ACCT 3043 Intermediate Accounting II
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ACCT 3043
Intermediate Accounting II
3rd Project Assignment (20%)
Format
Obtain a copy of the latest available annual report and accounts of a public company listed either on Hong Kong Stock Exchange (HKEX) or London Stock Exchange (LSE) of your choice. Annual report and accounts can be obtained online by going to the relevant company website. These accounts will comply with International Accounting Standards (IAS/IFRS/HKAS/HKFRS).
Requirements
Write a mini research report to explain and discuss how the company has applied the key international accounting standards (IAS/IFRS index is shown at the back of the textbook and the selected IAS/IFRS should relate to any chapters of Chapter 9 to 14 of the Intermediate Accounting II course, including IAS 10, IAS 12, IAS 19, IAS 37, IFRS 2, IFRS 9, IFRS 13, and IFRS 16), including but not limited to: -
– Discuss how the IAS/IFRS chosen applies in the commercial world with reference to the published accounts.
– Comment on the decision usefulness of the reported information in terms of relevance and faithful representation within the conceptual framework.
– Explain the accounting for the recognition, measurement, presentation (reporting) practices in the financial statements
Length of report depends on the number of team members (excluding the cover page,
table of contents, list of references and appendix):-
– 2-3 persons (min. 800 words; max. 1,000 words)
– 4 persons (min. 1,000 words; max. 1,200 words)
– 5 persons (min. 1,200 words; max. 1,400 words)
Number of IAS/IFRS chosen depends on the number of team members:-
– 2-3 persons (min. 2; max. 3)
– 4-5 persons (min. 3; max. 4)
Letter grades A, B, C, D, E to be awarded.
All team members will receive the same grade.
This assignment contributes 20% of the total score.
Please note:
– Make sure the financial statements are prepared in accordance with the requirements of IAS/IFRS by the company of your choice.
– Do NOT select companies in the following industrial sectors: Banks, Financial, Insurance (life & non-life), equity Investment Instruments, and Media.
– You are required to submit the name of the company you have chosen and to get
approval of your teacher via email by end of week 4 before commencing the assignment. Different groups have to choose different companies and first come, first served.
– Do NOT use summary financial statements.
Submission
– You must attach a cover sheet, duly completed, to your assignment.
– The report should be typed, printed in black ink, paginated, and on A-4 white paper.
– The page layout should use double-spacing, font size 12 and have 2.5 cm margin on all sides.
– List of references and citations should be provided where appropriate in appendix.
– A soft copy in WORD file should be uploaded to ispace and a printed copy should be handed in to your TA on or before the due date.
– Late submission will receive a penalty of 10% deduction from the earned total scores. Reports submitted two weeks after the deadline will receive an “F” grade.
Important Notices
– Please note that the college’s rules and penalties on cheating, collusion and plagiarism apply to all assessed work.
Schedule (deadlines)
Voluntary forming of group and selection of the company |
by end of week 2 |
Register with TA by following the instructions issued by TA. |
Confirmation of company chosen |
by end of week 4 |
Get approval of teacher via email. First come, first served. |
Uploading of a copy of the financial reports with disclosure notes of the approved company to ispace |
by end of week 5 |
Submit the annual report & accounts with disclosure notes to the drop box on ispace. |
Submission of final report |
by end of week 12 |
Submit a soft copy to the drop box on iSpace and a printed copy to TA. |
Useful links
Hong Kong Stock Exchange
London Stock Exchange
HK Accounting Standards / HK Financial Reporting Standards
International Accounting Standards Board
https://www.londonstockexchange.com/ http://app1.hkicpa.org.hk/ebook/main.php
www.ifrs.org
2022-09-16