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This assignment is prepared by Dr Kazi Islam, Lecturer in
Accounting, UC- ACCT20074, T1-2019, CQU
ACCT20074 Contemporary Accounting Theory
Term 1 Assessment 3: Practical report (Major assignment)
Basic information:
Nature of task Individual
Total marks 50 (50% of the unit)
Due date Week 12 Friday (7 Jun. 2019) 11:45 pm AEST1
Return date Results will be published with other units
university-wide (not before certification date)
Word limit 3,000 – 3,500 words including the executive
summary, introduction, responses to the
requirements in 2 parts & conclusion but excluding the list of
references and appendixes.
Format Report format as per the marking criteria and
guidelines. Prepare MS Word document.
Main tasks:
This assessment requires to undertake research and report on
several aspects of corporate external reporting
practices. The assessment has two main parts, Part A and Part
B.
Part A: Conceptual framework
(a) Undertake a review of literature regarding the history and
development of the Conceptual Framework
for Financial Reporting in the USA, UK, Australia, and globally
under the umbrella of the International
Accounting Standards Board (IASB). (4 marks)
(b) Discuss the Australian accounting profession’s concerns
regarding the application of the (IASB/IFRS)
Conceptual Framework for Financial Reporting. (3
marks)
(c) Based upon a review of journal articles, critically discuss
academics’ concerns about the quality (potential
benefits and limitations) of the Conceptual Framework for
Financial Reporting. (3 marks)
(d) Download the annual report of 2018 (or 2017, if not
available 2018 annual report) of the selected
company listed on the Australian Securities Exchange. Carefully
read this report and explain how the
conceptual framework has been applied by this company while
it prepared its financial statements and
notes to the accounts. Present your answer considering the (i)
how many statements/reports have been
prepared as per the Conceptual Framework and what are their
major components, (ii) which recognition
principles and measurement bases have been applied for
revenue, assets and liabilities, and (iii) what
qualitative characteristics of information exhibit in company’s
various financial reports. (10 marks)
Part B: Integrated/sustainability reporting
(a) Compare and contrast the Sustainability Reporting
Guidelines of the Global Reporting Initiative (GRI)
and the International Integrated Reporting Framework of the
International Integrated Reporting
Council (IIRC) for explaining a holistic view (broader view) of
corporate social responsibility reporting
in addition to reporting of corporate financial performance.
(4 marks)
(b) Explain the rigour (strengths and limitations) of the
conventional accounting, based upon the
Conceptual Framework for Financial Reporting, to explain the
contents of sustainability as well as
integrated reports. (3 marks)
(c) Discuss the applicability (usefulness or limitations) of the
theories you learned to explain the contents
of sustainability as well as integrated reports. (3 marks)
(d) Prepare an index (a table or checklist) of various
components (criteria) of an integrated report, and
then discuss whether and how the selected South African
company has disclosed information against
each of those components (criteria). (5 marks)
(e) Discuss whether the selected Australian company prepare an
integrated report. If not, then what
alternative report/s this company prepares for reporting
corporate social responsibility in addition to
reporting of its financial performance. Compare the contents of
Austrian company’s corporate social
responsibility reporting in addition to reporting of financial
performance with the index and contents
of the integrated report of the South African company presented
in Part B (d) above. (5 marks)
Required: Prepare a research report as per the template, marking
criteria and relevant guidelines.
1 Please note that because of the time constraint, extension
request will not be entertained unless there are competing
circumstances supported
by required certificates as per the university policies. However,
considering the date of release of this assignment and other
assignments at
the same time, a 3 days extension can be sought from the unit
coordinator by emailing a written statement of the reasons for
extension.
This assignment is prepared by Dr Kazi Islam, Lecturer in
Accounting, UC- ACCT20074, T1-2019, CQU
Template, marking criteria and relevant guidelines
Student Name:
Student Id:
Number Specific Requirements Marks Guidelines
1 Executive summary 2 Summarise the overall findings
2. Introduction 1 State what you intend to research, data
collection & analysis methods, and how
you plan to present in the report
3. Part A
(a) Review of the history and
development of the Conceptual
Framework for Financial Reporting
4 Refer to the textbook and 5 journal
articles. Visit the websites of the IASB,
AASB, and FASB.
