MAA363 T2 2018 Assignment Question 2 (Insturctions)
XXXXXXXXXXDeakin's Bachelor of Commerce and MBA are internationally EPAS accredited.
Deakin Business School is accredited by AACSB.
MAA 363 Corporate Accounting
Trimester 2, 2018
Written Assessment – Question Two
DUE DATE AND TIME: Monday 27 August, 2018 before 11.59 pm (AEST)
PERCENTAGE OF FINAL GRADE: 7%
DROPBOX OPEN: Monday 20 August, 2018, 9.00 am
DROPBOX CLOSE: Monday 3 September, 2018, 5.00 pm
SUBMISSION: ONLINE only to Dropbox – no hard copy to be submitted.
MARK IN GRADES: Monday 10 September, 2018 after 5.00 pm
Threshold Learning Standards (TSL)
TLSs are the minimum accounting discipline national standards graduates are expected to meet or
exceed upon graduation. This assessment item provides students with the opportunity to develop
and evidence the following TLSs that are aligned to the Deakin graduate learning outcomes (DGLO)
and more importantly the Unit learning outcomes (ULO):
TLS Description Graduate Learning Outcome
(GLO)
TLS01
(ULO1,
2 & 4)
Discipline-
specific
knowledge
Discipline-specific knowledge and
capabilities: appropriate level of
discipline-specific knowledge
GLO 1 – Discipline-specific
knowledge
TLS05
(ULO1,
2 & 4)
Problem
solving
Problem Solving: creating solutions
to authentic (real and
ill-defined) problems
GLO 5 – Problem solving
Refer to the marking ru
ic for details of how to evidence these TLS in your assessment submission.
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Assignment Instructions:
This assignment relates to Topic 4 on Income Tax and requires the following to be submitted:
An excel workbook with the following four (4) sheets:
• Sheet 1: Background Information
• Sheet 2: Calculating Taxable Income
• Sheet 3: Calculating DTA/DTL 2018
• Sheet 4: Change in Tax Rate
Before you start the assignment, you must enter your student ID on the background information
sheet (Sheet 1; Cell B2) as each student will be given a different set of values depending on their
unique student ID as the following:
Student ID
Input student ID here
Failure to do so will result in zero marks. You must use the excel workbook provided in answering
and submitting your answers. Other formats will not be accepted.
Required:
a) Calculate the taxable income/tax loss and the cu
ent tax liability (if any) for the financial
year ended 30th June 2018. Prepare a journal entry to recognise the cu
ent tax liability/tax
loss (In Sheet 2: Calculating Taxable Income).
) Calculate defe
ed tax asset and defe
ed tax liability balances as at 30th June 2018. Prepare
the defe
ed tax journal entries for the year ended 30th June 2018. Note that you are NOT
equired to prepare journals to offset the defe
ed tax asset and defe
ed tax liability
alances (In Sheet 3: Calculating DTA/DTL 2018).
c) Assume that by 1 December 2018 there was a change in tax rate from 30% to 27.5%.
Discuss the accounting treatment under accounting standard, AASB112 Income Taxes for
the defe
ed tax asset and defe
ed tax liability balances as at 1 December 2018 given that
the company may now be in a lower tax threshold for the XXXXXXXXXXfinancial year. Should
you believe an accounting change is necessary, prepare the journal entries to record the
effect of change in tax rate. (In Sheet 4: Change in Tax Rate).
XXXXXXXXXX = 16 marks) Converted to 7%
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Assessment Feedback:
Students who submit their work by the due date will receive their marks and feedback on
CloudDeakin on Monday 10 September, 2018 after 5.00 pm
Assignment Requirements
1. Please monitor CloudDeakin for any instructions/announcements.
2. This is an Individual assignment (there is no group option).
3. Each question must be completed on the individual excel workbook provided. The excel
workbook is located in the ‘Assessment Resources’ module, with this assignment.
4. You will need to have completed Topic 4 Income Tax to complete this assignment.
5. If you choose not to submit this question you will score zero – the marks cannot be added to
the final examination result.
6. NOTE: The submission Due Date is Monday 27 August, 2018 before 11.59 pm (AEST). The
Dropbox will remain open for late submissions. A penalty of 5% of total marks per day will be
applied. Late submissions after 5 days will not be marked as per Faculty’s Policy.
7. Submit/upload your assignment to the relevant Assignment Dropbox under the Assessments
tab.
Submission Instructions
Click the name of the Assignment folder that you want to submit an assignment to.
Carefully read the instructions relating to the assignment criteria and submission.
Click Add a File.
Note: You can upload a maximum of 250 MB file.
Submit items from your computer / local disk.
Add a comment if required.
Click Submit.
You will receive confirmation that your file submission was successful.
You must keep a backup copy of every assignment you submit, until the marked assignment has
een returned to you. In the unlikely event that one of your assignments is misplaced, you will
need to submit your backup copy.
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Any work you submit may be checked by electronic or other means for the purposes of detecting
collusion and/or plagiarism.
When you are required to submit an assignment through your CloudDeakin unit site, you will
eceive an email to your Deakin email address confirming that it has been submitted. You should
check that you can see your assignment in the Submissions view of the Assignment dropbox folder
after upload, and check for, and keep, the email receipt for the submission.
Notes
• Penalties for late submission: The following marking penalties will apply if you submit an
assessment task after the due date without an approved extension: 5% will be deducted
from available marks for each day up to five days, and work that is submitted more than
five days after the due date will not be marked. You will receive 0% for the task. 'Day' means
working day for paper submissions and calendar day for electronic submissions. The Unit
Chair may refuse to accept a late submission where it is unreasonable or impracticable to
assess the task after the due date.
• For more information about academic misconduct, special consideration, extensions, and
assessment feedback, please refer to the document Your rights and responsibilities as a
student in this Unit in the first folder next to the Unit Guide of the Resources area in the
CloudDeakin unit site
PLEASE USE THE EXCEL WORKBOOK IN ANSWERING AND SUBMITTING YOUR ANSWER.