Great Deal! Get Instant $10 FREE in Account on First Order + 10% Cashback on Every Order Order Now

Trainers Assessment Resource FNSACC XXXXXXXXXXVersion 2.1 April XXXXXXXXXXPage 1 of 4 ASSESSMENT 1 – RESEARCH REPORT STUDENT INFORMATION This information is to be handed to each student to outline the...

1 answer below »
Trainers Assessment Resource
FNSACC XXXXXXXXXXVersion 2.1 April XXXXXXXXXXPage 1 of 4
ASSESSMENT 1 – RESEARCH REPORT
STUDENT INFORMATION
This information is to be handed to each student to outline the assessment requirements

For this assessment, you are to research and review corporate governance requirements for a
company of their choice. The company must be chosen in consultation with your assessor. You
may base this task on your Training Organisation if no other companies are suitable. As a
minimum, it is important that you:
 Undertake a comprehensive review of corporate governance requirements applicable to
corporations, and determine their relevance to your chosen company
 Research and explain 8 corporate governance principles. You may refer to governance
principles written for ASX, however if your company is not ASX listed, you should
choose relevant standards to apply. Be sure to provide you reasons for choosing these
standards.
 Determine what practical applications these requirements have on the company
 Seek further information regarding practical application of corporate governance
equirements from relevant sources (these sources must be included in your report).
Further information may be sought from a variety of sources including, but not limited
to:
- ATO
- Professional associations
- Financial information systems
- ASIC
 Comprehensively review any internal control procedures your business has in place and
determine whether compliance with corporate governance requirements has been met.
If so, detail how. If not, suggest additional internal control policies to ensure
compliance.
This assignment should be submitted in the form of a detailed written report. You must utilise
sources as listed above for clarification, and these sources must be documented in your report.
Assessment Summary
You are to submit the following evidence / perform the following tasks
 Develop and submit your written report as outlined above



This assessment is due on: __________________________________




FNSACC XXXXXXXXXXVersion 2.1 April XXXXXXXXXXPage 2 of 4
ASSESSMENT 2: PROJECT
STUDENT INFORMATION
This information is to be handed to each student to outline the assessment requirements


Part 1: (1,000 words)
You are required to undertake a further review of the company chosen in Assignment 1.
Students are required to undertake the following:
 Review the following aspects of financial delegations and accountabilities within the
company and determine their compliance with internal control procedures
- Expenditure and / or investment approvals
- Corporate governance requirements
- Loan and lending approvals
- Sign off authorities
 Determine timeframes taken to complete and release reports such as operating and cash
flow statements
- Are these completed within agreed-upon timeframes?
- Do the deadlines comply with legislative requirements?

Once students have reviewed the relevant areas, they should write a 1,000 word report on their
findings. Students should focus on an area that either does not meet corporate governance
equirements, or can be improved for the next part of this assignment.

Part 2:
Students must next choose an area to write a new procedure that will meet corporate
governance requirements. Ideally, this should be within the context of financial reporting,
ecording of data, filing etc.
 Determine the need for a new procedure that could better meet corporate governance
equirements. If all requirements are already met, the students should consult with their
instructor to determine what area they should focus on.
 Liaison with instructor to determine timeframes and deadlines for implementation of
your new policy / procedure
 Consult with published sources such as the ASX to obtain a template for your
procedure.
 Create a detailed internal control procedure to meet the needs of corporate governance
as determined in Part 1
 The procedure must be in an appropriate format and documented / filed as necessary
 The procedure can be completely new in the case of non-compliance with corporate
governance, or can be a modification of an existing policy to improve internal control
measures.

Finally, students must write a 500 word report on the following:
 Discuss how the procedure can be monitored to ensure it is effective – i.e. any relevant
e
ors should be well documented by staff
 Comment on any variations of corporate governance requirements you have discovered,
and give reasons why these variations may exist

FNSACC XXXXXXXXXXVersion 2.1 April XXXXXXXXXXPage 3 of 4
Assessment Summary
You are to submit the following evidence / perform the following tasks
 Submit company review report
 Submit procedure developed
 Submit monitoring report"

This assessment is due on: __________________________________
FNSACC XXXXXXXXXXVersion 2.1 April XXXXXXXXXXPage 4 of 4
ASSESSMENT 3: PROJECT
STUDENT INFORMATION
This information is to be handed to each student to outline the assessment requirements

For this assessment, students are to write an 800 word report on the following:
 What is purpose of corporate governance recommendations?
 Discuss how corporate governance and compliance with these policies and
ecommendations promotes ethics in business and accounting
 Give specific examples relating to the company you have researched in Assessments 1 &
2

Students must also create a spreadsheet listing the following information:
 For each corporate governance recommendation, list exactly how the company has met
the recommendation
 If any recommendations are not met, then
iefly list in the cell what the company could
implement to ensure compliance.

