ACCG1001 Accounting and Governance
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ACCG1001 Accounting and Governance
Individual Business Report (20%)
Assignment type Individual Business Report
Assignment weight 20%
Submission mode via iLearn (Turnitin)
Submission Instructions:
• No extension will be granted. There will be a deduction of 10% of the total available marks made from the total awarded marks for each 24-hour period or part thereofthat the submission is late (for example, 25 hours late in submission - 20% penalty). This penalty does not apply for cases in which an application for Special Consideration is submitted within a reasonable time frame and approved.
Assignment Questions:
You are required to choose a company from the 5 listed below and write a business report to address the THREE questions listed on page 2.
You may access the details of your chosen company from any source such as the company website, its annual report etc
Companies to choose from
• ASX: SUL Super Retail Group
• ASX: UNI Universal Store Holdings Limited
• ASX: TRS The Reject Shop
• ASX: TPW Temple and Webster Group
• ASX: HVN Harvey Norman
Question 1
With reference to the latest annual report of your selected company, review the inventory disclosures made by the company and provide a discussion of how the company reports and accounts for inventory, referring to the material discussed in the week 4 & 5 lectures.
Your discussion should refer to the requirements of the accounting standard that governs the reporting of inventories - AASB 102 Inventories. Your discussion may also include details of the inventory system used, the inventory cost flow assumptions made, the impact of the cost flow assumption on the reported cost of sales and the valuation of ending inventory and any other relevant information that explains how the company reports and accounts for inventory.
Question 2
The ASX Corporate Governance Principles and Recommendations provides eight principles that publicly listed Australian companies may implement to demonstrate good governance. Provide a discussion of how your selected company has implemented the principles and recommendations of this document in its latest annual report. This discussion should clearly demonstrate your analysis
of how your chosen company reports on corporate governance principles and recommendations.
You can access a copy of this document at https://www.asx.com.au/documents/regulation/cgc-
principles-and-recommendations-fourth-edn.pdf.
Question 3
You are required to research how your selected company has applied the ASX Corporate Governance Principles and Recommendations to accounting and reporting inventory in its latest annual report. You must refer to at least two (2) governance principles from the list provided below, in your discussion as well as the requirements ofthe accounting standard AASB 102 Inventories. To undertake the research, you will be expected to review relevant academic and professional journals, and/or texts.
• Principle 4 – Safeguard the integrity of Corporate Reports.
• Principle 5 - Make timely and balanced disclosure
• Principle 7 - Recognise and manage risk
2021-12-26