ACC201 – Financial Accounting Term 1 2019
Polytechnic Institute Australia Page 1 | 3
| Assignment title | Research assignment |
| Prescribed word limit | Part 1: 800words + Part 2: 1200 words = 2000 words (10% variation is acceptable) |
| Referencing style | Harvard Referencing System Style Guide |
| Assignment weight | 25% |
| Assignment due date | Part 1: Week 5, Friday, 26 April 2019 (10%) Part 2: Week 9, Friday, 31 May2019 (13% + 2%) |
| Submission mode | PIA assignment cover page must be attached and signed before its submitted by due day through MyPIA. |
Formation of Group:
Maximum 4 members in a group. Please organise yourselves into groups. After the formation of the
group, you must inform your lecturer by email.
Email format:
| From | : Member1@email |
| To | : mohammad@pia.edu.au |
| CC | : Member2@email, Member3@email, Member4email |
Subject : Group for ACC201 Group Assignment
Information provided in the email:
Name of Member 1, Mobile number (used for assignment communication purpose only)
Name of Member 2, Mobile number (used for assignment communication purpose only)
Name of Member 3, Mobile number (used for assignment communication purpose only)
Name of Member 4, Mobile number (used for assignment communication purpose only)
PART 1
In this part of the assignment you need to choose an ASX listed company for financial analysis. To
make the right choice you need to have a clear understanding of
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Relevant information Fair presentation Accounting estimates |
Task 1: Choose your company
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Visit http://www.asx.com.au/ Choose a company that provided fair presentation of relevant information in their annual report with accounting estimates. |
ACC201 – Financial Accounting Term 1 2019
Polytechnic Institute Australia Page 2 | 3
Required:
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Name of the company. Web link to download the 2018 Annual Report of the company. Current share price of the company. Email the above information to your lecturer (attach the downloaded PDF of the annual report) |
The following research topics are independent and not related to each other.
Research Topic 1: Relevant information for an investment company (Hint: Chapter 1)
A year ago you bought shares in an investment company. The investment company, in turn buys, holds
and sells shares of business enterprises. You want to use the financial statements of the investment
company to assess its performance over the past year.
Required:
A. What financial information about the investment company’s holdings would be most relevant
to you?
B. The investment company earns profits from appreciation of its investment securities and from
dividends received. How would the concepts of recognition in the conceptual framework
apply here?
Research Topic 2: Fair presentation (Hint: Chapter 16)
The directors of an Australian company that is required to prepare financial reports under the
Corporations Act conclude that applying the requirements of AASB 136/IAS 36 Impairment of Assets
would not provide a fair presentation because the resulting $80 000 impairment loss is temporary.
Required:
A. Advise the directors how this problem should be addressed in the financial statements in
accordance with AASB 101/IAS 1.
B. Write a summary of fair value changes in company you have selected in task 1? (please
provide the page number of the annual report)
Research Topic 3: Accounting estimates (Hint: Chapter 18)
The board of directors has resolved to change its accounting policy for capitalising gains or losses on
its cash flow hedges recognised in other comprehensive income. Previously, such gains or losses were
capitalised to hedged items but the directors now believe that taking such gains or losses to profit or
loss is a more appropriate treatment. Due to a recent computer virus, all data from the non-current
asset register, including specific depreciation details from prior periods, has been destroyed.
ACC201 – Financial Accounting Term 1 2019
Polytechnic Institute Australia Page 3 | 3
Required:
A. The board of directors has approached you for advice regarding the disclosures, if any, that
are required for this change in accounting policy.
B. Write a summary of accounting estimates in company you have selected in task 1? (please
provide the page number of the annual report)
Marking Rubrics:
| No. Marking scheme Marks | ||
| 1 | Task 1: Choose your company | 5 |
| 2 | Research Topic 1 | 10 |
| 3 | Research Topic 2 | 10 |
| 4 | Research Topic 3 | 10 |
| Total | 35 |
Note:
Please read the “Submission of Assessment Items” on page 12 in unit outline of ACC201.
Please read the “Academic Misconduct and Plagiarism” on page 14 in unit outline of
ACC201.
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