闪电代写 -代写CS作业_CS代写_Finance代写_Economic代写_Statistics代写_代码代做_IT代写_加急帮助

Hello, dear friend, you can consult us at any time if you have any questions, add WeChat: daixieit

ACCT90004

Accounting for Decision Making

Department of Accounting

Group Assignment: Collingwood Football Club Ltd

Semester 1, 2023

Assignment conditions:

Due Date	Thursday 11 May 2023 no later than 11 pm. (Week 10)
Word length	4,000 words including working papers, and references.
Assessment value	Assignment is worth 15% of your overall grade.
Assignment submission	The assignment is to be submitted electronically in the Accounting for Decision Making subject on the LMS.
Assignment presentation	Assignment should be double-spaced with left and right margins of 3 cm and top and bottom margins of 2.5cm.
Assignment cover sheet	A completed cover sheet, which may be downloaded from the Assignments section of the LMS must also be submitted and attached to your assignment.
Assignment contribution	Submission confirms that all group members are submitting original work and have contributed equally to the final paper.

Assignment Learning Aim:

The assignment group will research, investigate, analyse, and report on the 2022 Annual Financial Report of the Collingwood Football Club Limited.

Assignment Learning Objectives:

• The assignment group will research the Conceptual Framework, Accounting Standards AASB 15, AASB 1053, AASB 1060, AASB 138, AASB 137 and AASB 136 and implement that research to support the discussion of general-purpose financial reporting and differential reporting and the appropriate treatment of specific assets and liabilities.

• The assignment group will conduct an analytical review of performance.

• The assignment group will research the Australian Securities Investments Commission (ASIC) requirements in relation to the purpose of an Auditor’s Report and auditor independence.

• The assignment group will collaborate, discuss, debate, and communicate their findings to provide the foundation of the final report.

• The assignment group will write a 4,000-word report. Included in that word count, will be all supporting data and appendices.

• The group will reference any research using the method APA 7 in their report. (Note: the reference list will not be included in the word count).

Assignment Notes:

It is often said that Melbourne is the sporting capital of Australia – some might argue it is the sporting capital of the world. Melburnians pride themselves on being mad sports followers. The sporting culture of the city is evidenced by hosting international sporting events such as the F1 at Albert Park, the Australian Open, one of only four grand slam tennis events, the running of the famous Melbourne Cup horse race and there’s the Boxing Day cricket test held at the Melbourne Cricket Ground (MCG). There is also the Australian Football League (AFL) competition, more commonly known as “the footy” .

Your assignment group has decided to embrace the sporting culture in Melbourne. It is a widely held view that everyone needs to “pick a footy team” and your group is considering barracking for the Collingwood Football Club.

The Collingwood Football Club (hereafter referred to as “the CFC”) is a professional Australian rules football club based in Melbourne that competes in the Australian Football League (AFL), the sport’s elite competition. The CFC was formed in 1892 in the traditionally working-class Melbourne suburb of Collingwood. The CFC plays home football games at the Melbourne Cricket Ground (MCG). The players’ home guernsey consists of vertical black and white stripes, matching the Australian bird the magpie, which is why the club is nicknamed the Magpies or colloquially referred to as “the Pies” . Sponsorship of the guernsey is one of the most valuable sports sponsorships in Australia. The CFC is regarded as one of Australia’s most popular sports clubs. However, it is traditionally reviled by non-Collingwood supporters, and it is often said “You either love ‘em or you hate ‘em” .

Your assignment group is to research the Collingwood Football Club and review the 2022 Annual Report of the Collingwood Football Club Limited (the CFC) to complete the report tasks detailed below.

This assignment relates to the 2022 Annual Report of the Collingwood Football Club Limited.

https://resources.collingwoodfc.com.au/aflc-coll/document/2022/12/07/849cc8e4-18a6-

4982-840e-b613c481a6de/2022_ANNUAL-REPORT_WEB_2.pdf

The Official website of the Collingwood Football Club can be found at:

https://www.collingwoodfc.com.au/

Report Tasks:

Task 1

Report Structure

Task

(i) The report should contain an Index page and a Synopsis (Abstract) of the report (suggested word count of 250 words).

Task 2

General Purpose Financial Statements and Differential Reporting

Tasks

(i) What is differential reporting and how does it apply to the CFC? Explain the reasons for and objective of AASB 1053 Application of Tiers of Australian Accounting Standards. Include references to specific paragraphs of the standard.

(ii) Explain the impact of AASB 1060 General Purpose Financial Statements – Simplified

Disclosures for For-Profit and Not-for-Profit Tier 2 Entities on the financial statements of the CFC. Include references to specific paragraphs of the standard.

Task 3

Intangible Assets

Task

(i) Discuss whether it would be appropriate to recognise football players as intangible assets in accordance with AASB 138 Intangible Assets. Include references to specific paragraphs of AASB 138 and other relevant references to support your answer.

Task 4

Scenario

Task

(i) Consider the following hypothetical scenario: The CFC loses its licence to compete in the AFL competition and is suspended from or loses its right to represent the Australian Football League (AFL). Explain what would happen to any liability due to the players of the CFC. Include reference to the 2022 Annual Report of the AFL.

Task 5

Revenue Recognition

Tasks

(i) Explain how revenue from season’s tickets sold to members by the CFC should be recognised. Include reference to the five-step model framework in AASB 15 Revenue from Contracts with Customers (specific amounts are not required).

(ii) Explain how the Unearned Income in the Consolidated Statement of Financial Position

would have arisen and why it is recognised as a liability.

Task 6

Analytical Review

Tasks

(i) Conduct an analytical review comparing the 2021 and 2022 results in the Consolidated Statement of Comprehensive Income of the CFC. How would you explain to the members of the CFC the reasons for the vastly different results in those years?

(ii) Discuss whether, as part of your analytical review, it would be appropriate to calculate

the return on equity of the CFC.

Task 7

Auditor’s Report

Tasks

(i) What is the purpose of the Auditor’s Report prepared by Deloitte attached to the

2022 Annual Financial Report?

(ii) Why is it important for the auditor to provide an Auditor’s Independence Declaration

to the Collingwood Football Club which is included on page 8 of the 2022 Annual Financial Report?

Task 8

Class Action

Task

(i) Media outlets have recently reported an AFL concussion class action has been lodged with the Victorian Supreme Court. Former players are seeking compensation in a landmark case against the AFL over the claim that there was “serious damage” cause by concussion-related injuries through head strikes. The action takes in players who played for AFL clubs between 1985 and March 2023. Discuss the potential impact of the lawsuit on the financial statements of the CFC.

References

Collingwood Football Club Limited 2022 Annual Financial Report

https://resources.collingwoodfc.com.au/aflc-coll/document/2022/12/07/849cc8e4-18a6-