RESEARCH ESSAY – SEMESTER 1 2016
INFORMATION
Your research essay must be submitted in week 10. Penalties will apply for late submission.
The following matters should be given particular attention:
1. Writing assignments must not exceed the word counts indicated. Double space your pages, use a 12-pt Times New Roman font, use 2 cm margins on all four sides of your page.
2. Your essay must include an abstract/synopsis, introduction, essay body that clearly addresses the problem areas, a conclusion and a properly referenced bibliography. (refer to the research essay marking rubric for further guidance)
3. Evidence of extensive research beyond the prescribed text is required. Ensure these are referenced appropriately in your bibliography. Refer to the statement regarding plagiarism.
4. NO extensions will be granted unless supported by appropriate documentation prior to the due date.
5. This assignment must be handed in for successful completion of the course and will count 20 marks towards the final mark.
6. The word count for the research essay is 3000 words. Please refer to the Research Essay Marking Rubric for the specific allocation of word count for each specific section of your research essay (refer point 2 above).
7. Points (fractional marks) have also been allocated to each specific section of your research essay.
8. The research essay is to be conducted in groups of two. Students do not have the option to extend or reduce the size of the group. If the class has an odd number of students then one student must undertake the assignment on their own.
9. Groups must select a company from the Australian Securities Exchange Top 100 (ASX100) website and download the 2015 annual report. Groups cannot do the same company and preferably from different ASX sectors and should discuss their selection prior to commencing their research essay. No banks allowed.
RESEARCH ESSAY TOPIC
“Disclosure is required of a large number of specified items, subject to the frequent proviso that amounts which are not material need not be disclosed (separately). “Material” is defined as limiting the information required to those matters as to which an average prudent investor ought reasonably to be informed before purchasing the security registered.” Chambers, R. J., 1969, Accounting Finance and Management, Arthur Andersen & Co., p. 183.
The AASB / IASB continues to struggle with the concept of materiality. In relation to Chambers’ comment over 45 years ago undertake the following:
Select a company from the Australian Securities Exchange website and download the 2015 annual report.
1. With reference to the above statement describe what you understand by the concept of materiality and provide examples from your selected annual report.
2. Discuss the problems of materiality in the context of the present AASB / IASB standards and framework using your selected annual report to provide examples.
3. Evaluate the issues of materiality in your selected annual report in the context of AASB / IASB standards and framework.
4. Comment on the relationship between the materiality employed in your selected annual report and the provision of decision useful information; provide examples from your selected annual report.
TUTOR ENGAGEMENT
1. Week 1 – Tutor to advise students that the research essay is available and over the coming weeks they should think about forming groups of 2.
2. Weeks 1-3 – EMPHASISE TO STUDENTS TO BEGIN THE WORK EARLY. All students to form groups of two and advise tutor. A discussion of the ASX sectors and ASX100 to take place. Students should discuss the selection of a sector and company that interests them. Tutor to record the groups. No groups are to have the same company. Banks are not allowed as they have particular problems. Over the weeks 1-3 groups should select a company from the ASX100.
3. Week 3 – Groups are to advise the tutor of the company selected. Tutor to record the company selected by each group ensuring no group has the same company.
4. Weeks 6-8 – Tutor should stress the importance to groups of beginning the work early and following the marking rubric.
5. Tutor to discuss problems arising and the differences between sectors and companies.
6. Dedicate some time each week for discussion of the research essay.
1. https://www.wesfarmers.com.au/sustainabilityreport2008/independent/index.html
2. http://www.charteredaccountants.com.au/News-Media/Charter/Charter-articles/Reporting/2014-05-Materiality.aspx
3. http://www.accountability.org/images/content/6/8/686/aa_materiality_report_aug2013%20final.pdf
4. http://www.afr.com/personal-finance/why-wesfarmers-will-feel-more-pain-20160406-gnzt87
5. http://www.afr.com/business/retail/big-shakeout-for-wesfarmers-20140702-jgozc
6. https://www.businessnews.com.au/article/ANALYSIS-Wesfarmers-aims-to-silence-critics
7. http://www.wesresources.com.au/sustainability_report_2015/materials-issues/
8. http://2013.sustainability.wesfarmers.com.au/databank/independent-assurance-statement/
9. http://www.theaustralian.com.au/business/markets/wesfarmers-big-issues-long-term/story-e6frg92o-1111118565115
10. http://www.smh.com.au/business/retail/wesfarmers-sales-are-solid--but-so-is-its-share-price-20150429-1mw8z1.html
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