代写 ACCT6010 Advanced Financial Reporting

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ACCT6010

Advanced Financial Reporting

Semester 1, 2016

Individual Assignment

Due: 10am Thursday 24 March 2016

Instructions and information

• Completion of all parts of this individual assignment is compulsory as stated in the

UoS Outline on page 2.

Each individual assignment should be submitted in electronic form only using the

‘Turnitin’ function on Blackboard (included within the ‘Assessment’ folder) by

10.00am, 24 March 2016. If you hand it in after the due date, a late penalty of 20%

per day, or part thereof, including weekends and public holidays, will be applied.

Submissions will NOT be accepted after the closing date of 10.00am, 31 March

2016. An AF grade will be awarded.

• Your assignment will be marked out of 15 as shown in Appendix 1.

• Answers to this individual assignment should not exceed 4 pages, being 800 words

or less including any attached footnotes, appendices and a bibliography or reference

list. Where an individual assignment is more than 10% above the 800 word limit,

10% of the total marks will be deducted, i.e. a 10% penalty will apply to

submissions between 881-960 words. An additional 10% of the total marks will be

deducted for each further 10% over the word limit thereafter. Please include the

final word count in the footer on page 1 of your assignment.

• Students should refer to the University of Sydney Business School Referencing

Guide for information in relation to referencing.

http://sydney.edu.au/business/__data/assets/pdf_file/0007/91681/BSRG_10ed.pdf

• Answers are to be 12 point font (either Times Roman or Arial) and paragraphs

formatted with 1.5 line spacing and with margins not less than 2.5cm. The

referencing used in all assessments in this unit should be in a consistent format.

• You are required to prepare assignments for submission using specific formatting

rules. In the header of your individual assignment you must show (i) the ACCT

6010 individual assignment student reference number (this will be available on

Blackboard); (ii) the UOS code; (iii) the assessment reference; (iv) year; the (v)

semester; and (vi) your 9 digit SID. Use underscores between each field and the

same order as above. The following is an example:

457_ACCT6010_IA2016s1_123456789

In this example the student reference number is 457 and the SID is 123456789.

The file name should follow the same format. For example:

457_ACCT6010_IA206s2_123456789.docx

• For your reference, a sample file complying with the submission criteria will be

available in the individual assignment folder on the ACCT6010 Blackboard site.

• Individual assignments without this formatting cannot be identified and may NOT

be graded. Other guidance on how to submit using Turnitin is also provided in the

assessment folder on the ACCT6010 Blackboard site.

• If necessary, students are advised to refer to the special consideration advice

contained in the Administration Manual for Students on the Faculty website:

http://sydney.edu.au/business/currentstudents/information/student_administration_

manual

Grade Descriptors

Due to the specific nature of this individual assignment students are advised generic

submissions will not score high marks as the individual assignment requirements will

not be met. The following can at best be considered as a general indication, assuming

consistency in quality of component parts.

High Distinction Has addressed the purpose of the assignment comprehensively.

Distinction Has addressed the purpose of the assignment coherently.

Credit Has addressed the main purpose of the assignment .

Pass Some of the work is focused on the aims and themes of the assignment.

Fail Fails to address the task set

Questions about the assignment

Students are required to post all individual assignment queries to the individual

assignment forum on Blackboard. This is the required form of communication as it

provides an opportunity for all students to have access to the same information.

Guidance on the assurance of program learning outcomes that will be undertaken

through this assignment:

As noted in the unit of study outline PLO 1 will be assessed while PLO 4 will be

assured for the Master of Professional Accounting and the Master of Commerce

(Accounting) programs within ACCT6010 Advanced Financial Reporting through this

individual assignment:

PLO 1Accounting Knowledge: Our Masters programs develop each graduate to be

a knowledgeable business practitioner leading to students who are able to

demonstrate an advanced integrated understanding of accounting principles,

techniques, standards, regulatory requirements and current global developments in

accounting and reporting. (Assessed in ACCT6010)

PLO 4 Communication: Our Masters programs develop each graduate to be a

persuasive communicator and negotiator leading to students who are able to reach

agreement with others about appropriate responses to problems and opportunities

within accounting and reporting, using a range of communication strategies.

