MAC001AA Financial Accounting and Reporting Assessment 4 Group Research Project and presentation Page 1 of 5 SUBJECT CODE: MAC001AA SUBJECTNAME: FINANCIAL ACCOUNTING AND REPORTING Assessment 04: Group Research Project and Presentation Trimester 4, 2024 Assessment weight 35% comprises (1) Group Research Project and (2) Presentation. Submission Requirements. This Assessment is to be submitted before 14.45pm 20/11 (Wednesday) in Week 12. • Assessment is to be submitted by one of the following means: DO NOT LODGE BY FAX nor EMAIL nor at LECTURER’S OFFICE KEEP A COPY • The Assessment must be lodged on or before the due date indicated in the assignment details. Only word docs will be acceptable. Handwritten answers will be rejected. • The Assignment must conform to the requirements set out in this Assignment. • The Assessment must be lodged online via the MAC001AA: UBSS Moodle Turnitin Dropbox • Ensure yourfile is named using a file naming convention that allows the lecturer to identify to whom it belongs. File name is “Group members initial name.MAC001AAssessment 4”. Failure to use an acceptable file naming convention may result in your Assessment lodgment being rejected. • KEEP A COPY – Ensure you have a copy of the Assessment lodged. If you have submitted assessment work electronically, please make sure you have a backup copy. ASSIGNMENT INFORMATION The following matters should be given particular attention: • This is group work. Group Research Project & Presentation in class week 12 Wednesday (20/11) at 14.45pm in drop box. Report and presentation must be submitted by 14.45pm (20/11). Note: Assessment times are given at EST (Sydney and Melbourne). Students and facilitators on Adelaide Campus should pay attention to the time difference. • This is a group assessment. Group members are FIVE members. • A group formation list will be available in Moodle in week 4. MAC001AA Financial Accounting and Reporting Assessment 4 Group Research Project and presentation Page 2 of 5 • Please make sure that your group members name and ID number are statedon the cover sheet of your submission. • This Assessment is worth 35% of the total assessment for this unit. This Assessment will be marked out of 100 and scaled down to being out of 35. • Assessment has THREE Parts: o Part A: Research IASB, FASB, and AASB: Accounting and politics o Part B: Research ASX list Company Sustainability Practice o Part C: Group Presentation in Class in week 12 • Use 12-point Times font with 2cm margins on your page and 1.5 line spacing. • Remember to reference your writing and include a reference list at the end of the Assessment. Follow Harvard Referencing / APA Style in the Assessment. • Total weight of Assessment 100 marks. o Part A: 20 marks o Part B: 60 marks o Overall Presentation in word report: 10 marks – including cover page, line spacing, language, page numbering, and referencing. o Part C: 10 marks • Word Limit: Part A: 1500 and Part B: 3500. • Two files (word report file and PPT file) need to submit before presentation starts in class. If you have specific questions and require further clarifications, please contact: Dr Nilima Paul nilima.paul@ubss.edu.au Part A: Research IASB, FASB, and AASB: Accounting and politics (word limit 1500) [20 marks] Visit the websites of the IASB (www.ifrs.org), the FASB (www.fasb.org) and the AASB (www.aasb.com.au). REQUIRED: A. Discuss what influence politics has on the establishment of accounting standards. [10 marks] B. Examine whether political factors have played a role in the development of accounting standards in Australia, and comment on whether you agree or disagree with the Australian Government’s involvement in the standard-setting process. [10 marks] Part B: Research ASX listed company Sustainability practice (word limit 3500) [60 marks – (25 + 35)] ASSESSMENT DESCRIPTION MAC001AA Financial Accounting and Reporting Assessment 4 Group Research Project and presentation Page 3 of 5 There are two sections in this research component. Select a company’s latest annual report (2023) of one of the following companies listed on the Australian Stock Exchange. You are required to answer the following assignment questions for the company selected in a report format and compare the findings of your company (wherever necessary) with another competing company from the same industry chosen by you, preferably from ASX 200 companies available at http://www.asx200list.com/ 1. CBA Commonwealth Bank (Financial) 2. WDS Woodside Energy Group (Energy) 3. TLS Telstra Group Limited (Communication services) 4. GMG Goodman Group (Real Estate) 5. TCL Transurban Group (Industrial) • All annual reports are available on the website of these companies. • Choosing a company otherthan those mentionedabove is not permitted. You should consult with your lecturer. Part B: Section A: Draft a report incorporating the following points about your selected company (not exceeding 1500 words). (Note: there is no word limits for each question) [25 marks] Company- Introduction, Business & operating activities, Finances and Financial performance 1] Describe the core business of the company. Please provide full details of its different activities and or business segments. [5 marks] 2] Discuss the industry in which the chosen company operates. For example, is it a growing or declining industry, the company’s main competitors and what are they doing, etc.? Ensure you discuss the implications of these factors. [5 marks] 3] Describe key elements of Financial Performance reported by the company in the annual report. [5 marks] 4] Has this company reported any event that occurred after the reporting date? Describe the event. [5 marks] 5] Were there any changes in accounting policies disclosed in the annual report? If yes, describe those changes. [5 marks] MAC001AA Financial Accounting and Reporting Assessment 4 Group Research Project and presentation Page 4 of 5 Part B: Section B: Research component (word limit of 2000 words) [35 marks] 1] If your selected company publishes any corporate social responsibility report or sustainability report, then discuss some of their key initiatives regarding their social responsibility and sustainability. [10 marks] 2] Why do you think corporate social responsibility and sustainability have become so important in the modern corporate world? Use any sources (books, journal articles, Parliament debates, Royal Commissions, media, blogs, etc.) and critically argue the case. [10 marks] 3] How has Covid19 impacted the chosen company’s operations, revenue, and staffing? This information may not be available in the annual report, but an online search will show if there was a drop in sales, job losses, and so on. [10 marks] 4] Importance of sustainability [5 marks] 5] Executive summary and conclusions [5 marks] Part C: [10 marks] Based on the group report need to prepare 10 to 15 slides to give a presentation in week 12 class. Each member of the group must engage in a presentation. If a member of the group is absent in presentation will get zero mark of absent member. Follow the following mark allocation sheet to develop your Assignment. Part A Questions Marks Question 1 Discuss what influence politics has on the establishment of accounting standards. 10 Question 2 Examine whether political factors have played a role in the development of accounting standards in Australia, and comment on whether you agree or disagree with the Australian Government’s involvement in the standard-setting process. 10 MAC001AA Financial Accounting and Reporting Assessment 4 Group Research Project and presentation Page 5 of 5 Part B: Section A Describe the core business of the company. Please provide full details of its different activities and or business segments. 5 Discuss the industry that the chosen company operates in. For example, is it a growing or declining industry, which are the company’s main competitors and what are they doing, etc. Ensure you discuss the implications of these factors. 5 Describe key elements of Financial Performance reported by the company in the Director’s report 5 Has this company reported any event that occurred after the reporting date? Describe the event. 5 Were there any changes in accounting policies disclosed in the annual report? If yes, describe those changes. 5 Part B: Section B Key CSR and sustainability initiatives 10 Critical analysis of CSR and sustainability initiatives 10 Importance of CSR and sustainability 5 Impact of Covid19 5 Executive summary and conclusions 5 Part C: Presentation Power point preparation and delivery of presentation 10 Overall Presentation – including cover page, written Communication-Structure, language, expression, line spacing, page numbering and accurate referencing. 10 Total mark 100 Final Mark Out of 35 xxx End of Assignment