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ACCT20074 Final Assignment Term 1, 2018 Student ID:………………………………. Student name…………………………………………………….. Marker’s overall comments: The markers may include any final comments here. Overall Mark (Total) out...

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ACCT20074 Final Assignment
Term 1, 2018
Student ID:………………………………. Student name……………………………………………………..
    Marker’s overall comments:
    The markers may include any final comments here.
    Overall Mark (Total) out of 50:
    0
    Question 1: Use Classical Political Economy Theory to explain JB Hi-Fi’s decision to release its profit downgrade in the way it did. Make sure you explain what Institutional Theory is, and support your observations with evidence from the case study.
    Answer: Your answer is written here.
    References:
Insert your references here, for example:
Deegan, C. M XXXXXXXXXXFinancial Accounting Theory (4 ed.). North Ryde, NSW.: McGraw Hill Education (Australia) Pty Ltd.
    Marker’s Comments: The marker will provide feedback here.
    Mark (10):
    
    0
    Exceeds Expectations
(High Distinction XXXXXXXXXX%
    Exceeds Expectations (Distinction XXXXXXXXXX%
    Meets Expectations
(Credit) 65 – 74%
    Meets Expectations
(Pass) 50 – 64%
    Below Expectations
(Fail) below 50%
    Demonstrates a balanced and very high level of detailed knowledge of core concepts by providing a very high level of analysis. Utilises cu
ent, appropriate and credible sources.
    Demonstrates a balanced and high level of knowledge of core concepts by providing a high level of analysis. Utilises mostly cu
ent, appropriate and credible sources.
    Demonstrates a good level of knowledge of some of the core concepts by providing some level of analysis. Utilises some cu
ent, appropriate and credible sources.
    Demonstrates limited knowledge of core concepts by providing a limited level of analysis. Utilises few cu
ent, appropriate and credible sources.
    Demonstrates little, if any, knowledge of the core concepts with extremely limited, if any, analysis. Utilises little, if any, cu
ent, appropriate and credible sources.
    Quality of writing at a very high standard. Paragraphs are coherently connected to each other. Co
ect grammar, spelling and punctuation.
    Quality of writing is of a high standard. Paragraphs are mostly well structured. Few grammar, spelling and punctuation mistakes.
    Quality of writing is of a good standard. Few grammar, spelling and punctuation mistakes.
    Some problems with sentence structure and presentation Frequent grammar, punctuation and spelling mistakes. Use of inappropriate language.
    Quality of writing is at a very poor standard so barely understandable. Many spelling mistakes. Little or no evidence of proof reading.
    The assessment presents a detailed and focused summary of the ideas presented; drawing clear and well thought-out conclusions.
    The assessment presents a fairly detailed and focused summary of the ideas presented; drawing fairly clear and well thought-out conclusions.
    The assessment presents a somewhat detailed and focused summary of the ideas presented; providing some evidence of conclusions.
    The assessment provides limited detail with no clear summary of the ideas presented; drawing limited conclusions.
    The assessment fails to provide any clear evidence of the ideas presented; drawing no clear conclusions.
    Question 2: Use the Managerial
anch of Stakeholder Theory to explain JB Hi-Fi’s reporting decisions. Make sure you support your observations with evidence from the case study.
    Answer: Your answer is written here.
    References:
Insert your references here, for example:
Deegan, C. M XXXXXXXXXXFinancial Accounting Theory (4 ed.). North Ryde, NSW.: McGraw Hill Education (Australia) Pty Ltd.
    Marker’s Comments: The marker will provide feedback here.
    Mark (10):
    
