HOLMES INSTITUTE
FACULTY OF
HIGHER EDUCATION
Assessment Details and Submission Guidelines
Trimester T3 2020
Unit Code HI5020
Unit Title Corporate Accounting
Assessment Type Individual Assignment
Assessment Title Linking skills, knowledge and experiences that employers seek from Corporate Accountants with the learnings objectives, outcomes and contents of the subject and demonstrating understanding of equity, liability, and comprehensive income items reported by companies/corporate groups.
Purpose of the assessment (with ULO
Mapping) The first part of this assignment aims at developing a clear understanding of students on what skills, knowledge and experiences employers seek from Corporate Accountants and link the learnings objectives, outcomes and contents of the subject with the skills, knowledge and experiences sought by employers.
The second part of the assignment aims at developing a clear understanding of students on different equity, liability, and comprehensive income items reported by companies/ corporate groups.
(ULO 1, 2, 3, 4, 5).
Weight 35 % of the total assessments (35 marks)
Total Marks 25 % in written report + 10 % in video presentations
Word limit 3000 words ±500 words
Due Date Assignment submission: Final Submission of individual Assignment: February 3, 2021, Wednesday, Week 10, 11:59 pm
Late submission incurs penalties of five (5) % of the assessment value per calendar day unless an extension and/or special consideration has been granted by the lecturer prior to the assessment deadline.
Submission Guidelines • All work must be submitted on Blackboard by the due date along with a completed Assignment Cover Page.
• The assignment must be in MS Word format, no spacing, 12-pt Arial font and 2 cm margins on all four sides of your page with appropriate section headings and page numbers.
• Reference sources must be cited in the text of the report, and listed appropriately at the end in a reference list using Harvard referencing style.
HI5020 Corporate Accounting Individual Assignment T3 2020
Assignment Specifications Purpose:
The first part of this assignment aims at developing a clear understanding of students on what skills, knowledge and experiences employers seek from Corporate Accountants and link the learnings objectives, outcomes and contents of the subject with the skills, knowledge and experiences sought by employers.
The second part of the assignment aims at developing a clear understanding of students on different equity, liability, and comprehensive income items reported by companies/ corporate groups.
Assessment task:
Part A
Collect AT LEAST 20 job advertisements on the position of ‘corporate accountant’, ‘corporate and management accountant’ ‘senior accountant’, ‘tax accountant’, ‘corporate financial accountant’ ‘corporate financial and management accountant’, ‘accountant corporate finance’, ‘senior financial accountant’ ‘senior accountant: tax and corporate reporting’ or any other similar positions published by Australian employers in electronic or print media or in job search portals (such as seek, Jora, Indeed etc.) from the first week of the Trimester to the week 8 of the Trimester.
Based on your collected advertisements, do the following tasks:
1. List all the personal attributes required from a corporate accountant that have been mentioned in the job advertisements that you have collected with your detailed understanding of each of the attributes.
2. List all the key roles, tasks, responsibilities of a corporate accountant that have been listed in the advertisements that you have collected and analysed.
3. Based on the key roles, tasks, responsibilities identified from your collected job advertisements, how those key roles, tasks or responsibilities are related to the topics that you have learned in your MPA unit HI5020 Corporate Accounting.
4. What additional topics, attributes or learnings outcomes are missing from your MPA unit HI5020 Corporate Accounting that are listed on the job advertisement.
5. Critically examine the skills, experience and attributes needed to become a corporate accountant. Also, critically evaluate how the topics that you have learned in your MPA unit HI5020 Corporate Accounting have helped you in gaining the skills, knowledge, experience and attributes needed to become a corporate accountant.
Part B
Select 1 (One) public limited company listed on the Australian Securities Exchange (ASX) that are in the same industry. The company must have subsidiary companies and must have prepared consolidated financial statements. Download the latest annual reports consecutively for last two years of the company that you have selected. Do not use your company’s interim financial statements or their concise financial statements. Please read the financial statements (balance sheet, income statement, statement of changes in owner’s equity) very carefully. Also, please read the relevant footnotes of your company’s financial statements carefully and include information from these footnotes in your answer.
You need to do the following tasks:
EQUITY & LIABILITY
6. From your company’s financial statements, list each item of equity reported and write your understanding of each item. Discuss any changes in each item of equity for your company over last two years articulating the reasons for the change.
7. From your company’s financial statements, list each item of liability reported and write your understanding of each item. Discuss any changes in each item of liability for your company over last two years articulating the reasons for the change.
OTHER COMPREHENSIVE INCOME STATEMENT
8. What items have been reported in the other comprehensive income statement for each year?
9. Why have these items not been reported in Income Statement/Profit and Loss Statements?
10. Provide a comparative analysis of the items shown in the other comprehensive income statement section for the two years. If these items were included in the income statement / profit and loss statements of each year, how would the profit attributable to shareholders of the company be affected?
