ACC 80011 Strategic Cost Management
Swinburne University of Technology Faculty of Business and Law: Swinburne Business School ACC80011 Strategic Cost Management Strategy Analysis Assignment Your team has been asked by a potential investor to provide a strategic analysis of a global company of your choice. You will be required to undertake a thorough analysis of all aspects of the organization and any opportunities or challenges it may face from its macro environment. The potential investor is willing to commit a significant investment on the basis of your recommendations either to buy into this company or if already holding shares, increase their investment or divest. Specific Requirements: Must be done in a group of 4 students. Note: this is a group assignment and the participation by each group member is required in terms of effort and commitment; and quality of input. Assignment Requirements: Select a major global company. Some guidelines – include: 1) a publicly owned company (ie listed on a public stock exchange) will enable access to greater amounts of publicly available information; 2) a company with a major focus in few industries is preferable to a conglomerate, which operates across many unrelated industries. Gain instructor approval for your selection. Prepare a comprehensive report on your company and its Industry that addresses the following: 1. Provide an overview of the company, including its mission and/or values; organization structure and governance; its products or services; its locations, its stated capabilities and a summary of its most recent performance. 2. Undertake a comprehensive and targeted analysis of the external environment that will identify trends that may impact the industry and the company. This will require a specific definition of the industry in which the company operates and an analysis of the competing forces within that industry. As part of your recommendations you will need to determine how the company is competitively positioned. You should identify potential challenges (threats) and opportunities that would affect the company. (Note: many of these companies operate in various industries – pick the one that most contributes to overall revenue). 3. Undertake a comprehensive analysis of the company’s capabilities and its key strengths and weaknesses. This will require an analysis of its financial performance; its product/service portfolio; its operations etc. 4. Outline the company’s current strategies for the long term and evaluate them in the context of the challenges and opportunities you found in Requirement 2 and the strengths and weaknesses you found in Requirement 3. 5. Provide a conclusion as to the attractiveness of the company to an investor and make a recommendation as to buy or divest. Assignments are to be submitted on-line through CANVAS and need to be put through the Plagiarism Review function. Word Limit: 4,000-4,500 Due Date: Monday 4th November 5pm Marks: 40 marks
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ACC30008 Accounting Theory
ACC30008: Accounting Theory Assessment 2: Research Assignment Word limit: 2500 (+/- 10%) Weighting: 30% Due date: 5pm AEDT Monday 9 October 2017 Assessment overview This assignment is based on the case study entitled “Scaling-up for Sustainability: Integrated Reporting of Takeda Pharmaceutical” published in Sage Business Cases and can be accessed by the hyperlink: http://ezproxy.lib.swin.edu.au/login?url=http://sk.sagepub.com/cases/scaling-sustainability-integrated-reporting-takeda-pharmaceutical Please note that you are not required to answer any of the questions listed in this case study. You are only required to answer the following questions. Assessment details Assume that you are a graduate accountant at Takeda Pharmaceutical Company Limited, and as part of the graduate program you have been assigned to work with Koichi Kaneda, a senior director. In recent months, many listed companies including some Australian listed companies have sought Kaneda’s advice about integrated reporting. In response to this demand for information, Kaneda has tasked you to write a report for Chief Executive Officers of Australian listed companies explaining how a move from traditional corporate reporting to integrated reporting can benefit their company and its stakeholders. Your report should specifically address the following: 1. The capacity of traditional corporate reporting to assist corporations to meet the current social and environmental challenges. [note traditional corporate reporting includes the preparation of financial statements and standalone corporate social responsibility (CSR) reports, and reporting using sustainability tools (e.g. the Global Reporting Initiative (GRI), Greenhouse Gas Protocols, the Carbon Disclosure Project)] [approximately 450 words] 2 2. What is integrated reporting and how integrated reporting can address the limitations of traditional corporate reporting. [approximately 450 words] 3. How does integrated reporting differ from other forms of nonfinancial reporting e.g. CSR reporting, reporting using sustainability tools, the EU Directive on the disclosure of nonfinancial information. [Note: In particular, demonstrate the conceptual differences between integrated reporting and GRI G4 reporting] [approximately 400 words] 4. Advantages and disadvantages (or costs and benefits) associated with integrated reporting, and theoretically informed arguments as to how the company may benefit on balance, by adopting integrated reporting. [Note: refer to theories in accounting that explain why companies may adopt integrated reporting and based on those theories predict how the company might benefit by adopting integrated reporting] [approximately 550 words] 5. How relevant is integrated reporting to various stakeholder groups of listed companies (e.g., retail investors, institutional investors, lenders, environmental lobby groups, customers etc.). Your answer to this part should draw on theories explaining market reactions to corporate reports and capital markets research on the use of accounting and non-accounting information. [approximately 400 words] Additional guidance In this research assignment you will be providing your personal view based on research evidence, theory and original thought. In your assignment, you are expected to draw on: ? relevant accounting theories ? the International Integrated Reporting Framework issued by the IIRC (available at: http://integratedreporting.org/wp-content/uploads/2013/12/13-12-08-THE-INTERNATIONAL-IR-FRAMEWORK-2-1.pdf) ? scholarly articles from academic journals ? reports issued by professional accounting bodies, accounting firms (particularly, the Big 4), regulatory bodies, the IIRC, the GRI and other organisations ? official websites of professional accounting bodies, accounting firms (particularly the Big 4), regulatory bodies, the IIRC, the GRI and other organisations 3 ? media reports on integrated reporting Sustainability and integrated reporting is covered in Chapter 9 of your textbook. The theoretical knowledge necessary to successfully complete this research assignment is not confined to one or few topics but spread across many topics in this unit. The theoretical knowledge provided in Chapters 7, 8 and 10 of your text book are particularly relevant to this assignment. The class on topic 7 - “research skills and assignment workshop” is designed specifically around this assessment. You would benefit more from this class if you had already started your assignment and made sufficient progress in relation to each of the four questions prior to attending this class. This is because you will have a better understanding of the assignment and thus be able to clarify your doubts in this class. The assignment should take the form of a report and include an executive summary. The entire assignment should not exceed 2500 words (+/- 10 %) (excluding title page, table of contents, reference list and the executive summary, but including footnotes, endnotes and appendices). A reference list is required. Please provide a word count on the cover sheet. To avoid plagiarism, you are required to provide a reference whenever you include information from other sources in your work. Further details regarding plagiarism are available in Part C of the unit outline and will be discussed in class. Referencing convention required for this unit is the Swinburne Harvard System. Helpful information on referencing using the Swinburne Harvard System can be found at: http://www.swinburne.edu.au/lib/studyhelp/harvard_style.html Prior to submission of your assignment make sure your work is properly edited and proofread. Please use spelling and grammar checkers. You would like to obtain assistance from the Language and Academic Skills (LAS) Centre to improve your assignment and your writing skills. If you intend to obtain assistance from LAS then you should contact them as soon as possible. This can be done even before you have started working on your assignment. For more information about LAS and how to contact them - http://www.swinburne.edu.au/student/study-help/las.html You may also benefit from using Writer’s Diet (http://writersdiet.com/?page_id=4) - a free online tool that help you improve the quality of your written work.
