Assessment Information – Trimester 1, 2018
Subject Code: ACCM 4300
Subject Name: Financial Accounting & Reporting 2
Assessment Title: Teamwork Assignment
Learning Outcome 4: Develop written and oral communication strategies to enable the effective
presentation of accounting information to accountants and non-accountants. ACCM 4300 – Australian Dairy Farms Group.
Work in teams (groups) of 3 (4 with prior approval from your lecturer – if your lecturer has not
approved a team of 4 the work you do will not be considered/marked) and write a
memorandum (“memo”) to the board of directors (assume the members of the board have
varying degrees of accounting knowledge or understanding) and then present your findings
addressing the issues noted in the assignment details. ACCM 4300 – Australian Dairy Farms Group.
Your team presentation will be limited to 10 minutes (13 minutes for 4 members if applicable)
and each member of the team must present a part of it demonstrating individual oral
presentation skills. A separate mark will be given to each member of the team for individual
presentation skills. You must discuss the selection of teams with your lecturer who may decide
to allocate you into teams or form teams using a random process. ACCM 4300 – Australian Dairy Farms Group.
The Assignment is designed to test the following skills:
1. Your knowledge and your ability to research the issues and then apply the information
appropriately using judgement
2. Your communication skills and teamwork: team presentations and written: memowriting.
Part A Technical Component (15%) – This mark covers the technical content of your advice and the
explanation on each of the issues, the calculations and the sources and references used, and the
format of the memo as well as the group technical knowledge during the presentation.
Part B Professional Competency Skills: Communication Skills – Oral presentations (10%) –
This mark covers the presentation skills of the individual student of 5% and a team mark of 5% for the
content, structure and visual aids for the presentation.
Please make sure you follow the guidelines relating to presentation of written work, late policy and
academic integrity. Please familiarise yourself with the assessment marking rubric (attached) to
guide you in how you can score marks. ACCM 4300 – Australian Dairy Farms Group.
Team Research Assignment – Written Memo and Presentation
Details of Assignment:
The class will be grouped into (ideally) teams of 3. You must discuss the selection of teams with your
lecturer who may decide to allocate you into teams or form teams using a random process. Your
lecturer may accept a team of 4 members – but you need to discuss this with your lecturer, obtain
approval and finalise your team members. ACCM 4300 – Australian Dairy Farms Group.
Select a set of financial statements for a group of companies and obtain approval from your lecturer
for the group of companies that you have selected. Please note that two teams may not work on the
same group of companies so if another team has already registered their interest in the particular
group of companies you will be requested to select a different group of companies. Read the annual
report including the financial statements of the group and write a memorandum (a report format will
not be marked) to the board of directors clearly explaining some of the technical aspects of
consolidation. Make sure that you draw on the selected group of companies’ specific details to
explain the intricacies of consolidation to the board, and as much as possible avoid answering in
general terms. ACCM 4300 – Australian Dairy Farms Group.
Some of the aspects that you need to cover as a team are:
1. The composition of the group; namely the subsidiaries, associates, any joint ventures and any
other significant investments – summarise for the memo
2. Why did the parent entity have to prepare consolidated financial statements when the subsidiary
company is a separate legal entity in its own right? Is there a need for disclosure in the financial
statements? Legal requirement or otherwise?
3. The non-controlling interest – where would you find it in the financial statements and what does it
represent? Details of any direct and indirect non-controlling interest? What do these mean? Is it
important to show them separately? Why or why not?
4. Has there been any goodwill on acquisition? Or any gain on bargain purchase? Where would you
find it in the financial statements and what does it mean? Have there been any impairments to
assets during the period?
5. Intra-group transactions and balances: How much are they? In which set of financial statements will
we be able to locate them? Are they an important part of the consolidation process? Why or why
6. Does the group have any foreign subsidiary companies? How have they been accounted for in the
financial statements? How have the subsidiary company’s financial statements been translated?
7. Does the published set of group financial statements reveal the company’s policy on any of the
following areas, namely Sustainability; Corporate governance; Audit committees; Solvency? If so,
where is the information located and why is it included? Is it compulsory to disclose these
statements? Why or why not?
8. Any other relevant matter that you may wish the board of directors to make note of in respect of
some transaction or event, balance of account or disclosure that will assist them in
understanding the financial statements of the group. ACCM 4300 – Australian Dairy Farms Group.
Team Research Assignment – Written Memo and Presentation
Your team is required to explain the financial statements of the group of companies you have selected
to the board of directors making sure you bring to their attention any unusual or interesting information.
Please note that it doesn’t necessarily mean you need to present the information relating to the
questions above. ACCM 4300 – Australian Dairy Farms Group.
Your team presentation will be limited to 10 minutes (per group of 3) and each member of the team
must present a part of it demonstrating individual oral presentation skills. A separate mark will be
given to each member of the team for individual presentation skills.
Note: You are not required to present your complete answer in the oral presentation by your team but
can choose to present a part of your written assignment or alternatively a totally different aspect of the
group you have selected within the 10-minute time frame (13 minutes for a group of 4). Remember to
work as a team when presenting your company’s information to the board. Team presentations longer
than the set limit will be penalised. ACCM 4300 – Australian Dairy Farms Group.
1. The team should have a minimum of three meetings (the team may have as many meetings as
they need to) and should maintain minutes of those meetings detailing –
2. Where the meeting was held
3. People present; absent; apologies
4. What was discussed and agreed on;
5. The follow up action relating to each member of the team;
6. Any other relevant matter, things you agreed or disagreed onetc.
The minutes of team meetings should be included as an attachment with the written copy of
your assignment – the memo. ACCM 4300 – Australian Dairy Farms Group.
Note: The assessment marking rubrics is a separate document and you are advised to read
through it to obtain guidance on how the lecturers will mark your assignment.
1. Presentation – according to the information given above, each team will make a
presentation explaining the financial statements of the group of companies you have
selected to the board of directors making sure you bring to their attention any unusual or
2. Memo (written submission) from Team – this written document will need to be submitted
via ‘Moodle’ and will also include minutes of team meetings – see instructions on the team
cover sheet attached. ACCM 4300 – Australian Dairy Farms Group.
ACCM 4300 – Australian Dairy Farms Group
Australian Dairy Farms Group
In 2007 financial statement, Australian Dairy Farms Group prepared a consolidated
financial statement even for its subsidiaries. Consolidated financial statements are combined
financial statements that are prepared by the parent company and its subsidiaries presented as a
single economic entity (Deegan, 2012). There are a number of reasons why Australian Dairy
Farms Group prepared the consolidated financial statement. First, it is a legal requirement by the
Australian government. According to s. 9 of AASB 127, a parent company is mandated to
prepare a consolidated financial statement in which it should consolidate its investments in all
the subsidiaries as per the laid down standard. Further, s. 10 of AASB 127 states that the parent
is only exempted from preparing a financial statement only if it is wholly owned by the
subsidiary, the debt or equity instruments are not publicly traded, or it has not filed financial
reports with security commission, if the international parent company has prepared such a
statement and it is available for public use……
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