Question structure:
The examination will consist of multiple choice, calculation question,s and short theory questions. The questions will be comparable to those covered in class; therefore, the best form of revision will be to work through lecture and tutorial questions, exercises, and problems.
Topic covered: Similar to that screenshot attached
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Advanced Financial
Accounting
700 word assignment (20%)
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Essay submission
• Due date: Friday 9th September at 5pm (17:00 AEST) WEEK 7
• Must be in pdf format and uploaded via the LMS.
• Will be submitted through Turnitin to check for plagiarism.
• 700 words in total. Note word count limit for each of the 3 questions.
• Worth 20% of your total mark.
• Academic misconduct = improper or no referencing, plagiarism, copying,
cheating.
• Late penalties apply: 5% penalty for each day (or part day) late up to maximum of 5
days.
• Special consideration applications need to be made through the proper channels and
will be approved by the subject coordinator in Melbourne.
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Essay requirements
The assignment question is available in the Assessment section of the LMS.
?ANSWER the 3 QUESTIONS.
?Be clear and concise when discussing the key points.
? Stay relevant to the topic.
? Show wide reading and research.
? Check presentation before submitting: format, spelling, vocabulary, readability.
? Use Harvard or APA 6 referencing styles: include in-text referencing and a
reference list. No limit for reference requirements.
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Question
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Summary of the essay question
Prattle Ltd, in the coming year, intend to:
• Expand their product line
• Expand their online sale offerings
• Implement a blockchain accounting ledger
They will need to raise MONEY to do this. To finance the first two projects:
• the CFO has suggested a share issue of $6 million to fund the plans above.
• a cheaper alternative would be to borrow money from the bank (debt
financing) but the company may breach its existing debt covenant
restriction.
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Summary of the essay question
With regard to the implementation of the blockchain ledger, the head of
accounting believes it could:
• improve the transparency and accuracy of the accounting records
• reduce the malfunctioning of the integration of the accounting and online
sales systems
• Eliminate the frequent omission and / or duplication of transactions in
the recording process of sales
The manager is, however, sceptical about the use of a blockchain
accounting ledger.
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The questions and word counts
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It is expected that you will read and refer to the
following readings in your report
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Questions 1 & 2
Use the following reading for questions 1 & 2:
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How to ANSWER the QUESTIONS
FOR QUESTION 1: (300 words)
1. Explain what creative accounting / window dressing is. Use the Creative Accounting
reading.
2. Find some debt ratio formulas from your previous accounting studies.
3. Find two examples of creative accounting that could improve these debt ratios (read the
Creative Accounting reading) so that Prattle Ltd would be in a better position to
convince their bank to give them a loan.
4. Explain how your two examples would improve the ratios.
5. Do some calculations to demonstrate how your two examples would improve the debt
ratios.
6. Use the reading to support your arguments.
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How to ANSWER the QUESTIONS
FOR QUESTION 2: (100 words)
1. Explain how creative accounting / window dressing can be unfair to the users of
Prattle Ltd’s financial reports e.g. the bank that might provide them with a loan
based on their ‘creative financial reports’ or the shareholders and creditors that
might be disadvantaged.
2. Use the Creative Accounting reading to find some ethical implications of
creative accounting.
3. Refer back to the examples you provided in question 1 to explain how your
creative accounting methods might be unethical.
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Question 3
Use the following readings for question 3:
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Blockchain readings
Blockchain reading: ‘Accounting & blockchain technology’:
• Good definition and description of blockchain and the triple ledger
• Benefits of blockchain: how blockchain can remove errors, prevent fraud and
improve reliability in accounting
Blockchain reading- ‘Triple entry accounting with Blockchain’:
• Provides examples of how blockchain could be used in accounting
• Details some of the disadvantages of blockchain
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Blockchain readings
Blockchain reading: ‘Implementation of blockchain technology in Accounting’
• Describes how blockchain could be used in accounting
• Advantages and disadvantages of blockchain in accounting
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How to ANSWER the QUESTIONS
FOR QUESTION 3: (300 words)
1. Define and explain what blockchain is in relation to accounting.
2. Explain how blockchain could be useful in accounting to prevent errors and fraud
and omission and/or duplication of sales transactions in the case of Prattle Ltd.
3. Provide some advantages of blockchain for Prattle Ltd. Provide some examples
of how blockchain could prevent errors and fraud.
4. Provide some disadvantages of blockchain to explain why the accountant of
Prattle Ltd might be sceptical of its benefits.
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Introduction & conclusion
• No introduction or conclusion is required for this assignment.
• Answer question 1, 2 and 3 separately and have a title for each part.
• Keep to the word count for each question.
• References are required.
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Referencing
• It is important to include a reference list
• It is important to include proper in-text citation of references used
• It is important to provide a reference for each and every argument / claim
you make in your report.
Please ensure you properly REFERENCE all material that you use.
(Do not use my PowerPoint slides as a source of reference).
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WARNING about referencing
If you quote from a reading or textbook or website, you need
to reference the material.
Best to write IN YOUR OWN WORDS, but you still need to
reference.
Plagiarism is academic misconduct.
There are severe penalties for academic misconduct:
remember you are in the 3rd year of your degree – no excuses!
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Remember to answer the
question fully, clearly, concisely
and critically!
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I hope you are staying safe and well.
Thank you and good luck!
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