Accounting Theory Individual Report

| June 9, 2016

Question
WIL ACCT 1077 Accounting Theory Individual Report & Team Report 1 2012
The following assessments involve Work Integrated Learning (WIL) activities. The focus of RMIT’s WIL policy is for you to ‘learn by doing in context and with feedback’ in realistic contexts. In Accounting Theory, this assessed WIL experience makes a significant contribution to development of your work-readiness capabilities by deepening your knowledge of, and skills at, core accountancy practices concerning the practical application of contemporary financial accounting regulation in the workplace.

You and your future team members are graduate employees of a public accountancy firm, Doctor Accounting (DA).

You will work individually and as a team to produce a report and a presentation for DA responding to the following brief:

Section 1: Client Brief

Background:

Tardis LTD (an Australian company) is a client of Doctor Accounting (DA). Tardis Ltd is involved in the development and distribution of Web 2.0 technologies for the Education sector. At present, Tardis Ltd is listed on the Australian Stock Exchange and DA has been providing both Audit and non-audit services to Tardis Ltd for the past five years.

Tardis Ltd is currently seeking expansion opportunities for its core business competencies. Tardis advises that one of its core competencies is the research and development of online distance education technologies for use by educational facilities in regional and remote areas. The company has already completed extensive marketing research seeking new opportunities for the international placement of a research and development hub. As a result of this research the company has identified a number of countries that would potentially be a suitable site for the formation of a publicly listed subsidiary.

Tardis has not made a final determination as to whether these expansion projects will go ahead and as part of its research it has sought the services of DA. It has asked DA to provide reports outlining the financial reporting and disclosure issues that might arise if they decided to list their subsidiary on the foreign exchanges of the potential countries it has identified.

Your supervisor, Miss Amy has provided you with detailed requirements for an individual report that is to be produced by you in section 2 below. The report requirements have been tailored by Miss Amy to meet the perceived needs of Tardis Ltd and the scope of your report should be limited to the issues outlined below. Miss Amy has further provided instructions for a team presentation that is to be produced in section 3 below.

Before starting your research, I highly recommend that you visit the following site: .rmit.edu.au/isearch/”>http://emedia.rmit.edu.au/isearch/ and complete the interactive tutorials which will assist you in locating relevant academic references such as journal articles etc for your report.

Please Note: As these reports are designed to simulate a real working experience you may find that you will need to spend some time reflecting upon the scope and purpose of the report you are to produce and your approach to the work that is to be undertaken. There is no one best way to approach ‘real-life’ work tasks such as these and it is expected that each individual and team will develop different methodologies and responses to the outlined tasks. The companies and Accounting firms discussed in the assignment are not real companies.

Section 2: Individual Report

Word Limit: 1500 words (not including letter of transmittal, executive summary, table of contents, references and appendices)

Weighting: 30%

Individual Report Requirements:

You are required to choose one of the following countriesidentified by Tardis Ltd and prepare findings regarding this country as outlined below:
1. Brazil .. this is the country I have to write about

A maximum of 5 students in each seminar will be approved to investigate each of the countries listed. Once you have chosen the country you will investigate you need to seek approval from your seminar leader IN CLASS (not via email etc).

Please note: the choice of country to investigate is up to you but consideration should also be given to the team report you will need to complete later. You must investigate the availability of appropriate resources before deciding upon a country.

You are required to present a written report to the partners of DA outlining your findings regarding the following issues:
The financial accounting reporting environment of your chosen country, with particular focus on the following aspects of the country’s financial reporting environment:

i. Historical Influences on financial reporting

ii. Cultural influences on financial reporting and disclosure practices

iii. Current influences on financial reporting and disclosure practices (eg. Harmonisation, global financial crisis etc)

Your discussion should incorporate relevant accounting theories into your discussion.

Marks will be allocated on the basis of the following submitted deliverable (please also refer to marking rubric):

A formal business report including:

Signed RMIT Coversheet
Blank copy of the Marking Rubric (available from learning hub)
Letter of Transmittal or memorandum
Executive Summary
Table of contents
Introduction (including purpose, scope, limitations and assumptions
Findings
Conclusion
List of References
Your report MUST be submitted to Turnitin and in hardcopy by 5pm on the due date. The hardcopy must have an RMIT coversheet and originality report attached, completed and signed or it will be returned, unmarked and late penalties will apply.

In addition, all assignments must also be submitted electronically via MyRMIT. Once you have received your originality report you must submit a word (.doc) version of this originality report in MyRMIT (you will find the link for this submission in the WIL assignment tab).

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