11. Should other comprehensive income be included in evaluating the performance of managers of the company?
Assignment Structure should be as the following:
Abstract - One paragraph
List of Content
Introduction
Body of the assignment with detailed answer on each of the required tasks
Summary/Conclusion
List of references
…..
Marking criteria
Marking criteria Weighting
Abstract 1%
List of content & overall presentation of the assignment 1%
Introduction 1%
Part A
List all the personal attributes required from a corporate accountant that have been mentioned in the job advertisements that you have collected with your detailed understanding of each of the attributes. 1%
List all the key roles, tasks, responsibilities of a corporate accountant that have been listed in the advertisements that you have collected and analysed. 2%
Based on the key roles, tasks, responsibilities identified from your collected job advertisements, how those key roles, tasks or responsibilities are related to the topics that you have learned in your MPA unit HI5020 Corporate Accounting. 2%
What additional topics, attributes or learnings outcomes are missing from your MPA unit HI5020 Corporate Accounting that are listed on the job advertisement. 2%
Critically examine the skills, experience and attributes needed to become a corporate accountant. Also, critically evaluate how the topics that you have learned in your MPA unit HI5020 Corporate Accounting have helped you in gaining the skills, experience and attributes needed to become a corporate accountant. 2%
Part B
From your company’s financial statements, list each item of equity reported and write your understanding of each item. Discuss any changes in each item of equity for your company over last two years articulating the reasons for the change. 2%
From your company’s financial statements, list each item of liability reported and write your understanding of each item. Discuss any changes in each item of liability for your company over last two years articulating the reasons for the change. 2%
What items have been reported in the other comprehensive income statement for each year? 2%
Why have these items not been reported in Income Statement/Profit and Loss Statements? 2%
Provide a comparative analysis of the items shown in the other comprehensive income statement section for the two years. If these items were included in the income statement / profit and loss statements of each year, how would the profit attributable to shareholders of the company be affected? 2%
Should other comprehensive income be included in evaluating the performance of managers of the company? 2%
Conclusion 1%
TOTAL Weight in Written Assignment 25%
Video Presentation 10%
Total 35%
Instruction for video presentation:
Based on your written assignment you will have to make a summary video presentation ranging for 10 minutes. Your presentation should explain the assignment tasks and your key findings. You will have to upload the presentation in You Tube and submit the You Tube link in the black board so that the marker can watch and mark your presentation. Your assignment will be marked based on the following criteria:
Presentation Style (3 marks) Content (4 marks) Clarity of the presentation (3 marks)
Excellent 3-2.5 4-3 3-2.5
Very good 2.5-1.75 3-2.5 2.5-1.75
Good 1.75-1.5 2.5-2.00 1.75-1.5
Satisfactory 1.5-1.00 2.00-1.00 1.5-1.00
Unsatisfactory 1.00-0 1.00-0 1.00-0
Academic Integrity
Holmes Institute is committed to ensuring and upholding Academic Integrity, as Academic Integrity is integral to maintaining academic quality and the reputation of Holmes’ graduates. Accordingly, all assessment tasks need to comply with academic integrity guidelines. Table 1 identifies the six categories of Academic Integrity breaches. If you have any questions about Academic Integrity issues related to your assessment tasks, please consult your lecturer or tutor for relevant referencing guidelines and support resources. Many of these resources can also be found through the Study Sills link on Blackboard.
Academic Integrity breaches are a serious offence punishable by penalties that may range from deduction of marks, failure of the assessment task or unit involved, suspension of course enrolment, or cancellation of course enrolment.
Table 1: Six categories of Academic Integrity breaches
Plagiarism Reproducing the work of someone else without attribution. When a student submits their own work on multiple occasions this is known as self-plagiarism.
Collusion Working with one or more other individuals to complete an assignment, in a way that is not authorised.
Copying Reproducing and submitting the work of another student, with or without their knowledge. If a student fails to take reasonable precautions to prevent their own original work from being copied, this may also be considered an offence.
Impersonation Falsely presenting oneself, or engaging someone else to present as oneself, in an in-person examination.
Contract cheating Contracting a third party to complete an assessment task, generally in exchange for money or other manner of payment.
Data fabrication and falsification Manipulating or inventing data with the intent of supporting false conclusions, including manipulating images.
Source: INQAAHE, 2020
HOLMES INSTITUTE
FACULTY OF
HIGHER EDUCATION
Marking Rubric
Excellent 80-100% Very Good 70-79% Good 60-69% Satisfactory 50-59% Unsatisfactory 0-49%
Abstract /1 Apply our judgement
List of content & overall presentation of the assignment /1 Apply our judgement
Introduction /1 Apply our judgement
PART A QUESTIONS PART A QUESTIONS
List all the personal attributes required from a corporate
accountant that have been
mentioned in the
job advertisements that you have
collected with your detailed
understanding of each of the attributes. /1 A good number of personal attributes required to be a
corporate accountant
have been identified from the job
advertisements with detail explanation of each attribute. A good number of personal attributes required to be a
corporate accountant
have been identified from the job
advertisements.
