ACCT3102 Individual Case Study Assignment
Instructions
The case is to be undertaken individually and students should independently prepare their assignment.
The financial reporting case study is a comprehensive case study which examines the specific application of case scenarios involving principally Topic 5 (Revenue recognition) and Topic 6 (The choice of accounting methods and case study). The case will also be used to examine student report writing skills, general accounting knowledge, and ability to critically evaluate complex case scenarios.
Consultation in relation to the case study
To ensure consistency of information, ALL questions relating to the case study must be submitted on the Blackboard Discussion Board Case Study Thread. Questions will be answered promptly when using this platform. We will not be answering content related questions in relation to this assessment item in consult or via email. The only exception to this will be during the Case Study Lecture.
Criteria & Marking:
A full marking criteria sheet is attached at the end of this assignment. Review the rubric before you commence work to ensure you understand the requirements of the assessment and how it will be assessed.
Weighting: 20% of final grade (50 marks).
Due Date: By 4:00pm, Friday 4 Oct 2019.
Items (for which no extension has been granted) submitted after the due date and time, incur a late submission penalty. The penalty is at the rate of 5% (0.4 of a grade) of the total available marks for that particular piece of assessment, for each calendar day or part thereof that the item is overdue.
Format: The assignment is to be prepared as a pdf document using Times New Roman 12 point type with single line spacing. Please include your full name and student number as part of the file name e.g. ‘12345_Joyce Yu’. A ‘Formal Report’ structure with an Executive Summary and Table of Contents is NOT required given the brevity of the required information.
Length: A maximum of 3 pages (excludes the reference list, on A4 paper with 2.54 cm on each margin). Any submitted text exceeding this limit will NOT be assessed.
Referencing style: Harvard referencing is to be adopted for in-text reference and for the reference list. Important notes relating to referencing:
• For the in-text referencing from the accounting standards, you must cite the specific provisions including paragraph from the relevant AASB. One of the following two examples should be adopted: AASB 102:11 or AASB 102 para. 11. However, do not reproduce significant parts of the regulation. The focus should be on interpretation and application of the standard.
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Plagiarism: All cases will be reviewed for plagiarism and independent content. The University has adopted the following definition of plagiarism:
Plagiarism is the act of misrepresenting as one's own original work the ideas, interpretations, words or creative works of another. These include published and unpublished documents, designs, music, sounds, images, photographs, computer codes and ideas gained through working in a group. These ideas, interpretations, words or works may be found in print and/or electronic media.
Students are encouraged to read the UQ Student Integrity and Misconduct policy (http://ppl.app.uq.edu.au/content/3.60.04-student-integrity-and-misconduct) which makes a comprehensive statement about the University's approach to plagiarism, including the approved use of plagiarism detection software, the consequences of plagiarism and the principles associated with preventing plagiarism.
Check the similarity index of your case report through turnitin. There could be zero mark for the cases such as cooperation between students; copy from case reports of students enrolled in previous semesters.
Case Study Assignment Questions
QUESTIONS
(1) Describe how has HBP’s business model changed from HMM11 to HMM12.
(5 marks) (2) How does this business model change affect revenue recognition? Explain.
(5 marks) (3) Consider the example on p.4 of the case, the last paragraph under the Section “Revenue Recognition for HMM”. How would you account for the revenue from a contract for HMM11 products? How would you account for the revenue from a contract for HMM12 products?
(10 marks) (4) What is deferred revenue? Why does HBP recognize deferred revenue?
(10 marks) (5) Does the accounting change in revenue recognition for HMM12 matter to managers of HBP? Why?
(10 marks) Students should try to access at least one to two articles (either commentary from professional accountants, or academic research articles) to support your answers to Question 5. (Hint: Concentrate on the general results of the articles. You do not have to completely understand the statistical/econometric models).