(b) Explanation of Australian accounting
profession’s concerns regarding the
Conceptual Framework
3 Visit the website of AASB and refer to 3
web/media articles
(c) Discussion of academics’ concerns
about the quality (potential benefits
and limitations) of the Conceptual
Framework
3 Refer to 4 journal articles. Search article
through CQU Library databases and
google scholar
(d) Explanation of how the conceptual
framework has been applied by the
selected Australian company
10 Download the annual report for 2018; if
not available for 2017. Explain answers
against requirements (i), (ii) & (iii)
4. Part B
(a) Comparison of Sustainability
Reporting Guidelines and
International Integrated Reporting
Framework
4 Visit the websites of GRI and IIRC. Also
use the textbook.
(b) Rigour (strengths & limitations) of the
conventional accounting, based upon
the Conceptual Framework for
contents of sustainability as well as
integrated reports
3 Use the textbook and 2 journal articles
searched through CQU Library databases
and google scholar
(c) Applicability (usefulness or
limitations) of the theories to explain
contents of sustainability as well as
integrated reports
3 Use the textbook and 2 journal articles
searched through CQU Library databases
and google scholar
(d) Preparation of an index (a table or
checklist) of various components
(criteria) of an integrated report, and
discussion of whether and how the
selected South African company has
disclosed information against each of
those components (criteria)
5 Read the international Integrated
Reporting Framework of the IIRC in
preparing index and explain the
integrated reporting practice in the
selected South African company listed
on Jonesburg Stock Exchange
(e) Comparison of Australian company’s
reporting practices with the index and
the integrated reporting practices in
the selected South African company
5 Download Australian company’s annual
report and discuss the quality (nature
and extent) of its disclosure against the
index and SA company’s I/reporting
5. Conclusion 1 Gist of findings and lessens you learned
6. References in the text and in the list
at the end as per APA guidelines
4 Use APA referencing guide
Overall English grammar & presentation skill 2 Assessed
throughout the report
Total Overall marks to be achieved out of 50
Note: Companies will be listed against your name in
moodle. https://www.jse.co.za/ https://www.asx.com.au/
https://www.jse.co.za/
https://www.asx.com.au/

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This assignment is prepared by Dr Kazi Islam, Lecturer in Acco.docx

  • 1. This assignment is prepared by Dr Kazi Islam, Lecturer in Accounting, UC- ACCT20074, T1-2019, CQU ACCT20074 Contemporary Accounting Theory Term 1 Assessment 3: Practical report (Major assignment) Basic information: Nature of task Individual Total marks 50 (50% of the unit) Due date Week 12 Friday (7 Jun. 2019) 11:45 pm AEST1 Return date Results will be published with other units university-wide (not before certification date) Word limit 3,000 – 3,500 words including the executive summary, introduction, responses to the requirements in 2 parts & conclusion but excluding the list of references and appendixes. Format Report format as per the marking criteria and guidelines. Prepare MS Word document. Main tasks: This assessment requires to undertake research and report on several aspects of corporate external reporting practices. The assessment has two main parts, Part A and Part B. Part A: Conceptual framework
  • 2. (a) Undertake a review of literature regarding the history and development of the Conceptual Framework for Financial Reporting in the USA, UK, Australia, and globally under the umbrella of the International Accounting Standards Board (IASB). (4 marks) (b) Discuss the Australian accounting profession’s concerns regarding the application of the (IASB/IFRS) Conceptual Framework for Financial Reporting. (3 marks) (c) Based upon a review of journal articles, critically discuss academics’ concerns about the quality (potential benefits and limitations) of the Conceptual Framework for Financial Reporting. (3 marks) (d) Download the annual report of 2018 (or 2017, if not available 2018 annual report) of the selected company listed on the Australian Securities Exchange. Carefully read this report and explain how the conceptual framework has been applied by this company while it prepared its financial statements and notes to the accounts. Present your answer considering the (i) how many statements/reports have been prepared as per the Conceptual Framework and what are their major components, (ii) which recognition principles and measurement bases have been applied for revenue, assets and liabilities, and (iii) what qualitative characteristics of information exhibit in company’s various financial reports. (10 marks) Part B: Integrated/sustainability reporting
