ACC510 Task 2 – Semester 2 2018
Due Date: Midnight Monday of week 11 (24 September 2018)
General information about the assignment
The assignment must be your own individual work; i.e. it is not a group assignment. If it is
believed that a student has copied material from another student or any other source without
appropriate referencing, the necessary action will be taken under the University’s Student
Academic Misconduct Policy: http://www.usc.edu.au/explore /policies-and-procedures/
You have to submit the assignment only electronically via Safe Assignment on the course
Blackboard site. If you want to apply for an extension to your submission date, please email
Md Hafij Ullah (email@example.com) to explain the circumstances and attach any necessary
supporting documentation. Late penalties will be applied for assignments submitted after
midnight on the due date without an approved extension. More details on late penalties are
provided in the course outline.
Marks Distribution: Marks will be allocated to each component of the assignment as follows:
1 Introduction 1
2 Property, plant and equipment 4
3 Intangible assets 5
4 Provisions, contingent liabilities (commitments) and contingent assets 5
5 Leases 5
6 Revenue 5
7 Conclusion 1
8 Quality of communication 2
9 References (In-text and list of references) 2
You have been randomly assigned an Australian publicly listed company (refer to the separate
excel spreadsheet provided to identify your company). Using the financial reports for your
company, you are required to prepare an essay that addresses the 7 requirements listed below.
1. Introduction (Company’s main operation/ what the assignment is about/ Topics covered)
2. (a) Select a non-current asset from the financial statements of your company. Provide
details of this item (including identify the valuation method used for this item).
(b) With reference to qualitative characteristics, provide an argument for using an
alternative valuation method for this non-current asset.
3. (a) Provide details of the intangible assets reported by your company.
(b) Evaluate how the company fulfilled its disclosure requirements in relation to
4. (a) Provide details of the provisions and contingencies recorded or disclosed by your
(b) With reference to one specific contingency recorded or disclosed by the company,
provide an argument for and against the inclusion of the contingency in the financial
5. (a) Provide details of leased items that are recorded or disclosed by your company.
(b) Discuss the classification and presentation requirements relevant to leased items,
and in doing so provide an explanation for how the leased items of your company have
been presented on the financial statements.
6. (a) Provide details of the revenue disclosed in the annual report of the company.
(b) Justify the revenue recognition criteria for a specific (major) revenue of the
7. Conclusion (final overview of the findings)
The set word count for your assignment is 1,500 words (±10% will be considered acceptable).
Direct quotes, where used appropriately, will not be considered to contribute to your word
count. In-text references and list of References will also not be considered to contribute to your