Professional Documents
Culture Documents
Financial Accounting B
Semester 2, 2021
Individual Assignment
General information:
Completion of this assignment is compulsory. The assignment should be submitted
as a word document in electronic form only using the ‘Turnitin’ assessment
portal on Canvas. No submissions will be accepted via email.
Due date: 4pm 3 September 2021 (Friday, Week 4). Note – this is one week’s
extension on what the Unit of Study Outline says. If you submit after the due
date, a late penalty of 10% per day, or part thereof, including weekends, will be
applied. Furthermore, as noted in your unit of study outline, any assignment
submitted beyond the closing date of 4pm 13 September 2021, will result in a mark
of zero.
Format:
12 point font, Times New Roman, paragraphs formatted with 1.5 line spacing,
and with margins of 2.5cm. This assignment must be done in ‘Word’ or other text
format program. Do not use ‘Excel’ or other non-text programs to do this
assignment.
Your responses must not exceed 2 pages in total, including any footnotes,
appendices and images. You may also provide any bibliography/reference list as a
further 3rd separate page. As such, you may therefore submit up to 3 pages; 2 pages
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of text, and a separate page for the bibliography. Any work after these allowed pages
will not be marked. Failure to comply with these requirements will incur penalties.
(you will note that the unit of study outline specifies 800 words in total; here we
have reinterpreted this as 2 pages plus 1 page for your bibliography, all using the
font and spacing as per the preceding dot point. You will find that this is a generous
reinterpretation of that 800 word limit). It is each student’s responsibility to ensure
these requirements are complied with.
Your assignment must be appropriately and properly referenced using the
American Psychological Association referencing style (or APA as it is more
commonly known). The University of Sydney library provides helpful guidance on
using APA style referencing,
http://libguides.library.usyd.edu.au/c.php?g=508212&p=3476096
You can also refer to Other Resources on the ACCT 3011 Canvas site for additional
guidance.
In the footer of your word document you must show your SID and include page
numbers. For example, ‘123456789 …..page 1”. Other guidance on how to submit
using Turnitin is provided in the assessment folder on Canvas. The filename of your
submitted assignment should also be your SID. For example, “123456789.doc”.
As a student of the University, you are responsible for taking part in your education in
an honest and authentic manner. It is therefore expected that you take extra care to
ensure that there are no breaches of academic honesty. All assignments will be
manually and electronically checked for plagiarism (copying). Any perceived breaches
of academic honesty will be referred to the Office of Educational Integrity for further
investigation and penalised if verified. You can read more information on what
plagiarism is and how to avoid plagiarism from the University link:
https://sydney.edu.au/students/academic-dishonesty.html
All sources of support for the assignment must be acknowledged. Failure to
acknowledge such support may potentially breach the University’s academic honesty
requirements.
If necessary, students are advised to refer to the special consideration advice contained
in the Administration Manual for Students on the Faculty website:
https://business.sydney.edu.au/students/policy.
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Grade Descriptors:
Due to the specific nature of this assignment, students are advised that generic
submissions will not score high marks. The following can at best be considered as a
general indication, assuming consistency in quality of component parts.
The contents of this assignment have been designed for educational purposes
only. All names and facts provided are imagined.
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The assignment
Background:
Brisbane Ltd (“Brisbane”) produces sporting equipment. Most of that equipment is sold
to the cities hosting each four yearly summer Olympic Games program. Brisbane has
an issued capital of 100 ordinary shares. As at 30 June 2021, 49 of those shares are held
by Paris Ltd (“Paris”), 45 are held by Los Angeles Ltd (“Los Angeles”), and the
remaining 6 are held by several smaller shareholders. Brisbane, Paris and Los Angeles
are all companies registered in Australia.
1. Brisbane’s Board of Directors has seven (7) members. At 30 June 2021, four
(4) of those board members (Ms Chang, Mr Zhou, Ms Brown and Ms West),
were also on the board of Paris. At 30 June 2021, two (2) of Brisbane’s other
board members (Mr Smith, and Ms Kita) were also on the board of Los Angeles.
Ms Kita is the Chief Executive Officer (CEO) of Brisbane. The other one (1)
Brisbane director at 30 June 2021, does not sit on either the Paris board or the
Los Angeles board. It is likely that Ms Chang and Mr Zhou will resign soon
from all board positions.
2. Paris has an agreement with Brisbane which expires on 30 June 2024, allowing
Paris exclusive rights to purchase Brisbane’s sporting equipment.
3. Due to the economic losses of the 2020 Tokyo Olympic Games, Brisbane has
made substantial losses in the past year. Both major shareholders are therefore
keen to argue that they do not have control.
Required:
You are the financial accountant at Paris Ltd. Write a report to Paris Ltd’s Board of
Directors that assesses whether Brisbane Ltd should be regarded as a subsidiary as at
30 June 2021 in accordance with the requirements of AASB 10: Consolidated Financial
Statements.
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Appendix I. Assessment criteria
Introduction /4
Final mark Converted to 10% of the total mark for ACCT3011 /40