HOLMES INSTITUTEFACULTY OFHIGHER EDUCATION HI6025 Accounting Theory and Current Issues Group Assignment Assessment Details and Submission GuidelinesTrimesterT3 2020Unit CodeHI6025Unit TitleAccounting Theory and Current IssuesAssessment TypeGroup AssignmentAssessment TitleConceptual and critical evaluation of theoriesPurpose of theassessment (with ULOMapping)This is a group assignment. Students are required to conduct a research and analysis ofa theoretical financial reporting issue and present their findings in a written report.Students will have to do research on relevant literature and demonstrate understandingand critical evaluation of key disclosure issues relating to application of specificaccounting standards. Additionally, they will demonstrate understanding and criticalevaluation of the Australian financial reporting environment and its current regulatoryframework and recommend future directions to the Australian financial reportingregulators. (ULO 1, 2, 4, 7).Weight40 % of the total assessmentsTotal Marks40Word limit3,000 words ± 500 wordsDue DateGroup Formation: Please form the group by self-enrolling in Blackboard. Thereshould be maximum of 4 members in a group. Email BBHelpdesk@holmes.edu.au forany issues with self-enrolling into groups.Assignment submission: Final Submission of Group Assignment: Week 10, SundayFebruary 7th 2021 at 11:59 pm.Late submission incurs penalties of five (5) % of the assessment per calendar day unlessan extension and/or special consideration has been granted by Student Services ofyour campus prior to the assessment deadline.Submission GuidelinesAll work must be submitted on Blackboard by the due date along with a completedAssignment Cover Page.The assignment must be in MS Word format, no spacing, 12-pt Arial font and 2 cmmargins on all four sides of your page with appropriate section headings and pagenumbers.Reference sources must be cited in the text of the report and listed appropriately at theend in a reference list using Harvard referencing style. Page 2 of 6HI6025 Accounting Theory and Current IssuesAssignment SpecificationsPart AIn 2006, the Australian Government incorporated research into corporate social responsibilities to determineif there is a need to include social and environmental responsibilities within the Corporation Act throughamendment procedure. It was decided not to incorporate a particular regulation through legislation, insteadrely upon the ‘market forces’ to encourage companies to do the ‘right thing’. This viewpoint was expressedthat if companies did not look after the environment or did not act in a socially responsible manner, peoplewould not want to consume the organisations’ products. From the equity market perspective, potentialinvestors would not want to invest in the organisations, and further workers wouldn’t want to work for them,and so forth. Because companies were aware of such market forces, they would do the ‘right thing’ even inthe absence of legislation.Requirement:1) Using theories such as Public Interest Theory, Capture Theory and Economic Interest Group Theoryto critically evaluate and discuss the Government’s decision for not introducing a particularregulation.“Maximum 1500 words.”Part BIn an official announcement to the stock market, ABC Ltd noted that the corporation expects its “underlyingprofit before tax” to fall below the range previously forecasted and announced to the equity market.Please read below:“ABC Ltd on Wednesday said the subdued trading conditions had coincided with a period of “significantdisruption” for the company including introducing a new wage model for its front-end sales staff, an ongoingreview of its shop network and putting in new sales systems. ABC Ltd managing director said the overall resultswould be disappointing. Although the company’s corporate results were strong especially in the United States,United Kingdom and Asia, the sluggish regional result means ABC Ltd now expects its underlying profit beforetax for the 12 months to June 30 to fall to between $535 million and $560 million, below the $590 million to$620 million range it initially targeted. The mid-point in this new range, $547.5 million, represents a 10 percent decrease on the record $584.7 million underlying profit before tax it recorded last year.”The underlying profit metrics are different from the profit to be reported in the financial statements.Requirement:1) Utilising positive accounting theory (PAT) assumption, critically analyse the possible motivation forusing an alternative measure of profit used by ABC Ltd in the announcement.2) Discuss whether the corporations are allowed to use and disclose this alternative measure even ifit fails to comply with accounting standards? Why would the managers do this?3) As a user of the corporation’s financial information (ABC Ltd), discuss the potential reactiontoward such an announcement?“Maximum 1500 words.”Page 3 of 6HI6025 Accounting Theory and Current IssuesAssignment Structure:Assignment Cover page clearly stating your name(s) and student number(s)Group’s Assignment Task Allocation table (except for Solo group members)Table of ContentBody of the assignment with appropriate section headingsList of references4 of 6HI6025 Accounting Theory and Current IssuesMarking Rubric ExcellentVery GoodGoodSatisfactoryUnsatisfactoryContentPart AEvaluate and discussthe Government’sdecision using 3theories15%Demonstrate superiorknowledge of the theory andkey concepts. Excellentinterpretation with extensiveelaboration of relevant subtopics, appropriatelyweighted and within theprescribed word count.Demonstrated in-depthunderstanding andapplication of key conceptsand terminology relating tothe accountingfundamentals.A detailed outline ofknowledge including thesupporting theoreticalargument. Providing athorough understanding ofthe concepts within thetopic. Professionalterminology effectivelyincorporated.Shows adequateknowledge of theconcepts, key pointsand displays a soundunderstanding oftheories and results.Relevant professionalterminology effectivelyincorporated.Shows some basicunderstanding of the topic.Has managed to cover some ofthe main points of the case.Displays sufficientunderstanding of