代写 ACCT3004 Accounting Theory and Analysis
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代写 ACCT3004 Accounting Theory and Analysis
School of Accounting
ACCT3004 Accounting Theory and Analysis
Tri 2A 2016
Written Assessment Information Sheet
Sydney, Singapore, Hong Kong
Written Assessment (15%)
Due 5pm 19 th August 2016
(uploaded through Turnitin on the Blackboard site used by this unit)
Background
Carart Ltd is company established by the smash repair industry in Australia. Smash repairers fix
and repair cars after they have been involved in an accident. Most of the revenue of the smash
repair business comes from a small number of insurance companies and car paint is their biggest
cost. The industry is very fragmented, comprising many small businesses across Australia.
Therefore, the individual smash repairer businesses had very little bargaining power either with the
insurance companies or with their suppliers. In order to combat this, Carart Ltd was established and
has the following aims;
1) To act as a lobby group for the industry so that the individual smash repair business has a voice
against suppliers, regulators and the insurance companies
2) To negotiate better prices for the smash repairers for their paint and other supplies which they
could not do individually due to their size
3) To help build wealth for the individual smash repairer businesses through providing dividends
from investments
The structure of Carart Ltd is as follows;
The income of Carart Ltd comprises rebate income from the paint suppliers as well as
investment income. The rebate income is calculated as a fixed % of all the paint that each of
the shareholder businesses acquire from the main paint supplier and is paid every July based
on the paint costs of the prior financial year.
Carart Ltd has a policy of paying out dividends annually to the shareholders
A copy of the draft projected financial statements for Carart Ltd is provided
Carart Ltd has recently acquired a commercial rental property with bank funding. The
building cost $1m and they borrowed $650000. As a result of the funding, the bank has
imposed the following debt covenant;
Net profit margin of at least 30% (EBIT/gross income)
Carart Ltd
Directors = 4
shareholder
representatives plus
Nicole
Shareholders = 40 individual smash
repairer businesses (equal
shareholding)
Employees = Nicole, the
General Manager and 2
administration staff
Page 2 of 4
Scenario and decision
The board is having their final board meeting before 30 June 2016 and Nicole has advised them that
one of the shareholders has contributed well over half of the rebate income for the year. The board
is considering rewarding this shareholder by paying out a rebate to them of $300,000 specifically as
a bonus for their efforts. This would be accounted for as an additional expense of Carart Ltd but it
would mean that it is fairer for that shareholder given their contribution.
The board is trying to decide whether or not they should commit to this before or after 30 June as
they are conscious of the impact this payment would have on the other stakeholders of Carart Ltd,
especially the bank.
Nicole has sought your advice as the external accountant to Carart Ltd.
Carart Ltd
Projected Financial statements for the year ended 30th June 2016
Assets Income
Current Assets Rental income 100000
Cash at Bank 250000 Rebates 750000
Rebates receivable 750000 Gross income 850000
Total current assets 1000000
Less: Expenses
Non-current assets Salaries 100000
Land & buildings 1000000 Rebates paid 0
Total non-current assets 1000000 Other expenses 210000
Total assets 2000000 Interest 45000
Total expenses 355000
Current Liabilities
Staff superannuation 25000 Net Profit 495000
Dividends payable 200000 Less: income tax 148500
Rebates payable 0 Net Profit after tax 346500
Total current liabilities 225000 Less: dividends 200000
Non-current liabilities Net profit after tax and dividends 146500
Bank Loan 650000
Total Liabilities 875000
Equity
代写 ACCT3004 Accounting Theory and Analysis
Share capital 40000
Retained earnings 1085000
Total Equity 1125000
REQUIRED
You are required to write a Letter of Advice to the Board, together with a transmittal email
to Nicole outlining
1) The financial impact that declaring the rebate before or after 30 June will have
(calculations are required)
2) Whether or not this represents earnings management, and if it is good or bad
earnings management? (academic references required)
3) Your recommendation as to which year the rebate should be committed to pre or post
30 June. (Hint: you may want to consider the AAA model discussed in the lecture)
(The Letter of advice should be limited to 4 pages plus references)
Page 3 of 4
Required Format and additional information
There are two documents required to be submitted via turnitin
1) The transmittal email and
2) The letter of advice which includes references
A guideline rubric/marking guide will be placed on Blackboard. Note that marks will be
allocated for both referencing and using the correct formats for these written forms of
communication.