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ACC30009 Analysis for Competitive Advantage
1 Swinburne University of Technology Faculty of Business and Law ACC30009 Analysis for Competitive Advantage Lecture 4: Assignment Guidelines Prepared by Dr. Eva Elijido-Ten RESEARCH: ? Find articles written on the relevant topics, i.e. strategic management literature like those who used Porter’s five forces analysis, generic strategies and the like. ? Both electronic databases and hard copy journals may be useful in searching for relevant topics. ? As a starting point, you may want to refer to the following library links: o http://www.swin.edu.au/lib/infogate/accnting.htm o http://www.swinburne.edu.au/lib/subjectguide/business_entr_manage.htm ? Our invited speaker from Swinburne University Library will show you how to access the electronic databases available in the library. READ PUBLISHED WORKS CRITICALLY: ? As you read the articles you’ve found, it is important to distinguish facts from opinions. Facts will strengthen your argument better than opinions. ? Make an attempt to identify errors in reasoning => this requires critical thinking which may not come automatically for many students but this ability can be enhanced through practice. Exhibit A provides a list of useful questions you could ask to help you to develop critical thinking. Exhibit A: Useful Questions to Ask ? What is the main argument in this article? ? How does the author develop the argument – does it flow smoothly from one point to the next? ? What reasons/explanations/evidences are used to support the argument? ? Do these explanations and factual information appear to be well-researched and accurate as far as you know? ? What are the author/s’ underlying assumptions? Are these explicitly stated? Are these reasonable? ? Is the author defending a particular point of view? ? Is there any evidence of deliberate bias? ? Are the materials dealt with superficially or in too much detail? Is there any irrelevant material included? Source: Marshall & Rowland (1992), A Guide to Learning Independently. GUIDELINES IN WRITING YOUR REPORT: ? Your report should be up to 4,000 words. ? The report should be in an easy-to-read font (10 or 12 point Times New Roman is recommended) ? All pages of your report must be page numbered and in correct sequence. ? Your final work to be submitted should be in the following format: 1. Assignment Cover Sheet – download from BB 2. Table of Contents - detailing by page number the location of the sections of the report. 3. Executive Summary - a brief summary of the aim of the report and its main findings as well as the conclusions/recommendations. These first three parts are not included in your word count as these are not considered part of the main report. 4. Introduction – This should form about 10% of the total length of your report. As a general rule, you should start from general to specific, i.e. ? introduce your topic and provide some background or overview; ? limit the scope of the discussion & define and state the topic/s covered; ? present the plan of coverage including your line of argument 2 5. The Report & its Body – it is advisable to divide the body of your report into two main headings and further sub-headings, e.g. ? 1.0 Introduction ? 2.0 Company Research o 2.1 Company & Product Profile ? 2.1.1 Brief Overview of Company ? 2.1.2 Analysis of Products Prior to Launch ? 2.1.3 Discussion of New Product o 2.2 Company’s Past Performance ? 2.2.1 Past Two Years Profitability ? 2.2.2 SWOT Analysis ? 2.2.3 SBSC/PESTLE Analysis o 2.3 Company’s Current Strategy and Competitive Advantage ? 2.3.1 Circumstances Leading to Product Launch ? 2.3.2 Explaining the Company’s Generic Strategy ? 2.3.3 Strengthened Competitive Advantage OR Failure … ? 3.0 Industry & Strategy Research o 3.1 Five-Force Industry Analysis ? 3.1.1 Competitors ? 3.1.2 New Entrants (and so forth …) o 3.2 Strategic Recommendations ? 3.2.1 Focus on new markets (as an example) ? 3.2.2 Re-inventing corporate image (another example …) ? 4.0 Conclusion ? 5.0 References ? 6.0 Appendices 6. Conclusion – sum up your argument with reference to your report. You could mention your recommendations (if any) and/or future directions as well as wider implications. No new material should be introduced in this section. Many people attempt to write the body of the report first, the conclusion next and then write the introduction last. The body of the report is the main part where you will develop your argument and its structure should be driven by the requirement of the assignment. 7. Appendices - supplements the information contained in the main body of the report (Analysis Section). It is the method of providing adequate detail for the reader who is interested in more detailed information without breaking the main strand of the argument of the report. Appendices must follow the flow of the main report, not a jumbled mess placed at the back of the report. Appendices should be clearly labelled/ page numbered (e.g. Appendix 1, page 1 of 4) and clearly identified in the body of the report. Appendices should be referred to in the contents page. 8. References - referencing of material (books, journal articles, professional publications etc) consulted and used in the preparation of your report must be included in the report. MISCELLANEOUS REMINDERS: ? As this assignment requires team effort, it is important to find your team mate as early as possible and start allocating/assigning who is to do/research what. It is also important to schedule meetings every so often to get feedback from your team mate. ? Remember to re-read the questions as you are writing the report. When you have completed your report, check it against the question to make sure you have answered all parts correctly. ? Headings - clearly label information in your report with headings and/or sub-headings. ? Spelling - use word processing spell checkers and read your finished work through to check for spelling and grammatical mistakes. ? Language - the language to be used should be clear and concise. Formal English is required, colloquial English is not appropriate for report writing. (Note: first person singular and plural is appropriate for the personal touch when necessary, however, the third person is impersonal and formal and is preferred in report writing). A thesaurus may be of assistance to avoid using the same words over and over again. ? Writing is a skill and will improve over time; therefore preparing drafts can assist in the development of this skill.
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ACC60005 Accounting Principles
This group assignment involves a thorough financial analysis and assessment of a business organization. Each student must choose a company listed on the Australian Securities Exchange (ASX). The group size should ideally consist of four members. Each group should collect financial data for the selected company. The financial data should span a period of three consecutive recent years. The requisite financial data can be obtained from the ‘DatAnalysis’ database, which can be accessed online via the Swinburne Library, or the company’s website. Each group should perform the following tasks: • Examine the selected organization’s profile in terms of its history, strategy, current size, current market(s), as well as current products or services. • Assess the organization’s profitability, efficiency, liquidity, solvency, and share market performance over the selected time period .As part of this task, a selection of relevant financial ratios must be calculated from the published financial statements but reliance may be placed on the ratios pre- calculated in the Morning Star data base within “DatAnalysis’ in addition to the required calculations. • Make an explicit recommendation as to whether or not the selected organization is financially stable and performing in line with market expectations • The length of this assignment report should not exceed 3000 words; this excludes calculations, tables ,charts and excludes wording used in the appendices.The total report (including appendices is assessed). Copies of the marking rubrics for this assignment report are available. Total Mark out of 40% for the written assignment Please refer to the next page regarding how to structure your report for this assignment. Please structure your assignment report as follows, using these headings: Title page • Include the text ‘Group Assignment’ followed by the name of the organization that has been selected • Unit Code – ACC60005 • Unit Name – Accounting Information and Managerial Decision Making • Unit Convenor’s Name – Neville Allport and the class lecturers name • Word Count – specify the word count, excluding calculations, tables and charts as a guide the word count for Financial Ratio Analysis section would be greater than for the remaining headings. • Name and Student ID Number of each member in your group • Statement of originality [You may attach the completed official Assignment Cover Sheet] Contents page A table of contents showing headings and corresponding page numbers. Executive summary A very brief summary of the objective of this assignment, the main findings, and the main reasons behind your recommendation of whether or not the selected organization is financially stable and performing well as an economic unit meeting shareholder expectations. Organization’s business profile Examine the history, strategy, current size, current market(s), as well as current products or services. Financial ratio analysis Use the following sub-headings, and in this order: • Profitability • Efficiency • Liquidity • Solvency • Share market performance For each sub-heading, do the following: • In your report, provide (1) a brief narrative explaining what the corresponding sub-heading attempts to measure, generally and. • (2) a summary of an overall assessment of the sub-heading, based on the combined analysis of all ratios discussed therein. In the report, provide a reference to the appendix as you make a commentary (with reasons) as to whether the trend in the corresponding ratio is indicative of improvement or deterioration. An Appendix (or appendices) • Provide an appendix detailing each selected financial ratio in the corresponding subheading including the general formula used and a brief explanation as to what the ratio attempts to measure (not in word count but assessed) . Conclusion • Discuss any pertinent past trends and future expectations about the organization that might influence your overall assessment. Recommendation • Make a recommendation as to whether or not the selected organization is financially stable and performing in line with market expectations Justify your recommendation based on your overall assessment, taking into consideration future expectations. Indicate whether you recommend buying, selling or holding shares in the selected organization. References List all your sources of information. .
