This task addresses the Subject Outline learning objectives 1 and 3. This task also contributes to the development of graduate attributes 1.0, 3.0 and 5.0.
The mark for this task is 30%.
The presentation of this report is divided into Part 1 and Part 2. Part 1 must be no more than 300 words and must explain what are the present arrangements regarding reporting by companies and, you should also state whether, in your opinion, the existing disclosure arrangements are adequate and if not why not. Part 1 must not exceed 300 words – feedback will be provided by the lecturer as to whether or not your proposed structure of the report is reasonable. There is no allocation of marks at this stage.
Part 2 is to be a minimum of 1800 words and combined with Part 1 is meant to provide a comprehensive analysis of the existing corporate reporting for all companies. Annual; reports are expected to be clear and concise and they should tell the users what is the company’s financial position and this includes consideration of future business strategies risks and prospects – you are required to discuss whether or not these objectives are presently being achieved and if not to provide reasoned logical argument as to how the reporting can be improved.
There are numerous presentations/papers delivered by ASIC (all on the ASIC website) covering conferences where Commissioners of ASIC have expressed their views regarding the need to improve the quality of reporting. ASIC Regulatory Guides 230 and 247, amongst many other reports and conference papers, have dealt in depth with the topic and ASIC continues to urge corporate officers to voluntarily make the investment of improving corporate reporting.
Finally, if you feel that the only way reporting can be improved is by the introduction of punitive provisions within the Corporations Act then you should finalise your paper with a discussion of what provisions need to be introduced and what penalties civil/criminal should be imposed.
The assignment requires independent thinking, evaluation and critical analysis. You will be assessed on the originality of your discussion and analysis. Mere rephrasing or summarizing existing authors will not result in high marks. At this level of academic pursuit there is a need to provide evidence of independent thinking.
Remember plagiarism is prohibited.
