T1 2024 MPA702 Assessment Task 1- Marking Rubric

T1 2024 MPA702 Assessment Task 1- Marking Rubric

Performance Levels/Criteria N (0-29) N (30-49) P (50-59) C (60-69) D (70-79) HD (80-100)

Transactions analysis and preparation of Income statement and Balance sheet.

ULO1, GLO1

(50 marks to be scaled back to 10 marks) Includes incomplete tasks/

demonstrates multiple and significant errors in transaction analysis and treatment of both depreciation and balance day adjustments.

Follows income statement presentation and classification requirements with a significant number of missing accounts; classifies transactions with multiple and significant errors.

Follows balance sheet presentation and classification requirements with many omitted accounts/reported incorrectly. Demonstrates multiple and significant errors in recognising accounting events and preparation of the required financial statements. Includes incomplete tasks/

demonstrates multiple errors in transaction analysis and treatment of both depreciation and balance day adjustments.

Follows income statement presentation and classification requirements with a significant number of omitted accounts; classifies transactions with multiple errors.

Follows balance sheet presentation and classification requirements with a few omitted accounts/reported incorrectly. Demonstrates multiple errors in recognising accounting events and preparation of the required financial statements. Follows correct steps but some errors in transaction analysis and treatment of both depreciation and balance day adjustments are evident.

Follows income statement presentation and classification requirements with some errors; omits some accounts and transactions.

Follows balance sheet presentation and classification requirements with some errors; omits some accounts /reports incorrectly. Recognises all accounting events and prepares the required financial statements with some errors.

Adequately conducts transaction analysis and treatment of both depreciation and balance day adjustments. Follows most of income statement presentation and classification requirementswith minimal errors; classifies most transactions with minimal errors; includes most accounts. Follows all balance sheet presentation and classification requirements with minimal errors; includes most accounts. Recognises all accounting events and prepares the required financial statements with minimal errors.

Conducts a comprehensive transaction analysis and treatment of both depreciation and balance day adjustments.

Follows income statement presentation and classification requirements with all accounts included and transactions classified only with minor errors.

Follows all balance sheet presentation and classification requirements with accounts included and with minor errors. Recognises all accounting events and prepares the required financial statements with minor errors.

Conducts a comprehensive and thorough transaction analysis and treatment of both depreciation and balance day adjustments.

Methodically follows all income statement presentation and classification requirements with all accounts included and all transactions appropriately classified.

Methodically follows all balance sheet presentation and classification requirements with all accounts included. Accurately recognises all accounting events and correctly prepares the required financial statements.

Integrated Reporting: explanation of its nature and purposes; Identification and explanation of MDChic IR content

ULO2 and GLO8

(50 marks to be scaled back to 10 marks) Very little or no evidence demonstrated on task awareness.

Arguments and logical progressions are (largely) missing.

Very little or no evidence of relevant research. Texts cited are not linked to essay topic. No acknowledgement

of sources.

Incoherent writing and indiscernible essay structure. Essay difficult to read and follow. Little evidence of task awareness. Poor discussion of the background issue.

Lack of logical progression

and/or accurate

interpretation. Poor

evaluation of the issues

leading to inadequate

argument.

Little evidence of

relevant research. Texts

selected may be inappropriate or irrelevant. Texts cited are poorlyintegrated. Poor

acknowledgement

of sources. Poor paraphrasing.

Poor structure and

presentation. Extensive

spelling and/or grammatical mistakes. Task awareness is discernible but limited. Limited discussion of the background issue.

Position is discernible. Evidence of logical progression. Limited evaluation of the issues. There is some attempt at argument, but support is limited.

Evidence of basic

research, but somesources may beinappropriate or irrelevant. Texts cited are weakly integrated or linked to essay topic. Citing, paraphrasing,

and referencing isattempted, but may be faulty.

Essay containsessential elements,

however, organisationand linking may beweak. Some spelling

and/or grammatical

errors. Task awareness and discussion of background issue are appropriate but need greater clarity.

Position is presented,

developed and supported. Evaluation of the issues is mostly adequate. Arguments

are developed with some support but there may be inconsistencies.

Sources are used appropriately to support position but they may be limited in scope and quality. Texts cited are integrated or linked to essay topic, but with inconsistency. Some errors in citing, paraphrasing, and

referencing may persist.

Essay contains essentialelements; paragraphs

are organised and

linked. Written expression is generally adequate and

appropriate. Very few spelling and/or grammatical errors. Task awareness and discussion of

background issue areclear and appropriate.

Logical progression from a clear position to a critical stance in the evaluation of the issues drawing upon relevant support. Argument are persuasive and engaging.

Well selected texts and

evidence of wide reading. Clear engagement with

academic sources which

are well-utilised to

support position. Citing, paraphrasing, and

referencing are generally appropriate and accurate.

Essay contains essentialelements; paragraphs are well-linked and balanced. Written expression is well-controlled for accuracy and concision with only occasional errors. Deep task awareness.

Concise discussion of the background issue.

