Reference no: EM132312350
Project
Assessment Type: group assignment - report and presentation. All members of the group will be assessed equally on the group report. Individual marks will apply to the oral presentation.
Purpose: To allow students to demonstrate their ability to research, critically analyse trends and issues in accounting and solve standard accounting problems as would arise in the modern accounting environment. The assessment also allows students to further develop their team working and professional communication skills. This assessment relates to learning outcomes c, d and e.
Topic: Accounting Issues analysis
Background: In accounting, we learn not only how to record and report transactions, but also the purpose for the information created and the many uses of accounting information in everyday living and business. Accounting provides users with financial information to guide them in making decisions such as planning a business. An understanding of accounting and its various roles in decision making will equip you with some important tools and techniques for understanding a broad range of accounting and business issues. Accounting is the process of identifying, measuring and communicating economic information about an entity for decision making by a variety of users.
Your group is appointed to prepare a special-purpose financial report for a start-up, one-person accounting practice, owned by ‘Name' (one of your group members). Determine a business name of your practice; check the businesses name availability by using the search tool in ASIC Connect
Basic information
- Business structure: Sole trader
- Business Industry: Accounting and bookkeeping service
- Start-up fund: $200,000
- End of financial year: June
Your group report should cover the following: (no word limit/requirement)
Section 1: Environment in accounting industry
• Identify the role of the accountant
• Current and future required skills for accountants
• Examples of existing opportunities for careers in accounting
• Explain globalisation of accountants (Why adopt IFRS?)
• Role of ethics and corporate governance in the accounting industry
• Value of studying accounting
Section 2: Executive summary
• Business history / ideas
• Mission / goals
• Keys to success
Section 3: Target market / services provided
• Target market analysis
• Services provided
• Marketing plan
Section 4: Financials - a trial balance is to be given in Moodle
• Financial statements (income statement, statement of changes in equity and balance sheet)
• Fundamental financial statement analysis
Section 5: Group activity report / References
• Group meeting minutes / summary
• Group opinions, including recommendations / conclusion
• References
Section 6: Oral presentation
• Individual presentation during lecture/tutorial session
Task Details: Groups must allocate each student in the group a part of the answer to prepare. The group must coordinate and consolidate each student's answer into the overall response and final report to be submitted. Each group member should have a copy of the Group List with the contact details, Name, Mobile phone and email address for all members of the group.
Research requirements: Students need to support their analysis with reference from the text and a minimum of four (5) suitable, reliable, current and academically acceptable sources - check with your tutor if unsure of the validity of sources. Groups seeking Credit or above grades should support their analysis with increased number of reference sources comparable to the grade they are seeking.
Group Report: no word limit/requirement report, in Word .doc or .docx. Use Arial font size 12. The report must be typed and printed for submission. Please attach the KOI assignment coversheet with all group members' names filled in. Use Harvard referencing.
Attachment:- Financial Information.rar