CORPORATE ACCOUNTING

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Cover page

Unit
Details		 Name CORPORATE ACCOUNTING
Code HI5020
Year, Trimester 2023, Trimester 1

 

Assessment
Details		 Name Individual Assignment
Due Date and Week 26 / 05 / 2023, Week #10

 

Individual
Student
Details		 Student Number
First Name
Family Name

 

Submission
Declaration		 Integrity Declaration I have read and understand academic integrity policies
and practices and my assessment does not violate these.
Full Name
Submission Date

Instructions

Academic
Integrity
Information		 Holmes Institute is committed to ensuring and upholding academic integrity. All
assessment must comply with academic integrity guidelines. Important academic
integrity breaches include plagiarism, collusion, copying, impersonation, contract
cheating, data fabrication and falsification. Please learn about academic integrity
and consult your teachers with any questions. Violating academic integrity is
serious and punishable by penalties that range from deduction of marks, failure of
the assessment task or unit involved, suspension of course enrolment, or
cancellation of course enrolment.
Format
Instructions		 • Most assessments must be in MS Word format with no spacing, 11-pt Calibri
font and at least 2cm margins on all four sides with appropriate section
headings and page numbers.
• You must name your file with the Unit Code and Student ID (e.g. “HI5003-
GWA1995”).
• Check that you submit the correct document, as special consideration is not
granted if you make a mistake.
• Student ID needs to be indicated on the cover page.
Penalties • All work must be submitted on Blackboard by the due date and time, along
with a completed Assessment Cover Page. Late penalties apply.
• Reference sources must be cited in the text of the report and listed
appropriately at the end in a reference list using Holmes Institute Adapted
Harvard Referencing. Penalties are associated with incorrect citation and
referencing.

 

Assessment Details and Submission Guidelines
Trimester T1 2023
Unit Code HI5020
Unit Title Corporate Accounting
Assessment Type Individual Assignment
Assessment Title Raising funds for corporate operations and liabilities, provisions, contingent liabilities
and contingent assets. Measurement Basis for Assets.
Purpose of the
assessment (with ULO
Mapping)		 This assignment aims at developing a clear understanding of students on different
sources of funds used/raised by companies. They will need to identify different sources
of funds used by three selected companies and discuss the evolution of the sources of
funds used by the selected companies over a period of two years. They will have to
relate the relative merits of different sources of funds used by the selected companies
and shed light on why the selected companies are using different sources of funds
differently. Students will also have to summarise the key concepts under the AASB 137
‘Provisions, Contingent Liabilities and Contingent Assets’ and identify the use of this
standard by the selected companies. Students will have to identify all different
categories of assets recorded by the selected companies and examine the measurement
basis used by the company for each class of assets. (ULO 2, 3, 4).
Weight 35 % of the total assessments
Total Marks 35
Word limit 3000 words ±500 words
Due Date Assignment submission: Final Submission of individual Assignment: 11:59 pm Friday,
Week 10
Late submission incurs penalties of five (5) % of the assessment value per calendar day
unless the lecturer has granted an extension and/or special consideration before the
assessment deadline.
Submission
Guidelines		 • All work and a completed Assignment Cover Page must be submitted on Blackboard
by the due date.
• The assignment must be in MS Word format, with no spacing, 12-pt Arial font and 2
cm margins on all four sides of your page with appropriate section headings and
page numbers.
• Reference sources must be cited in the text of the report and listed appropriately at
the end in a reference list using the Holmes Adapted Harvard referencing guide.

Assignment Specifications
Assessment task:
Collect the latest annual reports of THREE (3) ASX-listed companies for the last two years. Based on
your collected annual reports, do the following tasks:

(i)
(ii) 		Identify the different sources of funds that your selected companies have used
Examine the evolution of the sources of funds used by the company over the last two
years period with a specific focus on the changes in different sources of funds
What percentage of the fund is internally generated, and what percentage of the fund is
externally generated?
Explain the relative merits and demerits of the different sources of funds used by your
selected companies.
Critically examine different types of liabilities shown in the balance sheet of your selected
companies. Identify which of the liabilities are interest-bearing and which ones do not
interest is bearing.
Critically examine the key provisions under the AASB 137 ‘Provisions, Contingent Liabilities
and Contingent Assets.
Identify if your selected companies have referenced this particular standard (AASB 137)
in their annual reports.
Identify all different categories of assets recorded by the selected companies
Critically examine the measurement basis used by the company for each class of assets
recorded by the company
(iii)
(iv)
(v)
(vi)
(vii)
(viii)
(ix)

