Assessment Type: Assignment - individual assessment
Purpose: This assessment is designed to allow students to demonstrate a higher level of understanding of accounting standards and theoretical and philosophical approaches, as they apply to the resolution of more complex accounting problems.
Company: oz minerals
Word Length: 1500 Words (Guide). If you get to say 1300 words and don't have anything else to write - stop there rather than filling 200 irrelevant words.
Submission: Submissions must be made via Turnitin by 5.00pm Friday of Week 6.
Topic: • This assignment covers the in-depth theoretical concepts with practical accounting task application based on the topics from the subject.
Task Details: 1. Download the latest annual report of one listed companies. Annual Reports are available on the company website or ASX website. (You should check with your tutors about the company you wish to choose as some may not be suitable. See list in moodle of companies you are not able to choose.
2. Students are required to prepare a comprehensive report directed to an Australian ASX Top 100 listed corporation detailing a critical analysis of the effectiveness of the corporation to meet the obligations of the conceptual framework of accounting.
3. Specific questions to be answered. (the detail of this can be found in the copy of the Conceptual Framework found on moodle).
As a starting point you may like to consider these questions:
1. Has the company met the objectives of General Purpose Financial Reporting?
2. Are the target audience of General Purpose Financial Reports able to adequately use this report to gather information for their needs?
3. Has the company satisfied the recognition criteria for the elements of financial statements?
4. Has the company exhibited the Fundamental qualitative characteristics of Financial Reporting?
5. Has the company exhibited the Enhancing qualitative characteristics of Financial Reporting?
The analysis and supported recommendations need to be formatted into a professional report as would be expected in a modern organisation by management and clients.
Students need to support their analysis and recommendations with the text and Requirements: minimum of 10 recent and relevant academic journal articles. Other sources may also be used but students need to be confident of the academic validity of such sources.