Clear, well integrated

position is evident throughout. There isthorough critical evaluation of the issues leading to logical, well supported and convincing arguments.

Clear evidence of a wide variety of quality academic reading. Skillful engagement and deployment of sources to enrich discussion and

evaluation. Accurate and skillful citing, paraphrasing, and referencing.

Expert clear, concise with no spelling and/or grammatical errors and excellent presentation.

Overall100 N0 or above N30 or above P50 or above C60 or above D70 or above HD80 or above

Name:

Student ID:

Part A (1)

MDChic - Worksheet

Assets Liabilities Owners Equity

Transaction Date Account

Increase,

Decrease Amount

$ Account

Increase,

Decrease Amount

$ Account

Increase,

Decrease Amount

$

1/01/24 Cash 200,000 Capital 200,000

Part A(2)

MDChic

Income statement for month ending 31 January 2024

$ $ $

(Add or remove columns and/or rows if you wish)

MDChic

Balance Sheet as at 31 January 2024

$ $ $

(Add or remove columns and/or rows if wish)

MPA702 Financial Interpretation Trimester 1 2024

Assessment Task 1 Report Individual

DUE DATE:Sunday, 14 April 2024, by 8:00pm (Melbourne time)

PERCENTAGE OF FINAL GRADE:20%

WORD COUNT:2000 words

Description

Purpose

This assessment task is divided in two parts:

Part A: This first part of the task focuses on your practical knowledge of analysis of accounting transactions and content and structures of the two key financial statements, income statement and balance sheet. This knowledge is fundamental for understanding the information of corporate financial reporting.

Part B: This second part of the task requires you to conduct research on Integrated Reporting (IR) and reflect on its relevance.

Context/ScenarioMaya Das is a fashion enthusiast with a strong commitment to sustainability. On 1 January 2024 she established MDChic, a small boutique fashion label. Maya focused on creating a strong identity for MDChic, emphasizing its commitment to sustainability and sourcing ethical products.

Maya's passion for fashion was evident from an early age. However, as she became more aware of the environmental and social impact of the fashion industry, she felt compelled to align her passion with her values. With a background in design and a keen interest in sustainability, Maya saw an opportunity to set up a boutique that not only offered stylish clothing but also prioritized ethical and eco-friendly practices. She identified a gap in the market for affordable yet stylish sustainable clothing, especially targeting the millennial and Gen Z demographic.

Her shop is based in Melbourne CBD, but she has established a strong online presence, and serves both individual customers and other shops.

During the month of January 2024 MDChic completed the transactions listed below.

Specific Requirements

Part A (25+8 +17 = 50 marks)

Please note that your answers to all questions of part A must be in one file.

Required:

Part A (1) - You are required to record the following events into the transaction analysis chart or indicate if the event is not an accounting event (template provided in a separate word document).

Ignore GST and Income tax.

Round figures to the nearest dollar (if required).

Date Transactions

1 January 2024 Maya opened a business bank account and deposited $200,000 of her own funds into the account. (Please note: This transaction is already recorded in the worksheet)

2 January 2024 Signed a rental contract for the business shop and paid three months rent in advance totalling $9,000.

2 January 2024 Purchased shop furniture for $7,000 payment due in 14 days.

2 January 2024 Purchased stock (clothing items) from Jesse P Ltd for $60,000, paying $30,000 in cash and the balance due in 30 days.

3 January 2024 Paid $1,500 for the delivery, unpacking and installation of the furniture in cash.

5 January 2024 Maya discusses leasing contracts for a company car.

5 January 2024 Maya purchases a three-month subscription (January- March) to fashion magazines for $2,100 cash.

7 January 2024 Maya invoiced The Gipsy Collective Ltd, her first client, $6,000 -10 days credit terms.

10 January 2024 Maya invoiced Howard and Co for $10,000 - 30 days credit term.

11 January 2024 Maya hires Jason Tai as assistant.

15 January 2024 The Gipsy Collective Ltd paid its account in full.

16 January 2024 Paid the shop furniture in full.

20 January 2024 Howard and Co settled 50% of its account.

22 January 2024 Paid to Jesse P Ltd 50% of the outstanding amount.

25 January 2024 Paid wages totalling $3,300, $300 of which was deducted for PAYG.

28 January 2024 Invoiced corporate clients for $7,000 10 days credit terms.

29 January 2024 Paid electricity bill of $300 for the month of January 2024.

29 January 2024 Received a prepayment of cash for $20,000 for a contracted job to be performed in March.

30 January 2024 Maya withdrew $2,000 from the business for personal use.

Additional information at the end of the month (31 January 2024)

Salaries owing at balance date are $520.

As of 31 January, Maya counted stock and determined that the cost of sales is $10,350.

Depreciation information:

Shop furniture: 4 years, $1,300 residual value, straight line method.

PART A (2)

Prepare MDChic Income Statement and Balance Sheet for the month ending 31 January 2024.

Please note that your answer to this part (A2) must be presented after part (A1) in the same file.

