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SBM3108 Financial Accounting Assignment Help

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SBM3108 Financial Accounting Assignment Help

SBM3108 Financial Accounting Assignment Help

Financial accounting is the field of accounting concerned with the summary, analysis and reporting of financial transactions related to a business. This involves the preparation of financial statements available for public use.

Accounting Principles

GAAP is based on some basic underlying principles and concepts such as the cost principle, matching principle, full disclosure, going concern, economic entity, conservatism, relevance, and reliability. (You can learn more about the basic principles in Explanation of Accounting Principles.)

GAAP, however, is not static. It includes some very complex standards that were issued in response to some very complicated business transactions. GAAP also addresses accounting practices that may be unique to particular industries, such as utility, banking, and insurance. Often these practices are a response to changes in government regulations of the industry.

GAAP includes many specific pronouncements as issued by the Financial Accounting Standards Board (FASB, pronounced "fas-bee"). The FASB is a non-government group that researches current needs and develops accounting rules to meet those needs. (You can learn more about FASB and its accounting pronouncements at www.FASB.org.)

 

Financial Statements

Financial accounting generates the following general-purpose, external, financial statements:

  1. Income statement (sometimes referred to as "results of operations" or "earnings statement" or "profit and loss [P&L] statement")
  2. Statement of comprehensive income
  3. Balance sheet (sometimes referred to as "statement of financial position")
  4. Statement of cash flows (sometimes referred to as "cash flow statement")
  5. Statement of stockholders' equity.

Assessment 1: Quiz

Due date: Week 3

Group/individual: Individual

Word count / Time provided: 30 minutes

Weighting: 10%

Unit Learning Outcomes: ULO-1

Course Learning Outcomes: CLO1

Graduate Attributes: GA-1

Assessment Details:

This quiz will assess your knowledge of key content areas (Week 1 & 2 content) and to identify further support needs. For successful completion of the quiz, you are required to study the material provided (lecture slides, tutorials, and reading materials), engage in the unit’s activities, and in the discussion forums. The prescribed textbook is the main reference along with the recommended reading material.

Marking Information: The quiz will be marked out of 20 and will be weighted 10% of the total unit mark.

Assessment 2: Assessment Summary

Due date: Week 6

Group/individual: Individual

Word count / Time provided: 1000 – 1500 words

Weighting: 20%

Unit Learning Outcomes: ULO-1, ULO-2, ULO-3, ULO-4, ULO-5

Course Learning Outcomes: CLO-4

Graduate Attributes: GA-1, GA3

Assessment Details:

The purpose of this assessment is to write a clear and objective summary of the original text. To write the assignment, you need to select One recent article published in peer reviewed journals relevant to the topic of contemporary issues in Financial Accounting in Australia. Student need to provide a link to the article summary that will be inserted in their article summary page and a full reference.

Guidelines for writing a summary of an article:

• Identify the most important details that support the main ideas.

• Write in your own words and avoid copying phrases and sentences from the article unless they are direct

quotation.

• Express the underlying meaning of the article, not just the superficial details.

• Your summary should be max 1000 - 1500 words.

• provide a link to the article summary that will be inserted in their article summary page and a full

Assessment 3: Critical Review

Due date: Week 9

Group/individual: Individual assignment

Word count / Time provided: 1500-2000

Weighting: 30%

Unit Learning Outcomes: [ULO1], [ULO2], [ULO3], [ULO4]

Assessment Details:

“The role of financial accounting in Australia in this changing business environment” The major consideration for financial accounting in Australia is to match with international accounting standard. In this assignment, students should write an individual report to provide a critical analysis on any one feature of differentiation in treatment of accounting aspect between international accounting standard and Australian accounting standard. The students also required to submit power point presentation with this assessment.

Assignment 4-Report (40%)

Due date: Week 10

Group/individual: Group

Word count / Time provided: 2500

Weighting: 30%

Unit Learning Outcomes: ULO-1, ULO-2, ULO-3, ULO-4, ULO-5

Course Learning Outcomes: CLO-1, CLO-4, CLO-5, CLO-7

You are to review a company’s annual reports for the year end 2015, 2016 & 2017.

You can either download the complete report or review relevant sections of the report individually. However, you must download the financial statements (income statement, balance sheet, statement of cash flow)

. a) You are required, by using ratios, to show the profitability, liquidity, efficiency and gearing of the company for the years 2015, 2016 and 2017. You should include calculations for at least three ratios, if relevant, from each of the categories as listed.

b) Provide a report to management giving advice based on your results from your calculations of the above ratios. (500 words).

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