代写 ACCT3004 Accounting Theory and Analysis

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  • 代写 ACCT3004 Accounting Theory and Analysis

     
    School of Accounting
    ACCT3004 Accounting Theory and Analysis
    Tri 2A 2016
    Written Assessment Information Sheet
    Sydney, Singapore, Hong Kong
    Written Assessment (15%)
    Due 5pm 19 th August 2016
    (uploaded through Turnitin on the Blackboard site used by this unit)
    Background
    Carart Ltd is company established by the smash repair industry in Australia. Smash repairers fix
    and repair cars after they have been involved in an accident. Most of the revenue of the smash
    repair business comes from a small number of insurance companies and car paint is their biggest
    cost. The industry is very fragmented, comprising many small businesses across Australia.
    Therefore, the individual smash repairer businesses had very little bargaining power either with the
    insurance companies or with their suppliers. In order to combat this, Carart Ltd was established and
    has the following aims;
    1) To act as a lobby group for the industry so that the individual smash repair business has a voice
    against suppliers, regulators and the insurance companies
    2) To negotiate better prices for the smash repairers for their paint and other supplies which they
    could not do individually due to their size
    3) To help build wealth for the individual smash repairer businesses through providing dividends
    from investments
    The structure of Carart Ltd is as follows;
     The income of Carart Ltd comprises rebate income from the paint suppliers as well as
    investment income. The rebate income is calculated as a fixed % of all the paint that each of
    the shareholder businesses acquire from the main paint supplier and is paid every July based
    on the paint costs of the prior financial year.
     Carart Ltd has a policy of paying out dividends annually to the shareholders
     A copy of the draft projected financial statements for Carart Ltd is provided
     Carart Ltd has recently acquired a commercial rental property with bank funding. The
    building cost $1m and they borrowed $650000. As a result of the funding, the bank has
    imposed the following debt covenant;
     Net profit margin of at least 30% (EBIT/gross income)
    Carart Ltd
    Directors = 4
    shareholder
    representatives plus
    Nicole
    Shareholders = 40 individual smash
    repairer businesses (equal
    shareholding)
    Employees = Nicole, the
    General Manager and 2
    administration staff
    Page 2 of 4
    Scenario and decision
    The board is having their final board meeting before 30 June 2016 and Nicole has advised them that
    one of the shareholders has contributed well over half of the rebate income for the year. The board
    is considering rewarding this shareholder by paying out a rebate to them of $300,000 specifically as
    a bonus for their efforts. This would be accounted for as an additional expense of Carart Ltd but it
    would mean that it is fairer for that shareholder given their contribution.
    The board is trying to decide whether or not they should commit to this before or after 30 June as
    they are conscious of the impact this payment would have on the other stakeholders of Carart Ltd,
    especially the bank.
    Nicole has sought your advice as the external accountant to Carart Ltd.
    Carart Ltd
    Projected Financial statements for the year ended 30th June 2016
    Assets Income
    Current Assets Rental income 100000
    Cash at Bank  250000 Rebates  750000
    Rebates receivable  750000 Gross income 850000
    Total current assets 1000000
    Less: Expenses
    Non-current assets Salaries  100000
    Land & buildings 1000000 Rebates paid 0
    Total non-current assets 1000000 Other expenses 210000
    Total assets 2000000 Interest 45000
    Total expenses 355000
    Current Liabilities
    Staff superannuation 25000 Net Profit  495000
    Dividends payable 200000 Less: income tax  148500
    Rebates payable  0 Net Profit after tax 346500
    Total current liabilities 225000 Less: dividends 200000
    Non-current liabilities Net profit after tax and dividends 146500
    Bank Loan 650000
    Total Liabilities 875000
    Equity

