INSTRUCTIONS FOR AF210 GROUP ASSIGNMENT SI 2021

This Assignment will be undertaken in groups.

Course Code AF210 (F2F & Blended Mode)

Course Name Financial Accounting

Semester I, 2021

Weight 10% of overall course mark

Due Date Online submission (Moodle drop box) by 11.55pm Friday 21st May 2021 (Fiji
time). Hard copy submission in SAFE office by 4.00pm Friday 21st May 2021.
For softcopy you will submit two files, one is the excel that contains all the
data, and second is the word file (write up)

Groups Students must form groups of four to five students. Only ONE student needs
to submit the softcopy on Moodle, but clearly list all group members’ name
and ID on the first page.

Word Limit Fill an excel file collecting data from a firm you are allocated; and write an
essay with 2000-2500 words.
 Fill the excel worksheets properly;
 Do not exceed the maximum word limit;
 Disclose the word count in your final assignment.

Format and Style Please submit a Word document (NO PDF format) for the essay.
Guide (Essay part) Font Size 12 and Line Spacing 1.5
Essay style, academic writing, you can use tables, graphs, headings/sub-
headings, colors etc. NO bullet points.

Referencing Follow the APA referencing system.

Maximum 5 references including at least 2 peer-reviewed journal articles.
(For peer-reviewed journal articles, You can use online search using ProQuest
or another journal database accessible through the USP Library website. You
can seek help from the USP Library Information Desk or FBE SLS if you have
difficulties; however do not expect them to find the articles for you.)

Assignment • Your assignment will be graded according to the attached marking rubric.
Assessment • Turnitin similarity rate should not exceed 15%.
Please pay close attention to the USP regulations on plagiarism.

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Assignment Topic:
Critically analyze a listed firm’s fair value accounting (IFRS 13), revenue (IFRS 15), leases (IFRS 16),
corporate governance and audit characteristics over time and answer the research question “are
fair values and other accounting estimates a true reflection of the company’s performance?”
REQUIRED:
1. Collecting basic financial and corporate governance data from a listed firm’s annual reports.
An Excel template is provided for each group with firm-years aligned for the group. You are
required to fill the excel properly and clearly. The data you collect will be used in your essay.
The following 2-4 are essay requirements.
2. Critically analyze:
 The statement of comprehensive income of the company
o E.g The trend of fair value gains, fair values losses, their impacts on company’s
profits (ROE, ROA)
 The statement of Financial position of the company
o E.g fair value assets, fair value liabilities (Level 1, Level 2, Level 3) in relation to
total assets. Analysis of investment property values (Note: investment properties
are usually valued at Level 3 fair values in the real estate industry)
3. Discuss the firm’s corporate governance and ownership structure and provide suggestions on
how to improve. You are required to discuss whether its corporate governance is good, based on
the board and audit committee characteristics. What is the advantage of proper board and type
of valuers in relation to fair value accounting? [You could discuss the firm’s board size, whether
CEO and chairperson are the same person, how many independent directors, female directors,
shareholder information, internal valuers or external valuers etc.]
4. Study and comment on the trend of the audit report of the company. Example was the opinion
qualified or unqualified, were there any restatements, or going concern problems or any other
necessary issues. Also, discuss if there were any significant changes in the accounting
policies/estimates/methods in the company. The trend for the audit fees, non- fees and the trend
relationship of these two type of fees in relation of Level 3 fair valuations of the company. Also,
comment on the key audit matters mentioned in the audit report, and the type of key audit
matter.
5. Study each director of a firm and read their biography, make an assessment on whether the
qualification of the directors and the Chief executive officer (CEO) is appropriate in doing level 3
fair valuations of investment properties. (Hint: You have to assess the director’s qualification,
whether there are accounting expert, valuation expert and then comment on their ability to fair
value assets)

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ESSAY GRADING RUBRIC

Facet of Element of Grade D or E C or C+ B or B+ A or A+

Research Marking Mark 0-4/10 marks 5-6/10 marks 7-8/10 marks 9-10/10 marks
Embark and State objectives of 10 Failed to state Stated at least 1 Clearly stated at Clearly stated a few
Clarify the research any research relevant objective least 2 relevant relevant and
clearly and objectives objectives achievable
unambiguously objectives
Find and Find and generate 10 Failed to generate Collected some Collected adequate Collected
Generate needed valid information information or data information or data comprehensive
information and/or or data from literature, from literature, information or data
data using annual reports, annual reports, from literature,
appropriate interviews etc. using interviews etc. using annual reports,
methodology an appropriate at least 1 interviews etc. using
research method appropriate appropriate
research method research methods
Evaluate and Evaluating the 10 No credibility of At least 1 credible At least 1 credible At least 2 credible
Reflect credibility of information information information information
information on fair identified; identified; identified; identified;
value accounting, Failed to state Properly stated and Properly stated and Properly stated and
its levels, and and cite any cited at least 2 cited at least 4 cited sufficient
valuer information relevant or relevant and reliable relevant and reliable relevant and reliable
reliable information/data information/data information/data
information/data sources sources sources
sources
Organize and Organize 10 Failed to Summarized some Summarized the Summarized the
Manage information/data structure the literature/data; literature/data literature/data
and structure the essay, no themes Structured the essay adequately; comprehensively;
essay in an to some extent to Structured the essay Structured the essay
academic way reveal themes clearly to reveal well to reveal
relevant themes relevant themes

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Analyze and Criticize literature, 10 Failed to criticize Criticized literature, Criticized literature,
Criticized literature,
Synthesis and critically literature, and and critically and critically and critically
analyze data to critically analyze analyzed data to analyzed data to analyzed data to
produce data produce basic produce adequate produce
comprehensive understanding and understanding and comprehensive
understanding and provide at least 1 provide at least 1 understanding and
to provide suggestion insightful suggestionprovide a few
constructive constructive
suggestions suggestions
Analyze the firm’s 10 Failed to analyze Analyzed at least 1 Analyzed a few Significantly
board and audit the board and aspect of the board aspects of the board analyzed the board
committee audit committee and audit and audit and audit
characteristics, characteristics, committee committee committee
directors and CEO directors and CEO characteristics, characteristics, characteristics,
qualification qualification directors and CEO directors and CEO directors and CEO
qualification qualification qualification
Communicate Coherent and well- 10 No coherence, Some coherence, Good coherence, Excellent coherence,
and Apply written essay with hard to follow the understandable well-written essay well-written essay
no language writing with many English writing with with a few grammar with no grammar or
mistakes. grammar or some grammar or or spelling mistakes spelling mistakes
spelling mistakes. spelling mistakes
Total There will be 70
penalty for >15%
Turnitin rate and
>2500 words

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