Compare the 2015 and 2016 annual reports

Assignment Help Cost Accounting
Reference no: EM131634330 , Length: word count:2000

Topic: The Role of the Continuous Disclosure Framework

Disclosing entities are regulated by the Corporations Act (2001), Accounting Standards and ASX requirements. The continuous disclosure requirements in ASX LR 3.1 require timely reporting to the ASX of significant events and financial information that is likely to impact the price of the entity's securities. ASX LR 3.1 contains an overriding general requirement to disclose information that a reasonable person would expect to have a material effect on price, however the rule includes the following exceptions:
- It would breach the law to disclose information
- The information relates to an incomplete proposal or negotiation
- The information comprises matters of supposition or is insufficiently definite to warrant disclosure
- Information is generated for internal management of the company
- Information is a trade secret
- A reasonable person would not expect the information to be disclosed
- The information is confidential and ASX has not formed a view that has ceased to be confidential.

Immediate notification to the ASX is required when particular instances occur (these are listed in LR 3.1) and includes:
- The fact that the entity's earnings will be materially different from market expectations.

Part I(guide 500 words)

Using the consolidated financial statements of Surfstitch Ltd, comparing the 2015 and 2016 Annual Reports comment on:

1. The recent financial predicament facing Surfstitch Ltd (1 paragraph).
2. The 2015 Goodwill, The Investment in Subsidiary, the cash position and
3. The 2016 Profit and Loss Statement with particular reference to Impairment Costs, Selling & Distribution and Administrative Expenses.
4. Based on your analysis, and BEFORE knowledge of the recent share price decline and share trading halt, would you have recommended to your clients to buy, hold or sell Surfstitch shares? Why?

Part II(guide 1500 words)

After reading the attached documents, newspaper articles and research papers, answer the following question:

Why is it necessary to have a continuous reporting regime for disclosure entities and is it effective?

Do you agree? Why or why not?

Note, there is not one correct answer to this question. You will need to commence your research using the above three articles, and then supplement that with your own research. Check the marking scheme for further guidance.

Required:
You are to form into groups of two for the submission of this assignment. Assignments undertaken by an individual (1) student will not be accepted for marking.

Reference no: EM131634330

Questions Cloud

What about the claim is significant for us : Considering the author's arguments on their own terms, what seems most curious or problematic about the way the author makes or uses the claim?
How and where imagery from the sistine chapel appears : Consider how and where imagery from the Sistine Chapel appears in present-day culture. How has some of the imagery in the chapel become pop-culture icons?
Make a graph of the production function : Increasing returns and imperfect competition: Suppose a new piece of computer software - say a word processor with perfect speech recognition.
Type of alcoholic beverage favored : Give the sample space S and the probability model for the random event "type of alcoholic beverage favored."
Compare the 2015 and 2016 annual reports : BAO2203 - Corporate Accounting - The Role of the Continuous Disclosure Framework - Why is it necessary to have a continuous reporting regime
What happens if the novel is sold at marginal cost : Suppose a friend of yours decides to write a novel. Explain how ideas and objects are involved in this process.
Give two example where delegation is used in the legislative : Define delegation as it relates to how groups achieve collective action. Give 2 examples where delegation is used in the legislative, executive.
Explain the specific problems and needs : Explain the specific problems and needs in this situation and describe at least one Just-in-Time training solution that might fulfill those needs.
How can passage from the bible be useful in everyday life : How can this passage from the Bible be useful in everyday life? Are there any reasons why this passage would not be useful in a person's everyday life?

Reviews

len1634330

9/9/2017 1:53:45 AM

Student No: Name: Assessment Criteria and Assignment Structure Assessment Structure (marks) Marks Excellent Very Good Good Average Marginal Poor Very Poor Part I(15 marks) 1. Questions 1 (3 marks) 2. Question 2 (3 marks) 3. Question 3(3 marks) 4. Question 4 (6 marks) Part II(25 marks) 1. Research question: report format; abstract, intro, literature review and conclusion(16 marks) 2. English expression, coherence, grammar and spelling (5 marks) 3. Evidence of the group work-meeting logs (4 marks) TOTAL

len1634330

9/9/2017 1:53:23 AM

• You cannot withdraw an assignment from Turnitin after the due date). • Late submission without extension approval from the Unit Coordinators and local lecturers will be penalised 2 (out of 20) marks per day. Do not submit any assessable task by slipping it under the door of your lecturer’s or tutor’s office. • No Extension will be granted unless supported by appropriate documentation prior to the due date. An application for an extension must be in writing and must usethe appropriate form

