1. From a review of the last two years i.e., 2009 and 2010 annual reports of two Australian firms listed on the Australian Stock Exchange (ASX), identify and critically discuss the companys disclosure of:
a. AASB 116 Property, Plant and Equipment,
b. AASB 101 Presentation of Financial Statements and
c. AASB 1031 Materiality.
In your review you should discuss compliance or non-compliance with the three standards and explain differences in disclosure made by the two companies. Also in your discussion, explain how these disclosures can help users in their decision making. (Hint: make sure you define users). The report should be submitted to university turnitin by midnight of 7th February and a hardcopy to the lecturer or the library by Friday 10 february.
Words- 2000
Two asx listed company- Wesfarmers limited and Woolworth limited
Format – report
MARKING SCHEME RESEARCH ESSAY
SEMESTER 3, 2011
Student Name
Student Number
Mark out of 50
Assessments
Excellent
Very Good
Good
Average
Marginal
Poor
Very Poor
1. Synopsis/abstract(5 marks)
2. Discussion ofAASB 116 Property, Plant and Equipment Part A (10marks)
3. Discussion of AASB 101 Presentation of Financial Statements B (10marks)
4. Discussion ofAASB 1031 Materiality C (10marks)
5.Conclusion / recommendation (5marks)
6.Bibliography, referencing and citations (5marks)
7. English expression, coherence, grammar and spelling (5marks)
Assessment criteria to be applied on Assessments 1 to 7
Excellent: Work fulfilling the above criteria to an outstanding degree, in particular demonstrating excellence in sustained argument, critical thought and synthesis of material from diverse sources.
Very Good: Work demonstrating extensive knowledge and understanding of major content areas and issues; the ability to appropriately synthesise material from a range of sources; a well developed capacity for critical analysis of key issues and concepts; the ability to present a defensible personal perspective on issues; evidence of wide reading in relevant areas of the discipline; high quality presentation.
Good: Above average work demonstrating good knowledge and understanding of major content areas and issues; demonstration of some capacity for critical analysis; the ability to present a perspective on issues; evidence of reading in relevant areas of the discipline; high quality presentation.
Average: Work of average standard which demonstrates a good comprehension both of basic concepts and of more complex issues, based on class work and some further reading in the area; some ability to analyse and compare key concepts and theoretical perspectives; high quality presentation, particularly in regard to structure, expression and referencing.
Marginal: Work which shows a basic understanding of key elements of the subject matter at a descriptive level, based mainly on attendance at lectures; satisfactory presentation with few deficiencies in structure, expression or referencing.
Poor: Work which shows little evidence of knowledge or understanding of the subject matter and is unsatisfactorily presented, particularly in regard to structure, expression and referencing.
Very poor: Work which shows no evidence of knowledge or understanding of the subject matter.
