Word limit - 2500 words ±500 words. Due Date - Assignment submission: Final Submission of individual Assignment Late submission incurs penalties of five (5) % of the assessment value per calendar day unless an extension and/or special consideration has been granted by the lecturer prior to the assessment deadline. Submission Guidelines - All work must be submitted on Blackboard by the due date along with a completed Assignment Cover Page. The assignment must be in MS Word format, no spacing, 12-pt Arial font and 2 cm margins on all four sides of your page with appropriate section headings and page numbers. Reference sources must be cited in the text of the report, and listed appropriately at the end in a reference list using Harvard referencing style.

Marking criteria - Abstract 1%, List of content & overall presentation of the assignment 1%, Introduction 1%, What items have been recorded under owners’ equity section? Clearly explain your understanding of each item recorded under the owner equity section 2%, Explain the movement over the three years period in each item recorded under the owner equity section with the reason 1%, What items have been recorded under liabilities section? Clearly explain your understanding of each item 2%, Explain the movement over the three years period in each item recorded under liabilities section with reason 1%, Briefly explain the relative advantages or disadvantages of each sources of fund each of your selected companies is using 2%, Do your own research and critically examine the concepts of small proprietary company, large proprietary company and reporting entity. What are the implications of being classified as either one of these three types of companies in terms of compliance and reporting requirements 7%, Conclusion 1% and References 1%.

Marking Rubric - The items recorded under the equity section have been correctly identified. Demonstrates an excellent understanding of each item recorded under the equity section. Has clearly identified the movement in each items listed under owner equity with detailed explanation of the reason for the movement. The items recorded under the liability section have been correctly identified. Demonstrates an excellent understanding of each item recorded under the section.

Demonstrate a clear understanding of the movements over the last three years of all items recorded under liabilities with reasons for the movements. The advantages and disadvantages of each of the internal sources of fund and external sources of funds used by the company have been identified and explained clearly. The three concepts have been explained in detail. The implications of being classified as either one of these three types of companies have been explained in detail in terms of compliance with accounting standards, reporting and disclosures requirement, and auditing.