concepts.Professional terminologyadequately incorporated.Inadequate or littleunderstanding of the theory.Lacks the necessary detail andexpression and displays anunderdevelopedunderstanding of theconcepts. Absence of keyprofessional terminology.ContentPart B (1)Using the Theorycritically analyse thepossible motivationfor using analternative measure5%Demonstrate superiorknowledge of the theory andkey concepts. Excellentinterpretation with extensiveelaboration of relevant subtopics, appropriatelyweighted and within theprescribed word count.Demonstrated in-depthunderstanding andapplication of key conceptsand terminology relating tothe accountingfundamentals.A detailed outline of knowledgeincluding the supportingtheoretical argument. Providinga thorough understanding ofthe concepts within the topic.Professional terminologyeffectively incorporated.Shows adequateknowledge of theconcepts, key points anddisplays a soundunderstanding of theoriesand results.Relevant professionalterminology effectivelyincorporated.Shows some basicunderstanding of the topic.Has managed to cover some ofthe main points of the case.Displays sufficientunderstanding of concepts.Professional terminologyadequately incorporated.Inadequate or littleunderstanding of the theory.Lacks the necessary detail andexpression and displays anunderdevelopedunderstanding of theconcepts. Absence of keyprofessional terminology. 5 of 6HI6025 Accounting Theory and Current Issues ContentPart B (2)If the corporationsare allowed to useand disclose thisalternativemeasure?5%Superior Interpretation ofthe questions andunderlying key pointsprovided.Outstanding and insightfultheoretical discussion withclear empirical evidenceprovided.Interpretation of thequestions and underlying keypoints were clearly identified.Demonstrated a strongtheoretical discussion andempirical evidences.Interpretation ofquestions andunderlying key pointswere partially identified.An effective theoreticalresponse with someempirical evidenceprovided.Interpretation of thequestions and underlying keypoints identified.Adequate coherencesupported with a basictheoretical approach.Appropriate empiricalevidence provided.Inadequate interpretationof the underlying keypoints.Inadequate interpretationdemonstrating inconsistentand irrelevant thoughts.Inappropriate coherence ofthe key points.ContentPart B (3)Discuss thepotentialreaction towardsuch anannouncement?5%Superior and effectiverecommendations, solutions,and/or plans of action wereprovided.Strong use of data or facts tosupport the analysis andconclusions.Demonstrates effectiverecommendations and/orplans of action were partiallyprovided.Effective use of data or factsto support the analysis andconclusions.Soundrecommendationsand/or plans of action.Sound use of data orfacts to support theanalysis andconclusions.Some recommendationsand/or plans of actionidentified.Some data or facts referredwhen necessary to supportthe analysis and conclusions.Inadequaterecommendations and/orplans of action notprovided.Specific data or factsnecessary to support theconclusions are inadequate.Presentation andReferencing10%Key points were poorlyidentified and not supportedwith references.Grammar, spelling,punctuation, professionalwriting, and syntax needssignificant improvement.Provides an inadequatecritical analysis.Failure to meet referencingrequirements andinappropriate resourcesused.Key points were identifiedand supported with sufficientreferences. a well thoughtout rationale based onapplying specific concepts inthe report.Grammar, spelling,punctuation, professionalwriting, and syntax needssome improvement.Referencing requirementsare met and mostlyappropriate resources used.Adequate key pointswere identified andsupported with soundreferencesAppropriate grammar,spelling, punctuation,professional writing, andsyntax.Referencingrequirements meetexpectations andappropriate resourcesused.Appropriate researchdemonstrated, andsound resources used.Effective key points wereidentified and supportedwith excellent referencesExcellent grammar, spelling,punctuation, professionalwriting, and syntax.Referencing requirementsmeet expectations withexcellent resources usedAdvanced researchtechniques demonstrated.Superior key points wereclearly identified andsupported with outstandingreferences.Excellent grammar, spelling,punctuation, professionalwriting, and syntaxReferencing requirementsexceeds expectations andadvanced researchtechniques demonstrated. 6 of 6HI6025 Accounting Theory and Current IssuesAcademic IntegrityHolmes Institute is committed to ensuring and upholding Academic Integrity, as Academic Integrity isintegral to maintaining academic quality and the reputation of Holmes’ graduates. Accordingly, allassessment tasks need to comply with academic integrity guidelines. Table 1 identifies the six categoriesof Academic Integrity breaches. If you have any questions about Academic Integrity issues related to yourassessment tasks, please consult your lecturer or tutor for relevant referencing guidelines and supportresources. 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 fromdeduction of marks, failure of the assessment task or unit involved, suspension of course enrolment, orcancellation of course enrolment.Table 1: Six categories of Academic Integrity breaches PlagiarismReproducing the work of someone else without attribution.When a student submits their own work on multipleoccasions this is known as self-plagiarism.CollusionWorking with one or more other individuals to complete anassignment, in a way that is not authorised.CopyingReproducing and submitting the work of another student,with or without their knowledge. If a student fails to takereasonable precautions to prevent their own original workfrom being copied, this may also be considered an offence.ImpersonationFalsely presenting oneself, or engaging someone else topresent as oneself, in an in-person examination.Contract cheatingContracting a third party to complete an assessment task,generally in exchange for money or other manner ofpayment.Data fabrication andfalsificationManipulating or inventing data with the intent of supportingfalse conclusions, including manipulating images.
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