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ACC80003 Major Assignment
Page 1 of 4 ACC 80003 Major Assignment On 4 January 2016, the value of shares in Dick Smith Holdings having fallen by more than 80% since they were listed on the ASX in December 2013. A halt in trading was requested. The following day, Dick Smith Holdings Limited (and associated entities) was placed into administration by its major creditors National Australia Bank (NAB) and HSBC Bank. Dick Smith Electronics, in its own company reports, attributed failure to cyclical factors specific to the company, namely unexpected weakness in sales and constraints on its ability to finance inventory investment. But market analysts have suggested that structural company-specific factors; in particular, poor corporate governance arrangements, low transparency in financial reporting and internal control system was also contributed to this failure – which is to some extent, auditor responsibly to assess. In Australian Auditing standard, ASA 315, it requires that auditors must have good understanding of the entity and its environment, including the entity’s internal control system, which includes, but not limited to: (a) Relevant industry, regulatory, and other external factors and the applicable financial reporting framework. (Ref: ASA 315, Para. A25-A30) (b) The nature of the entity, including: (i) its operations; (ii) its ownership and governance structures; (iii) the types of investments that the entity is making and plans to make, including investments in special-purpose entities; and (iv) the way that the entity is structured and how it is financed to enable the auditor to understand the classes of transactions, account balances, and disclosures to be expected in the financial report. (Ref: ASA 315, Para. A31-A35) (c) The entity’s selection and application of accounting policies, including the reasons for changes thereto. The auditor shall evaluate whether the entity’s accounting policies are appropriate for its business and consistent with the applicable financial reporting framework and accounting policies used in the relevant industry. (Ref: Para. A36) (d) The entity’s objectives and strategies, and those related business risks that may result in risks of material misstatement. (Ref: ASA 315, Para. A37-A43) (e) The measurement and review of the entity’s financial performance. (Ref: ASA 315, Para. A44-A49) Based on Dick Smith Electronics’ published information, research articles and Auditing standard ASA 315, write down a short essay on the (i) factors that might have contributed to this corporate collapse and (ii) identify which of these factors should have been identified (if any) by the auditor. Page 2 of 4 Essay requirements: • The essay is to be written in the style of a formal (ie. academic) essay. For further information on formal essay writing please refer to: Fleet, W., Summer, J. & Smith, B. 2006, Communication Skills Handbook for Accounting, John Wiley & Sons Australia, Milton, Queensland. o • You can use quality/credible journal articles to support your understanding. The quality of journals can be assessed by reference to the Australian Council of Business Deans (ABDC) 2016 journal rankings (A*, A, B, C in order of declining quality) in the Assessment folder in Blackboard. o Examples of Unacceptable references include: ? Wikipedia; Investopedia; Lecture notes… • You MUST use the Harvard system of referencing. For further information on the Harvard system of referencing please refer to: o Fleet, W., Summer, J. & Smith, B. 2006, Communication Skills Handbook for Accounting, John Wiley & Sons Australia, Milton, Queensland. o Swinburne University of Technology, 2013, Harvard Style Guide: In-text references, Reference lists and Bibliographies [online], accessed 12th August 2017, available: http://www.swinburne.edu.au/media/swinburneeduau/library/docs/pdfs/Harvard-brief-guide-13-Aug-2015.pdf • If you use quotes, please provide appropriate reference for it. • Essay must be formatted as follows: o 1.5 line spacing; o Font: Times New Roman 12 point o Margins: Top, Bottom, Left & Right all 2.54cm. • You are required to submit both an electronic copy of your essay (using Turnitin) and a hardcopy of your essay: o Unless both the electronic copy and the hardcopy are received, your essay will not be marked and you will receive a score of zero (0). o Clearly indicate which tutorial group you are from (Tutor’s name and tute day/time). • Word Limit: 2,500 (+/- 10%) – excluding appendices (if used) and reference list. • Due Date: Please refer to your unit outline. • Weighting: 20% towards your final grade in this unit. Page 3 of 4 Things to note about academic essay writing: • Academic writing should be dispassionate. • The language used should be academic. o Do not use casual language (eg. that said; having said that; in saying so; the fact is; it is obvious); o Do not use emotive language (eg. engaged in reckless spending); o Do not include judgemental comments (eg. greed had taken over); o Do not use hyperboles (eg. in most cases; it is obvious; we all know). • Do not ask questions (eg. Why are auditors to blame?) • If formatting specifications are provided, use them: o Times New Roman 12pt font; o 1.5 line spacing; o 2.54cm margins. • If told to use quality academic references, do so: o Not everything in EBSCOhost is an acceptable academic source; o Not all journals are equally credible – that’s why there are journal rankings; o Journal access is freely available through the Swinburne library website. • Submit both an electronic copy and a hardcopy. • This assignment does not require a Table of Contents and an Executive Summary • Full stops go at the end of a sentence (after the citation’s parentheses). • One sentence does not constitute a paragraph. • Putting one citation at the end of a paragraph is inadequate: o Restructure your paragraphs so that the reference is cited early, and it is clear if the remainder of the paragraph is sourced from the same reference. • A reference list is not the same as a bibliography. • Reference lists must be presented in alphabetical order – not the order you have referred to them in your essay. • Proofread your essay prior to submission: o Check in-text citations against reference list entries; o Do a spell check (check firm names: Andersen not Anderson); o Have someone who is proficient in English read your essay (family member, friend, flat mate, fellow student, Swinburne Academic Skills Advisor etc.). • Complete your essay in time to generate a Turnitin report: o First reports can take 24 hours; subsequent reports can take up to 48 hours; o Matched content must be specifically assessed by you to determine whether it has been appropriately cited in your essay; o If the matched content is not appropriately cited in your text, the matched content represents plagiarised content; o Please be aware that plagiarism constitutes academic misconduct, punishable under Swinburne’s Student Academic Misconduct Regulations 2012. Page 4 of 4 Marking Rubric for the Major Assignment: MARKING Criteria: Not Pass Pass 50-59% Credit 60-69% Distinction 70-79% High Distinction 80-100% Mark Professional presentation Essay not proof-read. (0– 10) Minimum req’ments are met for: • Spelling • Grammar & expression • Essay structure. (10.5 – 12.5) A number of errors in: • Spelling • Grammar & expression • Essay structure. (13 – 14.5) Minor errors in: • Spelling • Grammar & expression • Essay structure (15 - 17) Professional standard for: • Spelling • Grammar & expression • Essay structure (17.5 – 20) Quality of Introduction Doesn’t make sense. (0 – 5) Introduction doesn’t set a clear context for the body of the essay. (5.5 – 7.5) Introduction sets a clear context for the body of the essay. (9 - 10) Introduction sets a very clear context for the body of the essay. (10.5 – 11.5) Introduction provides a clear context and structure for the body of the essay. There is clear evidence the essay is planned. (12-15) Quality of response to essay task Poor grasp of unit content (0-17) Response indicates a low level grasp of the unit. Use of case is minimal. (17.5 – 22.5) Response indicates a good grasp of the unit. Case is well used. (23-26) Response indicates a very good grasp of the unit. Case is well chosen and used. (26.5– 29.5) Response indicates an excellent grasp of the unit. Case is well chosen and used. (30 – 35) Quality of Conclusion Unclear (0 – 5) Conclusion is vague and not tied back to what was discussed. (5.5 – 7.5) Conclusion vaguely alludes to the topic being addressed, without elaboration. (9-10) Conclusion restates topic and indicates generally how this has been answered. (10.5 – 11.5) Conclusion links the case with the topic. The topic is specifically referred to, and the reader is in no doubt the topic has been addressed. (12 - 15) Quality of referencing No journal articles from the ABDC list cited in essay. (1 ) Maximum of 3 academic references cited (incl. 1 journal article); AND… There is evidence the student has a base-level understanding of the Harvard referencing standard - but in application several errors still exist. (2 – 3) Between 4 - 5 academic references cited (including 2 journal articles); AND… There is evidence the student has a good understanding of the Harvard referencing standard – but in application a number of errors still exist. (3.5 – 5.5) Between 6 - 7 academic references cited (including 3 journal articles); AND… There is evidence the student has a very good understanding of the Harvard referencing standard – but in application minor errors still exist. (6 – 11.5) Minimum of 8 academic references cited (including 4 or more journal articles); AND… There is clear evidence the student has a very thorough understanding of the Harvard referencing standard – and has demonstrated this through application to the in-text citations and reference list. (12 – 15) TOTAL SCORE (n/100):