Assignment Structure should be as the following:
Abstract – One paragraph
List of Content
Introduction
Body of the assignment with the detailed answer on each of the required tasks
Summary/Conclusion
List of references
…..
Marking criteria

Marking criteria Weighting
Abstract 1%
List of content & overall presentation of the assignment 1%
Introduction 1%
Identify the different sources of fund that have been used by your selected companies 1%
Examine the evolution of the sources of fund used by the companies over the two years
period with specific focus on the changes of different sources of funds		 4%
What percentage of the fund is internally generated and what percentage of the fund is 2%

 

externally generated.
Explain the relative merits and demerits of the different sources of fund used by your
selected companies.		 3%
1%
Critically examine different types of liabilities shown in the balance sheet of your selected
companies? Identify which one of the liability interest bearing and which one is not
interest is bearing.		 3%
Critically examine the key provisions under the AASB 137 ‘Provisions, Contingent
Liabilities and Contingent Assets.		 4%
Identify if your selected companies have made any reference to this particular standard
(AASB 137) in their annual reports.		 4%
Identify all different categories of assets recorded by the selected companies 4%
Critically examine the measurement basis used by the company for each class of assets
recoded by the company		 5%
Conclusion 1%
TOTAL Weight 35%

Marking Rubric

Excellent Very Good Good Satisfactory Unsatisfactory
Identify the
different
sources of
fund that
have been
used by your
selected
companies		 Specific sources
of liabilities and
equities have
been clearly
identified.
Demonstrate a
clear
understanding
of each sources		 Specific
sources of
liabilities and
equities have
been clearly
identified.		 Gross
amount of
liabilities and
equities have
been
identified
without
specific
identification
of each
sources.		 Gross
amount of
liabilities and
equities have
been
identified
without
specific
identification
of each
sources.
There are
some errors		 Has failed to
identify
different
sources of fund
used by the
company. Many
errors in the
answer or has
misunderstood
the question
Examine the
evolution of
the sources
of fund used
by the
company
over the last
two years
period with
specific
focus on the
changes of
different
sources of
funds		 The evolution
of different
sources of
funds within
the company
(with specific
focus on their
changes) has
been discussed
comprehensivel
y.		 The
evolution of
different
sources of
funds within
the company
(with specific
focus on
their
changes) has
been
discussed
with minor
errors.		 The
evolution of
different
sources of
funds within
the company
(with specific
focus on
their
changes) has
been
discussed
with major
errors.		 The
evolution of
different
sources of
funds within
the company
(with specific
focus on
their
changes) has
been
discussed
with major
errors. The
answer still
make sense		 Has answered
the question
with many
errors and
misunderstandi
ng or has not
answered the
question
What
percentage
of the fund
is internally
generated
and what
percentage
of the fund
is externally
generated.		 Has shown the
percentage of
each sources of
funds used by
the company
distinguishing
between
externally
generated
funds and
internally
generated fund.		 Has shown
the
percentage
of each
sources of
funds used
by the
company.
Externally
generated
funds and
internally
generated
funds have
been
distinguished
with minor		 Has shown
the
percentage
of each
sources of
funds used
by the
company.
Externally
generated
funds and
internally
generated
funds have
been
distinguished
with major		 Has shown
the
percentage
of each
sources of
funds used
by the
company.
Externally
generated
funds and
internally
generated
funds have
not been
distinguished
.		 Has not shown
the percentage
of each sources
of funds used by
the company.
Externally
generated funds
and internally
generated funds
have not been
distinguished.

