HI5020 Corporate Accounting Individual Assignment T3 2020

Assignment Specifications Purpose:

The first part of this assignment aims at developing a clear understanding of students on what skills, knowledge and experiences employers seek from Corporate Accountants and link the learnings objectives, outcomes and contents of the subject with the skills, knowledge and experiences sought by employers.

The second part of the assignment aims at developing a clear understanding of students on different equity, liability, and comprehensive income items reported by companies/ corporate groups.

Assessment task:

Part A

Collect AT LEAST 20 job advertisements on the position of ‘corporate accountant’, ‘corporate and management accountant’ ‘senior accountant’, ‘tax accountant’, ‘corporate financial accountant’ ‘corporate financial and management accountant’, ‘accountant corporate finance’, ‘senior financial accountant’ ‘senior accountant: tax and corporate reporting’ or any other similar positions published by Australian employers in electronic or print media or in job search portals (such as seek, Jora, Indeed etc.) from the first week of the Trimester to the week 8 of the Trimester.

Based on your collected advertisements, do the following tasks:

1.       Listallthepersonalattributesrequiredfromacorporateaccountantthathavebeenmentionedinthe jobadvertisementsthatyouhavecollectedwithyourdetailedunderstandingofeachoftheattributes.

2.       List all the key roles, tasks, responsibilities of a corporate accountant that have been listed in the advertisements that you have collected andanalysed.

3.       Based on the key roles, tasks, responsibilities identified from your collected job advertisements, how those key roles, tasks or responsibilities are related to the topics that you have learned in your MPA unit HI5020 CorporateAccounting.

4.       What additional topics, attributes or learnings outcomes are missing from your MPA unit HI5020 Corporate Accounting that are listed on the jobadvertisement.

5.       Critically examine the skills, experience and attributes needed to become a corporate accountant. Also, critically evaluate how the topics that you have learned in your MPA unit HI5020 Corporate Accounting have helped you in gaining the skills, knowledge, experience and attributes needed to become a corporateaccountant.

Part B

Select1(One)publiclimitedcompanylistedontheAustralianSecuritiesExchange(ASX)thatareinthesame industry. The company must have subsidiary companies and must have prepared consolidated financial statements.Downloadthelatestannualreportsconsecutivelyforlasttwoyearsofthecompanythatyouhave selected.Donotuseyourcompany’sinterimfinancialstatementsortheirconcisefinancialstatements.Please readthefinancialstatements(balancesheet,incomestatement,statementofchangesinowner’sequity)very carefully. Also, please read the relevant footnotes of your company’s financial statements carefully and include information from these footnotes in youranswer.

You need to do the following tasks:

EQUITY & LIABILITY

6.       From your company’s financial statements, list each item of equity reported and write your understanding of each item. Discuss any changes in each item of equity for your company over last two years articulating the reasons for thechange.

7.       From your company’s financial statements, list each item of liability reported and write your understanding of each item. Discuss any changes in each item of liability for your company over last two years articulating the reasons for thechange.

OTHER COMPREHENSIVE INCOME STATEMENT

8.       What items have been reported in the other comprehensive income statement for eachyear?

9.       Why have these items not been reported in Income Statement/Profit and LossStatements?

10.   Provide a comparative analysis of the items shown in the other comprehensive income statement section for the two years. If these items were included in the income statement / profit and loss statements of each year, how would the profit attributable to shareholders of the company be affected?

11.   Should other comprehensive income be included in evaluating the performance of managers of the company?