(Assured in ACCT6010)

The contents of this individual assignment have been designed for educational

purposes only and are strictly hypothetical. It is based on publicly available

information.

Background and other important information to this individual assignment:

As part of the pre work for an initial analyst briefing you have been requested to

research specific aspects of the intended 100% acquisition of Asciano Limited

(“Asciano”) by a jointly owned bid entity BidCo Holdings Pty Limited (“BidCo”).

BidCo is an arrangement between the consortium of Qube Holdings Limited (“Qube”),

Global Infrastructure Management Australia Pty Ltd (“GIP”), Canada Pension Plan

Investment Board (“CPPIB”) and Beijing Shunrong Investment Corporation

(“Shunrong”), hereafter referred to as the “Qube Consortium”. Further details of the

intended acquisition and other related transactions are found in the Bid Implementation

Deed dated 16 February 2016 available at:

http://www.asx.com.au/asxpdf/20160216/pdf/43529dswhhpz1l.pdf

This document is 77 pages.

Your assigned task for this individual assignment is to consider the financial reporting

implications for the Qube Group acquiring a 100% interest in Asciano’s terminal and

logistics business (“the Ports”). At the date of completing this individual assignment

students must assume the Australian Taxation Office and the Australian Competition

and Consumer Commission have approved the Asciano acquisition and Ports

transactions as included in the Bid Implementation Deed.

Several stakeholders are interested in the accounting implications from the Asciano

acquisition and Ports transactions. Hence, it is important for you to interpret the limited

information that is currently available and make informed, considered and professional

judgements. The questions in this individual assignment require you to investigate

issues, effectively communicate relevant discussion and develop well argued

conclusions. As described in the Appendix 1 assessment criteria, marks are allocated to

communication skills. The submitted responses will be assessed against all components

of the assessment criteria so as to provide students with appropriate feedback

concerning their performance. Communication and writing assistance is available

through the Learning Centre at:

http://sydney.edu.au/stuserv/learning_centre/resour.shtml

Resources:

Students should, when required by the following questions, refer to the resources listed

below to complete this individual assignment. Abbreviations of these references can be

used in your answers and reference list as shown in the square brackets below. Any

additional references have to follow the Business School’s Reference Guide.

• AASB 3: Business Combinations [AASB3]

• AASB 10: Consolidated Financial Statements [AASB10]

• “Asciano board accepts Qube takeover bid; Brookfield misses counterbid

deadline”, The Sydney Morning Herald, 16 February 2016 available at:

http://www.smh.com.au/business/asciano-board-accepts-qube-takeover-bid-as-

brookfield-doesnt-counteroffer-20160215-gmuymw [SMH 16/2/2016]

• “Qube granted access to Asciano’s books ahead of 9bm take overbid”, The

Sydney Morning Herald, 15 November 2015, available at:

http://www.smh.com.au/business/qube-granted-access-to-ascianos-books-ahead-of-

9bn-takeover-bid-20151115-gkzhld.html [SMH 15/11/2015]

• Bid Implementation Deed, 16 February 2016 available at:

http://www.asx.com.au/asxpdf/20160216/pdf/43529dswhhpz1l.pdf

This document is 77 pages. [Bid Implementation Deed 16/2/2016]

• “Qube Consortium’s Revised Proposal for Asciano determined to be superior to

Brookfield proposal”, ASX Announcement, 8 February 2016, available at:

http://www.asx.com.au/asxpdf/20160208/pdf/434wsz17w5qnkr.pdf

This document is 13 pages. [ASX 8/2/2016]

• Asciano financial statements for the year ended 30 June 2015. This document is

available at: http://asciano.com.au/investors/announcements/918/download

This document is 99 pages. The financial statements commence on page 31.

