ACCT101 Financial Accounting Team Project 2023/2024 Term 2

Instructor contact details:

Lee Geok Lian

Email address geoklianlee@smu.edu.sg
Consultation Week 8 (recess week): 28-29 Feb 2024

Team component (10%) + Individual review of another presentation (5%)

1. Objectives

This project is designed to enhance your understanding of what constitutes useful

financial accounting information and its application in practice. Therefore, you and
your teammates must:

✓ Assess the financial position and performance of your allocated company

based on a reasonable examination of the financial statements, notes to the
accounts and other disclosures; and
✓ Integrate non-accounting information to support your analysis and opinions.
In addition, you will engage in effective communication and apply your critical
thinking skills in a team setting.

In the interests of fairness, submission of your team’s pre-recorded presentation is

also a declaration by all team members that your team has not used unauthorised
third-party materials nor inappropriately used AI tools in completing this assessment.

2. Company to analyse

Your team has been allocated a Singapore Exchange listed company to analyse
(see Annex 3). Please note that you are NOT to contact your allocated company,
its agents or competitors to obtain research data or make enquiries. You are to use
ONLY PUBLICLY AVAILABLE INFORMATION. Under no circumstances should you
use unpublished or confidential data. Where two sets of numbers are shown (Group
and Company), please use only the GROUP FINANCIAL NUMBERS, not the
numbers for the company. When reading the Income Statement, ignore anything
that comes after total profit (loss) for the year after taxation.

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3. Deliverables: To be submitted on eLearn

The Project has two deliverables (one as a team and the other individually).

Team collaboration (10%):

1. Pre-recorded video presentation (10%)
Team Leader to submit the video recording together with your presentation
file & links to Annual Reports by 18:00 (6pm), 25 Mar 2024.

Individual attempt (5%):

2. Review another team’s pre-recorded video presentation (5%)
Individually, submit your written review by 18:00 (6pm), 1 Apr 2024.
Your individual review submission must not exceed one page.

Late submissions may be accepted on a case-by-case basis but, generally, a 50%

penalty will apply if the deliverable is submitted less than 24 hours late. Deliverables
submitted more than 24 hours late or not submitted at all will be awarded zero.

3.1 Pre-recorded video presentation: Team effort (10%)

Each team has up to twenty minutes to present your project findings. All team
members must present. The presentation must be audio-visually recorded and
show the presenter (a small window will do). The presenting student’s identity
must also be disclosed (verbal identification or text-based identification; for
instance, the student’s initials in a corner of the frame while they are speaking).

Each team should address the following in your video recording:

Quantitative analysis of company’s financial situation (weight 70%)

Please download the most recent Annual Report for your allocated company
from its website (Investor Relations page) or from the Singapore Exchange site.
You should use the figures shown for the Group (not the company). Your
allocated company is listed in Annex 3. The Annual Report should include a
Sustainability Report. If not, there will be a separate document for you to
download. Your team is also encouraged to use alternative sources of
information (e.g., company’s website, press releases, newspaper clippings, etc.)
to supplement your analysis. All sources of information must be cited and
referenced properly in your presentation file submitted.

You are required to analyse your company’s financial statements and ESG
report card and evaluate how it has performed in the past two years. As part of
your evaluation, you should address the following:

a. Vertical analysis (20%)

Submit a link to your chosen competitor’s Annual Report.
b. Horizontal analysis (10%)

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 c. Ratio analysis, namely
i. Risk analysis: Liquidity &/or Solvency (any 3 ratios) (10%)
ii. Profitability analysis: any 3 ratios (10%)
d. What did you learn from comparing your common-size balance sheet
and income statement against your competitor? (10%)
e. What did you learn about your company’s performance over time
from your horizontal analysis and ratio analysis? (10%)

Where possible, relate any indicators calculated to actual happenings within

your company, the industry and the economy in general. Note that to achieve
better than a C grade, you need to comment on why an indicator may have
changed and how your company’s indicators compare with industry
benchmarks or competitor firm (include a link to your chosen competitor’s
Annual Report) to give your analysis a clearer context. You should also include
any assumptions that you make. All workings including the common-size
income statement and balance sheet, horizontal analysis income statement
and balance sheet, and ratio calculations should be included as an appendix in
your team’s presentation file. All three required analysis (vertical; horizontal;
ratio) are discussed at length in your textbook: Spiceland (5e or 6e). For a quick
reference, refer to the illustrations in Annex 1. Note that these are extracted
with permission from McGraw-Hill, solely for your reference.