    代写 ACCT3004 Accounting Theory and Analysis
    Share capital  40000
    Retained earnings 1085000
    Total Equity 1125000
    REQUIRED
    You are required to write a Letter of Advice to the Board, together with a transmittal email
    to Nicole outlining
    1) The financial impact that declaring the rebate before or after 30 June will have
    (calculations are required)
    2) Whether or not this represents earnings management, and if it is good or bad
    earnings management? (academic references required)
    3) Your recommendation as to which year the rebate should be committed to pre or post
    30 June. (Hint: you may want to consider the AAA model discussed in the lecture)
    (The Letter of advice should be limited to 4 pages plus references)
    Page 3 of 4
    Required Format and additional information
     There are two documents required to be submitted via turnitin
    1) The transmittal email and
    2) The letter of advice which includes references
     A guideline rubric/marking guide will be placed on Blackboard. Note that marks will be
    allocated for both referencing and using the correct formats for these written forms of
    communication.
    The allocation of the marks is in accordance with the rubric provided and can be broadly summarised as
    Allocated by document type  Allocated by question
    Transmittal email  10% 
    Letter of advice  90% 
    Question 1) – Financial impact  20%
    Question 2) – Earnings Management  50%
    Question 3) – Recommendation & Justification  30%
     The written assessment should use a size 11 or 12 font. Left and right page margins should be at
    least 2 cm. Documents submitted must be properly formatted and checked for appropriate
    spelling and grammar. Documents submitted that are not formatted correctly will lose 10%
    automatically. This includes appropriate punctuation and ensuring a space after a full stop or
    comma or semi-colon or colon and inappropriate use of symbols.
     A separate cover page is not required. However, your Student Name and Student ID should be
    incorporated into the written communication eg in the address section and your letter should
    include page numbers.
     Chicago referencing style is required for in-text and end-text referencing. In-text and end-text
    references are required. Students need to ensure they discuss the points they think are the most
    important to ensure that the word limit is adhered to. Students who provide no in-text references
    will receive a grade of zero and may be reported for plagiarism. University policies and
    procedures for academic misconduct and plagiarism will be applied. Further information is
    available at academicintegrity.curtin.edu.au.
     A minimum of 10 references should be provided
     Originality reports displaying percentage (%) of similarity can be viewed by students to ensure
    they have referenced where appropriate and not plagiarised. Students can resubmit their edited
    documents multiple times prior to the submission time. All similarities should be checked by
    students to ensure that where applicable the text is correctly referenced. A high degree of
    similarity and low degree of referencing will most likely result in a low grade.
     NOTE: When you submit your letter to Turnitin for the first time you will receive the
    similarity report within 2-30 minutes. If you resubmit a second time and each time after
    that it may take 24 hours to view the similarity report.
    Page 4 of 4
     IMPORTANT - The file name of the word document and the submission title in Turnitin needs
    to reflect your location and student ID (That is labelled correctly in BOTH places) for example;
    - BEN_12345678 (for Bentley Students)
    - FO_12345678  (for Fully Online Students)
    - Miri_12345678 (for Miri Sarawak Campus Students)
    - MAU_12345678  (for Mauritius Students)
    - SYD_12345678  (for Sydney Students)
    - SING_12345678  (for Singapore Students)
    - HK_12345678  (for HK Students)
     Failure to comply with labelling instructions can result in a loss of 2 Marks.
    Additional Support Information
    Online grammar exercises and a calendar for support workshops can be found at the following websites:
      http://business.curtin.edu.au/study/student_support/communication_skills_centre/online-
    grammar-exercise.cfm
      http://life.curtin.edu.au/learning-support/learning_support_calendar.htm
    Please also refer to the additional resources and templates provided on Blackboard and in E-reserve
    for writing letters of advice and transmittal emails.
    Turnitin for Students
    What is Turnitin?
    Turnitin is an electronic text matching system that compares text in a student assignment against
    electronic text on the Internet, in published works, on commercial databases, and in assignments
    previously submitted to Turnitin by students in universities all over the world, including
    assignments obtained from internet sites that sell student papers.
    The Turnitin system operates through a web site and is accessed using standard web browsers.
    Turnitin is a text-matching system and contrary to popular belief it is NOT a standalone plagiarism
    detection system. Turnitin provides an 'originality report' in which 'matched' text is underlined,
    colour coded, and linked to either the original source or a similar document on its database. Turnitin
    indicates the degree of text matching, and lecturers must still review the originality report and
    perhaps use other measures in order to determine if plagiarism has occurred.
    Why is Turnitin being used at Curtin?
    Currently, Curtin degrees have prestige with employers and the wider community but this can be
    threatened by breaches of academic integrity (including plagiarism). Academic integrity is essential
    to the operation and reputation of Curtin courses.
    Turnitin supports the implementation of Curtin University's mission and values and its policy on
    plagiarism. It is one of many resources that can help ensure that academic integrity is maintained:
    tutors have multiple ways of detecting plagiarism and are normally very familiar with the academic
    reference sources within their discipline. Turnitin quickly identifies the source of matching text and
    this assists in the decision making process, thereby helping support the maintenance of fair
    assessment standards for all students.
    http://academicintegrity.curtin.edu.au/overview/Turnitin_whatis.cfm

    代写 ACCT3004 Accounting Theory and Analysis