ACC202 Financial Reporting
Semester 2, 2018
Financial Reporting Assignment
The assessment has three separate parts/questions. You need to provide an answer
to all three parts. The parts are:
a) Review a set of Financial Statements of your choice, annotating them for their
compliance with financial reporting requirements;
) Provide a 500 word report on the quality and completeness of the chosen
Financial Statements;
c) Provide answers to two Challenging Questions from the textbook as specified
elow.
This assignment contributes 25% to your final mark for ACC202.
Part a) will be worth 8%, part b) worth 5% and part c) worth 12%.
Below are more details on each part.
The assessment is due Sunday 11th November 2018, before midnight. You submit
via Moodle (and Turnitin), and you must submit a file (xlsx, docx, pdf, etc.) for each
part separately.
Part A
Each student can select a set of General Purpose Financial Statements to suit their
own interests. This might be a listed ASX company, a charity or government entity.
These are available from various public sources (ask if you need help finding one).
The reports can be for either Tier 1 or Tier 2 reporter as per AASB1053, but should
not be Special Purpose Financial Statements.
Using the AASB accounting standards and the “2017 Value Accounts” by PWC, you
are to annotate at least 15 items in the financial statements, identifying the
equirement or source of the authority (why the item is being reported) and
whether the disclosure complies with those requirements. Better student
esponses will cite multiple standards. In this part focus on what is being presented
and why, rather than what is not being disclosed.
Annotations may be in the form of linked comments in a word document or PDF.
Part B
Provide a report on the quality and completeness of the Financial Statements
chosen in part a). Length guide is 500 words. Provide an outline of any
information that seems to be missing from the report or poorly disclosed in the
statements or the notes.
Part C
You must provide an answer for:
i. Chapter 11 Challenging Question 31,
do requirements a to c (but not d),
plus “Show how this lease would be disclosed in the Financial
Statements of Hopeful Ltd for 30th June 2020”.
ii. Chapter 18 Challenging Question 25,
do requirements a to d,
plus “Show the tax disclosures for E-Surfboards Ltd in its Financial
Statements on 30th June 2019”.