Assessment Type: Individual research assessment
Purpose: To allow students to apply the technical knowledge of relevant accounting standards to financial reporting settings. This assessment relates to learning outcomes c, d.
Topic: Reporting and Disclosure of Intangible AssetsTask
Details: Each student is required to choose an ASX listed firm(Air New Zealand Limited)and analyse its 2019 financial statements. The analysis must focus on discussing the firm’s reporting and disclosure practices on intangible assets. In the discussion, detail the accounting policy that the firm follows in reporting, measuring and disclosing its intangible assets. The discussion must be supported by the requirements prescribed by AASB 138 and relevant academic and professional discourse.
Justify why the firm adopted the policy in its 2019 financial reports rather than other policies permitted under AASB 138. To achieve this, students must present an alternative economic outcome in terms of accounting profit and net assets, if the firm chooses a policy permitted under AASB 138 but different to the one that was used in its 2019 financial reports. Students are also required to research on the economic, institutional, historical and cultural backgrounds of the firm to make sense its accounting choice in relation to intangible assets.
Note that each student must choose a unique ASX listed firm, the firm must NOT be in mining or banking industry; so get in early and report to your tutor your choice of the firm, once it is locked in by your tutor, no other students in the subject (not just your tutorial class) are permitted to research the same firm.
Research requirements: Students need to support their analysis with reference to relevant material from the text and a minimum of eight (8) suitable, reliable, current and academically acceptable sources – this should include at least 2 peer-reviewed academic journal articles.
Presentation: 2000 + 10%word short report format. Title page, executive summary, table of contents, appropriate headings and sub-headings, recommendations/findings/conclusions, in-text referencing and reference list (Harvard – Anglia style), attachments if relevant. Single spaced, font Times New Roman 12pt, Calibri 11 pt or Arial 10 pt.
Marking guide: Interpretation and representation 20%
I have chosen Air New Zealand as my ASX listed company.