Qualitative analysis of your company’s performance (weight 30%)

You should examine their ESG report card and address the following:

a. Overview of your company and its industry (weight 10%)

Overview of your allocated company and an assessment of its industry,
including its major product lines/services, competitors and
management’s expectations for the future, as well as the economic
outlook overall.

b. Review of your company’s ESG performance (weight 20%)

i. Identify the material ESG factors selected.
ii. Briefly summarise the reasons for the selection of each factor
identified in i) above and identify the targets set for the
forthcoming year. Are these appropriate targets (what is your
team’s opinion), why or why not?
iii. Describe the major climate risks and opportunities facing your
company.
iv. Is there a connection between the information in the
Sustainability Report and the Financial Statements for the
current reporting year? How might the information reported in
the current Sustainability Report influence the financial
statements in future years?

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3.2 Review another team’s video presentation: Individual effort (5%)
Each team will be assigned to review and evaluate another team’s pre-recorded
video. Refer to the Table in Annex 2 for the team you are assigned to review.
Each member is tasked to individually submit a written review to:
a. Describe a key takeaway from your assigned team’s presentation.
(weight 20%)
b. Constructively comment on an area that your assigned team could
have done better in, and why this is important. (weight 40%)

c. With the additional insights gained from this review, constructively

critique and comment on an area that your own team could have
done better in, and why this is important. (weight 40%)

Areas you may choose to comment on include your assigned team’s: i) financial
analysis, ii) sustainability or ESG performance, iii) understanding of their
company and its industry, or iv) quality of presentation.

In the interests of fairness, the submission of this individual review constitutes

your declaration that the work presented is fully original; composed solely by
yourself, and that you have not used unauthorised third-party materials or
inappropriately used AI tools in completing this assessment. Keep your review
submission to a maximum length of one page.

3.3 Peer evaluation: Individual effort (Feedback exercise)

Each individual is required to complete a peer evaluation to reflect on your
experience in this collaboration.
a. Rate each of your team member. How well does each member work
within the team? Would you avoid this member in future collaborations?
b. Comment on your personal team experience (six to eight sentences,
but more if you wish), positive and not so positive.

This peer evaluation requirement is in addition to the two graded deliverables

listed above (paras 3.1 and 3.2). Submit your peer evaluation together with your
written review by 18:00 (6pm), 1 Apr 2024. Failure to do so will result in a 20-
mark penalty applied to you personally, to be deducted from your overall team
score in the pre-recorded video presentation. Peer review is a great way to seek
the opinions of others in a fair and objective manner. It may prompt you to
devise pre-emptive strategies to improve future team collaboration and
communication. Please keep me informed early if problems arise within the
team that cannot be easily resolved, so that we can agree upon a way forward.

See Annex 2 for the peer evaluation form & marking rubric for the above
deliverables (3.1 & 3.2).

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Annex 1
Chapter 12: Financial Statement Analysis Techniques

Copyright @ McGraw-Hill Education. Permission required for reproduction or display.

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Annex 2

Marking rubric for the pre-recorded video presentation (10%)

Attribute Exceptional Proficient Competent Fail

A B C/D

Identifies all relevant Identifies most Identifies key

Overview (10%) issues holistically, issues holistically, issues in isolation, Weak and
showing showing some showing little unconvincing;
thoughtfulness and insight. insight. lacks insight.
insight.

Conclusions from
vertical analysis Shows an Shows a Shows an
(20%) exceptional level of proficient level of adequate level of
Conclusions from synthesis and synthesis and synthesis and Limited ability to
horizontal analysis evaluation of the evaluation of the evaluation of the synthesise and
(10%) facts. Addresses all facts. Addresses facts. Addresses evaluate the facts.
Conclusions drawn essential points. most essential only obvious
from ratio analysis points. points.
(20%)
Comparison against
competitor (10%) Demonstrates Demonstrates Demonstrates
exceptional critical strong critical acceptable critical Unable to identify
Comparison over thinking with well- thinking with well- thinking and even obvious
time (10%) reasoned and reasoned opinions are issues. Unfocused
reflective independent reasoned thought processes
independent opinions. adequately. and/or limited
opinions. Assesses Assesses the Assesses the responses.
ESG performance the situation situation situation Irrelevant material
review (20%) comprehensively. thoroughly. No adequately. Some obscures the
No irrelevant irrelevant material irrelevant material message.
material or opinions. or opinions. or opinions.

Peer evaluation form: Submitted by: __________________ G12 / G13

Team #: 1/ 2/ 3/ 4/ 5/ 6/ 7/ 8/ 9 Team reviewed: 1/ 2/ 3/ 4/ 5/ 6/ 7/ 8/ 9

Team member’s name Rating

Rate each member by CROSSING OUT the faces that do not apply. Legend: Poor (avoid in future)

My reflection and/or comments (good and not so good) about my personal team
experience (six to eight sentences, but more if you want to share).