  • 3. (a) Compare and contrast the Sustainability Reporting Guidelines of the Global Reporting Initiative (GRI) and the International Integrated Reporting Framework of the International Integrated Reporting Council (IIRC) for explaining a holistic view (broader view) of corporate social responsibility reporting in addition to reporting of corporate financial performance. (4 marks) (b) Explain the rigour (strengths and limitations) of the conventional accounting, based upon the Conceptual Framework for Financial Reporting, to explain the contents of sustainability as well as integrated reports. (3 marks) (c) Discuss the applicability (usefulness or limitations) of the theories you learned to explain the contents of sustainability as well as integrated reports. (3 marks) (d) Prepare an index (a table or checklist) of various components (criteria) of an integrated report, and then discuss whether and how the selected South African company has disclosed information against each of those components (criteria). (5 marks) (e) Discuss whether the selected Australian company prepare an integrated report. If not, then what
  • 4. alternative report/s this company prepares for reporting corporate social responsibility in addition to reporting of its financial performance. Compare the contents of Austrian company’s corporate social responsibility reporting in addition to reporting of financial performance with the index and contents of the integrated report of the South African company presented in Part B (d) above. (5 marks) Required: Prepare a research report as per the template, marking criteria and relevant guidelines. 1 Please note that because of the time constraint, extension request will not be entertained unless there are competing circumstances supported by required certificates as per the university policies. However, considering the date of release of this assignment and other assignments at the same time, a 3 days extension can be sought from the unit coordinator by emailing a written statement of the reasons for extension. This assignment is prepared by Dr Kazi Islam, Lecturer in Accounting, UC- ACCT20074, T1-2019, CQU Template, marking criteria and relevant guidelines Student Name:
  • 5. Student Id: Number Specific Requirements Marks Guidelines 1 Executive summary 2 Summarise the overall findings 2. Introduction 1 State what you intend to research, data collection & analysis methods, and how you plan to present in the report 3. Part A (a) Review of the history and development of the Conceptual Framework for Financial Reporting 4 Refer to the textbook and 5 journal articles. Visit the websites of the IASB, AASB, and FASB. (b) Explanation of Australian accounting profession’s concerns regarding the Conceptual Framework 3 Visit the website of AASB and refer to 3 web/media articles (c) Discussion of academics’ concerns about the quality (potential benefits and limitations) of the Conceptual Framework 3 Refer to 4 journal articles. Search article through CQU Library databases and google scholar
  • 6. (d) Explanation of how the conceptual framework has been applied by the selected Australian company 10 Download the annual report for 2018; if not available for 2017. Explain answers against requirements (i), (ii) & (iii) 4. Part B (a) Comparison of Sustainability Reporting Guidelines and International Integrated Reporting Framework 4 Visit the websites of GRI and IIRC. Also use the textbook. (b) Rigour (strengths & limitations) of the conventional accounting, based upon the Conceptual Framework for contents of sustainability as well as integrated reports 3 Use the textbook and 2 journal articles searched through CQU Library databases and google scholar (c) Applicability (usefulness or limitations) of the theories to explain contents of sustainability as well as integrated reports 3 Use the textbook and 2 journal articles searched through CQU Library databases
  • 7. and google scholar (d) Preparation of an index (a table or checklist) of various components (criteria) of an integrated report, and discussion of whether and how the selected South African company has disclosed information against each of those components (criteria) 5 Read the international Integrated Reporting Framework of the IIRC in preparing index and explain the integrated reporting practice in the selected South African company listed on Jonesburg Stock Exchange (e) Comparison of Australian company’s reporting practices with the index and the integrated reporting practices in the selected South African company 5 Download Australian company’s annual report and discuss the quality (nature and extent) of its disclosure against the index and SA company’s I/reporting 5. Conclusion 1 Gist of findings and lessens you learned 6. References in the text and in the list at the end as per APA guidelines 4 Use APA referencing guide Overall English grammar & presentation skill 2 Assessed throughout the report
  • 8. Total Overall marks to be achieved out of 50 Note: Companies will be listed against your name in moodle. https://www.jse.co.za/ https://www.asx.com.au/ https://www.jse.co.za/ https://www.asx.com.au/