Reference no: EM133536767
Accounting Principles and Practices
Learning outcome 1: Critically evaluate financial performance to inform decision-making using relevant information.
Learning outcome 2: Exercise professionaljudgment to solve accounting problems from ethical, social, and regulatory perspectives.
Learning outcome 3: Effectively communicate financial and non-financial information to a range of stakeholders
Assessment Task: Accounting Project
Section 1 Assessment objectives and relevant subject intended learning outcomes.
This assessment task has two related objectives. The first objective is to evaluate student's skills development in accounting technical competency areas (TCA), and the other objective is to evaluate students' skills development in professional competency areas (PCA). Both are in line with the relevant accounting professional accreditation guidelines, La Trobe graduate capabilities and subject-intended learning outcomes.
Objective 1 TCA
O1.1. Accounting Systems and Processes
a) Explain the role and purpose of accounting, accounting processes and systems.
b) Explain the purpose of financial statements.
c) Understand the accounting principles and concepts underlying accounting and financial
reporting, including the principles of the Conceptual Framework of Accounting and Generally Accepted Accounting Principles.
O1.2. Information and Communications Technology
a) Use PowerPoint, Pivot tables and Pivot charts in Excel, and virtual recording software to analyse data graphically summarise data and explore complicated data.
b) Understand the impact of financial technology (blockchain) on business operations in Australia and internationally.
Objective 2 PCA
O2.1 Intellectual Skills
a) Evaluate data and information.
b) Apply critical thinking to solve problems, make decisions and exercise good judgment in complex organisational situations.
O2.2 Interpersonal and Communication Skills
a) Demonstrate collaboration, cooperation, and teamwork when working towards organisational goals.
b) Communicate clearly and concisely when presenting, discussing, and reporting knowledge and ideas in formal and informal situations.
c) Demonstrate awareness of cultural and language differences in all communication.
d) Apply active listening and effective interviewing techniques.
e) Apply negotiation skills to reach solutions and agreements.
O2.3 Personal Skills
a) Set high personal standards of performance and monitor through reflective activity and feedback from others.
b) Manage time and resources to achieve academic, personal and/or professional commitments.
c) Anticipate challenges and plan potential solutions.
d) Apply an open mind to new opportunities.
e) Identify the potential impact of personal and organisational bias.
f) Identify the implications of professional values, ethics and attitudes in decision-making.
Section - Assignment Requirements
Project topic: Financial reporting and analysis of supermarkets and grocery stores in Australia and the UK
Required
Your company is considering investing in supermarkets and grocery stores in Australia and the UK. To assist the management's decision-making, your team has been assigned to analyse Coles' annual reports for the last three years (2020, 2021, and 2022), Tesco (UK)'s annual reports for the previous three years (2020-2022), and compare your analysis in the context of the industry data available at IBIS World (see reference below)
Project Part 1: Written Report (1000 words excluding references, tables, and team reflections)
Your written report needs to address the following points.
a. An overview of the supermarket industry in Australia based on the IBIS World data.
The overview must cover industry performance, outlook, product and market, competitive landscape, and operating conditions.
b. Review two academic research articles and discuss how financial and non-financial information informsdecision-making.
c. Review the annual reports of Coles and Tesco, andanalyse how Coles compares with Tesco, and the relevant industry performance indicators reported in IBIS World industry data for the period between 2020-2022 in terms of
a. Financial performance (use a range of financial ratios ofthe team's choice)
b. Non-financial performance (e.g. sustainability)
c. How COVID-19 has affected the selected companies' estimates and judgements.
d. Recommendation
Project Part 2: Virtual presentation
Apart from the written report, your team are invited to send a virtual presentation recording of your report to the management team. The group presentation should be no more than 10 minutes. See the attached presentation rubric for further details.
Your presentation recording can be on Zoom (recorded to the Cloud) using the La Trobe student email account for free recording. Alternatively, your team can choose a suitable platform to record your presentation at your discretion. Please note:
a. Each group member must participate in the group presentation recording, and marks are allocated for individual and group performance.
b. Please complete the attached group presentation form with the video link to be included in your written report submitted on Turnitin on the subject's LMS.