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ACC80003 Research project
Page 1 of 5 ACC 80003 Research project (Part i: Research paper) Auditors get a bad rap in new ASIC report By: Jotham Lian 25 January 2019 “In the 18 months to 30 June 2018, ASIC reviewed audit files at the six largest firms and found in 20 per cent of the key audit areas, auditors did not obtain reasonable assurance that the financial report was free from material misstatement, down from 23 per cent in the previous 18-month period. The corporate regulator was keen to stress that its inspections were focused on higher risk audit areas, including accounting estimates, such as impairment of assets and accounting policy choices such as revenue recognition, and should not be generalised across the entire audit market. ASIC also noted that auditors may not have a sufficient basis to support their opinion on the financial report rather than that financial reports were materially misstated. “We recognise the efforts by firms to improve audit quality and the consistency of audit execution, which is reflected in some improvements in findings collectively for the largest six firms,” said ASIC commissioner John Price. “However, the overall level of findings still suggests that further work and, in some cases, new or revised strategies, are needed to improve quality.” Apart from the six largest firms inspected, ASIC also looked at eight other national and network firms, along with six smaller firms. The 20 firms, in aggregate, audit 97 per cent of listed entities by market capitalisation. Across the board, in 24 per cent of the 347 key audit areas that ASIC reviewed on a risk basis across 98 audit files in the 18 months to 30 June 2018, auditors did not obtain reasonable assurance that the financial report as a whole was free of material misstatement. This was down from 25 per cent in the previous 18-month period. Speaking to Accountants Daily, CA ANZ reporting and assurance leader, Amir Ghandar, said the inspections were meant to find areas to continually improve on and was not necessarily about reaching a zero per cent fault rate. “ASIC is a tough marker but they should be because it is about pushing audit quality in the right direction and always striving to get better,” said Mr Ghandar. “It is not about the process going towards zero and you would want to look a little closer if you found that the result was zero because you’re really supposed to identify where there is a need for improvement and highlighting the risk areas and issues and promoting that continuous improvement just like any other type of inspection or oversight process. “When you go back to when the inspections program started, the bar goes up each time so the program is designed to find those files that have issues. The value is that it gives you insights that are then used by the profession, auditors, audit committees, and other stakeholders to push it towards constant improvement of quality.” Page 2 of 5 ASIC believes “a focus on culture and talent” by firms is required to achieve better audit quality, with recommendations that partners and staff should be held accountable for their roles in conducting quality audits, and that firm leadership should stress that audit quality is not negotiable and hold individuals to account for inadequate work. UK reforms The latest audit results come as the United Kingdom’s competition watchdog proposes changes to the audit space. In a bid to break up the dominance of the big four audit firms, the UK’s Competitions and Market Authority have proposed a structural break up between the audit and non-audit businesses into separate operating entities. It has also called for the UK’s largest companies to be audited by at least two firms, with at least one outside the big four, to give mid-tier firms access to larger clients, to develop their experience and credibility while ensuring a cross-check on quality. Lastly, the CMA have proposed close scrutiny of audit appointments so as to prevent firms from choosing auditors with the best “cultural fit” or “chemistry” rather than those who offer the toughest scrutiny.” https://www.accountantsdaily.com.au/tax-compliance/12576-auditors-get-a-bad-rap-in-new-asic-report Essay requirements: • The essay is to be written in the style of a formal (ie. academic) essay. For further information on formal essay writing please refer to: Fleet, W., Summer, J. & Smith, B. 2006, Communication Skills Handbook for Accounting, John Wiley & Sons Australia, Milton, Queensland. o Using research articles and published information, write an essay applying the content covered in topics 2 and 3 to the findings in ASIC’s report. Page 3 of 5 • You can use quality/credible journal articles to support your understanding. The quality of journals can be assessed by reference to the Australian Council of Business Deans (ABDC) 2016 journal rankings (A*, A, B, C in order of declining quality) – copy provided in Canvas. o Examples of Unacceptable references include: ? Wikipedia; Investopedia; Lecture notes… • You MUST use the Harvard system of referencing. For further information on the Harvard system of referencing please refer to: o Fleet, W., Summer, J. & Smith, B. 2006, Communication Skills Handbook for Accounting, John Wiley & Sons Australia, Milton, Queensland. o Swinburne University of Technology, 2013, Harvard Style Guide: In-text references, Reference lists and Bibliographies [online], accessed 12th August 2017, available: http://www.swinburne.edu.au/media/swinburneeduau/library/docs/pdfs/Harvard- brief-guide-13-Aug-2015.pdf • If you use quotes, please provide appropriate reference for it. • Word Limit: 2,500 (+/- 10%) – excluding appendices (if used) and reference list. • Weighting: 20% towards your final grade in this unit. Submission requirements: • Due Date: Sunday 28th April 2019 (11.59pm). o Assignments must be submitted in Word processing format => a signed coversheet must be included (not just typed names). If you don’t know how to do this => ask! • Use student last names to name the submission file (eg. Muir_Hewawithana_Fisher.docx); • Only ONE student per pair is to upload the draft/final assignment to Turnitin (ie. there is no “draft” folder). * Note: For accreditation purposes this part of the assignment must be done in pairs or threes – any variation to this must have the express approval of the convenor at least 1 week before the due date. Page 4 of 5 MARKING Criteria: Does not meet expectations (0-49%) Meets expectations - Pass 50-59% Meets expectations - Credit 60-69% Exceeds expectations - Distinction 70-79% Exceeds expectations - Grammar, punctuation etc. (n/3) 5 or more errors in: • Spelling • Grammar & expression • Sentence structure (0-1.5) 4 errors in: • Spelling • Grammar & expression • Sentence structure (1.5-2) 2-3 errors in: • Spelling • Grammar & expression • Sentence structure (2-2.5) 0-1 errors in: • Spelling • Grammar & expression • Sentence structure (2.5-3) Depth of response to topic (n/10) Research and assessment of topic indicates a poor level of research undertaken and a poor grasp of assignment topic. (0-5) Research and assessment of topic indicates a low level of research undertaken and a low level grasp of the assignment topic. (5-6) Research and assessment of topic indicates a good level of research undertaken and a good grasp of the concepts associated with assignment topic. (6-7) Research and assessment of topic indicates a very good level of research undertaken and a very good grasp of the concepts associated with assignment topic. (7-8) Research and assessment of topic indicates an excellent level of research undertake In-text citations (n/2) Poor use of in-text citations – inappropriate placement and/or formatting is inconsistent with the Harvard standard. (0-1) Good use of in-text citations. There is evidence the students have a good understanding how/when to include in-text citations, but some errors in application still exist. (1-1.5) Excellent use of in-text citations. There is clear evidence the students have a thorough understanding how/when to include in-text citations, as evidenced through their error free application. ( Reference list (n/2) Less than 7 entries &/or there aren’t any academically credible sources cited. (0-1) Reference list has 7 entries with a mix of academically credible and not credible sources cited. There is evidence the students have a