TRIMESTER 1, 2018
ACC2100 FINANCIAL ACCOUNTING
|Due date:||Friday18th May2018at Midnight-Week 10|
|Length:||2000 words (Excluding references)|
|Learning outcomes assessed:||1,3,5 & 7|
|Graduate attributes demonstrated:||Discipline-Specific Knowledge
Workplace skills and qualities
Critical thinking and problem-solving skills
Students are required to respond to the following questions:
Select a company from the Australian Securities Exchange Top 100 (ASX100) website and download the 2016 annual report. Students cannot do the same company and preferably from different ASX sectors and should discuss their selection prior to commencing their assignment. No banks allowed.
Use the annual report to answer the following questions. In each case, explain how you reached your answer.
- Describe the composition and classification of your company’s non-current liabilities on the balance sheet.
- How much did your company owe on its interest-bearing, non-current borrowings at the end of the financial year? How much did your company owe for the current portion of any borrowing?
- How much of the non-current loans was secured (by a mortgage or other charge over assets) and how much was unsecured? To whom were the secured loans owed?
- How much was your company’s total interest expenses for the year?
- What class(es) of share has your company issued? How many shares of each class were on issue at the end of the financial year? Were any of the shares partly paid and, if so, how much is still owning on these shares?
- What is the total amount of shareholders’ equity at the end of financial year? Give a detailed breakdown of the shareholders’ equity.
- Which shareholders’ equity account increased the most during the financial year? What caused the increase?
- How much did your company i) announce and ii) pay as dividends to its shareholders during the financial year?
- Which source of equity would be considered to be “internally” generated? Describe the advantages of “internally” generated equity.
On 1 January 2017, Farmer’ Navel (FN) issues $600 000 of 8.375%, five-year debentures when the market interest rate was 10%. FN will pay interest annually at each calendar year-end. The issue price of the debenture was $563 040.
Create an Excel worksheet to calculate interest and debenture discount amortisation using the effective interest method. (Students are encouraged to copy and paste the Excel worksheet in their word document for submission)
Using relevant examples, discuss the advantages and disadvantages of companies in Australia.
- Writing assignments must not exceed the word counts indicated. Double space your pages, use a 12-pt Arial font, use 2 cm margins on all four sides of your page.
- Your assignment must respond to all the three Parts (A, B and C).
- Evidence of extensive research beyond the prescribed text is required.Students may use the prescribed text to guide your research, but it should not be used as a primary reference source. Students are expected to conduct research using at least 1 peer-reviewed journal article onadvantages and disadvantages of companies.
- Penalties may apply for late submission.Extensions will be granted only if they are supported by appropriate documentation prior to the due date. See OIHE SPECIAL CONSIDERATION POLICY.
- This assignment must be handed in via Turnitin (link provided via Moodle) for successful completion of the course and will count 25 marks towards the final mark.
- Ensure that references are appropriately acknowledged in your bibliography. Refer to OIHE ACADEMIC INTEGRITY POLICY regarding plagiarism.
- The Harvard Referencing System (author-date) should be used. [Harvard (Author-date) is based on: Commonwealth of Australia 2002, Style manual for authors, editors and printers, 6th edn, rev. Snooks& Co., John Wiley & Sons, Brisbane.]
- “Harvard System of Referencing Guide”. Anglia Ruskin University. 21 May 2012. Accessed 25 July 2013.
- “Rec Cite” , “Harvard Style”. University of Melbourne. Accessed 25 July 2013.
- Chernin, Ei (1988). “The ‘Harvard system’: a mystery dispelled”, British Medical Journal. October 22, 1988, pp. 1062–1063.
You will be assessed according to the following marking scheme:
|Assessment Task Criteria||Weight||HD 80-100%||D 70-79%||C 60-69%||P 50-59%||F 0-49%|
|Knowledge & understanding||30%||· In depth, expert knowledge.
· Superior proficiency in application of knowledge to problem.
|· Expert knowledge
· Proficient application of knowledge and understanding.
|· Competent level of knowledge
· Accurate application of knowledge and understanding.
|· Superficial knowledge.
· Some inaccuracies in knowledge and understanding.
|· Lack of knowledge
· Significant inaccuracies in knowledge and understanding.
|Logic of argument(s)||25%||· Central argument(s) expertly developed
· Topic covered in depth in a scholarly manner.
|· Central argument(s) clearly developed and supported by evidence
· Topic covered in depth and is concise and fluent.
|· Central argument(s)developed and supported by evidence
· Topic covered in depth but with some gaps,
|· Central argument(s) has been developed but not fully supported by evidence
· Progression of argument and ideas not strong.
|· Lack of central argument(s) and evidence base
· Argument incoherent and difficult to follow.
|Analysis||30%||· Expert scholarly demonstration of critical analysis
· Conclusion draws argument in influential and scholarly manner.
|· Considerable demonstration of critical analysis
· Comprehensive and competently developed conclusion
|· Good demonstration of critical analysis
· Conclusion is logical outcome of argument(s).
|· Critical analysis partially evident but not fully developed
· Conclusion is evident but not strong.
|· Critical analysis lacking or absent.
· Conclusions poor or absent.
|Research / referencing||15%||· Expert scholarly use of wide range of relevant sources
· Expert paraphrasing and referencing.
|· Scholarly use of wide range of relevant sources
· Good application of paraphrasing and referencing.
|· Wide use of mostly relevant reference sources
· Reasonable application of referencing.
|· Limited use of relevant references sources
· Some inaccuracies in references and in-text citations.
|· Limited research or poorly researched
· Considerable inaccuracies in references and in-text citations.