whether your chosen companies include a discussion of the impairment of assets in their summary of significant accounting policies and, if so, what their approach is (this information can be found in the summary of significant accounting policies and other notes to the financial statements within the most recent annual reports. It is helpful to open the annual report (usually a PDF) and hit “CTRL + F” and then enter search terms to reduce the time spent looking for information). (250 words) (d) Determine and briefly discuss on what basis your chosen companies value property, plant and equipment (50 words) (this information can be found in the summary of significant accounting policies and other notes to the financial statements within the most recent annual reports). Why might directors choose to carry property, plant and equipment at historical cost and not revalue property, plant and equipment (it is useful to look at some journal articles to assist this part of the discussion)? (200 words) (e) Discuss the treatment of intangible assets for each of your chosen companies (if there is more than one intangible asset in each of your chosen companies, discuss the treatment of only one intangible asset for each of your chosen companies) (this information can be found in the summary of significant accounting policies and other notes to the financial statements within the most recent annual reports). (250 words). (f) Provide a summary of the use of fair value and accounting estimates and judgments in each of your chosen companies (this information can be found in the summary of significant accounting policies and other notes to the financial statements within the most recent annual reports). (250 words). 3 Assessment criteria: The assignment will be marked according to the following assessment criteria: • logical application of concepts to situations, with adequate justification for choices made • professional presentation, including correct use of spelling, grammar and Harvard referencing. The rubric on the following pages provides more detail as to how the assignment will be marked: 5 Criteria (Assignment marked out of 100) High distinction (>85%) Distinction (75%- 85%) Credit (65%-75%) Pass (50%-65%) Fail (<50%) (a) (10%): summary of backgrounds and operations of two asx companies (150 words). demonstrates a thorough and concise summary of backgrounds and operations. demonstrates an effective summary of backgrounds and operations. demonstrates a good summary of backgrounds and operations. demonstrates a basic summary of backgrounds and operations. demonstrates little or no summary of backgrounds and operations. (b) (20%): analysis of corporate governance disclosures of two asx companies and discussion of compliance with eight essential principles and any reasons for non-compliance (350 words). demonstrates an extensive and very logical analysis and discussion. demonstrates a clear and effective analysis and discussion. demonstrates a good analysis and discussion. demonstrates a basic analysis and discussion. demonstrates little or no analysis and discussion. (c) (15%): determination and discussion / explanation regarding companies’ approaches to the impairment of assets (250 words) demonstrates an extensive and very logical determination and discussion / explanation. demonstrates a clear and effective determination and discussion / explanation. demonstrates a good determination and discussion / explanation. demonstrates a basic determination and discussion / explanation. demonstrates little or no determination and discussion / explanation. (d) (15%): discussion regarding choice of valuation of companies’ property, plant and equipment and possible reasons for choice between cost and revaluation (250 words). demonstrates an extensive and very logical discussion of choice of valuation and reasons for choice. demonstrates a clear and effective discussion of choice of valuation and reasons for choice. demonstrates a good discussion of choice of valuation and reasons for choice. demonstrates a basic discussion of choice of valuation and reasons for choice. demonstrates little or no discussion of choice of valuation and reasons for choice. 6 (e) (15%): discussion of the treatment of intangible assets for each company (250 words). demonstrates an extensive and very logical discussion of treatment. demonstrates a clear and effective discussion of treatment. demonstrates a good discussion of treatment. demonstrates a basic discussion of treatment. demonstrates little or no discussion of treatment. (f) (15%): summary of the use of fair value, accounting estimates and judgements in both companies (250 words). demonstrates an extensive and very logical summary of use of fair value, accounting estimates and judgements. demonstrates a clear and effective summary of use of fair value, accounting estimates and judgements. demonstrates a good summary of use of fair value, accounting estimates and judgements. demonstrates a