Australian Accounting Standards
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BAO2203
Corporate Accounting
They have asked you and your colleagues to sample a selection of listed companies, and establish the extent to which companies comply in detail with the spirit of the law. Management are curious about the compliance in regard to several particular areas of consolidations.
Required:
Your assignment is divided into two (2) parts. Part 1 is the analysis of a sample of annual reports and Part II.
You are to form into groups of two for the submission of this assignment
Part 1 (approx. 500words)
You are required to select three companies from the Australian Stock Exchange (ASX).
You are then to obtain copies of those companies’ latest annual reports and investigate the consolidation practices of these companies. That is:
- Review the most recent financial statements of three Australian firms from different industries. Analyse, compare and discuss the firms’ disclosure of consolidation practices to explore both firms’ compliance with relevant Australian Accounting Standard AASB10 and support your arguments using relevant research literature.
Part II (approx 1500 words)
‘Financial capital maintenance ensures that profit and distributions of profit for an entity, including a group, do not derive from the mere act of acquiring another entity’s assets or acquiring an equitable interest in that other entity’s net assets (Knapp 2013, p.192.)’
(Source: Knapp, J. 2013. A reconsideration of consolidation accounting requirements and pre-acquisition dividends. Australian Accounting Review. Vol. 23 No. 3, pp. 190-207.
Discuss.
(hint: After reading the article by Knapp, identify the key terms, define them, what do you believe to is the main problem, and compare the cost and ‘new’ consolidation approach.)
http://onlinelibrary.wiley.com/doi/10.1111/j.1835-2561.2012.00190.x/pdf
Total Approximate word Length: 2000 words for two member groups.
Marking: This assignment is worth 20% and will be scored out of 20 marks. The assignment is a TEAM assignment and therefore scores will be applied to all members of a team without distinction.
Due Date: Week 9
You have to submit TWO copies of your report:
- Only single copy should be submitted to Turnitin via a link on VU Collaborate. The report should be submitted ONLY by one team member or team leader.
- The second (hard copy) of the report should be submitted to your lecturer / tutor / assignment box.
Penalty for late assignments: 1 mark per working day (weekday) and no mark will be awarded after five days.
Teamwork:
- Team members must belong to the same tutorial group.
- It is YOUR responsibility to form teams, thus swapping contact details and arranging regular progress meetings is essential. Remember, once a team is formed, it is up to you and your fellow team members to maintain team discipline. No changes to group members are allowed during the last three weeks before the submission deadline. All group members are equally responsible for the submission of the assignment.
- Any person signing up in a group needs to obtain approval from other group members PRIOR to signing up. In case there are complaints that a student signed up without prior approval from other group members, he/she will be removed from the group immediately. All complaints need to be submitted via email (using VU student email)
- Groups must assign a leader and keep all records of meetings and tasks assigned to group members. Students must meet at least three (3) times face-to-face but more often by electronic means. Meeting records must be attached at the end of your report. Marks will be allocated for your meeting logs. A suggested meeting log is attached.
- Where a group member is not cooperating or contributing to the group and the team has made all efforts to resolve the issue, the team must inform the tutor and unit coordinator/s immediately via email. Where a group does not report this matter immediately, it will not be entertained later on, especially before the due date of the assignment. The defaulting member will be given a warning and should the member continue to default, the group will continue without the defaulting member and the defaulting member will receive zero for the task.
Referencing and style
- Assignment must be typed using Word document and double-spaced with a normal margin (i.e. 3cm)
- The required referencing style is Harvard (Please visit VU library for examples of Harvard Referencing Style at http://guides.library.vu.edu.au/Harvard).
Some useful journals include:
Academy of Accounting and Financial Studies journal
Academy of Accounting and Financial Studies proceedings
Accounting and business research
Accounting and finance (Parkville)
Accounting and the public interest
Accounting, auditing, & accountability
Accounting, auditing & accountability journal
Accounting forum
Accounting horizons
Accounting in Europe
Accounting, organizations and society
Accounting perspectives
Accounting research journal
Accounting review
Accounting standard
Accounting today
Advances in accounting
Advances in Accounting, Finance & Economics
Advances in international accounting
African journal of accounting, economics, finance and banking research
Asian Academy of Management Journal of Accounting & Finance
Asian journal of finance & accounting
Asian review of accounting
Asia-Pacific Management Accounting Journal
Australian accounting standard
Bank accounting & finance
British accounting review
Canadian accounting perspectives
Contemporary accounting research
Critical perspectives on accounting
European accounting review
International accounting bulletin
International journal of accounting
International journal of accounting, auditing and performance evaluation
International journal of accounting information systems
International journal of digital accounting research
International journal of intelligent systems in accounting, finance & management
Irish accounting review
Issues in accounting education
Issues in Social & Environmental Accounting
Journal of accounting & economics
Journal of accounting and finance research
Journal of accounting & organizational change
Journal of accounting and public policy
Journal of accounting, auditing & finance
Journal of accounting research
Journal of Accounting, Business & Management
Journal of bank cost & management accounting
Journal of business finance & accounting
Journal of contemporary accounting & economics
Journal of corporate accounting & finance
Journal of Financial Reporting & Accounting
Journal of international accounting, auditing & taxation
Journal of international accounting research
Journal of international financial management & accounting
Journal of management accounting research
Journal of modern accounting and auditing
Journal of public budgeting, accounting & financial management
Journal of theoretical accounting research
Malaysian Accounting Review
Pacific accounting review
Public accounting report
Qualitative research in accounting and management
Quarterly journal of finance and accounting
Quarterly Journal of Finance and Accounting
Research in accounting regulation
Review of accounting & finance
Review of accounting studies
Review of quantitative finance and accounting
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Assessment Criteria and Assignment Structure
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