MAA 716 Financial AccountingTrimester 2, 2018Assessment Task 2 DUE DATE AND TIME: Friday 28 Sep, 2018 before 11.59 pm (AEST)PERCENTAGE OF FINAL GRADE: 20% Learning…

MAA 716 Financial AccountingTrimester 2, 2018Assessment Task 2

DUE DATE AND TIME: Friday 28 Sep, 2018 before 11.59 pm (AEST)PERCENTAGE OF FINAL GRADE: 20%

Learning Outcome Details

Unit Learning Outcome (ULO) Graduate Learning Outcome(GLO)ULO 1:Explain, discuss and integrate the technical and theoreticalknowledge about the regulatory environment relating toAustralian corporate accounting and reporting; and apply therelevant concepts to “real” situations.GLO6: Self-managementULO 3:Explain, discuss and evaluate the issues involved in accountingfor investment in subsidiaries; and apply this knowledge inpreparing group accounts.GLO1: Discipline-specificknowledge and capabilities

Deakin’s Bachelor of Commerce and MBA are internationally EPAS accredited.Deakin Business School is accredited by AACSB.Page 2 of 4Assignment Instructions for Task 1 (GLO1):This assignment relates to Topic 8 to 10 on Investment in Subsidiary and requires the following to besubmitted:An excel workbook with the following seven (7) sheets:

       Sheet 1: Assignment InstructionsSheet 2: Background InformationSheet 3: Consolidated Journal EntriesSheet 4: Consolidated WorksheetSheet 5: Consolidated Income StatementSheet 6: Consolidated Statement of Financial Position/Balance SheetSheet 7: Discussion on Part (C)

Before you start the assignment, you must enter your student ID on the background informationsheet (Sheet 2; Cell B2) as each student will be given a different set of entries depending on theirunique student ID as the following:

Student IDInput your 9-digit ID here

Failure to do so will result in zero marks. You must use the excel workbook provided inanswering and submitting your answers. Other formats will not be accepted.Required:a) Prepare an acquisition analysis and the adjusting journal entries necessary to prepareconsolidated accounts for the year ending 30 June 2018 for the group comprising Chief Ltd andSub Ltd (In Sheet 3: Consolidated Journal Entries). (10 marks)b) Complete the consolidated worksheet for the year ending 30 June 2018 (In Sheet 4:Consolidated Worksheet).a. Entering the consolidated adjusting journal entries in Part (a) to the appropriate debit andcredit columns in sheet 4; andb. Calculate the Group figures by using formula (30 marks)c) Explain why consolidation adjusting entries are necessary by using one of your consolidationjournal entry that you have prepared in part A. (10 marks)(10 + 30 + 10 = 50 marks)Page 3 of 4Task 2 (GLO6)Write around 500 words reflecting on what you have learnt from the research activity you have taken inyour assignment 1. Reflect on your strengths and your weaknesses and provide list of actions that youwill take next time to improve your research skills. 10 marksAssessment Feedback:Students who submit their work by the due date will receive their marks and feedback onCloudDeakin on Monday 15 October, 2018 after 5.00 pmAssignment Requirements1. Please monitor CloudDeakin for any instructions/announcements.2. This is an Individual assignment (there is no group option).3. Each question must be completed on the individual excel workbook provided. The excelworkbook is located in the ‘Assessment Resources’ module, with this assignment.4. You will need to have completed Topic 8 to 10 Investment in Subsidiaries tocomplete this assignment.5. If you choose not to submit this question you will score zero – the marks cannot be added tothe final examination result.6. NOTE: The submission Due Date is Friday 28 Sep, 2018 before 11.59 pm (AEST). TheDropbox will remain open for late submissions. A penalty of 5% of total marks per day willbe applied. Late submissions after 5 days will not be marked as per Faculty’s Policy.7. Submit/upload your assignment to the Assignment 2 dropbox under the assessments tab (twofiles: one excel file for task 1 and word file for task 2)Submission InstructionsClick the name of the Assignment folder that you want to submit an assignment to.Carefully read the instructions relating to the assignment criteria and submission.Click Add a File.Note: You can upload a maximum of 250 MBfile. Submit items from your computer / localdisk.Add a comment if required.Click Submit.Page 4 of 4You will receive confirmation that your file submission was successful.You must keep a backup copy of every assignment you submit, until the marked assignment has beenreturned to you. In the unlikely event that one of your assignments is misplaced, you will need tosubmit your backup copy.Any work you submit may be checked by electronic or other means for the purposes of detectingcollusion and/or plagiarism.When you are required to submit an assignment through your CloudDeakin unit site, you will receivean email to your Deakin email address confirming that it has been submitted. You should check thatyou can see your assignment in the Submissions view of the Assignment dropbox folder after upload,and check for, and keep, the email receipt for the submission.Notes Penalties for late submission: The following marking penalties will apply if you submit anassessment task after the due date without an approved extension: 5% will be deducted fromavailable marks for each day up to five days, and work that is submitted more than five daysafter the due date will not be marked. You will receive 0% for the task. ‘Day’ means workingday for paper submissions and calendar day for electronic submissions. The Unit Chair mayrefuse to accept a late submission where it is unreasonable or impracticable to assess the taskafter the due date. For more information about academic misconduct, special consideration, extensions, andassessment feedback, please refer to the document Your rights and responsibilities as a studentin this Unit in the first folder next to the Unit Guide of the Resources area in the CloudDeakinunit sitePLEASE USE THE EXCEL WORKBOOK IN ANSWERING AND SUBMITTINGYOUR ANSWER FOR TASK 1 AND A WORD DOCUMENT FOR TASK 2.

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