ASSIGNMENT TASKS
Obtain the annual reports for FY 2015-16 and FY 2014-15 of the company that was assigned
to your group by your tutor.
In your video report you need to take into consideration and discuss the following 4 points:
1) Explain the primary activities of your company and discuss its financial and social
performance in FY 2015-16 in comparison to the previous FY 2014-15. (500 Words)
2) Focus your attention on the Statement of Profit and Loss and Other Comprehensive
Income. Compare the Profit or Loss of the Year with the Total Comprehensive
Income in FY 2015-16 and the Profit or Loss of the Year with the Total
Comprehensive Income FY 2014-15. Discuss the nature of the difference (if any)
between the two figures in the two financial years and identify whether the
difference is related to extraordinary or non-recurring events. (500 Words)
3) Focus on the leases agreements the company has entered, as a lessee. As the new
lease accounting standard (AASB16) will be enforced from 2019, the company is
probably still applying the previous accounting standard (AASB117). Discuss how
the new accounting standard will impact the assets, liabilities and profit of your
company. (500 Words)
4) Focus on intangible assets and goodwill in particular. After carefully examining how
the company carries impairment testing, explain what are the cash generating units
and identify the criterion for their choice in your company. (500 Words)
5) Consider the items included in property, plant and equipment. Illustrate whether
these items are measured according to cost or fair value in the report. Explain,
supporting your answer, which model between cost or revaluation is to be
preferred to provide a “true and fair” representation of the company’s assets. (500
Words) ACCT1048 Financial Accountability And Reporting Group Assignment, 2017 Appendix 1 MINUTES Meeting
Date
Time
Location
Attendees
Apologies
Previous meeting date Item Discussion/Outcomes Business from previous
minutes 1.1 Item Description
Discussion Points New business Other business Date, time & location of
next meeting Action & Person responsible 1.2 Item Description
Discussion Points
2.1 Item Description
Discussion Points
2.2 Item Description
Discussion Points
3.1 Item Description
Discussion Points
3.2 Item Description
Discussion Points
DATE, TIME, LOCATION ACCT1048 Financial Accountability And Reporting Group Assignment, 2017 Criteria
Depth and
accuracy of
the report Unsatisfactory
- The report fails to address with
accuracy most of the questions on the
reporting
- The research presented does not
respond to the questions
- The responses are not current and
from reliable sources
0-1 mark
Ability to
- The responses lack clarity
synthesise
- The information is not coherent with
information into the questions
coherent and
- The responses lack relevance and/or
pertinent
most of them are erroneous
response(s)
0-1 mark
Ability to
- Significant improvements in the
present on
presentation of the report
camera and
are needed
deliver a clear - The report is not easy to understand
message
- Not all responses have been included Ability to
present
information
making proper
use of the
technical
language 0-1 mark
- Little or no attempt has been made to
use technical language and professional
terminology
- The responses are not clear to read Needs Improvement
- Some of the materials presented in
the report are relevant
- There is a lack of accuracy and
precision in the given responses
- The responses are not all relevant but
is from reliable sources Good
Excellent
- Most of the materials presented in - All the materials presented in the
the report is relevant
report is relevant
- There is general accuracy and
- There is high level of accuracy and
precision in the given responses
precision in the given responses
- Most of the responses are relevant - All the responses are highly
and from reliable sources
relevant and from reliable sources 2-3 marks
- The report addresses most of the
questions on the financial reporting
with accuracy but lacks some clarity
- The responses at times lack relevance
and/or some of them are erroneous 4-5 marks
- The report addresses most of the
questions on financial reporting
with accuracy
- The responses are mostly relevant
and pertinent with questions 6 marks
- The report addresses clearly and
accurately all the questions on
financial reporting
- The responses are highly relevant
and well constructed. 2 marks
- Improvement is needed in the report
presentation
- The report is not easy to understand
- All responses are included but some
are not well delivered 3 marks
- The report is mostly professionally
presented
- The report is fairly easy to
understand
-All responses are included and
most of them are well constructed
4-5 marks
- There is a general use of technical
language and professional
terminology.
- The responses are fairly clear to
read 4 marks
- The report is professionally
presented in all its duration
- The report is highly relevant and
easy to understand
- All responses are included and are
very well constructed
6 marks
- There is an excellent and
proficient use of technical language
and professional terminology.
- The responses are very clear and
straightforward to read 3 marks 4 marks 2-3 marks
- While some attempt has been made
to use technical language and
professional terminology, there is a
general inaccuracy in the use of it.
- The responses are somehow clear to
read 0-1 mark
2 marks
Deduct up to 2 marks for incomplete or incorrect acknowledgment of sources in the Reference List
Deduct 2 marks for the submission of incomplete Minutes, 4 marks for non-submission of Minutes TOTAL MARK (out of 20) ACCT1048 Financial Accountability And Reporting Group Assignment, 2017 Mark ACCT1048 Financial Accountability And Reporting Group Assignment, 2017

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