Assessment Details and Submission Guidelines
|Course Name: Bachelor of Business|
|Assessment Title: Process costing – Solve|
The purpose of this assignment is to assess the following Learning Outcomes:
a. Describe the financial accounting standard setting process of Australia.
b. Discuss current issues and developments in accounting theory and financial reporting.
c. Evaluate different accounting theories and their implication in policy choice by managers.
d. Explain the Conceptual Framework and apply it to accounting activities, and identify strategies to meet accounting issues and problems.
e. Develop an ethical and social perspective on the use of accounting information.
a completed Assignment Cover Page.
format, 1.5 spacing, 11-pt Calibri (Body) font and 2 cm margins on all four sides of your page with appropriate section headings.
appropriately at the end in a Reference List using APA 6th edition for the School of Business.
Assessment Task Description: In addition to the Submission Guidelines appearing on page 1
You are required to submit via the specific Turnitin submission link.
A key aspect in your choice of format/layout should be to ensure you impart your key messages effectively (i.e., complete the requirements) and efficiently (i.e., it should be succinct and take into account the word limit).
Make sure all pages are numbered, and the text fits within the margins of your pages. Make sure to include the relevant heading.
a) Describe the components of the Other Comprehensive Income Statement (550 words only)
b) What is the importance of an accounting policy & its relevance to users of general purpose financial statements?
c) This is the Trial Balance of Al Capone Distilleries Pty Ltd (ACD) as of 30th June 2020.
|Gain on sale of plant & equipment (PPE)||9000|
|Cost of goods sold||550000|
|Selling and distribution expenses||45000|
|Income tax expense||72000|
(a) Al Capone recognised a revaluation gain of $18 000 net of tax for available-for-sale investments the business held during 2020.
(b) None of the available-for-sale investments were sold during 2020.
(c) The business uses the single statement format for the income statement and other comprehensive income and classifies expenses by function – not by nature.
You are required to prepare the statement of profit and loss. Also, prepare the other comprehensive income for ACD Pty Ltd, both for the year ended June 30 2020. Please include an analysis of expenses in the correct statement.
Semester T2, 2020, Assignment
|Detailed Description of the Criteria||Marks|
|Criterion 1||Structure and Clarity of the Report/Assignment|
|· introductory paragraph|
|· logical flow of clarity and structure of ideas and arguments· appropriate use of paragraph and headings toexplain and discuss ideas|
|· appropriate concluding paragraph and recommendations|
|Total marks for criterion 1||6|
|Total marks for criterion 2||10|
|Criterion 3||Investigation and Analysis (2-5 references must be cited)|
|· completeness of investigation, accuracy and depthof analysis|
|· quality of information sources, appropriate use of in- text and end text referencing, appropriatenumber of references used|
|Total marks for criterion 3||2|
|Total marks for presentation||2|
|· Power-points are original, include appropriatecontent and have systematic flow|
|· Ability to communicate clearly [Assessindividually]|
|· Demonstrated group cooperation, coordinationand collaboration|
|Total marks for criterion 5||5|
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