(Solution) ACCT11059 Accounting, Learning and Online Communication
1 Written Assessment
ASS#1 is the first part of your major assignment for this unit. It is made up of six steps.
Step 1 is due at 11.00am Monday Week 2. Step 2 is due 11:00am Monday Week 3.
You will be given your company at the end of Week 1.
This assignment will give you the opportunity to explore what your own company does and what your firm’s financial statements may have to tell you about your firm.
The key things to achieve in your ASS#1 is to find your company’s latest annual report and to have a look at it; to get a feel for what your firm actually does and what you are able to understand about your firm from your first look at its financial statements.
You will also input your company’s last four years of financial statements into your spreadsheet. As well, you will have the opportunity to experience how interacting with others in the unit may be able to help you to better understand your firm.
Week 5 Monday (10 Aug. 2020) 11:00 am AEST
Your ASS#1 will be marked promptly; and within 2 weeks. You will receive a mark, individual feedback, general feedback and exemplars.
Step 1 KCQs = 3 marks
Step 2 Introductory words in Description box = 1 mark Photo and description = 1 mark Link to your blog/Set up blog = 1 mark
Step 3 Background information on company = 2 marks Comments/KCQs = 4 marks Comments on other’s blogs = 2 marks
Step 4 Input company’s financial statements = 5 marks
Step 5 KCQs = 3 marks
Step 6 Individual feedback with other students = 3 marks
TOTAL 25 marks.
- Explain the main types of financial statements
- Use Excel to perform simple manipulation and analysis of accounting-related information
- Develop skills to learn more effectively and better communicate and collaborate online.
- Information Literacy
- Team Work
- Information Technology Competence
2 Online Quiz(zes)
We will be using PeerWise as a place for you to create, share and evaluate questions with others in the unit.
PeerWise is designed to be used each week throughout the unit. Each week, PeerWise will support you to read the Study Guide (that’s right, each week), write multiple choice questions from your reading (including solutions with explanations), answer others questions and rate others questions. You can also comment on people’s questions, and people can then comment on your comments and so on.
You should aim to write at least 2-3 questions each week and answer (and rate) 20 – 30 questions each week.
It is a big advantage in PeerWise to start early in the unit; and to write high quality questions (and solutions with explanations). Typically, on average, people will write about 25-30 questions during the unit and answer/rate about 250-300 questions. Some people will do much more; and others less.
Start by looking at the video “Tips on Using PeerWise”: https://www.youtube.com/watch?v=MOlYsHgXrqA&t=1s. And you can visit PeerWise here: http://peerwise.cs.auckland.ac.nz/at/?cqu_au. If you have not used PeerWise before, please click on the “Registration” link and follow the prompts. All you need to do is choose a user name and a password for your PeerWise account. If you have used PeerWise before, simply log in and then select “Join a course” from the Home menu.
IMPORTANT: You will need to follow the information provided in the PeerWise folder in the top centre section in Moodle in order to access our Peerwise unit this term (there is a PeerWise ‘Course ID’ for our unit, which is detailed in Moodle).
Peerwise closes at 5pm AEST on Thursday in Week 11. There is no need to submit anything concerning PeerWise in Moodle.
Your scores from Peerwise will be transferred to Moodle before the end of term by the Unit Coordinator.
As you contribute to PeerWise, you will accumulate a Reputation score calculated in the software which is composed of three parts: writing questions (Questioning); answering questions (Answering); and rating questions you have answered (Rating).
To achieve a high score it is much better to have good scores for each of the three components than a very high score in just one (or two) components. It is particularly important not to have a zero (or near zero) score for any of the three components. Answering and Rating scores at a similar level and your Questioning score at about one-tenth of your Answering and Rating scores can be a good balance. For example, a score of Questioning: 175; Answering: 1,750; and Rating: 1,750.