    0
    Exceeds Expectations
(High Distinction XXXXXXXXXX%
    Exceeds Expectations (Distinction XXXXXXXXXX%
    Meets Expectations
(Credit) 65 – 74%
    Meets Expectations
(Pass) 50 – 64%
    Below Expectations
(Fail) below 50%
    Demonstrates a balanced and very high level of detailed knowledge of core concepts by providing a very high level of analysis. Utilises cu
ent, appropriate and credible sources.
    Demonstrates a balanced and high level of knowledge of core concepts by providing a high level of analysis. Utilises mostly cu
ent, appropriate and credible sources.
    Demonstrates a good level of knowledge of some of the core concepts by providing some level of analysis. Utilises some cu
ent, appropriate and credible sources.
    Demonstrates limited knowledge of core concepts by providing a limited level of analysis. Utilises few cu
ent, appropriate and credible sources.
    Demonstrates little, if any, knowledge of the core concepts with extremely limited, if any, analysis. Utilises little, if any, cu
ent, appropriate and credible sources.
    Quality of writing at a very high standard. Paragraphs are coherently connected to each other. Co
ect grammar, spelling and punctuation.
    Quality of writing is of a high standard. Paragraphs are mostly well structured. Few grammar, spelling and punctuation mistakes.
    Quality of writing is of a good standard. Few grammar, spelling and punctuation mistakes.
    Some problems with sentence structure and presentation Frequent grammar, punctuation and spelling mistakes. Use of inappropriate language.
    Quality of writing is at a very poor standard so barely understandable. Many spelling mistakes. Little or no evidence of proof reading.
    The assessment presents a detailed and focused summary of the ideas presented; drawing clear and well thought-out conclusions.
    The assessment presents a fairly detailed and focused summary of the ideas presented; drawing fairly clear and well thought-out conclusions.
    The assessment presents a somewhat detailed and focused summary of the ideas presented; providing some evidence of conclusions.
    The assessment provides limited detail with no clear summary of the ideas presented; drawing limited conclusions.
    The assessment fails to provide any clear evidence of the ideas presented; drawing no clear conclusions.
    Question 3: To what extent do cu
ent share prices anticipate future earnings announcements? Use the case study to support your answer.
    Answer: Your answer is written here.
    References:
Insert your references here, for example:
Deegan, C. M XXXXXXXXXXFinancial Accounting Theory (4 ed.). North Ryde, NSW.: McGraw Hill Education (Australia) Pty Ltd.
    Marker’s Comments: The marker will provide feedback here.
    Mark (10):
    
    0
    Exceeds Expectations
(High Distinction XXXXXXXXXX%
    Exceeds Expectations (Distinction XXXXXXXXXX%
    Meets Expectations
(Credit) 65 – 74%
    Meets Expectations
(Pass) 50 – 64%
    Below Expectations
(Fail) below 50%
    Demonstrates a balanced and very high level of detailed knowledge of core concepts by providing a very high level of analysis. Utilises cu
ent, appropriate and credible sources.
    Demonstrates a balanced and high level of knowledge of core concepts by providing a high level of analysis. Utilises mostly cu
ent, appropriate and credible sources.
    Demonstrates a good level of knowledge of some of the core concepts by providing some level of analysis. Utilises some cu
ent, appropriate and credible sources.
    Demonstrates limited knowledge of core concepts by providing a limited level of analysis. Utilises few cu
ent, appropriate and credible sources.
    Demonstrates little, if any, knowledge of the core concepts with extremely limited, if any, analysis. Utilises little, if any, cu
ent, appropriate and credible sources.
    Quality of writing at a very high standard. Paragraphs are coherently connected to each other. Co
ect grammar, spelling and punctuation.
    Quality of writing is of a high standard. Paragraphs are mostly well structured. Few grammar, spelling and punctuation mistakes.
    Quality of writing is of a good standard. Few grammar, spelling and punctuation mistakes.
    Some problems with sentence structure and presentation Frequent grammar, punctuation and spelling mistakes. Use of inappropriate language.
    Quality of writing is at a very poor standard so barely understandable. Many spelling mistakes. Little or no evidence of proof reading.
    The assessment presents a detailed and focused summary of the ideas presented; drawing clear and well thought-out conclusions.
    The assessment presents a fairly detailed and focused summary of the ideas presented; drawing fairly clear and well thought-out conclusions.
    The assessment presents a somewhat detailed and focused summary of the ideas presented; providing some evidence of conclusions.
    The assessment provides limited detail with no clear summary of the ideas presented; drawing limited conclusions.
    The assessment fails to provide any clear evidence of the ideas presented; drawing no clear conclusions.
    Question 4: Show how the Brunswik Lens Model might be used to explain an investor's decision about whether to buy or sell shares in JB Hi-Fi following their downgrade “announcement”.
    Answer: Your answer is written here.
    References:
Insert your references here, for example:
Deegan, C. M XXXXXXXXXXFinancial Accounting Theory (4 ed.). North Ryde, NSW.: McGraw Hill Education (Australia) Pty Ltd.
    Marker’s Comments: The marker will provide feedback here.
    Mark (10):
    
