Reference no: EM132895478

ACCM4300 Financial Reporting - Kaplan Business School

Required:

Part (A) - Write a memorandum to the Board of Directors (the members of the Board have varying degrees of accounting knowledge or understanding) as noted in the assignment details. The memo should be no more than 1000 words.

Part (B) - Summarise your findings in a 4-5 minutes' video presentation.

• Note that marks are also allocated for professional presentation, grammar, and spelling.

Assignment Components

Part A: Technical Component

This mark covers the technical content of your advice and the explanation on each of the issues, the calculations and the sources and references used and the format of the memo.

Part B: Communication Skills

Video Presentation- This mark covers the Communication skills of the student. You are required to explain the financial statements of the group of companies you have selected to the board of directors making sure you bring to their attention any unusual or interesting information. The video presentation will be limited to 5 minutes per student.

Please make sure you follow the guidelines/ policies relating to the presentation of the written work, late policy and academic integrity. Please familiarise yourself with the assessment marking rubric to guide you in how you can score marks. The assignment rubric is a separate document and you are advised to read through it to obtain guidance on how the lecturers will mark your assignment

Details of the Assignment

Select Company:

You will select a set of Financial Report of an ASX Listed Company and obtain approval from your lecturer for the Group of Companies that you have selected. Please note that no two individuals may work on the same Group of Companies, so if another individual has already registered their interest in a particular Group of Companies, you will be advised to select a different Group of Companies.

Read the Annual Report including the financial statements of the Group and write a Memorandum to the Board of Directors clearly explaining some of the technical aspects of consolidation. Make sure you draw on the company's specific details to explain the intricacies of consolidation to the Board and as much as possible avoid answering in general terms.

Please make sure that your assignment is in a MEMO Format - A Report format will not be marked. The assignment must include appropriate references to Accounting standards and other regulatory bodies.

Some of the aspects that you need to cover in your assignment are (but not restricted to):

1. Why did the parent entity have to prepare consolidated financial statements when the subsidiary company is a separate legal entity in its own right?

2. Does the published set of group financial statements reveal the company's policy on corporate governance, Audit committees, Sustainability, Solvency? Does it reveal these issues and if so where and why?

3. Has there been any goodwill on the acquisition? Or any gain on bargain purchase? Where would you find it in the financial statements and what does it mean? Any impairment?

4. Any other relevant matter that you may wish the Board of Directors to make note of in respect of some transaction or event, the balance of account or disclosure that will assist them in understanding the financial statements of the group.

Attachment:- Financial Reporting.rar