In-class test covering all material up to Week 6.

Extensions There are no extensions for this assessment. 

Penalties Students must be present in Class when the test is given or else they will receive a zero grade. This penalty does not apply to cases in which an application for special consideration is made and approved.

Students will choose one of the following topics as the basis of an in-class Powerpoint Presentation and a 1000-word report on the current status of the topic from a reporting perspective. Students should define the topic, outline the regulatory requirements from a reporting perspective, give an update on how companies are applying the topic, and outline challenges for the future.

Week 8 - Fair Value Accounting

Week 9 - Australian Corporate Governance Guidelines

Week 10 - Integrated Reporting Part 1

Week 11 - Integrated Reporting Part 2

Week 12 - Social and Environmental Reporting

Week 13 - EU Directive on Non-Financial Reporting

Students will be allowed to work in groups. 50% of the mark is a shared group mark and 50% will be attributed to individual students.

Provisions for Disruptions

No extensions will be granted. There will be a deduction of 10% of the total available marks made from the total awarded mark for each 24 hour period or part thereof that the submission is late (for example, 25 hours late in submission – 20% penalty). This penalty does not apply for cases in which an application for special consideration is made and approved. 

Submission:

All essays must be submitted via TurnItIn. Hard copies will not be accepted.

Deliverables:

Analysis of corporate liquidity - Your role is to use the annual reports from Harvey Norman Holdings to investigate the liquidity and insolvency risk of Harvey Norman Holdings from an accounting perspective. In 2017, Harvey Norman Holdings made headlines because it was accused of not correctly accounting for its franchisees, while at the same time declaring record profits, yet providing reduced dividends. While the Australian Securities and Investment Commission (ASIC) has cleared Harvey Norman Holdings of an accounting standards breach, its share price has been up and down as investors struggle to understand what is happening.

In this maximum 2000-word essay, you must use the IDEALS framework to critically analyse whether or not Harvey Norman Holdings is in danger of becoming insolvent. Essential elements of the essay are:

1. In defining the context you must calculate all the liquidity ratios covered in class, and the Altman’s Z-score for Harvey Norman Holding for at least the past three years.
2. From the context of the liquidity ratios, identify and provide reasons for selecting three core financial performance issues that Harvey Norman Holdings should address to improve their financial performance and lower the risk of insolvency.
3. Further discuss the strengths and weaknesses of the three key performance issues compared to its major competitor JB HiFi.
4. To conclude the essay, identify what the most important issue Harvey Norman Holdings needs to address to prevent potential insolvency.
5. In your closing reflection outline some critical concerns about the role played by investors, accountants and financial reporting standards.

A reference list is required and does not form part of the word count. If you disclose information without having it properly referenced you will subject to the academic honesty and plagiarism policy. In line with the University policy and all such cases will be referred to the Faculty Discipline Committee. It is recommended that you use EndNote for referencing and the APA 6^th Style for your reference list.

Task overview: 

The purpose of the research report is to allow you to display:

• Discipline knowledge and skills;
• Critical, analytical and integrative thinking; and
• Effective communication.

This is a formative assessment designed to prepare you for Research Report Part 2.

Provisions for Disruptions

No extensions will be granted. There will be a deduction of 10% of the total available marks made from the total awarded mark for each 24 hour period or part thereof that the submission is late (for example, 25 hours late in submission – 20% penalty). This penalty does not apply for cases in which an application for special consideration is made and approved.

Submission:

All essays must be submitted via TurnItIn. Hard copies will not be accepted.

Deliverables:

Identifying key capitals for an Integrated Report for Harvey Norman Holdings. Arguably, financial reporting does not disclose all the required information required by investors and other stakeholders. In Australia, the need to supplement financial information from listed companies is recognised in the Financial and Operating Review and in disclosures to comply with the ASX Corporate Governance Principles and Recommendations. However, there are further calls for additional reporting based on the International Integrated Reporting Framework (IIRF) which seeks to become the corporate reporting norm. At the core of the IIRF is the business model based on the six capitals (Financial, manufactured, intellectual, human, social and relational, and natural capital).

In this maximum 2000-word essay, you must use the IDEALS framework to critically analyse which of the capitals is most important for Harvey Norman Holdings. Essential elements of the essay are:

1. In defining the context you must identify key measures for all six capitals as both inputs and outputs of Harvey Norman Holdings’ business model based on the IIRC’s business model framework.
2. From the six capitals identify and provide reasons for selecting three core capitals that are most important for Harvey Norman Holdings’ business model.
3. Further discuss the impact of each capital as it is transformed from an input to an output. For example, does the capital increase or decrease and is this beneficial or detrimental to value creation.
4. To conclude the essay, identify which is the most important of the six capitals that Harvey Norman Holdings needs to manage to create value.
5. In your closing reflection outline some critical concerns about the potential role integrated reporting has for improving financial reporting.

A reference list is required and does not form part of the word count. If you disclose information without having it properly referenced you will subject to the academic honesty and plagiarism policy. In line with the University policy and all such cases will be referred to the Faculty Discipline Committee. It is recommended that you use EndNote for referencing and the APA 6^th Style for your reference list.

Task overview: 

The purpose of the research report is to allow you to display:

• Discipline knowledge and skills;
• Critical, analytical and integrative thinking; and
• Effective communication.

This is a summative assessment.

Provisions for Disruptions

No extensions will be granted. There will be a deduction of 10% of the total available marks made from the total awarded mark for each 24 hour period or part thereof that the submission is late (for example, 25 hours late in submission – 20% penalty). This penalty does not apply for cases in which an application for special consideration is made and approved.