COMMUNICATIONS
Grammar, spelling, and paragraph structures. Please refer to the following marking rubric for
more detailed criteria. (10 marks)
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Case Study Marking Criteria and Rubric
Task Mark Outstanding (5) Very Good (4) Meets Expectations (3) Below Expectations (2) Well Below
Expectations (1) Not attempted (0)
Q1 Identification
Describe how has HMM’s business model changed from HMM11 to HMM12. 5 Comprehensive and accurate description. Moderate and accurate description. Minor errors in description. Major errors evident throughout. Fails to identify key concepts. Little or no evidence of understanding. Not attempted
Q2 Analysis
How does this business model change affect revenue recognition? Explain 5 Evidence of full understanding of the relevant accounting standards and application of the case details, demonstrated by correct application of all of the relevant sections of the accounting standards. Evidence of full understanding of the relevant accounting standards and application of the case details, demonstrated by the correct application of most of the relevant sections of the accounting standards. Evidence of sound understanding of the relevant accounting standards and application of the case details, demonstrated by the correct application of some of the relevant sections of the accounting standards. Limited evidence of understanding of the relevant accounting standards and application of the case details, demonstrated by the correct application of few of the relevant sections of the accounting standards. Inappropriate and/or insufficient understanding of the relevant accounting standards and application to the case details. Major errors evident in application. Not attempted
Q3 Analysis
( a ) How would you account for the revenue from a contract for HMM11 products? 5 Evidence of full understanding of the relevant accounting theory and application
of the case details, demonstrated by correct application of theory with appropriate supporting details correct. Evidence of full understanding of the relevant accounting standards and application of the case details, demonstrated by the correct application of most of the relevant theory with appropriate supporting details Evidence of sound understanding of the relevant accounting standards and application of the case details, demonstrated by the correct application of some of the relevant sections of the accounting theory with supporting Limited evidence of understanding of the relevant accounting standards and application of the case details, demonstrated by the correct application of few of the relevant sections of the accounting theory. Inappropriate and/or insufficient understanding of the relevant accounting theory and application to the case details. Major errors evident in application. Not attempted
( b ) How would you account for the revenue from a contract for HMM12 products? 5 Evidence of full understanding of the relevant accounting theory and application
of the case details, demonstrated by correct application of theory with appropriate supporting details correct. Evidencet of full understanding of the relevant accounting standards and application of the case details, demonstrated by the correct application of most of the relevant theory with appropriate supporting details correct. Evidenceli ti of soundtl t understanding of the relevant accounting standards and application of the case details, demonstrated by the correct application of some of the relevant sections of the accounting theory with supporting application mostly correct. Limited evidence of understanding of the relevant accounting standards and application of the case details, demonstrated by the correct application of few of the relevant sections of the accounting theory. Inappropriate and/or insufficient understanding of the relevant accounting theory and application to the case details. Major errors evident in application. Not attempted
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Q4 Analysis
( a ) What is deferred revenue? 5 Evidence of full understanding of the relevant accounting theory and excellent application of the case details. Evidence of full understanding of the relevant accounting theory and sound application of the case details. Evidence of sound understanding of the relevant accounting theory and sound application of the case details. Limited evidence of understanding of the relevant accounting standards and application of the case details. Inappropriate understanding of the relevant accounting theory and application to the case details. Not attempted
Q4 Analysis
( b )Why does HBP recognize deferred revenue?
5 Presents a thorough and accurate analysis. Presents a moderate and accurate analysis Presents some analysis. Presents a superficial analysis Presents no analysis Not attempted
Q5 Discussion
Does the accounting change in revenue recognition for HMM12 matter to managers of HBP? Why? 5
Consistently demonstrates
application of critical analysis well integrated into the case details. Clear application of theory through critical analysis of the case details. Demonstrates application of theory through critical analysis of the case details. Some evidence of critical thought/critical analysis and rationale for work Lacks critical thought and analysis. Not attempted
Referencing 5 In-text referencing and the reference list are complete and accurate. In-text referencing and the reference list are mostly complete and accurate with one or two minor errors evident in either in-text referencing or reference list. In-text referencing and the reference list are usually complete with several minor errors evident in either in-text referencing or reference list. Some attempt at referencing but details are either missing or contain more frequent errors. Referencing is absent and/or unsystematic and contains more frequent errors. Not attempted
Clarity of expression Writing is free of spelling, punctuation and grammatical errors. 5 Fluent writing style.
Grammar, spelling and punctuation are accurate. Language is fluent. Grammar and spelling is mostly accurate, with the occasional minor error. Language is mainly fluent. Some minor and occasional major error but meaning is still clear. Meaning is apparent, but language not always fluent. Grammar and/or spelling errors sometimes impede the reader. Meaning unclear and/or contains major grammar and/or spelling errors, which impact Not attempted
Structure
Written work is logically sequenced with sound paragraph structure, clear and easy to read 5 Paper is logically sequenced with sound paragraph structure. Full compliance with page limit and formatting Paper is logically sequenced. Compliance with page limit and formatting instructions. Paragraphs follow fairly well. May have some non- compliance with page limit and/or formatting instructions. Paragraphs need to be related more clearly. There is some noncompliance with page limit and formatting Paragraphs are not logically sequenced. Compliance with page limits and formatting Not attempted
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