 

errors. errors.
Explain the
relative
merits and
demerits of
the different
sources of
fund used by
your
selected
companies.		 The relative
merits and
demerits of the
different
sources of
funds used by
the company
have been
explained with
particular
reference to the
context of the
selected
companies.		 The relative
merits and
demerits of
the different
sources of
funds used
by the
company
have been
explained.
Has made
reference to
the context
of the
selected
companies
with minor
errors		 The relative
merits and
demerits of
the different
sources of
funds used
by the
company
have been
explained
with minor
errors. Has
made
reference to
the context
of the
selected
companies
with major
errors		 The relative
merits and
demerits of
the different
sources of
funds used
by the
company
have been
explained
with major
errors and
confusions.
No reference
has been
made to the
context of
the selected
companies		 Insignificant or
no acceptable
attempt has
been made to
the relative
merits and
demerits of the
different
sources of funds
used by the
company have
not been
explained
Critically
examine
different
types of
liabilities
shown in the
balance
sheet of
your
selected
companies?
Identify
which one of
the liability
interests
bearing and
which one is
not interest
is bearing.		 All different
types of
liabilities have
been identified.
Has correctly
identified
interest bearing
and non
interest-bearing
liabilities.		 All different
types of
liabilities
have been
identified.
Minor errors
in identifying
interest
bearing and
non-interest
bearing
liabilities.		 All different
types of
liabilities
have been
identified.
Major errors
in identifying
interest
bearing and
non-interest
bearing
liabilities.		 Minor errors
in identifying
different
types of
liabilities.
Major errors
in identifying
interest
bearing and
non-interest
bearing
liabilities.		 Has not been
able to identify
different types
of liabilities. Has
not been able to
identify interest
bearing and
non-interest
bearing
liabilities.
Critically
examine the
key
provisions
under the
AASB 137
‘Provisions,
Contingent		 Has shown an
excellent grasp
of the concepts
under AASB 137		 Has shown a
good level of
understandin
g of the
concepts
under AASB
137		 Has shown a
basic level of
understandin
g of the
concepts
under AASB
137.		 Has shown a
poor level of
understandin
g of the
concepts
under AASB
137.		 Has not shown
any acceptable
level of
understanding
of the concepts
under AASB
137.

 

Liabilities
and
Contingent
Assets.
Identify if
your
selected
companies
have made
any
reference to
this
particular
standard
(AASB 137)
in their
annual
reports.		 Has been able
to identify and
explain the
areas where the
selected
companies have
made reference
to AASB 137		 Has been
able to
identify and
explain the
areas where
the selected
companies
have made
reference to
AASB 137
with minor
errors.		 Has been
able to
identify and
explain the
areas where
the selected
companies
have made
reference to
AASB 137
with major
confusions
or errors.		 Has been
able to
identify and
explain the
areas where
the selected
companies
have made
reference to
AASB 137
with major
confusions
or errors.		 Has not been
able to identify
and explain the
areas where the
selected
companies have
made reference
to AASB 137.
Identify all
different
categories of
assets
recorded by
the selected
companies		 Has completely
identified all
different classes
of assets
recorded by the
company. The
focus is on
classes of
assets, not on
individual
assets.		 Has
identified
different
classes of
assets
recorded by
the company
with minor
errors.		 Has
identified
different
classes of
assets
recorded by
the company
with major
errors		 Has
identified
different
classes of
assets with
major errors.
Has mixed up
assets with
other
elements of
the balance
sheet		 Has not
provided an
acceptable
answer.
Critically
examine the
measureme
nt basis used
by the
company for
each class of
assets		 Has
comprehensivel
y examined the
measurement
basis used by
the company
with
demonstration
of excellent
level of
understanding
of the concepts
of historical
cost and fair
value.		 Has
examined
the
measuremen
t basis used
by the
company.
Has
demonstrate
d a good
level of
understandin
g of the
concepts of
historical
cost and fair
value.		 Has
examined
the
measuremen
t basis used
by the
company
with minor
errors. Has
demonstrate
d a basic
level of
understandin
g of the
concepts of
historical
cost and fair
value.		 Has
examined
the
measuremen
t basis used
by the
company
with major
errors. Has
demonstrate
d a poor
level of
understandin
g of the
concepts of
historical
cost and fair
value.		 Has failed to
identify the
measurement
basis used by
the company.
Has failed to
demonstrate
any acceptable
level of
understanding
of the concepts
of historical cost
and fair value