basic summary of use of fair value, accounting estimates and judgements. demonstrates little or no summary of use of fair value, accounting estimates and judgements. professional presentation, including: overall introduction and conclusion, correct use of spelling, grammar and harvard referencing. (10%) demonstrates excellent language that clearly and concisely conveys meaning to readers with few or no spelling and grammar and/or referencing errors. demonstrates appropriate language that conveys meaning to readers with minimal spelling and grammar and/or referencing errors. demonstrates appropriate language that generally conveys meaning to readers with some spelling and grammar and/or referencing errors. demonstrates language that generally conveys meaning to readers with more spelling and grammar and/or referencing errors. demonstrates language that is not clear and/or does not convey meaning to readers. it contains frequent spelling and grammar and/or referencing errors. 7 (a)="" (10%):="" summary="" of="" backgrounds="" and="" operations="" of="" two="" asx="" companies="" (150="" words).="" demonstrates="" a="" thorough="" and="" concise="" summary="" of="" backgrounds="" and="" operations.="" demonstrates="" an="" effective="" summary="" of="" backgrounds="" and="" operations.="" demonstrates="" a="" good="" summary="" of="" backgrounds="" and="" operations.="" demonstrates="" a="" basic="" summary="" of="" backgrounds="" and="" operations.="" demonstrates="" little="" or="" no="" summary="" of="" backgrounds="" and="" operations.="" (b)="" (20%):="" analysis="" of="" corporate="" governance="" disclosures="" of="" two="" asx="" companies="" and="" discussion="" of="" compliance="" with="" eight="" essential="" principles="" and="" any="" reasons="" for="" non-compliance="" (350="" words).="" demonstrates="" an="" extensive="" and="" very="" logical="" analysis="" and="" discussion.="" demonstrates="" a="" clear="" and="" effective="" analysis="" and="" discussion.="" demonstrates="" a="" good="" analysis="" and="" discussion.="" demonstrates="" a="" basic="" analysis="" and="" discussion.="" demonstrates="" little="" or="" no="" analysis="" and="" discussion.="" (c)="" (15%):="" determination="" and="" discussion="" explanation="" regarding="" companies’="" approaches="" to="" the="" impairment="" of="" assets="" (250="" words)="" demonstrates="" an="" extensive="" and="" very="" logical="" determination="" and="" discussion="" explanation.="" demonstrates="" a="" clear="" and="" effective="" determination="" and="" discussion="" explanation.="" demonstrates="" a="" good="" determination="" and="" discussion="" explanation.="" demonstrates="" a="" basic="" determination="" and="" discussion="" explanation.="" demonstrates="" little="" or="" no="" determination="" and="" discussion="" explanation.="" (d)="" (15%):="" discussion="" regarding="" choice="" of="" valuation="" of="" companies’="" property,="" plant="" and="" equipment="" and="" possible="" reasons="" for="" choice="" between="" cost="" and="" revaluation="" (250="" words).="" demonstrates="" an="" extensive="" and="" very="" logical="" discussion="" of="" choice="" of="" valuation="" and="" reasons="" for="" choice.="" demonstrates="" a="" clear="" and="" effective="" discussion="" of="" choice="" of="" valuation="" and="" reasons="" for="" choice.="" demonstrates="" a="" good="" discussion="" of="" choice="" of="" valuation="" and="" reasons="" for="" choice.="" demonstrates="" a="" basic="" discussion="" of="" choice="" of="" valuation="" and="" reasons="" for="" choice.="" demonstrates="" little="" or="" no="" discussion="" of="" choice="" of="" valuation="" and="" reasons="" for="" choice.="" 6="" (e)="" (15%):="" discussion="" of="" the="" treatment="" of="" intangible="" assets="" for="" each="" company="" (250="" words).="" demonstrates="" an="" extensive="" and="" very="" logical="" discussion="" of="" treatment.="" demonstrates="" a="" clear="" and="" effective="" discussion="" of="" treatment.="" demonstrates="" a="" good="" discussion="" of="" treatment.="" demonstrates="" a="" basic="" discussion="" of="" treatment.="" demonstrates="" little="" or="" no="" discussion="" of="" treatment.="" (f)="" (15%):="" summary="" of="" the="" use="" of="" fair="" value,="" accounting="" estimates="" and="" judgements="" in="" both="" companies="" (250="" words).="" demonstrates="" an="" extensive="" and="" very="" logical="" summary="" of="" use="" of="" fair="" value,="" accounting="" estimates="" and="" judgements.="" demonstrates="" a="" clear="" and="" effective="" summary="" of="" use="" of="" fair="" value,="" accounting="" estimates="" and="" judgements.="" demonstrates="" a="" good="" summary="" of="" use="" of="" fair="" value,="" accounting="" estimates="" and="" judgements.="" demonstrates="" a="" basic="" summary="" of="" use="" of="" fair="" value,="" accounting="" estimates="" and="" judgements.="" demonstrates="" little="" or="" no="" summary="" of="" use="" of="" fair="" value,="" accounting="" estimates="" and="" judgements.="" professional="" presentation,="" including:="" overall="" introduction="" and="" conclusion,="" correct="" use="" of="" spelling,="" grammar="" and="" harvard="" referencing.="" (10%)="" demonstrates="" excellent="" language="" that="" clearly="" and="" concisely="" conveys="" meaning="" to="" readers="" with="" few="" or="" no="" spelling="" and="" grammar="" and/or="" referencing="" errors.="" demonstrates="" appropriate="" language="" that="" conveys="" meaning="" to="" readers="" with="" minimal="" spelling="" and="" grammar="" and/or="" referencing="" errors.="" demonstrates="" appropriate="" language="" that="" generally="" conveys="" meaning="" to="" readers="" with="" some="" spelling="" and="" grammar="" and/or="" referencing="" errors.="" demonstrates="" language="" that="" generally="" conveys="" meaning="" to="" readers="" with="" more="" spelling="" and="" grammar="" and/or="" referencing="" errors.="" demonstrates="" language="" that="" is="" not="" clear="" and/or="" does="" not="" convey="" meaning="" to="" readers.="" it="" contains="" frequent="" spelling="" and="" grammar="" and/or="" referencing="" errors.="">50%) (a) (10%): summary of backgrounds and operations of two asx companies (150 words). demonstrates a thorough and concise summary of backgrounds and operations. demonstrates an effective summary of backgrounds and operations. demonstrates a good summary of backgrounds and operations. demonstrates a basic summary of backgrounds and operations. demonstrates little or no summary of backgrounds and operations. (b) (20%): analysis of corporate governance disclosures of two asx companies and discussion of compliance with eight essential principles and any reasons for non-compliance (350 words). demonstrates an extensive and very logical analysis and discussion. demonstrates a clear and effective analysis and discussion. demonstrates a good analysis and discussion. demonstrates a basic analysis and discussion. demonstrates little or no analysis and discussion. (c) (15%): determination and discussion / explanation regarding companies’ approaches to the impairment of assets (250 words) demonstrates an extensive and very logical determination and discussion / explanation. demonstrates a clear and effective determination and discussion / explanation. demonstrates a good determination and discussion / explanation. demonstrates a basic determination and discussion / explanation. demonstrates little or no determination and discussion / explanation. (d) (15%): discussion regarding choice of valuation of companies’ property, plant and equipment and possible reasons for choice between cost and revaluation (250 words). demonstrates an extensive and very logical discussion of choice of valuation and reasons for choice. demonstrates a clear and effective discussion of choice of valuation and reasons for choice. demonstrates a good discussion of choice of valuation and reasons for choice. demonstrates a basic discussion of choice of valuation and reasons for choice. demonstrates little or no discussion of choice of valuation and reasons for choice. 6 (e) (15%): discussion of the treatment of intangible assets for each company (250 words). demonstrates an extensive and very logical discussion of treatment. demonstrates a clear and effective discussion of treatment. demonstrates a good discussion of treatment. demonstrates a basic discussion of treatment. demonstrates little or no discussion of treatment. (f) (15%): summary of the use of fair value, accounting estimates and judgements in both companies (250 words). demonstrates an extensive and very logical summary of use of fair value, accounting estimates and judgements. demonstrates a clear and effective summary of use of fair value, accounting estimates and judgements. demonstrates a good summary of use of fair value, accounting estimates and judgements. demonstrates a basic summary of use of fair value, accounting estimates and judgements. demonstrates little or no summary of use of fair value, accounting estimates and judgements. professional presentation, including: overall introduction and conclusion, correct use of spelling, grammar and harvard referencing. (10%) demonstrates excellent language that clearly and concisely conveys meaning to readers with few or no spelling and grammar and/or referencing errors. demonstrates appropriate language that conveys meaning to readers with minimal spelling and grammar and/or referencing errors. demonstrates appropriate language that generally conveys meaning to readers with some spelling and grammar and/or referencing errors. demonstrates language that generally conveys meaning to readers with more spelling and grammar and/or referencing errors. demonstrates language that is not clear and/or does not convey meaning to readers. it contains frequent spelling and grammar and/or referencing errors. 7>