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Marking rubric for the individual review of another team’s video (5%)

Attribute Exceptional Proficient Competent Fail

A B C/D

Description is clear, Description is

Key takeaway concise and reasonably clear, Description is Description is
(20%) relevant, showing showing some ambiguous. confusing, not
thoughtfulness and insight. Shows little insight. specific or
insight. missing.

Presents well- Presents well- Unable to identify

Area for reasoned and reasoned Presents some even obvious
improvement in reflective opinions. opinions. measured issues.
the team video Assesses the Assesses the opinions. Assesses Unfocused
you reviewed. situation situation the situation thought
(40%) constructively and constructively and adequately. processes and/or
comprehensively. thoroughly. limited responses.

Presents well- Presents well- Unable to identify

Area for reasoned and reasoned Presents some even obvious
improvement in reflective opinions. opinions. measured issues.
the team you Assesses the Assesses the opinions. Assesses Unfocused
worked with. situation situation the situation thought
(40%) constructively and constructively and adequately. processes and/or
comprehensively. thoroughly. limited responses.

Individual members from each team will be required to review another team’s pre-
recorded presentation video. Check the following Table for the specific team’s video
you are assigned to review and evaluate.

Team #/ Assigned Company Assigned video presentation to review

Section
1: G12 Fraser and Neave Limited 2: G12 Yeo Hiap Seng Ltd
2: G12 Yeo Hiap Seng Ltd 3: G12 Sheng Siong Group Ltd
3: G12 Sheng Siong Group Ltd 4: G12 The Hour Glass Limited
4: G12 The Hour Glass Limited 5: G12 Singapore Airlines Limited
5: G12 Singapore Airlines Limited 6: G12 Singapore Telecommunications Limited
6: G12 Singapore Telecommunications Limited 7: G12 Sheng Siong Group Ltd
7: G12 Sheng Siong Group Ltd 8: G12 The Hour Glass Limited
8: G12 The Hour Glass Limited 9: G12 Singapore Airlines Limited
9: G12 Singapore Airlines Limited 1: G12 Fraser and Neave Limited

1: G13 Fraser and Neave Limited 2: G13 Yeo Hiap Seng Ltd
2: G13 Yeo Hiap Seng Ltd 3: G13 Singapore Telecommunications Limited
3: G13 Singapore Telecommunications Limited 4: G13 Sheng Siong Group Ltd
4: G13 Sheng Siong Group Ltd 5: G13 The Hour Glass Limited
5: G13 The Hour Glass Limited 6: G13 Singapore Airlines Limited
6: G13 Singapore Airlines Limited 7: G13 Singapore Telecommunications Limited
7: G13 Singapore Telecommunications Limited 8: G13 Sheng Siong Group Ltd
8: G13 Sheng Siong Group Ltd 9: G13 The Hour Glass Limited
9: G13 The Hour Glass Limited 1: G13 Fraser and Neave Limited

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Annex 3

List of companies assigned for analysis.

Section G12:
Team number Assigned Company Annual report
G12. Team 1 Fraser and Neave Limited FN Annual Report 2022.ashx
(sgx.com)
G12. Team 2 Yeo Hiap Seng Ltd YHS - Annual Report 2022.ashx
(sgx.com)
G12 Teams 3 & 7 Sheng Siong Group Ltd FY 2022 Annual Report.ashx
(sgx.com)
G12 Teams 4 & 8 The Hour Glass Limited TheHourGlass-Financial23.indd
(sgx.com)
G12 Teams 5 & 9 Singapore Airlines Limited SIA AR2022-23 Full AR .ashx
(sgx.com)
G12 Team 6 Singapore Telecommunications Limited Singtel_Annual Report 2023.ashx
(sgx.com)

Section G13:
Team number Assigned Company Annual report
G13 Team 1 Fraser and Neave Limited FN Annual Report 2022.ashx
(sgx.com)
G13 Team 2 Yeo Hiap Seng Ltd YHS - Annual Report 2022.ashx
(sgx.com)
G13 Teams 3 & 7 Singapore Telecommunications Limited Singtel_Annual Report 2023.ashx
(sgx.com)
G13 Teams 4 & 8 Sheng Siong Group Ltd FY 2022 Annual Report.ashx
(sgx.com)
G13 Teams 5 & 9 The Hour Glass Limited TheHourGlass-Financial23.indd
(sgx.com)
G13 Team 6 Singapore Airlines Limited SIA AR2022-23 Full AR .ashx
(sgx.com)

Let me know as soon as possible if your team experiences difficulties locating the correct
reports.

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