ACC/ACF2100 Financial Accounting Semester Two 2022

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ACC/ACF2100 Financial Accounting Semester Two 2022

Individual Assignment

Task Details

Background (Hypothetical situation)

You  are  a  Senior  Accountant  working  with  the  accounting  firm,  Sylvan  &  Thomson Accountants. You are currently  leading a team on an engagement to  provide accounting services to a client, J.P.  Fernsby Sports  Ltd. The engagement involves  preparation of the financial reports and the sustainability report for J.P. Fernsby Sports Ltd.  Sam Caddel is the Chief  Financial  Officer  of J.P.  Fernsby  Sports  Ltd  and  is  seeking your  advice  around the concept of double  materiality. They are  unsure of what the double  materiality approach entails and the implications for the company and its reporting. They have requested you prepare a report that they can present to the company’s management team.

Required

Prepare a report for your client, J.P. Fernsby Sports Ltd, explaining the concept of double materiality, reasons for adopting the double materiality approach, and implications for the company.

Your report should contain the following sections:

•   Title page*

•   Table of contents*

•   Executive summary*

•   Introduction

•   Discussion

•   Conclusion and recommendations

•   Reference list*

*not included in word count

Additional Information

•   Word count 1200 words (+/- 10%)

•   Approximately 10 references should be used

•   In-text citations and reference list should be consistent with the American Psychological Association (APA) style referencing, see:

https://www.monash.edu/learnhq/write-like-a-pro/acknowledge-sources

•   Turnitin can help you discern when you are using sources fairly, citing properly, and paraphrasing effectively in accordance with University policy:

https://guides.lib.monash.edu/turnitin/using-turnitin

•   Tables and figures are optional

•   For guidance in preparing assignments visithttps://www.monash.edu/learnhq

•   See Marking Rubric for marking details

Useful resources

Here are some useful starting points which will help you in researching double materiality:

•  https://www.globalreporting.org/media/r2oojx53/gri-perspective-the-materiality- madness.pdf

•  https://www.globalreporting.org/media/jrbntbyv/griwhitepaper-publications.pdf

Penalties for late lodgement

A penalty of 10% of the total mark allocated to this assessment task will be deducted for        each day, or part thereof, it is late. Tasks submitted more than seven days after the due date will receive a mark of zero for that task.

Special consideration

Information about special consideration and extensions is available here:

https://forms.monash.edu/special-consideration

Return of marks:

Marks will be made available on Moodle within 10 working days.