    0
    Exceeds Expectations
(High Distinction XXXXXXXXXX%
    Exceeds Expectations (Distinction XXXXXXXXXX%
    Meets Expectations
(Credit) 65 – 74%
    Meets Expectations
(Pass) 50 – 64%
    Below Expectations
(Fail) below 50%
    Demonstrates a balanced and very high level of detailed knowledge of core concepts by providing a very high level of analysis. Utilises cu
ent, appropriate and credible sources.
    Demonstrates a balanced and high level of knowledge of core concepts by providing a high level of analysis. Utilises mostly cu
ent, appropriate and credible sources.
    Demonstrates a good level of knowledge of some of the core concepts by providing some level of analysis. Utilises some cu
ent, appropriate and credible sources.
    Demonstrates limited knowledge of core concepts by providing a limited level of analysis. Utilises few cu
ent, appropriate and credible sources.
    Demonstrates little, if any, knowledge of the core concepts with extremely limited, if any, analysis. Utilises little, if any, cu
ent, appropriate and credible sources.
    Quality of writing at a very high standard. Paragraphs are coherently connected to each other. Co
ect grammar, spelling and punctuation.
    Quality of writing is of a high standard. Paragraphs are mostly well structured. Few grammar, spelling and punctuation mistakes.
    Quality of writing is of a good standard. Few grammar, spelling and punctuation mistakes.
    Some problems with sentence structure and presentation Frequent grammar, punctuation and spelling mistakes. Use of inappropriate language.
    Quality of writing is at a very poor standard so barely understandable. Many spelling mistakes. Little or no evidence of proof reading.
    The assessment presents a detailed and focused summary of the ideas presented; drawing clear and well thought-out conclusions.
    The assessment presents a fairly detailed and focused summary of the ideas presented; drawing fairly clear and well thought-out conclusions.
    The assessment presents a somewhat detailed and focused summary of the ideas presented; providing some evidence of conclusions.
    The assessment provides limited detail with no clear summary of the ideas presented; drawing limited conclusions.
    The assessment fails to provide any clear evidence of the ideas presented; drawing no clear conclusions.
    Question 5: Some academics have criticised the accounting profession for acting to legitimise the capitalist system (supposedly by supporting the “haves” against the “have nots”. Indicate whether the case study supports the critical view of accounting, or whether it doesn’t. Use the case study to support your answer.
    Answer: Your answer is written here.

    References:
Insert your references here, for example:
Deegan, C. M XXXXXXXXXXFinancial Accounting Theory (4 ed.). North Ryde, NSW.: McGraw Hill Education (Australia) Pty Ltd.
    Marker’s Comments: The marker will provide feedback here.
    Mark (10):
    
    0
    Exceeds Expectations
Answered Same Day May 29, 2020 ACCT20074 Central Queensland University

Solution

Arun answered on Jun 01 2020
117 Votes
ACCT20074 Final Assignment
Term 1, 2018
Student ID:………………………………. Student name……………………………………………………..
    Marker’s overall comments:
    The markers may include any final comments here.
    Overall Mark (Total) out of 50:
    0
    Question 1: Use Classical Political Economy Theory to explain JB Hi-Fi’sdecision to release its profit downgrade in the way it did. Make sure you explain what Institutional Theory is, and support your observations with evidence from the case study.
    Answer: Your answer is written here.
The political economy theory refers of political nature towards decision making and how politics shape the economic choices of a society. The society is here refe
ed as the social groups, firms and organizations. This politics here is to say about power and authority and it refers an individual ability to serve its own purpose. The question of power and authority is raised when they heterogeneity of interests take place amongst different stakeholders. Political economy is both positive and negative. Positive political economy takes into account of mitigation of political constraints but negative political economy does not consider these factors. Political economy also considers wealth factor that is an important aspect. Political economy initiates with the problem identification and heterogeneous agents. The political economy considers which policy needs to be adopted and what kind of policy choice should emerge from a particular political process. The negative connotations obtained from the political economy or political process of decision making is that it creates bias that is not a prefe
ed choice by the society and it is not an optimal process. The second and most important outcome is the economic policy is decided may abso
resources that leads to inefficient outcome for economy.
All these factors analysis suggested that JB hi-fi has practiced a decision under influence of political economy theory. The company has been punished by the investors when it revealed that due to unfavourable weather and intensified competition on the home appliances eaten its earning and therefore, the company till now has provided profit upgrades but it is a new thing for the investors to see downgrades. The political economy theory as is found biased to ignore certain stakeholders needs of the society, this is amply reflected by the practices of JB hi-fi when it did not offer a standalone report about the profit downgrade to investors but it was deep buried in the report. The conference organised called as Macquarie presentation did not offer concise and transparent report about the downgrade of profit. Therefore, the ASX asked to the company why it showed the information in sides than in the standalone market sensitive announcement. The response from the JB Hi-Fi Company was meagre 3 percent downgrade did not have material effect on the share price.
But the company was wrong as the share prices of the company plummeted.
The act of ASX suggests that it has practices institutional theory. The institutional theory is developed against the political economy and later other economies. The institutional theory considers reflecting the economic theory with the means of formal models, strict logic scheme and real life. The institutional theory takes into account of economic subsystem along with non-economic variables and all system of values. Therefore, the act of ASX reflects use of institutional theory because it takes into account of likely impact of price downgrade on investors and the market. Though, company tried to justify that 3 percent downgrade was not posing a significant threat for its share values but for public interests, ASX asked from the company to justify this action.
    References:
What is political economy?
http:
assets.press.princeton.edu/chapters/s6819.pdf
JB Hi-Fi rapped by ASX for burying earnings downgrade it Macquarie presentation.
https:
www.afr.com
usiness
etail/jb-hifi-rapped-by-asx-for-burying-earnings-downgrade-in-macquarie-presentation-20180507-h0zq08
Nureev Rustam, (2018). The evolution of institutional theory and its structure
http:
ustem-nureev.ru/wp-content/uploads/2011/01/254-a.pdf
    Marker’s Comments: The marker will provide feedback here.
    Mark (10):
    
