ACCT
1077Financial Accounting Theory,Semester 2, 2015
WIL
Report B
The
following assessments involve Work Integrated Learning (WIL) activities. The
focus of RMITâs WIL policy is for you to âlearn by doing in context and with
feedbackâ in realistic contexts. This assessed WIL experience makes a
significant contribution to development of your work-readiness capabilities by deepening your knowledge
of, and skills at, core accountancy practices concerning the practical
application of contemporary financial accounting regulation in the workplace.
Background Information and Reporting
Task
You are a junior accountant with Factional
Ltd, a large, publicly-listed company operating in the high-tech sector.
Factional Ltd has recently appointed a new chief Executive Officer (CEO), Mr
Magnus Bouche, who is due to take up his appointment very shortly. Last night,
at the invitation of a friend, you attended a prestigious charity function
which, coincidentally, was also attended by Mr Bouche. At one point during the
night, you found yourself standing quite
close to (but unobserved by) Mr Bouche and overheard a part of his conversation
with friends, including his comment that the first thing he intended to do as
CEO of Factional Ltd was to âtake a bathâ.
You are not sure of what it means to âtake
a bathâ, but the conspiratorial tone of the conversation and the fact that one
of Mr Boucheâs friends responded to the comment by asking about the likely impact
on Factional Ltdâs share price, while another laughed and said something (which
you couldnât quite hear) about Mr Boucheâsput options in Factional Ltd shares,
have aroused your suspicions.
This morning, you spoke confidentially to
your supervisor in the accounting department of Factional Ltd, Ms
BettaGolightly, telling her about the overheard conversation and asking her
whether she knew what it meant to âtake a bathâ. She replied that she had heard
of the Big Bath Hypothesis and knew that it related to earnings management, but
confessed that she didnât know about any likely capital markets impacts. She
then asked you to conduct some research and prepare a report for her, outlining
the following:
i. Possible motivations for an âearnings
bathâ
ii. How an âearnings bathâ may be achieved
iii. Whether an âearnings bathâ has
implications for a firmâs share price
iv. Whether an âearnings bathâ has
implications for the value of a firmâs stock options.
Your report will provide the basis for Ms
Golightlyâs decision on whether the matter should be brought to the attention
of Factional Ltdâs audit committee (a sub-committee of
Factional Ltdâs board of directors).
Report
Requirements:
Report Format:Your report must
conform to âBasic Reportâ structure â see âBusiness Report Handoutâ on
Blackboard. You should keep in mind that your report is intended to be
submitted to the audit committee of Factional Ltd.
Referencing:Your
report must be fully referenced in-text and also include a list of references.
The âRMIT Businessâ version of Harvard referencing is required. For details of this referencing system go to.dlsweb.rmit.edu.au/bus/public/referencing/index.html”>https://www.dlsweb.rmit.edu.au/bus/public/referencing/index.html.
Word
Limit:1,000
words (not including reference list).
Weighting:25%
Submission:Your
report must be lodged electronically via the course Blackboard site (includes
automatic submission to Turnitin). Note
that your report must be submitted as a Word document.Ensure you obtain
a Turnitin receipt and note its number. In rare instances, problems can occur
during the electronic submission process. In the event of a dispute over
whether your report was lodged correctly or on time, your Turnitin receipt can
provide evidence of this. Without a receipt, you have no evidence!! (Hard copy submissions are not
required.)
Marking:You
should refer to the marking rubric, on page 4 of this document, which indicates
the criteria upon which your report will be marked.All reports will be marked
electronically, and marks and comments made available to you electronically upon
completion of the marking process.
Due
Date:Week 11, by midnight on Sunday 11
October 2015.
Extensions and Late Submissions:
If
you wish to apply for an extension of time (7 days or less) for submission of a
WIL assignment report you must email the course coordinator BEFORE the due
date. You must include in your email a completed Application for Extension of
Time for Submission of Assessable Work form, and supporting documentation. If
you are seeking an extension of more than 7 days, then you must apply for
Special Consideration via the formal online process (NOT to the course
coordinator).
Further
information can be found at the following web address:.rmit.edu.au/students/assessment/extension”>http://www1.rmit.edu.au/students/assessment/extension.
All
WIL assignment reports will be marked as if submitted on time, then the mark
awarded will be reduced by 10% for each day (or part of a day) that the report
is late. For example, if an assignment
is worth 25 marks and is submitted 2 days late then you will be penalised 2 x
10% of 25 marks, which is 5 marks. These 5 marks will be subtracted from the
assessed mark.
