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AYB311 Financial Accounting Issues

Question

Answered

Question:

Knowledge and Technological Skills

This assessment item assesses the following learning outcomes:Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.

Higher Order Thinking (HO)

2.2 Exercise independent judgment and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.

Be professional communicators in an intercultural context (PC)

3.1 Use information literacy skills and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.

Plagiarism

This unit uses the text matching tool in Blackboard. You can submit a draft version of your assignment prior to submitting your final version to allow you to view your matching report and make any corrections in relation to referencing and cited work. When you submit the final version of your assignment, the system will generate a final text matching report for the Unit Coordinator.

Please note that this system is a software tool, and you should not rely on it to detect all plagiarism. You are responsible for knowing what does and does not constitute plagiarism. The Unit Coordinator will use methods in addition to this electronic means to identify plagiarism. You should be aware of the MOPP in relation to academic dishonesty and plagiarism specifically. 

Task

Investigate and critically evaluate contemporary accounting issues in the annual report of an ASX-listed company- NEXTDC Limited (ASX: NXT)Peruse the 2020 annual report of NEXTDC Limited and answer the following questions: 

Part A: Corporate Governance 

There is a substantial body of evidence linking superior corporate outcomes with the existence of an audit and risk management committee (ARC).  The superior outcomes are strongest for firms with:

-an ARC with an independent ARC chair;
 
-an ARC with majority independent members; and,
 
-an ARC with a higher proportion of members with accounting and risk management expertise.

Required:

-Analyze the ARC of NXT Limited against these characteristics.  Determine and reportif the ARC of NXT meets the characteristics by completing the Appendix 1 (attached on page 6 of this document).
 
-Write a short literature reviewto explain and discuss why these ARC characteristics may be beneficial for a company and its shareholders, referring to at least 6 academic journal articles. 

Part B: Accounting choice and quality

Amongst other relevant topics, the auditor of NEXTDC Limited (NXT) - PwC communicated the following key audit matters (KAMs) to the Audit and Risk Committee:

− Data centre services revenue recognition

− Non-current asset additions

Required:

-Why are auditors concerned about these two reporting areas? (suggested word:150 words)
 
-Assess whether the NEXTDC Limited (NXT)’s accounting policies on ‘revenue recognition’ and ‘cost capitalisation’ could lead to financial misstatements (deliberate or unintentional), or opportunities for earnings management due to its application. Explain your response using the annual report and academic literature applying appropriate accounting theories. (suggested word: 400 words)

Part C: Capital Market Research Structure, format and other requirements

-The Research Paper should include a title page, a table of contents, discussions, and analyses in appendices addressing ALL questions from Part A to C (include appendices) and a reference list. An introduction and a conclusion are NOTrequired.
 
-Use Times New Roman/Arial/Calibri font size 12 and at least 1.5 spacing.
 
-You must cite at least tenscholarly sources such as published research articles, academic books, conference papers, and textbooks (note that published research articles rank highest as they are peer reviewed). Non-academic sources such as news articles and business reports etc. will help you in the analysis sections of the report, but their use is in addition to the minimum scholarly sources. Lecture slides are not acceptable as a source. The annual report should be cited where necessary and included in the reference list.
 
-Your word count begins with the heading for Part A and ends at the end of Part C. All headings and in-text references are included in the word count. The reference list, appendices and attachments are excluded from your word count. However, the appendices should only include analytical tables, graphic results and necessary workings. Any discussions included in the appendix will NOT be marked. All your discussions should be included in Parts A-C.
 
-Include your overall word count on your title page.

Resources to assist with this assessment

-The lectures in weeks 1-6 help you to understand what content is required in the assignment.
 
-In the lecture in week 7, the requirements of the assessment will be discussed with an opportunity for you to ask questions.
 
-Read the CRA carefully as it is an accurate reflection of how marks are allocated, and it will assist your understanding of what is required.

AYB311 Financial Accounting Issues

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