ACCT20077 | Practical and Written Assessment | Accounts

ACCT20077 | Practical and Written Assessment | Accounts

 

Details

The assignment must be completed as a group assignment for face to face students. Distance students have the option of doing it as a group or can also submit as an individual assignment if you are unable to form a group online. Face to face students will be allocated into groups of 2-3 members by your respective Lecturer. Distance students can form groups themselves via the discussion forum on Moodle. There is no specific writing style required such as a report or an essay for answering the questions.

Before starting this assessment please read the information provided in the Plagiarism and Academic Misconduct tab on Moodle.

Students are to exhibit knowledge for the subject matter by demonstrating:

Understanding and the ability to analyze and interpret the information provided from an accounting perspective

Classification, interpretation, and analysis of accounting statements

Demonstrating accuracy in presenting accounting information by providing a sequence of information, structure, and continuity

The breadth of quality of research by using a minimum of 6-8 references, use of appropriate grammar and good language

Correctly using the APA referencing system to cite academic sources in-text and in the reference list

Allocation of marks

Please use the marking criteria sheet provided separately as a guideline for how marks will be allocated. Please ensure that you use the correct referencing style (APA style) as stated in the Unit Profile.

Formatting

Font: Time New Roman, 12 points, 1.5 line spacing

Document submitted onto Moodle must be in Word format. Page: portrait orientation

Footer: Student IDs of all group members and page number (i.e. s0123456, s2345678 & s5678910 on the left side and page 1 of 3 on the right side).

The cover sheet is completed and attached as the first page for the assignment.

Submission requirements

You must submit your assignment Word document electronically through the secure upload facility in the Moodle system. Please do not email your assignment to your lecturer or the Unit Coordinator. Please ensure all details are complete in the Cover sheet and ensure that it is the FIRST page of your assignment.

These are the minimum requirements as outlined in the marking criteria available on the Moodle site. However, students should note that satisfactorily meeting the minimum requirements will typically only result in the minimum pass grade being awarded. Higher grades will be awarded for students that exceed these minimum requirements. See the marking criteria for further details.

Assignment questions

 

1. Marcus Samuel is a software consultant with Rook Technologies Limited, an entity that sells software products to accounting firms and small businesses. At present, Mr. Marcus Samuel is analyzing a number of software packages that focus on job costing. He needs to pick one package that he can recommend to clients. Each software vendor is keen to have their software selected as it will result in a significant increase in sales for their company. Joanna Ria, salesperson for IT Solutions Limited has told Mr. Marcus Samuel that he should go to Los Angeles to analyze her company’s software package in detail, as the programming experts there could give him a thorough demonstration. Ms. Joanna Ria has also suggested taking his family so that he feels relaxed in a foreign country and is in the right frame of mind to undertake his analysis. She also suggests that Disneyland is worth visiting while Mr. Marcus Samuel is over there. IT Solutions Limited would pick up the expenses for the trip.

 

Required:

1. Do you think Mr. Marcus Samuel should take the trip? Outline any ethical concerns involved. (250 words)

1. Do you think the management of Rook Technologies Limited should allow Mr. Marcus Samuel to go on the trip? Justify your answer. (250 words)

1. Do you think that Rook Technologies Limited should have a code of conduct? What would be the advantages and disadvantages to IT Solutions Limited of having a code of conduct? (250 words)

2. Go to the website and find the consolidated income statement and consolidated balance sheet for Greencross Limited in the 2017 annual report.

Required:

Answer the following questions:

1. What is meant by Greencross Limited ‘consolidated’ Profit or loss (Income) statement? (250 words)

1. What is the total value of each for the following items at the end for the current reporting year for Greencross Limited consolidated account? For each item classify as an asset, expense, revenue, equity or liability. Provide reasons for your classification.

1. Cash and cash equivalents

1. Provisions

• Inventories

1. Property, plant, and equipment  (400 words)
2. The key statistical data is provided at the bottom for the income statement. For each item, summarise the change occurring between 2016 and 2017 and what this means for Greencross Limited.

			Continued over the next page
Item	2016	2017	Summary  (what  this  means
	%	%	for Greencross Limited)
	Change	Change
Gross margin percentage
Operating expenses
Revenue Growth
NPAT
Finance cost
Non-current assets
Number of stores and
veterinary clinics at the
end for the year
Cash flow from operating
activities
			(400 words)

1. What is the purpose of providing two years of comparative figures for the financial statements (i.e., 2016 and 2017)? How would this information be useful to one of Greencross Limited’s shareholders?

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