You can see your score in the top right-hand corner of PeerWise. For marking PeerWise, we use the Reputation score (not the Questioning, Answering or Rating scores).
You will gain a mark out of 5 for your PeerWise contribution. This will be calculated according to the Peerwise grading guidelines available on Moodle.
The Unit Co-ordinator reserves the right to adjust the mark of any student if they engage in inappropriate behaviour on PeerWise. Inappropriate behaviour might include: · Bullying, harassing or being rude to any other student. · Contributing questions flagged as being easy, for example as ‘Easy’ or ‘Questions for Dummies’. · Marking correct answers in bold or with other marks. · Copying other student’s questions and contributing them onto PeerWise as your own (although it is understood that different students may independently contribute similar or even identical questions at times, and this is perfectly alright).
Please report to the Unit Co-ordinator any inappropriate behaviour on PeerWise.
- Explain the main types of financial statements
- Discuss the usefulness of accounting information to management
- Information Literacy
3 Written Assessment
This assignment is the second stage of your major assignment for this unit. It is made up of ten steps.
The first six steps are due progressively between Weeks 6-11.
Step 1: (5 marks) Step 1 involves you writing down some of your ideas, reflections and reactions to reading Chapter 4 ‘Analysing Financial Statements’ in the Study Guide.
Step 2: (5 marks) Step 2 involves you writing down some of your ideas, reflections and reactions to reading Chapter 6 ‘Understanding Key Cost Relationships’ in the Study Guide.
Step 3: (18 marks) Step 3 involves you restating your firm’s financial statements.
Step 4: (3 marks) Step 4 involves you providing (and receiving) feedback to three other students in our unit on their draft ASS#2 Step 3.
Step 5: (5 marks) Step 5 involves you writing down some of your ideas, reflections and reactions to reading Chapter 7 ‘Budget for the Short Term’ in the Study Guide.
Step 6: (5 marks) Step 6 involves you writing down some of your ideas, reflections and reactions to reading Chapter 8 ‘We Have Got to Make Some Decisions’ in the Study Guide.
Step 7: (4 marks) Step 7 involves you identifying three products or services of your firm and estimating their selling price and variable cost and calculating their contribution margins.
Step 8: (17 marks) Step 8 involves you calculating some ratios for your firm (and its economic profit) and assessing its business performance.
Step 9: (5 marks) Step 9 involves you developing a capital investment decision for your firm and completing a simple analysis of this decision using payback period, NPV and IRR.
Step 10: (3 marks) Step 10 involves you providing (and receiving) feedback to three other students in our unit on their draft ASS#2 Steps 7-10.
Review/Exam Week Monday (12 Oct. 2020) 11:00 am AEST
Your ASS#2 will be marked promptly – and within 2 weeks. You will receive a mark, individual feedback, general feedback and exemplars.
Step 1 – KCQs – Chapter 4 = 5 marks
Step 2 – KCQs – Chapter 6 = 5 marks
Step 3 Restated Statement of Changes in Equity = 2 marks Restated Balance Sheet = 5 marks Restated Income Statement = 8 marks Commentary and discussion with others = 3 marks
Step 4 – Individual feedback with other students (Steps 3 & 4) = 3 marks
Step 5 – KCQs – Chapter 7 = 5 marks
Step 6 – KCQs – Chapter 8 = 5 marks
Step 7 Identify three products or services of your firm = 1 mark Estimate selling price, variable cost & CM = 1 mark Commentary – contribution margins = 1 mark Constraints – identify & commentary = 1 mark
Step 8 Calculation of ratios = 8 marks Commentary – ratios = 4 marks Calculate economic profit = 2 marks Commentary – drivers of economic profit = 3 marks
Step 9 Develop capital investment decision for your firm = 1 mark Calculation of payback period, NPV & IRR = 3 marks Recommendation & discussion = 1 mark
Step 10 – Individual feedback with other students (Steps 7 – 10) = 3 marks
TOTAL 70 mark