Explanation of a few attributes have been provided. A good number of personal attributes required to be a
corporate accountant
have been identified from the job
advertisements. No
explanation has been
provided for any of the
attributes A small number of personal attributes required to be a
corporate accountant
have been identified from the job
advertisements. No
explanation has been
provided for any of the
attributes Only few/no personal attributes have been identified. No
explanation has been provided.
List all the key roles, tasks,
responsibilities of a corporate accountant that /2 A good number of key roles, tasks or
responsibilities of a
corporate accountant that have been A good number of key roles, tasks or
responsibilities of a
corporate accountant that have been A good number of key roles, tasks or
responsibilities of a
corporate accountant that have been A small number of key roles, tasks or
responsibilities of a
corporate accountant that have been Only few/no key roles,
tasks or responsibilities of a corporate
accountant that have been mentioned in the
HI5020 Corporate Accounting Individual Assignment T3 2020
have been listed in
the advertisements that you have collected and analysed. mentioned in the job advertisements have been identified.
Detailed explanations have been provided for
each of the identified roles, tasks or responsibilities. mentioned in the job advertisements have been identified. Explanation has been provided for a few of
the identified roles, tasks or
responsibilities. mentioned in the job advertisements have been identified. No
explanation has been provided for the
identified roles, tasks or responsibilities. mentioned in the job advertisements have been identified. No
explanation has been provided for the
identified roles, tasks or responsibilities. job advertisements
have been identified.
No explanation has been provided.
Based on the key roles, tasks,
responsibilities
identified from your collected job
advertisements, how those key
roles, tasks or
responsibilities are
related to the topics that you have
learned in your
MPA unit HI5020
Corporate
Accounting. /2 Have demonstrated an excellent understanding of the relation of the topics included in the MPA unit HI5020 Corporate Accounting with the key roles, tasks or responsibilities of a corporate Accountant identified from the job advertisements. Have demonstrated a very good
understanding of the relation of the topics included in the MPA
unit HI5020 Corporate
Accounting with the key roles, tasks or
responsibilities of a
corporate Accountant
identified from the job advertisements. Have demonstrated a
good level of
understanding of the relation of the topics included in the MPA
unit HI5020 Corporate
Accounting with the key roles, tasks or
responsibilities of a
corporate Accountant
identified from the job advertisements. Have demonstrated a very basic or just
acceptable level of
understanding of the relation of the topics included in the MPA
unit HI5020 Corporate
Accounting with the key roles, tasks or
responsibilities of a
corporate Accountant
identified from the job advertisements. Have demonstrated a
poor or no level of
understanding of the relation of the topics included in the MPA
unit HI5020 Corporate
Accounting with the key roles, tasks or
responsibilities of a
corporate Accountant
identified from the job advertisements.
What additional topics, attributes or learnings outcomes
are missing from your MPA unit
HI5020 Corporate
Accounting that are listed on the job advertisement.
What needs to be added or what /2 Excellent discussions on the limitations of MPA
Unit HI5020 Corporate
Accounting. Have identified the topics
that need to be added or omitted with
excellent informed
reasoning provided in line with the job advertisements. Very good discussions on the limitations of
MPA Unit HI5020
Corporate Accounting has been provided.
Have clearly identified the topics that need to be added or omitted.
Have shown a good reasoning. A good discussion on the limitations of MPA
Unit HI5020 Corporate
Accounting has been provided. Have clearly identified the topics
that need to be added
or omitted without providing any
reasoning. Or the reasoning is not A very basic or just acceptable discussions
on the limitations of MPA Unit HI5020
Corporate Accounting has been provided.
Have mentioned a few topics that need to be added or omitted
without providing any reasoning. Very poor or no discussion on the
limitations of MPA Unit HI5020 Corporate
Accounting has been provided. Have not
identified any topic
that need to be added
or omitted from the MPA unit HI5020
Corporate Accounting.
needs to be
omitted? informed by the job advertisement.
