The following matters should be given particular attention:
1. Writing assignments must not exceed the word counts indicated. Double space your pages, use a 12-pt Times New Roman font, use 2 cm margins on all four sides of your page.
2. Your essay must include an abstract/synopsis, introduction, essay body that clearly addresses the problem areas, a conclusion and a properly referenced bibliography. (refer to the research essay marking rubric for further guidance)
3. Evidence of extensive research beyond the prescribed text is required. Ensure these are referenced appropriately in your bibliography. Refer to the statement regarding plagiarism.
4. NO extensions will be granted unless supported by appropriate documentation prior to the due date.
5. This assignment must be handed in for successful completion of the course and will count 20 marks towards the final mark.
6. The word count for the research essay is 3000 words. Please refer to the Research Essay Marking Rubric for the specific allocation of word count for each specific section of your research essay (refer point 2 above).
7. Points (fractional marks) have also been allocated to each specific section of your research essay.
8. The research essay is to be conducted in groups of two. Students do not have the option to extend or reduce the size of the group. If the class has an odd number of students then one student must undertake the assignment on their own.
9. Groups must select a company from the Australian Securities Exchange (ASX) website and download the 2014 annual report. Groups cannot do the same company and preferably from different ASX sectors and should discuss their selection prior to commencing their research essay. No banks allowed.
RESEARCH ESSAY TOPIC
“Income is often described as a ‘flow’ as distinct from a ‘stock’ (e.g. of net assets or capital). Companies do have … net revenues. But that is only one part of the increment in wealth.” Chambers, R. J., 1983, ‘Price Variation and Inflation Accounting, McGraw-Hill Book Company, Sydney, p34.
Today AASB / IASB distinguish the ‘flow’ as either revenue or gains therefore acknowledging the distinction made by Chambers.
Select a company from the Australian Securities Exchange website and download the 2014 annual report.
- With reference to the above statement describe what you understand by the term ‘income’ and how they are measured using examples from your selected annual report.
- Discuss ‘income’ and the problems of measurement in the context of the present AASB / IASB standards and framework.
- Evaluate the categorisation and treatment of ‘income’ in your annual report in the context of AASB / IASB standards and framework.
- Comment on the relationship between the measurement of ‘income’ and decision useful information with examples from your selected annual report.