good understanding how to present a Harvard compliant reference list, but in application some errors still exist. (1-1.5) Reference list has 7 entries & all are academically credible. There is clear evidence the students have a thorough understanding how to present a Harvard compliant reference list, as evidenced through their error free application. Page 5 of 5 Collaboratively constructed submission (n/3) The submitted assignment has evidence that it was not a group effort. For example, repetition of content/ideas, different fonts, grammar/expression, and formatting, indicative of individual work put together. (0-1.5 The submitted assignment comes together as a collaborative group product. For example, there is consistency in fonts, grammar/expression and formatting. (1. Checklist prior to submission (Penalties apply) A full half a mark will be deducted from your overall score for each the following: ? No coversheet included (minus 0.5 mark); ? Coversheet is not signed by all students (minus 0.5 mark); ? Not including a footer with ALL students’ names & ids (minus 0.5 mark); ? Not naming the file using student last names (eg. Muir_Luznik_Rae.docx) (minus 0.5 mark); ? Not formatting document as follows: 1.5 line spacing; Times New Roman 12 point font; All margins at 2.54cm (minus 0.5 mark); ? More than one student has uploaded a copy of the assignment (draft or otherwise) (minus 0.5 mark).
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ACC80005 Financial Accounting Theory
ACC80005: Financial Accounting Theory Assessment 2: Research Assignment Word limit: 2500 (+/- 10%) Weighting: 30% Due date: 5pm AEST Monday 6 May 2019 Assessment overview “Climate change is a foreseeable risk facing many listed companies…Listed companies should provide meaningful and useful risk disclosure to enable investors to make fully informed decisions.” (Australian Securities and Investment Commission 2018, Climate risk disclosures by Australia’s listed companies, Report 593, Sep 2018, ASIC, viewed 22 February 2019, https://download.asic.gov.au/media/4871341/rep593-published-20-september-2018.pdf) Assessment details Assume that you are a summer vacation intern at the Melbourne office of an international accounting firm and that you have been tasked with writing a report for Chief Executive Officers of an Australian listed company explaining how company reporting might best address environmental/climate change risk. Your report should specifically address the following: 1. The capacity of a company’s annual report (including the directors’ report and the Operating Financial Review) and corporate governance statement to enable a company to meet the current environmental/climate change risk challenges. [approximately 400 words] 2. There are a variety of voluntary reporting frameworks. For example, the global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts developed by the CDP; Sustainability Reporting Guidelines developed by The Global Reporting Initiative; the work of The Climate Disclosure Standards Board; and the standards of the Sustainability Accounting Standards Board. Select one voluntary reporting framework (not integrated reporting or GRI sustainability reporting). Explain 2 your selected voluntary reporting framework and how it can address the disclosure limitations of a company’s annual report and corporate governance statement regarding environmental/climate change risk challenges [approximately 400 words]. 3. The International Integrated Reporting Council’s integrated reporting framework is another example of a voluntary reporting framework. Explain what integrated reporting is and how it can address the limitations of the annual report and the corporate governance statement regarding environmental/climate change risk challenges. [approximately 400 words] 4. How does integrated reporting differ from GRI sustainability reporting? In particular, demonstrate the conceptual differences. [approximately 400 words] 5. Explain the advantages and disadvantages (or costs and benefits) associated with integrated reporting, using theoretically informed arguments as to how a company may benefit, on balance, by adopting integrated reporting. [Note: refer to relevant theories covered in the course that explain why companies may adopt integrated reporting, and based on those theories, predict how the company might benefit by adopting integrated reporting. Your discussion here should not be limited to environmental and climate change risk challenges] [approximately 500 words] 6. How relevant is integrated reporting to various stakeholder groups of listed companies (e.g., retail investors, institutional investors, lenders, environmental lobby groups, customers, national communities, international communities etc.). Your answer to this part should draw on theories explaining market reactions to corporate reports and capital markets research and the use of accounting and non-accounting information. [Note: Your discussion here should not be limited to environmental and climate change risk challenges] [approximately 400 words] Additional guidance In this research assignment you will be providing your personal view based on research evidence, theory and original thought. In your assignment, you are expected to draw on: ? relevant accounting theories
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ACC80008 Managerial Accounting
Page 1 of 2 ACC80008 Managerial Accounting Research Assignment: Video Presentation Title : The Balance Scorecard (BSC) Assessment : Individual Due date : Friday, 19 October 2018 by 4:30PM AEST Marks : This assignment is worth 20 marks and 20% of the total marks for the unit. Rubric : The marking rubric has been attached to show the expectations and the requirements for this assignment; including the marks allocated for each assessment criteria. Assignment Instructions 1. This assignment involves you conducting research on the Balanced Scorecard (BSC) and developing a narrated presentation. The task requires you to develop a time-limited presentation, called a lightning talk, on BSC. 2. The presentation is to address the following requirements: 1. Explain what is the Balanced Scorecard 2. Select from the relevant literature an example of either a successful or unsuccessful implementation of BSC and address the following: a. Explain what were the motivations for introducing BSC b. Explain why the implementation was considered successful (unsuccessful) c. Taking the role as a management accountant, discuss how would you improve the implementation of BSC. In your presentation, you need to outline an area for improvement, why it needs improvement, how you propose it and on what evidence. 3. The following are rules about the presentation: § The maximum presentation length is 5 minutes § You must narrate the presentation § A maximum of 10 slides, or equivalent of, can be included. § You must submit along with the presentation a text transcript of your narration (i.e. your spoken words) 4. Please monitor ACC80008 Canvas site on a regular basis for any additional instructions via announcements. ACC80008 Research Assignment Page 2 of 2 Referencing An examination of 5 to 10 relevant references is expected in this research assignment. You are expected to cite the source of your case when outlining the case of BSC implementation, and to refer to literature when explaining BSC and proposing to improve the implementation of BSC. You are expected to provide a reference list, using the Swinburne Harvard referencing style, on one of your slides and on the last page of your text transcript of the narration. Please reread the section on referencing in the Unit Outline. Submission Instructions 1. Assessment must be submitted via ACC80008 Canvas site. Please refer to the Assignments section of ACC80008 Canvas for more detailed instructions. 2. A digital presentation file is to be submitted in a .mp4, .mov, .wmv, .flv or .mpg format, with a file name following this convention: Student ID_name_S22018, for instance: 123456789_dina.wahyuni_S22018 3. In addition, a text transcript of the narration, with the same file name is to be submitted in a .doc, .txt. or .pdf format. 4. Do not email the assessment to a lecturer. 5. Keep a backup of your submission. If your assessment goes astray, whether your fault or ours, you will be required to reproduce it. 6. It is expected that all work submitted, will have been edited for spelling, grammar and clarity. 7. The presentation will only be assessed up to a maximum time of 5 minutes. Marking Criteria The rubric, in a separate document, will be used to assess your work. Extensions and Late Submission Please reread the section on extensions and late submission in the Unit Outline. Plagiarism Please reread the section on plagiarism in the Unit Outline. Publication of Results Results will be published via ACC80008 Canvas site within 15 business days of the due date. Assessment Help If you have any queries or concern you may discuss them with the convenor in the Canvas discussion forum or by email. Technical Help Technical assistance can be obtained from the Swinburne Service Desk: servicedesk@swin.edu.au or (03) 9214 5000.
