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BSc Accounting and Finance

Financial Reporting

07 33175

Assignment:

Prepare a report discussing the non-current assets of a FTSE250 company which:

· discusses how the company has applied the requirements of International Financial Reporting Standards when accounting for its non-current assets, with reference to both the requirements of the accounting standards and the accounting policies adopted by the company, and

· analyses the non-current assets of the business, including a discussion of the changes to non-current assets when compared to the prior year results.

Notes on the task:

· Please choose one FTSE250 company from a list at this link. The companies are listed alphabetically.

· A maximum of four students can choose any one company. If four students have already chosen your preferred company, you will need to select a different company.

· Once you have chosen your company, please enter your name on the spreadsheet to indicate your choice.

· You will need to choose your company by 17 February 2023. Any students who have not chosen by this date will be allocated a company. The final list will be circulated on 21 February 2023.

· You will find the company Annual Report on the investor relations section of the company website or by searching the company register on the Companies House website which can be found at this link. To find your company on the Companies House website, please enter your company name in the search box and select the ‘Filing History’ tab to view and download the Annual Report.

· Your report should only discuss the non-current assets and accounting standards covered within this module (i.e., IAS 16 Property Plant and Equipment, IAS 40 Investment Properties, IAS 38 Intangible Assets, IAS 23 Borrowing Costs, and IAS 36 Impairment). Please ignore any other non-current assets held by a company that have not been covered on this module.

· You should use data from all relevant areas of the Annual Report, which may include the accounting policies, statement of profit or loss, statement of financial position, statement of cash flows and the notes to the financial statements.

· The word limit is a maximum of 1,500 words. References, tables, figures, and the appendix do not count towards the word count.

· Please include relevant extracts from your company’s financial statements in the appendix.

· The use of external sources must be appropriately cited and referenced. You are required to use the Harvard referencing style.

Module Learning Outcomes:

LO 1. Explain and critically evaluate accounting for tangible and intangible assets, inventories, tax, provisions, or the reporting of financial performance.

LO2. Explain the information in published financial reports.

Grading Criteria:

Please refer to the marking rubric in the appendix for details of the grading criteria.

Feedback to Students:

Both Summative and Formative feedback is given to encourage students to reflect on their learning that feed forward into following assessment tasks. The preparation for all assessment tasks will be supported by formative feedback within the tutorials/seminars. Written feedback is provided as appropriate. Please be aware to use the browser and not the Canvas App as you may not be able to view all comments.

Plagiarism:

It is your responsibility to ensure that you understand correct referencing practices. You are expected to use appropriate references and keep carefully detailed notes of all your information sources, including any material downloaded from the Internet. It is your responsibility to ensure that you are not vulnerable to any alleged breaches of the assessment regulations. More information is available at https://intranet.birmingh am.ac.uk/as/studentservices/conduct/misconduct/plagiarism/index.aspx.

Appendix: Marking Rubric

Criteria

70% +

First class

60 – 69%

Upper second class

50 – 59%

Lower second class

40 – 49%

Third class

39%>

Fail

Total

pts

Discussion of accounting treatment (30%)

An excellent discussion of the application of all relevant accounting standards and the company's accounting policies.

Demonstrates an excellent understanding of the accounting standards and how they apply to the chosen company.

Generally, a very good discussion of the application of the accounting standards and the company's accounting policies. However, the connection to the requirements of the accounting standards could have been improved in places.

Overall, demonstrates a very good understanding of the accounting standards and how they apply to this company.

Some good discussions of the accounting policies adopted by the company. However, the discussion of the requirements of the accounting standards occasionally lacked depth, was incorrect or omitted in places.

The report may also include some content which was not relevant to the assignment requirement.

An attempt has been made to discuss the accounting policies adopted by the company – however, these were brief or contained some inaccuracies.

The discussion of the requirements of the accounting standards is limited or has been omitted completely.

The report may also include significant content which was not relevant to the assignment requirement.

The discussion of the accounting treatment provided in the report does not meet the requirements of the assignment brief.

30 pts

Analysis and explanation of the changes to non-current assets

(30%)

An excellent analysis of the changes to non-current assets, which contains some effective analysis methods.

The explanation of the changes is fully justified and convincing.

Generally, a very good analysis of the changes to non-current assets.

The justifications for movements are reasonably well explained but occasionally lack conviction.

An attempt has been made to analyse the changes to non-current assets – however, the analysis is brief or contains inaccuracies.

Explanations are sometimes unjustified or lack conviction.

The analysis contains errors or is incomplete.

Explanations are missing, unjustified or lack conviction.

The analysis and explanation of the changes to non-current assets provided in the report does not meet the requirements of the assignment brief.

30 pts

Use of relevant information contained in the Annual Report (15%)

All relevant information from the latest Annual Report has been used.

Appropriate extracts have been included from the financial statements.

Most of the relevant information from the latest Annual Report has been used.

Extracts from the financial statements are mostly appropriate.

The report uses key pieces of relevant information, but there are several pieces of relevant information that have not been used.

Extracts from the financial statements are somewhat appropriate, but there may be missing pieces of information, or the information used is not always appropriate.

Report omits significant relevant information.

Report uses information from the Annual Report which is not relevant to the requirements of the assignment.

Extracts from the financial statements are mostly inappropriate, or there may be significant missing pieces of information.

Incorrect information has been used in the report.

Report does not include any extracts from the financial statements.

15 pts

Report structure

(10%)

A well-structured answer, with an excellent report structure.

A well-structured answer – however, the report structure lacks certain aspects.

A reasonable attempt at a report – however, there are areas where it has not been presented correctly.

The structure of the work is satisfactory – however, it is not in report format.