Task:
Each member of the group is to research the 2016 annual report (and corporate website) for one major publically listed Australian corporation. The companies selected must be approved by your Tutor during the tutorial in Week 6 (following the Mid-Trimester Exam).
Much of the information you require for management performance measures is likely to be found in the Remuneration Report within the selected Companies' Annual Report.
To give some consistency and a good basis for comparison, your group should focus on companies within the SAME INDUSTRY or having close links. (For example NOT an airline operator and a retailer.)
The REPORT component
Each individual group member is to research and write an individual summary report that includes the following:
1. A review of the company's stated Mission and Vision (if these can be found) and research and discover the corporate goals of the organisation. (Review the Chairman and CEO's Statements in the Annual Report and the Corporate Website for this information.)
2. Research and discover the means by which the senior managers (CEO) and top executives will have their performance measured. (Read the Remuneration Report carefully to discover how the PERFORMANCE is measured. Note you may lose marks if you only concentrate on WHAT OR HOW MUCH they will be paid, You are trying to discover HOW the bonuses are being calculated!)
NOTE - DO NOT REVIEW THE REMUNERATION OF THE BOARD OF DIRECTORS OTHER THAN THE EXECUTIVE MEMBERS SUCH AS THE CEO
3. Discover the Key Measures of Performance (KPIs) of the company for 2016.
4. Research commentary on each company's performance (see newspaper and other reputable financial information sources - all MUST be referenced) and document (cut and paste as referenced materials (use JPEG images of screen grabs/scans etc.) a few (no more than THREE!) to enter into your report.
5. Reflect on what you see in the Annual Report (including the Chairman and CEO's report) and the level of remuneration the major executives have received and compare how the COMPANY views (and reflects its performance) and that of the commentary you have collected (from Q.4).
6. Write up, based on your research of these two sources (Company's own reports versus Outside reports) whether you believe this company IS or IS NOT achieving the performance required to achieve their corporate vision and goals. Comment on whether you see that the measurements used are adequate and/or effective in motivating management and at what level. (E.g. Generally useful, seemingly meeting expectations or achieving great results according to these measures.)
7. The GROUP as a whole should then write up a comparison (analyse, compare AND contrast approaches) for each of the companies researched by the individual members.
8. Finally, draw conclusions on which company's performance measurement systems are producing the best results for the shareholders. (Note - there may be more than one conclusion, e.g. Company A is achieving great results in the short term however Company B appears to be setting a good foundation for growth in the long term.)
The GROUP report requirements and layout
The report is to be in a format acceptable for a professional presentation. The sections should include:
a. An Executive Summary (this is a ONE PAGE ‘tear-out' report)
It contains ALL the basic information AND the conclusions ON ONE PAGE
b. Table of Contents
c. Introduction
This should introduce THE REPORT - NOT the companies you are going to research. It should say what the purpose of the report is for, which companies (just a mention of their names is adequate) and the industry from which they are associated. Write a little about your methodology and what you are examining in the report.
d. Background Material (A VERY IMPORTANT SECTION)
This section is an opportunity to discuss academic theory in relation to company accounting systems and performance measurement systems generally. How do they influence management performance? How do companies use these measures to maintain control? How do management accountants assist in this regard? What is the role of Management Accounting in the control function of an organisation?
Each group report should include at least FIVE or SIX PEER-REVIEWED ACADEMIC ARTICLES related to Remuneration Reports and Schemes. (i.e. investigations or studies conducted on compliance and reviews of methods and measures used could be reviewed in this section.
e. Individual reports
Each student identifies the company studied and their findings (as per the previous section.)
f. Comparison of findings
This is where the group will compare and contrast what they discovered about each company and each company VERSUS the other companies.
g. Summary of findings
Write up your groups findings in relation to which company you believe has the best measurement system etc. (See previous section)
h. Conclusion
i. This final written section should reflect upon what you stated in the Introduction. (I.e. what you HAVE DONE and what you DID find and a statement on the topic demonstrating your new understanding on Measuring Management Performance.) Please do NOT repeat the summary of findings, the conclusion is about closing the report, not introducing new research material.
j. Appendices - These are optional and can include any additional findings and materials you believe are relevant but perhaps do not have to be INSIDE the report.
k. Referencing - A COMPLETE bibliography is required which is Harvard Anglia compliant. (Please see KOI resources if you need assistance with referencing.)
Task:
Each student is to present, along with their other group members, the examples they have researched and presented within the group report, accompanied with a visual presentation.
Each student must show at least one graphic example of the findings of a) their section of the report relating to the company they researched and b) some portion of the overall comparison material the group compiled when the individual reports were combined. Please do NOT cut and paste from your report. You may use some of the graphic images (charts or pictures) but not the text. The presentation should be used to illustrate or present the MOST IMPORTANT (in your own view) points that you discovered in your individual research and in your collaborative work as a group about your chosen company and about this topic.
Companies name
1. Redhill education ltd
2. Reef casino trust
3. Domino's pizza
4. sine corporation ltd
all ASX listed
at least 500 words of each companies
The GROUP report requirements and layout
The report is to be in a format acceptable for a professional presentation. The sections should include:
a. An Executive Summary (this is a One Page ‘tear-out' report)
It contains All the basic information AND the conclusions on one page
b. Table of contents
c. Introduction
This should introduce THE REPORT - NOT the companies you are going to research. It should say what the purpose of the report is for, which companies (just a mention of their names is adequate) and the industry from which they are associated. Write a little about your methodology and what you are examining in the report.
d. Background Material (AV (A VERY IMPORTANT SECTION)
This section is an opportunity to discuss academic theory in relation to company accounting systems and performance measurement systems generally. How do they influence management performance? How do companies use these measures to maintain control? How do management accountants assist in this regard? What is the role of Management Accounting in the control function of an organization?
Each group report should include at least FIVE or SIX PEER-REVIE ACADEMIC ARTICLES related to Remuneration Reports and Schemes. (i.e. investigations or studies conducted on compliance and reviews of methods and measures used could be reviewed in this sections.
e. Individual reports
Each student identifies the company studied and their findings (as per the previous section.)
f. comparison of findings
This is where the group will compare and contrast what they discovered about each company and each company VERSUS the other companies.
g. Summary of findings
Write up your groups findings in relation to which company you believe has the best measurement system etc. (See previous section)
h. Conclusion
i. This final written section should reflect upon what you stated in the Introduction. Ii. Conclusion
(I.e. what you HAVE DONE and what you DID find and a statement on the topic demonstrating your new understanding on Measuring Management Performance.)
Please do NOT repeat the summary of finding; the conclusion is about closing the report, not introducing new research material.
Appendices - These are optional and can include any additional findings and materials you believe are relevant but perhaps not have to be INSIDE the report.
Referencing - A COMPLETE bibliography is required which is Harvard Anglia compliant. (Please see KOI resources if you need assistance with referencing.)
YOU FIND IT VERY USEFUL TO MAKE A TABLE USING THESE 10 POINTS AS A IN POINT TO REVIEW YOUR GROUP' s REPORT! You should also use the Rubric to self-assess how well your report reaches the targeted outcomes.