The allocation of the marks is in accordance with the rubric provided and can be broadly summarised as
Allocated by document type Allocated by question
Transmittal email 10%
Letter of advice 90%
Question 1) – Financial impact 20%
Question 2) – Earnings Management 50%
Question 3) – Recommendation & Justification 30%
The written assessment should use a size 11 or 12 font. Left and right page margins should be at
least 2 cm. Documents submitted must be properly formatted and checked for appropriate
spelling and grammar. Documents submitted that are not formatted correctly will lose 10%
automatically. This includes appropriate punctuation and ensuring a space after a full stop or
comma or semi-colon or colon and inappropriate use of symbols.
A separate cover page is not required. However, your Student Name and Student ID should be
incorporated into the written communication eg in the address section and your letter should
include page numbers.
Chicago referencing style is required for in-text and end-text referencing. In-text and end-text
references are required. Students need to ensure they discuss the points they think are the most
important to ensure that the word limit is adhered to. Students who provide no in-text references
will receive a grade of zero and may be reported for plagiarism. University policies and
procedures for academic misconduct and plagiarism will be applied. Further information is
available at academicintegrity.curtin.edu.au.
A minimum of 10 references should be provided
Originality reports displaying percentage (%) of similarity can be viewed by students to ensure
they have referenced where appropriate and not plagiarised. Students can resubmit their edited
documents multiple times prior to the submission time. All similarities should be checked by
students to ensure that where applicable the text is correctly referenced. A high degree of
similarity and low degree of referencing will most likely result in a low grade.
NOTE: When you submit your letter to Turnitin for the first time you will receive the
similarity report within 2-30 minutes. If you resubmit a second time and each time after
that it may take 24 hours to view the similarity report.
Page 4 of 4
IMPORTANT - The file name of the word document and the submission title in Turnitin needs
to reflect your location and student ID (That is labelled correctly in BOTH places) for example;
- BEN_12345678 (for Bentley Students)
- FO_12345678 (for Fully Online Students)
- Miri_12345678 (for Miri Sarawak Campus Students)
- MAU_12345678 (for Mauritius Students)
- SYD_12345678 (for Sydney Students)
- SING_12345678 (for Singapore Students)
- HK_12345678 (for HK Students)
Failure to comply with labelling instructions can result in a loss of 2 Marks.
Additional Support Information
Online grammar exercises and a calendar for support workshops can be found at the following websites:
http://business.curtin.edu.au/study/student_support/communication_skills_centre/online-
grammar-exercise.cfm
http://life.curtin.edu.au/learning-support/learning_support_calendar.htm
Please also refer to the additional resources and templates provided on Blackboard and in E-reserve
for writing letters of advice and transmittal emails.
Turnitin for Students
What is Turnitin?
Turnitin is an electronic text matching system that compares text in a student assignment against
electronic text on the Internet, in published works, on commercial databases, and in assignments
previously submitted to Turnitin by students in universities all over the world, including
assignments obtained from internet sites that sell student papers.
The Turnitin system operates through a web site and is accessed using standard web browsers.
Turnitin is a text-matching system and contrary to popular belief it is NOT a standalone plagiarism
detection system. Turnitin provides an 'originality report' in which 'matched' text is underlined,
colour coded, and linked to either the original source or a similar document on its database. Turnitin
indicates the degree of text matching, and lecturers must still review the originality report and
perhaps use other measures in order to determine if plagiarism has occurred.
Why is Turnitin being used at Curtin?
Currently, Curtin degrees have prestige with employers and the wider community but this can be
threatened by breaches of academic integrity (including plagiarism). Academic integrity is essential
to the operation and reputation of Curtin courses.
Turnitin supports the implementation of Curtin University's mission and values and its policy on
plagiarism. It is one of many resources that can help ensure that academic integrity is maintained:
tutors have multiple ways of detecting plagiarism and are normally very familiar with the academic
reference sources within their discipline. Turnitin quickly identifies the source of matching text and
this assists in the decision making process, thereby helping support the maintenance of fair
assessment standards for all students.
http://academicintegrity.curtin.edu.au/overview/Turnitin_whatis.cfm
代写 ACCT3004 Accounting Theory and Analysis