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ACC2100/ACF2100 Financial Accounting Semester XXXXXXXXXXReflective Writing Task (10%) Due date: Wednesday 26th April by 4pm (Week 8) Word Limit: 750 words Task details: This is a reflective writing...

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ACC2100/ACF2100 Financial Accounting Semester XXXXXXXXXXReflective Writing Task (10%) Due date: Wednesday 26th April by 4pm (Week 8) Word Limit: 750 words Task details: This is a reflective writing task requiring you to reflect and identify one or two specific materials in this unit that have changed your thinking in some way that will impact your future practice as an accountant. Required: In essay format, you are required to: • Clearly identify one or two materials in this unit that have changed your thinking (for example, this can be specific aspects of lecture notes, tutorial questions, presentations, textbook, lecture recordings and so on) • Explain your thinking before engaging with the materials • Explain how your thinking has changed since engaging with the materials • Explain how your new understanding will impact your future practice as an accountant (or other professional) Submission: 1. A hard copy of the assignment must be submitted in the relevant assignment box on your home campus by the due date. Work submitted for assessment must be accompanied by a completed and signed assignment coversheet. AND 2. A copy of your assignment must be uploaded to Moodle by the due date. Failure to meet one or both of the submission requirements will result in late penalties being applied. Penalties for late lodgement: A maximum penalty of 10% of the total mark allocated to this assessment will be deducted for each day that it is late. 2 Special consideration: Applications for an extension of time allocated to an in-semester assessment task must be made by completing the in-semester special consideration form. The application form must be submitted to the Chief Examiner for consideration no later than two university working days after the due date. Guidelines: • You must comply with Q manual requirements in the presentation and referencing of your essay; plagiarism is prohibited. The Q manual is available at: http://www.buseco.monash.edu.au/qmanual/qmanual.pdf • Your assignment must include a signed cover sheet • Your assignment should be structured as follows: o title page o essay (including brief introduction, body, and brief conclusion; no subheadings are required) o reference list • The word count should be clearly noted on the title page; a penalty will be incurred if the word count is exceeded by more than 10% • The word count includes in-text citations but does not include the title page or reference list • When completing this assignment, you should refer to the marking criteria listed in the marking rubric on Moodle • You should reference the specific material(s) that have changed your thinking, and the accounting requirements (relevant accounting standard). Research beyond this is not required, however if you choose to research academic papers, this generally serves to enhance your understanding.
Answered Same Day Dec 26, 2021

Solution

David answered on Dec 26 2021
124 Votes
Running Head: REFLECTIVE WRITING TASK 1
Assignment Title
Student Name
Course Name
Instructor Name
Date
REFLECTIVE WRITING TASK 2
Introduction
Financial accounting an interesting subject and it has provided a better understanding of
how to prepare a financial statement in a true and fair manner. The learning from these subject
materials is significant that are more relevant to the profession. Consolidation is a crucial area
that provided a better understanding as for how to consolidate all the financial information in an
appropriate manner. The two units that are taken for the discussion are a consolidation of non-
controlling interest and equity accounting. The perception and level of knowledge before
learning this unit materials were entirely different from what is being learned from them. These
materials made to understand the crucial variables that should be considered at the time of
consolidation to prepare an effective and efficient financial report. Learning for these two units
of greater significance for the future financial accounting career.
Body
Merger and acquisition are common in every business, but consolidation becomes a great
challenge. Before reading the materials related to the consolidation of non-controlling interest
and equity accounting the perception was that the company would consolidate a company only if
they have 100% ownership or they are wholly owned subsidiary. If a company does not wholly
own a company, then they will not consolidate them. Before reading these chapters, their
materials there was no idea whether a company should disclose them or not in their financial
statement. But both these...
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