WIL
assignment reports that are late by 7 days or more will not be marked and will
be awarded zero.
Please
note that extensions are normally only granted in cases of exceptional and
genuine hardship. This does not include inconvenience, poor planning, pressure
from work or work commitments.
Report Marking Rubric
Scoring level
Depth and quality of
research undertaken
Application of research to the task
Ability to apply appropriate accounting theories to
the context of the task
Ability to synthesise
information into a coherent and engaging report
Ability to correctlyacknowledge sources using the RMIT
Business Harvard Referencing system
Score
6 marks
6 marks
6 marks
4 marks
3 marks
Accomplished
(High Distinction)
· Materials referred to are relevant and
· References are drawn from a wide variety sources and
· References support the arguments presented
and
· Research is current and from a reliable
source
5-6 marks
·
The
report discussion clearly addresses the issues raised in the task and
·
The
report is highly relevant to the needs of the client and
·
The
report clearly outlines the major findings of the investigation and the
impact of these findings on the client
5-6 marks
· Your report makes clear links between your
research and current accounting theories and
· Your report explains these links with
clarity and applies these links to the task
5-6 marks
· The report is professionally presented and
· All grammar and punctuation is correct and
· The report is written in a style
appropriate for the client and
· The report is highly engaging and easy to
read and
· All sections of the report have been included
and correctly constructed
4 marks
· TheRMIT Business Harvard referencing
system has been used to clearly and accurately record all cited sources in
the report and
· A list of references has been provided which
is correctly formatted in the RMIT Business Harvard style
3 marks
Highly Competent
(Distinction/
Credit)
· Most
of the materials referred
to are relevant
· References are drawn from a good range of sources
· References generally support the arguments presented
· Research is mostlycurrent and from a reliable source
4 marks
· The report discussion addresses mostof the issues raised in the task
· The report is mostly relevant to the needs of the client
· The report outlines the major findings of
the investigation and the impact of these findings on the client
4 marks
· Your report makes links between your
research and current accounting theories but
at times these links lack clarity
· Your reportmostlymanages to explain these links and apply these links to
the task
4 marks
· The report is professionally presented
· The majority
of the grammar and punctuation is correct
· The report is written in a style
appropriate for the client
· The report is engaging and fairly easy to read
· All sections of the report have been
included and correctly constructed
3 marks
· The RMIT Business Harvard referencing
system has been used to clearly and accurately record all cited sources in
the report
· A list of references has been provided which
is correctly formatted but
· Some
minor errors in the
citations and/or list of references
2 marks
Satisfactory
(Credit/Pass)
· Some of the materials referred to are relevant
· References are drawn from a limited range of sources
· There is a lack of cohesion between the references cited and the topic being
discussed
· Research is mostlycurrent and from a reliable source
3 marks
· The discussion addresses mostof the issues raised in the taskbut lacks some clarity
· The report at times lacks relevance and/or some of the conclusions drawn are
erroneous
· The report outlines the major findings but
lacks clarity in linking these findings to the clientâs needs
3 marks
· While some
attempts have been made to link accounting theories to your discussion these links lack clarity
· Your reportdoesnot manage to explain these links clearly and apply these links
to the task
3 marks
· Improvement
is needed in the report presentation
· There are some errors in grammar and punctuation
· The report is mostly written in a style appropriate for the client
· The report is not engaging and/or is not
easy to read
· All sections of the report are included
but there are some errors in these
sections
2 marks
· The RMIT Business Harvard referencing
system has been used to record cited sources in the report but there aresome major errorsin these citations
and/or
· A list of references has been provided but
there are errors in the construction
of this list(not all sources are cited)
1 mark
Unsatisfactory
· There is a lack ofevidence of relevant research
· The research presented is too narrow
· The research presented does not support
the topic
0-2 marks
· The report discussion fails to address most of the issues raised in the task and the
discussion lacks clarity
· The report discussion lacks relevance
and/or most of the conclusions drawn are erroneous
· The report does not outline the major findings
0-2 marks
· Little
or no attempt has been
made to link accounting theories to the discussion and /or the links made are
incorrect
· Your reportdoes not manage to explain these links and apply these links to the
task
0-2 marks
· Major
improvements in the
presentation of the report are needed
· There are many errors in grammar and punctuation which need correction
· The report is written in a style that is inappropriate, the report is not engaging and/or is not easy to read
· Not all sections of the report have been
included
0-1 marks
· The RMIT Business Harvard system has not been
used to record cited sources in the report and/or
· No List of references or serious errors in
the construction of this list
0 marks
Total
/25
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