Formatting requirements which apply to the whole assignment
Cover sheet: Your assignment must have a cover sheet. Download the cover sheet from
the assessment folder, or create one with the same essential elements.
Headings and subtitles: Before answering each question, provide an appropriate
heading or subheading.
Fonts, margins and page setup: Use size 12 font, either Arial or Times New Roman. Use
1.5 line spacing. Use portrait page orientation1 and a moderate margin. Strictly adhere to
all word limits.
References: You must provide complete in-text references and a complete end of
document reference list. You must correctly follow the referencing style identified in the unit
outline. Lecture slides or other study materials provided on Blackboard are not considered
to be acceptable references – we expect that you will conduct research beyond the
learning materials provided to you in the unit!
Word limits: Section one of your assignment has no word limit. Section two has a
STRICT word limit of 800 words. All references (in-text and end of document reference list)
and appendices do not count towards the 800 word limit. Use your 800 words wisely: do
not repeat news articles.
Further requirements which apply to section one of the assignment
References: You should provide academic references where necessary.
Format: Section one of your assignment should be presented in a report format.
Note: Assignments which are not adequately formatted will lose up to two (2) marks.
It is acceptable to use landscape orientation to display your statement of changes in equity.
Financial Reporting Assignment – ACCT2006 Semester 2 2020/ACC230 OUA SP3 2020 Page 2 of 7
Section 1: Presentation of financial statements (10 marks)
In your pairs, you will have already chosen an ASX listed company. Your assignment will
require the comparison and analysis of their last two published annual reports.
You will therefore need to obtain copies of their two most recently published annual reports.
Depending on when your chosen company publishes their reports, these may be the reports
for 2017-18 and 2018-19, 2018 and 2019, or 2018-19 and 2019-20. These two reports must
be from two consecutive years.
Your analysis will be presented in report format. You will need to use a spreadsheet program
(Microsoft Excel, LibreOffice Calc, or similar), a word processing program (Microsoft Word,
LibreOffice Writer, or similar) and a PDF converter to prepare your report.
1. Requirement one – preparation in a spreadsheet program (Total of 5 marks,
based on completeness, accuracy and correct format of your presentation)
Once you have obtained the two annual reports, transfer their income statement, balance
sheet, statement of changes in equity and statement of cash flows into a spreadsheet.
1a) Prepare a spreadsheet with these financial statements. Ensure that the statements are
formatted in a professional and attractive manner.
1b) Use formulas in your spreadsheet to verify that the totals shown in the financial
statements have been correctly calculated.
2. Requirement two – written analysis (Total of 5 marks)
Once you have transferred the financial statements and into a spreadsheet, you will then
prepare a report (using Microsoft Word, LibreOffice Writer, or a similar word processing
program) which analyses some aspects of these reports.
Financial Reporting Assignment – ACCT2006 Semester 2 2020/ACC230 OUA SP3 2020 Page 3 of 7
Your report must be formatted in a professional and attractive manner2. Further, your report
must follow the conventions of report formatting3.
2a) Provide the reader with an introduction to the company you are analysing. This
introduction should provide the reader with a basic understanding of what they do, which
industry they operate in, company information and when their financial statements are
prepared. As a minimum, we are looking for you to tell the reader the industry the company
is in, when it was formed, what their structure is, what its market capitalisation is and who
their auditors are.
(Total of 1.5 marks)
2b) Identify both the time period for which the reports refer and when the reports were
(Total of 0.5 marks)
2c) Identify the figures provided in the older of the two reports (e.g. if you downloaded
FY2018 and FY2019’s annual reports, the older of the two reports would be FY2018). These
figures will also be stated in the newer report, so that you can compare the results between
the most recent and the second most recent year4. Compare the figures as stated in both
reports. Are they the same?
If not, you must identify the differences.
If there are differences, provide reasons for why they have been changed. In a spreadsheet,
you should compare the two sets of figures by subtracting one column’s figures from the
other to demonstrate the ‘differences’.
See https://www.youtube.com/watch?v=ZDF3-9e_7tA (please feel free to conduct your own research using
YouTube resources) for some guidance on what constitutes professional and attractive formatting in a word
processing program. 3
See https://www2.le.ac.uk/offices/ld/resources/writing/writing-resources/reports for some guidance on what
constitutes correct report format. 4
For example, in Qantas’ 2019 annual report, they have reported figures for both 2019 and 2018. In their 2018
annual report, they have reported figures for both 2018 and 2017. “The older of the two reports” is the 2018
report. The figures of the 2018 financial year are disclosed in both 2019 and 2018 annual reports. You are
then required to extract the 2018 figures from these two years’ reports, and then complete the task. You
may ask, shouldn’t they be the same? The answer is that you would think so, but they are not always.
That’s why we want you to make the comparison and confirm.
Financial Reporting Assignment – ACCT2006 Semester 2 2020/ACC230 OUA SP3 2020 Page 4 of 7
A separate extraction of the specific year’s results is recommended in answering this
(Total of 2 marks)
2d) Provide a reconciliation note for your company’s most recent retained earnings
account balance (if a business does not have a history of profits, they may report ‘retained
losses’ or ‘accumulated losses’ instead). This information can be found and extracted from
the statement of changes in equity. The purpose of this note is to explain what the balance
of the retained earnings account was at the start of the period and what caused it to move
up or down, thus demonstrating how it got to the ending balance.
Your analysis should provide both the reconciliation note, as well as a written explanation of
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