    0
    Exceeds Expectations
(High Distinction) 85-100%
    Exceeds Expectations (Distinction) 75 - 84%
    Meets Expectations
(Credit) 65 – 74%
    Meets Expectations
(Pass) 50 – 64%
    Below Expectations
(Fail) below 50%
    Demonstrates a balanced and very high level of detailed knowledge of core concepts by providing a very high level of analysis. Utilises cu
ent, appropriate and credible sources.
    Demonstrates a balanced and high level of knowledge of core concepts by providing a high level of analysis. Utilises mostly cu
ent, appropriate and credible sources.
    Demonstrates a good level of knowledge of some of the core concepts by providing some level of analysis. Utilises some cu
ent, appropriate and credible sources.
    Demonstrates limited knowledge of core concepts by providing a limited level of analysis. Utilises few cu
ent, appropriate and credible sources.
    Demonstrates little, if any, knowledge of the core concepts with extremely limited, if any, analysis. Utilises little, if any, cu
ent, appropriate and credible sources.
    Quality of writing at a very high standard. Paragraphs are coherently connected to each other. Co
ect grammar, spelling and punctuation.
    Quality of writing is of a high standard. Paragraphs are mostly well structured. Few grammar, spelling and punctuation mistakes.
    Quality of writing is of a good standard. Few grammar, spelling and punctuation mistakes.
    Some problems with sentence structure and presentation Frequent grammar, punctuation and spelling mistakes. Use of inappropriate language.
    Quality of writing is at a very poor standard so barely understandable. Many spellingmistakes. Little or no evidence of proof reading.
    The assessment presents a detailed and focused summary of the ideas presented; drawing clear and well thought-out conclusions.
    The assessment presents a fairly detailed and focused summary of the ideas presented; drawing fairly clear and well thought-out conclusions.
    The assessment presents a somewhat detailed and focused summary of the ideas presented; providing some evidence of conclusions.
    The assessment provides limited detail with no clear summary of the ideas presented; drawing limited conclusions.
    The assessment fails to provide any clear evidence of the ideas presented; drawing no clear conclusions.
    Question 2: Use the Managerial
anch of Stakeholder Theory to explain JB Hi-Fi’s reporting decisions. Make sure you support your observations with evidence from the case study.
    Answer: Your answer is written here.
The managerial
anch of stakeholder theory is explained to understand the JB Hi-Fi reporting decision. The managerial stakeholder theory or positive
anch of stakeholder theory (Donaldson & Preston, 1995) suggests that an organization and the associated stakeholder to the organization are interdependent upon one another for use of resources. Therefore, managers are accountable to maintain this exchange relationship for very survival of organization. (Islam, 2009).
This theory takes into account of preferential and different treatment to stakeholders and assumes that those stakeholders who are dominant and powerful must be responded by the organization. (Deegen, & Blomquist, 2006). Many researchers have found that powerful stakeholders must be focused by the organization because their action may impact on the organization performance certainly (Unerman & o’Dwayer, 2006). The reason for this is offered by the Mitchell et al., (1997, 865) that a stakeholder power can be revealed when he or she compels other stakeholder to do something that the other stakeholder would not have done otherwise.
The case of the JB HI-FI reflects that the company does not practice the managerial stakeholder theory at this time. It has clearly ignored the interests of the stakeholders. The stakeholders are habituated to see the upgrade in profits for a long time and recent acquisition by the company has promised lots of potential. Therefore, the way the company announced the profit downgrade in the meeting, creates sufficient doubts in the minds of investors whether the company is making the false excuses for such profit downgrade. They should have been intimated with the standalone report about the profit downgrade that might have resulted more trust in the company operation. The company given excuse for poor weather and slackening demands but this information should have been furnished to the stakeholders and primarily the investors at regular intervals, but the company was provided this information at the meeting without any warning sign to investors that the profits might be downgraded.
This suggests that company does not address the needs and interests of its most powerful stakeholder the investors. Certainly the managers of the JB HI-FI kept the investors in dark and this resulted a sharp fall in shares prices of the company. The company lost its credibility regarding transparent operation and communication with...
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