len1634330

9/9/2017 1:53:14 AM

• Where a group member is not cooperating or contributing to the group and the team has made all efforts to resolve the issue, the team must inform the tutor and unit coordinator/s immediately via email. Where a group does not report this matter immediately, it will not be entertained later on, especially before the due date of the assignment. The defaulting member will be given a warning and should the member continue to default, the group will continue without the defaulting member and the defaulting member will receive zero for the task. Referencing and style • Assignment must be typed using Word document and double-spacedand Times New Roman with 12 font size • The required referencing style is Harvard (Please visit VU library for examples of Harvard Referencing Style at http://guides.library.vu.edu.au/Harvard). Essays not using the required referencing style or not showing in-text and end of text references will be returned unmarked. • Only one member must submit their assignment through Turnitin and attachthe Turnitin submission report with your assignment. Your assignment will not be marked without a Turnitin submission report.

len1634330

9/9/2017 1:53:07 AM

• It is YOUR responsibility to form teams, thus swapping contact details and arranging regular progress meetings is essential. Remember, once a team is formed, it is up to you and your fellow team members to maintain team discipline.All group members are equally responsible for the submission of the assignment. • Students must meet at least once every fortnight. Meeting records must be attached at the end of your report. Marks will be allocated for your meeting logs. A suggested meeting log is attached.

len1634330

9/9/2017 1:52:59 AM

Approximate word Length:2000 words (marks will be deducted for assignments exceeding 2100 words excluding the reference list). Marking: This assignment is worth 20% and will be scored out of 40 marks. The assignment is a TEAM assignment and therefore scores will be applied to all members of a team without distinction. You have to submit TWO copies of your report: • Only single copy should be submitted to Turnitin via a link on VU Collaborate. The report should be submitted ONLY by one team member or team leader. • The second (hard copy) of the report should be submitted to yourlecturer. Penalty for late assignments: 2 marks per workingday (weekday) and no mark will be awarded after five days.

Write a Review

Cost Accounting Questions & Answers

  Interpret the changes over the two-year period

Keeping the case analysis in mind, discuss and interpret the changes over the two-year period. Which company is the best performer and why?

  What tax issues should troy and the employees consider

Troy Department Stores offers employees discounts on merchandise carried in the store. Newly hired employees receive a 10% discount. The discount rate increases 1% each year until employees have 20 years of service.

  Total overhead allocated to each job under a simple costing

Compute the total overhead allocated to each job under a simple costing system, where overhead is allocated based on machine-hours and compute the total overhead allocated to each job under an activity-based costing system using the appropriate ac..

  What are benefits of abc that relate to financial services

What are some of the benefits of ABC that relate to the financial services industry? What are three things that the company's original costing method did not take into account?

  Compute service revenue and operating expenses

Compute service revenue and operating expenses - Side Kicks has year-end account balances of Sales Revenue $808,900; Interest Revenue $13,500;

  Calculate the breakeven point in patient days

Develop a template of costs. You should separate expenses into variable and fixed expenses. The SMH data file contains a template to provide some guidance and calculate the breakeven point in patient days.

  Calculate the present values of the cash flows

For each of the itineraries, calculate the present values of the cash flows using required rates of return of both 10% and 15% Assume a 15 -year time horizon. Should the company purchase the ship with either or both required rates of return..

  Prepare journal entry to record transfer of finished goods

Prepare the journal entry to record the transfer of finished goods from the Blending Department to the Bottling Department and post to the appropriate T-accounts prepared in requirement 2 above.

  Calculate the number of units that need to be sold

Assume that Current Designs plans to earn $270,600 on this product line. Using the contribution margin per unit, calculate the number of units that need to be sold to achieve this goal.

  Proportion to the time devoted to the business

The ratio of their initial capital investments, which they have agreed will be $32,000 for Baker and $48,000 for Farney -  proportion to the time devoted to the business;

  Determine the cost of goods sold for the year

Determine amount of cost that should be assigned to the ending work in process and finished goods inventories. Determine the cost of goods sold for the year, assuming that there is no underapplied or overapplied overhead.

  What are the total cost of work in process

What are the total cost of work in process and the cost of goods manufactured? In what order should manufacturing inventories be listed in a balance sheet?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd