Individual assignment Due date for the individual assignment task: 11.59pm Wednesday 23 September...

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Individual assignment Due date for the individual assignment task: 11.59pm Wednesday 23 September 2020. Individual assignment: ·Submit your essay through Turnitin, addressing the question outlined...

Individual assignment

Due date for the individual assignment task: 11.59pm Wednesday 23 September 2020.

Individual assignment:

·Submit your essay through Turnitin, addressing the question outlined below.

·Word limit is 1,600 words (not including the cover sheet, or reference list).Reports not within +/- 10% of 1,600 words will be penalised

·Attach a cover sheet (as provided on Moodle) to each assignment

·Reference in accordance with the Harvard referencing system.

Harris Scarfe knew “books were cooked”.

(Sydney Morning Herald 10 Feb 2005)

Required

Write an academic essay addressing the following question:

To what extent was the accounting scandal at Harris Scarfe the result of a breach of trust by the accountants involved, and to what extent the result of poor corporate governance?

In your essay address the following:

1.The key facts ofthe Harris Scarfeaccounting scandal, and the accounting issues involved.

2.The principles of ethical behaviour listed in APES 110 that were breached by the accountants atHarris Scarfe.

3.The impact of the scandal on the shareholders and other stakeholdersHarris Scarfe.

Refer to the Rubric on the next page for the mark allocation.You are expected to refer to at least 4 references in your essay.

TACC 615 Rubric: Assessment Criteria andPerformance Standards for Essay
Assessment criteria	Mark/15	Performance Standard
Assessment criteria	Mark/15	Low –Not achieved	Low butsome evidence of attainment	Achieved as required butsomeinaccuracies and errors	Achieved as required with very few inaccuracies or errors	Exceptional attainmentwithadditional outcomes and information
Introduction	/2	0-1	2	3	4	5
Introduction	/2	No clear synopsis and introduction provided	Brief synopsis and introductionbutincomplete and inaccurate	Synopsis and introduction providedbutcould be more concise and clear	Clear synopsis and introduction providedtoowordy	Clear, concise andwell expressedsynopsis and introduction provided
Topic relevance	/2	0-1	2	3	4	5
Topic relevance	/2	Topictotallyirrelevant and inappropriate	Topic lacks clear relevance, could be more direct and to the point	Topic relevance appropriate but sometimesstraysfrom the major theme	Topic appropriate and relevant	Topic appropriate and relevantwithparticularly relevant insights
Depth of Research	/2	0-1	2	3	4	5
Depth of Research	/2	No evident research into the topic	Someresearch evidentbutfew citations	Research is evidentbutlimited. Citations appropriate tocontext	Research is evident and goes beyond recommended list with citations appropriate tocontext	Research is extensive with particularly insightful citations
Critical thinking, analysis &synthesis	/3	0-1	2	3	4	5
Critical thinking, analysis &synthesis	/3	Very littleorno evidenceofunderstanding of the topic	Someunderstanding of the topic evident but with little evidenceofcritical thinking and analysis	Understanding of the topic evident–some critical thinking, analysis and synthesis of available literature	Good understanding of the topicwithevidenceofcriticalthinkingwith deep analysis and synthesis of information	Very high understanding of the topicwithinsightful evaluative comments and conclusions
Conclusion	/2	0-1	2	3	4	5
Conclusion	/2	No clear conclusion provided	Brief conclusion providedbutnot particularly clear or relevant	Well summarized butconclusionis not particularly concise	Well summarized clear and relevant and concise conclusion	Exceptional conclusion–clear, concise and insightful
Writing style &grammar	/2	0-1	2	3	4	5
Writing style &grammar	/2	Very poor grammatical expression and spelling errors	Low levelsofwriting ability evident, simple expression with many spelling and grammatical errors	Average levels of writing ability with some spelling and grammatical errors	Highlevel of writing ability–clearconcise expression with few grammatical or spelling inaccuracies	Very high level of writing ability with no grammatical or spelling errors.
Referencing	/2	0-1	2	3	4	5
Referencing	/2	None or few references and citations	Somereferencesbut lacking in accuracy or proper useof areferencing style	Appropriate references with some inaccuracies in the use ofareferencing style	Asprevious but with additional independent input by the writer	References accurate andgowell beyond those provided bylecturer

Answered Same DaySep 19, 2021

Harshit · Accepted Answer

CASE STUDT-HARRIS SCARFE
	Sr No.
	Contents
	Page No.
	1.
	Introduction
	3
	2.
	The Facts About Collapse Of Harris Scarfe
	3-4
	3.
	Principle Of Ethical Behavior As Per Apes 110 That Were Breached By Accountants At Harris Scarfe
	4-5
	4.
	Conclusion
	6
INTRODUCTION:
The report is about the accounting scandal at Harris Scarfe. Harris Scarpe is a department stores company that is located in Adelaide, South Australia and was founded in the year 1849. It is a retailer dealing in various products like bed linen, kitchenware, electrical appliances, etc. The company was also involved in the business of leather products. The company has fall into one of the biggest scandals during 2000 in Australia and had to bear obligations of around $265 million. The report will explore the reasons of corporate collapse of the third largest retail group in Australia.The main reason was accounting irregularities and corporate scandals. Due to this, not only was Harris Scarfe affected by severe decline but it also had adverse impact on the accounting and auditing profession. This was one of the biggest scandals in the corporate in Australia
THE FACTS ABOUT COLLAPSE OF HARRIS SCARFE:
The accounting irregularities were first observed when suddenly in 2001 there was a sudden cash-flow problem in the business which surprised the suppliers and the customers along with the stakeholders. It all started when some of the suppliers walked into a store in a mall in Australia and started to remove the stock in the store in the mall. The employees in the store was taken by surprise but the supplier took the stock as the same was purchased on credit and due to the cash flow problems in the company, the creditors and suppliers were not paid on time and taking the stock at hand with the company was the only resort available to the company. In March, 2001, the stock position of the company in the market declined, the main behind this is attributed to the fact that the company used to show higher profits and presented a fraudulent picture to its stakeholders. Due to this, Harris Scarfe was in news everywhere in Australia. The suppliers were worried as they had given huge stocks to the company on creditand they started removing of the stock from one of the stores of the Harris Scarpe. As a result of this, the company entered into voluntary declaration (receivership) which was followed by the company’s shares being withdrawn from the Australian Stock Market. When the books of the accounts were looked into after this, the company was seen with huge debts.
In one of the sessions, in the courts, an accountant of the company provided the evidence that the books of accounts of the company is falsely represented since 1994. Anthony Wight, the accountant said that this practice was followed in the organization from the last five years. He said that the Chief Financial Officer of the company, Alan Hodgson has directed him to show false accounts to attract investors. Since then,

Individual assignment Due date for the individual assignment task: 11.59pm Wednesday 23 September 2020. Individual assignment: ·Submit your essay through Turnitin, addressing the question outlined...

Harris Scarfe knew “books were cooked”.

Answer To: Individual assignment Due date for the individual assignment task: 11.59pm Wednesday 23 September...

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