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ACC80011 Case Research 1 Report Sem 1 2019 Final No rubric
Faculty of Business and Law: Swinburne Business School ACC80011 Strategic Cost Management Case Analysis: Australian Dairy Industry Australian Dairy Industry (Hubbard et al. Case 1) Read the Case Study and address the following requirements: 1. Construct an Industry Value Chain. Identify the most lucrative part of that value chain. Justify your selection. 2. Conduct an Analysis of the Industry using a Five Forces analysis and comment on each of the following: a. Barriers to Entry and the threat of new entrants b. Identify the key customers and determine their relative power. c. Identify key substitutes for the industry and determine the impact of these substitutes on the industry. d. Identify key suppliers to the industry and determine their relative power. e. Discuss the rivalry between the key competitors. 3. Conclude on whether this is an attractive industry based on your analysis. Note: ? Present your full analysis in a report format in no more than 4 pages (no need for an Executive Summary). Submit through CANVAS. ? Prepare 1 to 2 slides for each of the above requirements and be prepared to present your analysis in class. This slide pack does not need to be submitted. See separate case presentation assessment instructions. ? Due Date: 11.30am on Wednesday 28th August. This is a strict deadline, as the case will be discussed in class. ? This assignment is to be done individually ? Marks: 8 (8% of your assessment for the Unit).
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ACC80011 Case Study Analysis 3 - Case 7 Apple and Pear Australia S2 2019
Faculty of Business and Law: Swinburne Business School ACC80011 Strategic Cost Management Case Analysis: Apple and Pear Australia Apple and Pear Australia (Hubbard et al. Case 7) Read the Case Study and address the following requirements: 1. Construct a Balanced Scorecard for the organisation. You need to identify 3 objectives for each perspective; determine appropriate measures for each objective and populate each measure with data from the case. Address each of the following: A. Customers B. Internal Business Process C. Learning and Growth/Innovation D. Finance 2. Document what you have learnt from this process in terms of the potential usefulness of balanced scorecards and the process of creating them. Note: ? Present your full analysis in a report format in no more than 4 pages (no need for an Executive Summary). Submit through CANVAS. ? Prepare 1 to 2 slides for each of the above requirements and be prepared to present your analysis in class. Slides do not need to be submitted. See separate assessment tab for case presentations ? Due Date: 11.30am Wednesday 9th October 2019. This is a strict deadline. ? This assignment is to be done individually ? Marks: 8% of your assessment for the Unit – 8 marks for the report. Marking guide: Requirement Mark Out of 10 Marks Comments Developed structure of the balanced scorecard (10%) Identified 3 relevant objectives for each perspective (24%) Determined an appropriate measure for each objective (24%) Populated each measure with data from the case (18%) Conclusions on the usefulness of balanced scorecards and the process of creating them (14%) Concise presentation (max 4 pages; good structure; easy to understand; use of tables; case references) (10%) Total Marks (Out of 8)
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ACC80011 Case Study Analysis 4 - Case 2 Bega Cheese S2 2019
Faculty of Business and Law: Swinburne Business School ACC80011 Strategic Cost Management Case Analysis: Bega Cheese Bega Cheese (Hubbard et al. Case 2) Read the Case Study and address the following requirements: 1. Identify the key segments of the Industry. 2. Comment on Bega Cheese’s current products and markets with emphasis on performance trends. 3. Construct a BCG Growth/Share Matrix for Bega’s products using data from the case to justify your product positioning. 3.1. Identify any assumptions and limitations in constructing this. 4. Given your portfolio, suggest strategies for two of the products. Note: ? Present your full analysis in a report format in no more than 4 pages (no need for an Executive Summary). Submit through CANVAS. ? Prepare 1 to 2 slide for each of the above requirements and be prepared to present your analysis in class. Slides do not need to be submitted. ? Due Date: 11.30am Wednesday 23rd October. This is a strict deadline as the case will be discussed in class. ? This assignment is to be done individually ? Marks: 8% of your assessment for the Unit – 8 marks for the report. Marking guide: Requirement Mark Out of 10 Mark Comments 1. Identification of key market segments (10%) 2. Analysis of Bega products and performance (20%) 3. Creation of BCG matrix with justification (20%) 3.1 Discussion of constraints and limits in constructing BCG matrix (15%) 4.Identification of well thought through and internally consistent strategies for two Bega products talking into account the prior analysis (25%) Concise presentation (max 4 pages; good structure; easy to understand; use of tables; case references) (10%) Total marks (out of 8)
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ACC80011 Strategic Cost Management
Faculty of Business and Law: Swinburne Business School Strategic Cost Management Research Assignment Globalisation of industries and financial capital has forever changed the competitive landscape. Disruptive technologies and changing market demographics and preferences provide both opportunities and significant challenges to companies. Strategic management is designed to identify these opportunities and challenges and provide a basis for competitive strategies to successfully compete in global markets. Various well established techniques are used by strategic managers to provide insights into the complexity of industries through objective and rigorous analysis of data with the aim of identifying trends which may lead to those opportunities and challenges. You are required to undertake a comprehensive and rigorous PESTEL analysis of the General Hospital Industry in Australia. Specific Requirements: 1. Description of the Industry Conduct extensive research into the Industry and identify the major competitors; the structure of the Industry e.g. Reach; Industry products and/or services; recent Industry benchmarks: relative market shares of key competitors. Who are the major suppliers to the Industry and who are the major customers? 2. Research: Identification of Trends: Undertake comprehensive research into each of the PESTEL factors that may have impact (positive or negative) on the Industry. This will require significant research using data from a number of sources to provide evidence of political issues in both Australia federally and each State; changing government policies on issues such as health policy or incentives; Industry regulations etc. Government publications will provide data on changing demographics in demand. Industry publications will also need to be researched for data on demand growth; market share; issues and trends. Finally media publications will provide analysis and commentary on key issues. Potential sources for the data collection will be discussed in class. 3. Knowledge integration: You are required to analyse the data collected through your research and present your findings as either a positive or negative impact on the Industry. With reference to your research, recommend strategies to optimise the efficient and effective outcomes of this Industry. Note: • Present your research in a report format with approximate word length of 2,000 – 3,000 words excluding appendices. • Due Date: Saturday 14th April. • This assignment is to be done individually and submitted via Turnitin. Data Sources: ABS http://www.censusdata.abs.gov.au/census_services/getproduct/census/2016/quickstat/2GMEL AIHW Data Reports https://www.aihw.gov.au/reports-statistics/health-welfare-services/hospitals/data Productivity Commission Report on Public Hospitals https://www.pc.gov.au/research/ongoing/report-on-government-services/2018/health/public-hospitals Vic Dept. of Health https://www2.health.vic.gov.au/hospitals-and-health-services