[Asciano Annual Report 2015]

• Qube financial statements for the year ended 30 June 2015. This document is

available at:

http://www.qube.com.au/downloads/announcements/2015_Annual_Report_and_N

otice_of_AGM-2015-10.pdf [Qube Annual Report 2015]

This document is 150 pages. The financial statements commence on page 58.

• Any other pertinent information, e.g., additional Qube or Asciano press releases

and relevant readings. [Must be referenced in full]

Required:

Part A (14 marks)

Provide a separate answer for each of the following Part A sub questions. Your Part A

(a) and Part A (b) responses are required, in Part B of this individual assignment, to

be linked to relevant discussion points in your Part B essay style response.

a) Referring specifically to the recitals in the Bid Implementation Deed and Note

5.2 to the Asciano’s 30 June 2015 financial statements as well as other relevant

documentation explain how the:

(i) acquirer in the Qube Group; and

(ii) Qube Holdings Ltd

will account for the Qube Group’s acquisition of the Asciano’s Ports business.

Your explanations are to be accompanied by proforma journal entries in

relation to this acquisition in Qube Holdings Limited and separately the

acquirer in the Qube Group (Hint: Proforma journal entries only contain

account names, no dollar amounts are required); and

b) Using the Qube Group’s consolidated financial statements for the year ended

30 June 2015 and relevant balances from Asciano’s 30 June 2015 financial

statements, identify two (2) specific account balances that will change in future

consolidated financial statements for the Qube Group when recognising

Asciano’s Ports business as a wholly owned subsidiary. Your answer must also

provide explanations why the change will occur in each account balance.

Students are advised the thinking and analysis required within this individual

assignment will be examined in a S1 2016 mid semester exam question. As part of

your preparation for the mid semester exam, please ensure you independently and

actively engage with each question in this individual assignment.

代写 ACCT6010 Advanced Financial Reporting

Part B (16 marks)

“The Qube equity component within the revised proposal provides Asciano

shareholders with participation in the future upside of the combined Qube and

Asciano’s Ports business and direct exposure to benefits of Qube’s strategy and

management.”

Using a concise essay style similar to the format you learnt in ACCT 6001, evaluate

this statement. Your evaluation must consider and provide:

a) a discussion of the AASB 10 definition of control and how it will or will not

apply to the Qube Group’s interest in Asciano’s Port business. This discussion

point is to be linked back to the two (2) specific account balances identified in

your Part A (b) answer;

b) a discussion of the Qube equity to Asciano shareholders component of the

acquisition transaction and whether in your opinion it is or is not a

characteristic of control. This discussion point is to be linked back to the

explanation of the acquisition transaction included in your Part A (a) answer;

and

c) a persuasive conclusion in relation to the statement’s acclaimed benefits for

Asciano shareholders from the Qube/Asciano business combination

accompanied by one (1) supporting reason.

Appendix 1. Assessment criteria

Part Assessment guide BB feedback

point (1)

Mark/30

A(a)

Demonstrates detailed understanding of

acquisition transactions for different entities

within a group and their associated

accounting for unique aspects of a business

combination.

A(b) Capably chooses and explains changes, after

a business combination, to appropriate

accounts in a group’s future consolidated

financial statements.

Part A

communication

Correctly uses source information and

technical references to prepare responses

which are appropriately structured and

professionally presented.

Part B Prepares a considered argument to a stated

view that analyses the AASB 10 definition

of control, benefits of an acquisition and

persuasive conclusion to a stated view that

is accompanied by a valid supporting

reason.

/10

Part B

communication

Capably prepares a concise essay style

response which communicates a stated view

that is logically argued with supporting

links to other parts of this individual

assignment.

Mark out of /30 for all parts /30

Penalty

Final mark out of /15 for all parts /15

Specific comments:

Footnotes:(1) Refer to detailed explanation for these feedback points. They will be available on BB at the time

individual assignments are returned to students.

END

代写 ACCT6010 Advanced Financial Reporting