Assessment Summary
You are to submit the following evidence / perform the following tasks
 Submit your 800 word report as outlined above
 Submit your spreadsheet as outlined above


This assessment is due on: __________________________________

Trainers Assessment Resource
FNSACC XXXXXXXXXXVersion 2.1 April XXXXXXXXXXPage 1 of 4
ASSESSMENT 1 – RESEARCH REPORT
STUDENT INFORMATION
This information is to be handed to each student to outline the assessment requirements

For this assessment, you are to research and review corporate governance requirements for a
company of their choice. The company must be chosen in consultation with your assessor. You
may base this task on your Training Organisation if no other companies are suitable. As a
minimum, it is important that you:
 Undertake a comprehensive review of corporate governance requirements applicable to
corporations, and determine their relevance to your chosen company
 Research and explain 8 corporate governance principles. You may refer to governance
principles written for ASX, however if your company is not ASX listed, you should
choose relevant standards to apply. Be sure to provide you reasons for choosing these
standards.
 Determine what practical applications these requirements have on the company
 Seek further information regarding practical application of corporate governance
equirements from relevant sources (these sources must be included in your report).
Further information may be sought from a variety of sources including, but not limited
to:
- ATO
- Professional associations
- Financial information systems
- ASIC
 Comprehensively review any internal control procedures your business has in place and
determine whether compliance with corporate governance requirements has been met.
If so, detail how. If not, suggest additional internal control policies to ensure
compliance.
This assignment should be submitted in the form of a detailed written report. You must utilise
sources as listed above for clarification, and these sources must be documented in your report.
Assessment Summary
You are to submit the following evidence / perform the following tasks
 Develop and submit your written report as outlined above



This assessment is due on: __________________________________




FNSACC XXXXXXXXXXVersion 2.1 April XXXXXXXXXXPage 2 of 4
ASSESSMENT 2: PROJECT
STUDENT INFORMATION
This information is to be handed to each student to outline the assessment requirements


Part 1: (1,000 words)
You are required to undertake a further review of the company chosen in Assignment 1.
Students are required to undertake the following:
 Review the following aspects of financial delegations and accountabilities within the
company and determine their compliance with internal control procedures
- Expenditure and / or investment approvals
- Corporate governance requirements
- Loan and lending approvals
- Sign off authorities
 Determine timeframes taken to complete and release reports such as operating and cash
flow statements
- Are these completed within agreed-upon timeframes?
- Do the deadlines comply with legislative requirements?

Once students have reviewed the relevant areas, they should write a 1,000 word report on their
findings. Students should focus on an area that either does not meet corporate governance
equirements, or can be improved for the next part of this assignment.

Part 2:
Students must next choose an area to write a new procedure that will meet corporate
governance requirements. Ideally, this should be within the context of financial reporting,
ecording of data, filing etc.
 Determine the need for a new procedure that could better meet corporate governance
equirements. If all requirements are already met, the students should consult with their
instructor to determine what area they should focus on.
 Liaison with instructor to determine timeframes and deadlines for implementation of
your new policy / procedure
 Consult with published sources such as the ASX to obtain a template for your
procedure.
 Create a detailed internal control procedure to meet the needs of corporate governance
as determined in Part 1
 The procedure must be in an appropriate format and documented / filed as necessary
 The procedure can be completely new in the case of non-compliance with corporate
governance, or can be a modification of an existing policy to improve internal control
measures.

Finally, students must write a 500 word report on the following:
 Discuss how the procedure can be monitored to ensure it is effective – i
Answered Same Day Jul 10, 2021 FNSACC516 Training.Gov.Au

Solution

Tanmoy answered on Jul 15 2021
130 Votes
Goodman
Assessment 3: Project Student Information
The purpose of corporate governance recommendations
The corporate governance recommendations of Goodman are as follows:
1. It lays a firm base for the administration and supervision: The functions of the board of directors are to supervise the financial statement gives a true and fair view and are in accordance with the Corporation Act 2001 and Australian Accounting Standards; Establish internal control so that the financial statement is free from frauds, material misstatement and e
ors etc. and assessment of the Goodman Group of Trusts and its ability to continue as a going concern is appropriately accounted. The responsibilities of the senior managers are consultancy and delegation of tasks to their subordinates. The assessment of the senior managers of Goodman is based on their annual performance of meeting various set targets.
2. It helps to structure the board to add value: There are 8 independent directors of Goodman. The chairman Ian Fe
ier AM is also an independent director. Greg Goodman is the Chief executive officer of the company. There is a nomination committee established by Goodman and it is headed by Ian Fe
ier AM. This committee also looks into the skills and characteristics required by the board. It also looks into the remuneration process of the company. The remuneration strategies for them are based on achievement of targets. It also depends on meeting the behavioural expectations and achieving operating EPS. Rewards are given to the directors, senior executives and staffs on achieving the set targets.
3. Safeguarding the integrity in financial reporting: There is an audit committee established by the board of Goodman which supervises, analyzes and monitors the taxation policies and manages the financial risk of the company. There are 5 members in the audit committee of Goodman all of whom are independent directors and nonexecutive directors and is headed by the Independent chairman Ian Fe
ier AM. The audit committee of Goodman have a formal charter for managing the financial risk. The financial risk is approved by the board; the liquidity, cash flow management and gearing reports are reviewed and reported to the board on a monthly basis; it help to decide on the diversification of debt funding sources and maturities and choosing the investment partners; it helps to decide the payout ratio which is consistent with the increasing development workbook.
4. Initiating timely and balanced disclosure: The Goodman group discloses operating profits based on statutory profits which are in accordance with the Australian Accounting...
SOLUTION.PDF

Answer To This Question Is Available To Download

Related Questions & Answers