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BSC assignment
This assignment involves you conducting research on the balanced scorecard (BSC) and developing a narrated five-minute video presentation. The presentation will address the following requirements: Explain what the BSC is. Select from the relevant literature an example of either a successful or unsuccessful implementation of BSC and address the following: Explain the motivations for introducing BSC. Explain why the implementation was considered successful and/or unsuccessful. Taking the role as a management accountant, discuss how the implementation of BSC could be improved. In your presentation, you need to outline an area for improvement, why it needs improvement, how you propose it and on what evidence. The following are rules about the presentation: The maximum presentation length is five minutes. You must narrate the presentation. A maximum of 10 slides, or equivalent of, can be included. Along with the presentation, you must submit a text transcript of your narration (i.e. your spoken words). Referencing An examination of 5–10 relevant references is expected in this research assignment. You are expected to cite the source of your case when outlining the case of BSC implementation, to refer to literature when explaining BSC and when proposing to improve the implementation of BSC. You are expected to provide a reference list, using the Swinburne Harvard referencing style, on one of your slides and on the last page of your text transcript of the narration. Supporting resources The following resources will assist you with completing this assignment: 6 tips for mastering video presentations (Links to an external site.) (Highfive 2019). So basically i need a transcript of the narration and ill be reading of it to make my video. Due September 21.
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INF70005 Strategic Project Management
Swinburne University of Technology Faculty of Business and Law INF70005 – Strategic Project Management Semester 2, 2018 Assignment Three – Research and Reflective Report Due date: Tuesday 23rd October 2018 @ 10pm (2200 hrs) Assignment Value = 35% Each student is required to prepare and submit a written research and reflective report of 3300 words (anything over the word limit will be ignored and will not be marked). Write directly into the template provided to complete your report. Don’t set your report out in a separate structure. The purpose of this report is to 1) reflect your experience as part of a project team in the group assignment, and 2) research on two project management issues in which you are required to use appropriate concepts and models relevant to deepen your insights into the issues. Your work should be of a high academic standard. Your reflection and research should be uploaded electronically to CANVAS via [Turnitin] by the due date. Assistance can be obtained from ADSHelp [03] 92145295. You are expected to follow relevant parts of the required style guide, and includes the use of Swinburne University Harvard Style referencing. Your report is to be typewritten into the table provided, in English. The report should be written in clear, plain language, in Word format. Project Management Issues The research on Project Management issues are in video format and made available on CANVAS. They are prepared by a number of visiting Swinburne project management scholars. Note: Complete this Assignment in the tabular template format provided (incl. number of words used) In grading this work it is expected to see evidence of the choice and usage of appropriate academic theory to deepen your insights of the selected project management issues. As well as a high quality written, appropriately referenced and supported analysis. Markers are therefore looking for: • analytical substance • argument structure • use of supporting material • quality of writing • persuasiveness • overall clarity • discerning between assumptions and value judgments vs. analysis and argument. Your Name: Your student ID: (use the template below for Assignment 3) Issue / Concept Specific aspect / area of focus Your response Grade & comments Introduction Introduction to your project team and your role within it. [50 – 100 words] /2 Project management concepts Comment on the project significance, aims and objectives and what you have learnt from this experience. [100 words] /4 Identify and explain one or two key problem[s] / risk[s] encountered and describe your response and why that approach was chosen. [100 words] Team member dynamics Explain what team dynamics worked well during the semester and why. What insights will you take into future projects? [100 words] /4 Identify one or two key team dynamics [positive or negative behaviours / characteristics] which impacted your team’s performance? Explain how these were managed. Describe your key learning outcomes? [100 words] Team composition and process Identify one aspect that: 1. Worked well 2. Did not work so well. Explain your choice using one illustration for each from your weekly progress reports to support your choice. [100 words] /2 Academic theory List clearly the two chosen project management issues / topics from the chosen international speakers. Explain why you chose them. [150 words] /3 For the first issue / topic, identify at least one academic theory to deepen your insights into the issue Briefly introduce [and reference] your chosen academic theory. Justify your choice. [400 words] /3 Using your chosen theory to explain how this helps you to gain deeper insights into the first issue. [600 words] /4 Identify your new learning and explain how this insight will influence you in the future. [200 words] /2 For the second issue / topic, identify at least one academic theory to deepen your insights into the issue. Briefly introduce [and reference] your chosen academic theory. Justify your choice. [400 words] /3 Using your chosen theory to explain how this helps you to gain deeper insights into the second issue. [600 words] /4 Identify your new learning and explain how this insight will influence you in the future. [200 words] /2 References Presented appropriately in accordance with: Swinburne Harvard Style Guide /2 Total out of 35
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LAE6003 business law assigent
