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ACC203 Assessment Information Page 1 Updated: Ja ...
ACC203 Assessment Information Page 1 Updated: Janu ary 2021
Assessment 3 Information
Subject Code: ACC203
Subject Name: Financial Accounting 2
Assessment Title: Group Assignment
Assessment Type: Letter of advice
Word Count: 1,200 Words (+/ -10%)
Weighting: 20 %
Total Marks: 20
Submission: Via Turnitin
Due Date: Due by Week 10 by 15.55 AES T
Write a letter of advice in response to a few key accounting issues raised by a Managing Director of a
Case study background
Assume that you are a graduate accountant working for Clarke and associates , a public accounting firm
situated at 221 Queen Street , Melbourne , VIC 3000 . The manager of your firm, Mr Whi teHill Clarke has
asked you to draft a letter in response to an email received from a client – Susan Bruse , the managing
director of Global Ark Pty Ltd, raising a few accounting issues regarding his company – see the copy of the
email on the next page. The maximum length of the covering letter is 1 page. Please note that the business
letter needs to be on the front page. You should then address all the technical issues/discussion after the
letter, each on separate pages as attachments, followed by a Reference List. The maximum word limit for all
parts of the assignmen t should be 1,200 words.
• Part A: Technical component 15% - This mark covers the technical content of your advice and the
explanation on each of the issues, the calculations and the sources used.
• Part B: Communications skills – Letter Writing 5% - This ma rk covers the generic skills of business
letter writing; layout, clear meaning, structure and organisation, appropriate tone and grammar,
spelling and punctuation etc. throughout the whole assignment.
The assignment is designed to test the following skill s:
1. Your knowledge and your ability to research the issues and then apply the information appropriately
using judgement to correctly identify the relevant standards and legislation that relate to the issues
raised by the client.
2. Your written communication skills – business letter writing.
ACC203 Assessment Information Page 2 Updated: Janu ary 2021
Please note: Any work which has been copied or shared between groups will result in a Fail grade for
all students concerned. Therefore, please make sure that the answer to this assignment is your
group work and not copied or bou ght from any source. In completing this assignment , make sure
you r group follow the guidelines for assignments especially those relating to the presentation of
written work, late assignment policy and academic integrity.
Re: Accounting Issues: Year Ending 30 June 2020
From: Susan Bruse (susan @ global ark .com.au)
Sent: 24 th August 2020
To: Whi teHill Clarke (whitehill @ clarke andassociates.com.au)
Dear Whitehill ,
Thank you for your phone call this afternoon . As agreed I am emailing your regarding the accounting issues
we briefly discussed. By the way to assist the accounting team in our decision -making process, could you
please make sure you reference any relevant sources relating to your advice, for example, AASBs,
Corporations Act, and relevant websites.
Here are the two issues we are most concerned about:
1. Global Ark Pty Ltd gives warranties at the time of sale to purchasers of its products ( A3 printers ).
Under the terms of the contract for sale, the manufacturer undertakes to remedy, by repair or
replacement, manufacturing defects that become apparent within four years from the date of sale. As
this is the first year that the warranty has been available, there is no data from the firm to indicate
whether there will be claims under the warranties. However, industry research suggests that it is likely
that suc h claims will be forthcoming. It would be much appreciated if you could kindly advise the
accounting team whether the company should recognise a provision.
2. On July 2020, Global Ark Pty Ltd noticed that a number of its employees have been with the
company f or a number of years including some who have actually been working for more than 10
years. The company has always provided annual leave and sick leave to its employees. However,
our accounting team is not sure whether these employees are entitled to any ot her employee
benefits. It would be much appreciated if you could give the accounting team some clarification on
this matter and how to deal with this in our accounts.
Please respond by letter (not email) as I would like to present this to the Board. I look forward to hearing from
Managing director, Global Ark Pty Ltd
221 Queen S treet,
Melbourne , VIC 3000
Hint: Remember that your firm plans to charge the client for your advice; as a check ask
yourself if you would pay for the advice you have drafted!
ACC203 Assessment Information Page 3 Updated: Janu ary 2021
Learning outcome demonstrated
Develop information gathering and communication strategies to enable the provision of professional
advice to a client.
The assignment will need to be submitted electronically through the student portal – use the link
Any sources that you use need to be acknowledged in order to avoid plagiarism. Information on
referencing can be found in the Guidelines for Referencing and Presentation at the Kaplan website
using the following address: ( https://elearning.kbs.edu.au/mod/page/view.php?id=128881 )
In-Text Referencing and the Reference List
Sources of information must be cited both in the body of the text (in ‐text referencing) and the end of
the assignment (reference list). Failure to do so will result in penalties. Remember that when
referencing an Annual Report, it is a corporate document t hat does not have a particular author but
it will still require referencing any time you use information from it. Any other documents or books or
other references you use will also require referencing.
Penalties Regarding Referencing
• No in ‐text refer encing – deduct 2 marks
• Some in ‐text referencing only – deduct 1 mark
• No reference list – deduct 2
• Incomplete reference list – deduct 1 mark
Policy on Late Submissions
Penalties will be imposed on late assignment submissions in accordance with f ollowing:
• Number of days late Penalty 1* - 9 days 5% per day for each calendar day late deducted from the
total marks available.
• 10 - 14 days 50% deducted from the total marks available.
• After 14 days Assignments that are submitted more than 14 cale ndar days after the due date will
not be accepted and the students will receive a mark of zero for their assignment.
• Note Notwithstanding the above penalty rules, assignments will also be given a mark of zero if
they are submitted after assignments have been returned to students.
• *Assignments submitted at any stage within the first 24 hours after the deadline will be considered
one day late and therefore subject to the associated penalty.
ACC203 Assessment Information Page 4 Updated: Janu ary 2021
Important Study Information
Academic Integrity Policy
KBS values academic integrity . All students must understand the meaning and consequences
of cheating, plagiarism and other academic offences under the Academic Integrity and Conduct
What is academic integrity and misconduct?
What are the penalt ies for academic misconduct?
What are the late penalties?
How can I appeal my grade?
Click here for answers to these questions:
http://www.kbs.edu.au/current -students/student -policies/ .
Word Limits for Written Assessments
Submissions that exceed the word limit by more than 10% will cease to be marked from the point
at which that limit is exceed ed.
Students may seek study assistance from their local Academic Learning Advisor or refer to the
resources on the MyKBS Academic Success Centre page. Click here for this information.
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