Critically examine the skills,
experience and
attributes needed to become a
corporate
accountant. Also, critically evaluate
how the topics that
you have learned in your MPA unit
HI5020 Corporate
Accounting have helped you in
gaining the skills, experience and
attributes needed to become a corporate accountant. /2 An excellent discussion on the skills,
experience and
attributes needed to
become a corporate accountant. The
discussion is informed by the job
advertisements analysed. Have
provided excellent
discussion linking the skills, experience and
attributes learned in
HI5020 Corporate Accounting A very good discussion on the skills,
experience and
attributes needed to
become a corporate accountant. The
discussion is informed by the job
advertisements analysed. Have
provided good
discussion linking the skills, experience and
attributes learned in HI5020 Corporate Accounting. A good discussion on the skills, experience
and attributes needed
to become a corporate accountant. The
discussion is informed by the job
advertisements
analysed. Have
attempted to link the skills, experience and
attributes learned in HI5020 Corporate Accounting. A very basic or just acceptable discussion on the skills,
experience and
attributes needed to
become a corporate accountant. The
discussion is not
informed by the job advertisements
analysed. A very basic attempt to link the
skills, experience and
attributes learned in HI5020 Corporate Accounting. Very poor or no discussion has been
provided on the skills, experience and
attributes needed to
become a corporate accountant. The discussion is not
informed by the job advertisements
analysed. No attempt to link the skills, experience and
attributes learned in HI5020 Corporate Accounting.
PART B QUESTIONS
From your company’s financial statements, list each item of equity reported and write your understanding of each item.
Discuss any changes in each item of equity for your company over last two years /2 Each items of equities have been clearly identified.
Demonstrate a clear understanding of each item of equity and the reason for the change Each items of equities have been clearly identified.
Demonstrate a good understanding of each item of equity and the reason for the change Each items of equities have been clearly identified.
Demonstrate a good understanding of each item of equity. Does not demonstrate an
understanding for the reason for the change Each items of equities have been clearly identified.
Demonstrate a poor understanding of each item of equity. Does not demonstrate an
understanding for the reason for the change Each items of equities have not been clearly identified.
Demonstrate a very poor understanding of
each item of. Des not demonstrate an
understanding for the reason for the change
articulating the reasons for the change.
From your company’s financial statements, list each item of liability reported and write your understanding of each item.
Discuss any changes in each item of liability for your company over last two years articulating the reasons for the change. /2 Each item of liability has been clearly identified.
Demonstrate a clear understanding of each
item of liability and the reason for the change Each item of liability has been clearly identified.
Demonstrate a good understanding of each
item of liability and the reason for the change Each item of liability has been clearly identified.
Demonstrate a good understanding of each item of liability. Does not demonstrate an
understanding for the reason for the change Each item of liability has been clearly identified.
Demonstrate a poor understanding of each item of liability. Does not demonstrate an
understanding for the reason for the change Each item of liability has not been clearly identified.
Demonstrate a very poor understanding of
each item of. Des not demonstrate an
understanding for the reason for the change
What items have been reported in the other
comprehensive income statement for each year? /2 All items of the other comprehensive income
statement have been clearly identified All items of the other comprehensive income statement have been identified with minor errors Items of the other comprehensive income statement have been identified with major errors An attempt was made to identify Items of the other comprehensive income statement Items of
comprehensive income statement have not been identified
Why have these items not been reported in Income Statement/Profit
and Loss
Statements? /2 An excellent reasoning has been provided as to why other
comprehensive income items are not shown in the income statement with reference to the requirement of the specific Accounting standards. An excellent reasoning has been provided as to why other
comprehensive income items are not shown in the income statement.
Reference to the requirement of the specific Accounting
standards has been made with some errors. An excellent reasoning has been provided as to why other
comprehensive income items are not shown in the income statement.
No reference to the requirement of the specific Accounting
standards has been made. A good reasoning has been provided as to why other
comprehensive income items are not shown in the income statement.
No reference to the requirement of the specific Accounting
standards has been made. A poor/incorrect reasoning has been provided as to why
other comprehensive income items are not shown in the income statement. Or has
mentioned that the
other comprehensive income items can be shown in the income
Page
statement. No
reference to the
requirement of the specific Accounting
standards has been made.
Provide a
comparative analysis of the items shown in the other comprehensive income statement section for the two years. If these items were included in the income statement / profit and loss statements of each year, how would the profit attributable to shareholders of the company be affected? /2 An excellent comparative discussion has been provided on the two years. A very good comparative discussion has been provided on the two years. An attempt has been made to provide comparative
discussions but could not do it quite well Comparative discussions have not been provided, only a general discussion has been provided
No acceptable discussion has been provided.
Should other
comprehensive income be included in evaluating the performance of managers of the company? /2 An excellent argument has been provided on why the other
comprehensive income
should not be included in evaluating the managers’ performance. A very good argument has been provided on why the other
comprehensive income
should not be included in evaluating the managers’ performance. A good attempt has been made to provide
an argument on why the other
comprehensive income
should not be included in evaluating the managers’ performance. An attempt has been made to provide an argument on why the other comprehensive income should not be included in evaluating the managers’ performance but could not clearly make the point No acceptable discussion has been provided.
Conclusions /1 Apply our judgement
Page
Total in Written Assignment /25
Video presentation /10
Total /35