Assignment Questions Choose either Question 1 or Question 2. Question 1 Which of the following statements more accurately reflect the current law on lifting (or piercing) the corporate veil and why? ‘Salomon is in the shadow. It is still alive but no longer occupies the centre of the corporation stage’ (Schmittoff, C. M., ‘Salomon in the shadow’ [1976] Journal of Business Law 305) ‘The veil of incorporation is as opaque and impassable as an iron curtain’ (Samuels, A., ‘Lifting the veil’ [1964] Journal of Business Law 218) NB: You can access the articles where the quote is taken from below: 1. Schmittoff, C. M., ‘Salomon in the shadow’ [1976] Journal of Business Law 305: https://commons.swinburne.edu.au/file/71df0e76-c6ae-4575-9d9a-04dc7da92da8/1/0021-9460_pp.305-312.pdf 2. Samuels, A., ‘Lifting the veil’ [1964] Journal of Business Law 218: https://commons.swinburne.edu.au/file/be000aef-72a2-475a-a4c2-ae614a43b541/1/00219460_pp107-117.pdf Resource 1. Reading chapter 11 in the textbook – take note of the cases 2. Journal articles (You need your Swinburne’s students’ login to access this articles) - Anil Hargovan, ‘Piercing the Corporate Veil on Sham Transactions and Companies’ (2006) 24 Company and Securities Law Journal 436; http://ezproxy.lib.swin.edu.au/login?url=http://www.westlaw.com.au/maf/wlau/app/document?docguid=Id05cc31ccfe711e08eefa443f89988a0&tocDs=AUNZ_AU_JOURNALS_TOC&isTocNav=true&startChunk=1&endChunk=1 - Anil Hargovan and Jason Harris, ‘Piercing the Corporate Veil in Canada: A comparative analysis’ (2007) 28 The Company Lawyer (UK) 58. http://ezproxy.lib.swin.edu.au/login?url=https://login.westlaw.co.uk/maf/wluk/app/document?&srguid=i0ad8289e0000015c8611cd25b9442f6e&docguid=I208447B19F7D11DB95EEAC25780548A8&hitguid=I208447B19F7D11DB95EEAC25780548A8&rank=7&spos=7&epos=7&td=11&crumb-action=append&context=4&resolvein=true - Ian Ramsay and David Noakes, ‘Piercing the Corporate Veil in Australia’ (2001) 19 Company and Securities Law Journal 250. http://ezproxy.lib.swin.edu.au/login?url=http://www.westlaw.com.au/maf/wlau/app/document?docguid=I093aed4fcf8d11e08eefa443f89988a0&tocDs=AUNZ_AU_JOURNALS_TOC&isTocNav=true&startChunk=1&endChunk=1 - Jason Harris, Anil Hargovan, ‘Corporate groups: the intersection between corporate and tax law Commissioner of Taxation v BHP Billiton Finance Ltd’ (2010) 32 Sydney Law Review 723 http://ezproxy.lib.swin.edu.au/login?url=http://search.ebscohost.com/login.aspx?direct=true&db=lgs&AN=502651161&site=ehost-live&scope=site - Helen Anderson, ‘Piercing the Veil on Corporate Groups in Australia: The Case for Reform’ [2009] 33 Melbourne University Law Review 333 http://ezproxy.lib.swin.edu.au/login?url=http://search.ebscohost.com/login.aspx?direct=true&db=lgs&AN=502075836&site=ehost-live&scope=site Question 2 Andrew and Margaret visit their local travel agent to discuss the possibility of taking a holiday on an island off the Queensland coast. Neither has previously travelled outside Victoria and they explain to the agent that they would like his advice on the best value available, specifying they would like a restful holiday. They require access to a nice beach and facilities for golf and water skiing. The agent recommends that they go to Gunk Island, which he assures them, will satisfy all their stated requirements. They book accordingly. Gunk Island fails to live up to their expectations. Their accommodation is a deserted cabin with no water, no toilet facilities and no vehicle access. It appears to have been deserted for some time. The only beach within walking distance is covered with rocks and coral, and is very unsuitable for swimming. There are no facilities for water skiing and the only golf course on the island is a mini golf course in the village, four kilometres away, which has been vandalised by youths. The price paid by Andrew and Margaret for their holiday package was approximately the same as for most alternative resorts for which they had been shown brochures by the travel agent. Upon their return to Melbourne, Andrew and Margaret consult you and state that they wish to take legal proceedings against the travel agent. They point out that, apart from the cost of the holiday, they have incurred other expenses. These include the cost of medical treatment for Margaret, who suffered a nervous breakdown as a result of unsatisfactory facilities on Gunk Island; Margaret’s anticipated loss of wages (she will be unable to resume work for at least three months); and the cost of additional airfares incurred. They instruct you because the facilities at the resort were so poor they decided to catch an earlier flight home. As a result, they had to pay an extra amount for their flight as their holiday package required them to fly home on a specific date. Advise Andrew and Margaret as to their prospects of success in an action against the travel agent. If they succeed, what will be the extent of the remedies that will be available to them? Your answer must provide relevant justifications and refer to legal principles and cases to support your discussion. Resource (a) Reading: Chapter 10 in the textbook. (b) Journal articles (You need your Swinburne’s students’ login to access this articles) - Jane Swanston, ‘Discharge of Contracts for Breach’ (1981) 13(1) Melbourne University Law Review 69; http://ezproxy.lib.swin.edu.au/login?url=http://www.heinonline.org/HOL/Page?handle=hein.journals/mulr13&collection=journals&id=79 - C Kidd, ‘Partial Performance of Lump Sum Contracts: Proposals for Reform’ (1985) 59 Australian Law Journal 96; http://ezproxy.lib.swin.edu.au/login?url=http://www.westlaw.com.au/maf/wlau/app/document?docguid=Ic7c20b59cfc311e08eefa443f89988a0&tocDs=AUNZ_AU_JOURNALS_TOC&isTocNav=true&startChunk=1&endChunk=1 - G L Williams, ‘Partial Performance of Entire Contracts’ (1941) 57 Law Quarterly Review 373; http://ezproxy.lib.swin.edu.au/login?url=http://www.heinonline.org/HOL/Page?handle=hein.journals/lqr57&start_page=373&collection=journals&id=383 - M Dockray, ‘Cutter v Powell: A Trip Outside the Text’ (2001) 117 Law Quarterly Review 664; http://ezproxy.lib.swin.edu.au/login?url=https://login.westlaw.co.uk/maf/wluk/app/document?&srguid=i0ad69f8e0000015c8b87a07ec03888dc&docguid=ICCAE8F60E72111DA9D198AF4F85CA028&hitguid=ICCAE8F60E72111DA9D198AF4F85CA028&rank=1&spos=1&epos=1&td=1&crumb-action=append&context=6&resolvein=true - Roger Brownsword, ‘Retrieving Reasons, Retrieving Rationality? A New Look at the Right to Withdraw for Breach of Contract’ (1992) 5 Journal of Contract Law 83; http://ezproxy.lib.swin.edu.au/login?url=https://advance.lexis.com/api/permalink/c6fac17d-4e52-4160-9388-416b2b50d06b/?context=1201008&federationidp=S68ZPG40324
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LAW60003 Research Assignment
LAW60003 Research Assignment
INTRODUCTION
Directors present the directing mind and will of the company as they are given the management powers.1 Due to the immense of their designated powers, both statue and case law impose a core group of legal duties and responsibilities on them. Senate Committee explained the purpose of this action is to “protect people (such as shareholders) who entrust their interests to the care of others (directors)”.2 In other words, it is to ensure that directors, in exercising their powers, must act in the company’s best interest.
THE MULTIFACETED NATURE OF THE BEST INTEREST DUTY
Common law imposes a duty on directors to act in the good faith in the best interest of the company, this requirement is also codified under s181 Corporations Act 2001.3 In Australia, the duty of acting in best interest of the company, generally coincides with the requirement to maximise the benefit of its shareholder to the full extend (as a whole), provided company is solvent4.
The nature of best interest duty has been interpreted by the courts in a very broad sense. It required a number of compliance duties, for example, duty of exercise power for proper purposes, incorporation of conflicts and profits duty, and duty to take into account creditors’ interest in time of financial distress. 5
1 Alex Wan, Corporation and Contract Law (Thomson Reuter, 2015), 415.
2 Patricia Dermansky, ‘Should Australia Replace Section 181 of the Corporation Act (Cth) with Wording Similar to Section 172 of the Companies Act 2006 (UK)? eLaw Journal: Melbourne University Electronic Journal of Law