Part B (50 marks)

Maya has expanded her business, and she now designs and manufactures the clothing she sells in her boutique shop. Her operations have expanded considerably, and she has created a company with 10 additional shareholders, called EcoChic Pty Ltd. All shareholders share the same values and are very keen to be as transparent and accountable as possible. Thus she decided to ask you to help her investigating and preparing an Integrated Report. Even though EcoChic Pty Ltd is not required to prepare an annual report, Maya and the other shareholders wish to communicate EcoChic Pty Ltd financial performance and sustainability efforts to the companys stakeholders.

Required:

You are required to conduct research to answer the following:

Briefly explain the nature and purposes of Integrated Reporting.

For each capital, identify and explain what information and data EcoChic PTY Ltd Integrated Report should include.

You may structure your document with the following suggested sections:

Introduction (suggesting 100 words).

Body, can be presented under some subheadings (suggesting 1000 words).

Conclusion (suggesting 100 words).

Additional information:

You are expected to undertake research to complete this task. Review of chapter 3 of the textbook can be a good point to start with and also the videos on Integrated Reporting available on our CloudDeakin site, in Week 1 materials. Your research should also include further primary-source references i.e. peer-reviewed journal articles, scholarly books, and professional publications (avoid Wikipedia type material).

You are required to use a minimum of 6 references (minimum 3 academic peer reviewed journal articles and the other 3 can be from other types of resources e.g., scholarly books, professional publications) to support your discussion. The referred book (textbook) can be one of the 3 other types of resources.

Word Limit: 1200 words (excluding reference list), double-spaced, 12-point Ariel, or Times New Roman font. A word count must be included. Students exceeding the word limit by more than 10% will incur a mark penalty.

Students must submit a properly referenced assignment that complies with the Harvard referencing style. This includes in-text citations and a reference list.

Your total mark out of 100 for Parts A and B will be converted to a percentage out of 20%.

Learning Outcomes

This task allows you to demonstrate your achievement towards the Unit Learning Outcomes (ULOs) which have been aligned to the Deakin Graduate Learning Outcomes (GLOs). Deakin GLOs describe the knowledge and capabilities graduates acquire and can demonstrate on completion of their course. This assessment task is an important tool in determining your achievement of the ULOs. If you do not demonstrate achievement of the ULOs you will not be successful in this unit. You are advised to familiarise yourself with these ULOs and GLOs as they will inform you on what you are expected to demonstrate for successful completion of this unit.

The learning outcomes that are aligned to this assessment task are:

Unit Learning Outcomes (ULOs) Graduate Learning Outcomes (GLOs)

ULO 1 Assess the financial standing of an entity by examining relevant financial information and identify how disclosure techniques can support business decisions. GLO 1 Discipline-specific knowledge and capabilities: appropriate to the level of study related to a discipline or profession

ULO 2 Evaluate scenarios involving ethical decisions in financial accounting. GLO 8 engaging ethically and productively in the professional context and with diverse communities and cultures in a global context

Submission

You must submit your assignment in the Assignment Dropbox in the unit CloudDeakin site on or before the due date. When uploading your assignment, name your document using the following syntax: <your surname_your first name_your Deakin student ID number_MPA702.doc (or .docx). For example, Jones_Barry_123456789_MPA702 Part A.doc.

Use the same title but change to - ...Part B for submitting the document with Part B answers.

You must type in your answer for Part A on the proforma provided. If not submitted on the proforma it will not be marked.

The completed assignment questions must be in two WORD files and submitted into the allocated areas on CloudDeakin under the Dropbox folder.

You are not required to upload an Assignment Cover Sheet.

Once submitted you cannot take your assignment back BUT you CAN SUBMIT another version. The most recent version submitted will be marked.

Please refer to the rubric for guidance on the marking structure.

Submitting a hard copy of this assignment is not required. You must keep a backup copy of every assignment you submit until the marked assignment has been returned to you. In the unlikely event that one of your assignments is misplaced you will need to submit your backup copy.

Any work you submit may be checked by electronic or other means for the purposes of detecting collusion and/or plagiarism and for authenticating work.

When you submit an assignment through your CloudDeakin unit site, you will receive an email to your Deakin email address confirming that it has been submitted. You should check that you can see your assignment in the Submissions view of the Assignment Dropbox folder after upload and check for, and keep, the email receipt for the submission.

Marking and feedback

The marking rubric indicates the assessment criteria for this task. It is available in the CloudDeakin unit site in the Assessment folder, under Assessment Resources. Criteria act as a boundary around the task and help specify what assessors are looking for in your submission. The criteria are drawn from the ULOs and align with the GLOs. You should familiarise yourself with the assessment criteria before completing and submitting this task.

Students who submit their work by the due date will receive their marks and feedback on CloudDeakin 15 working days after the submission date.

Extensions

Extensions can only be granted for exceptional and/or unavoidable circumstances outside of your control. Requests for extensions must be made by 12 noon on the submission date using the online Extension Request form under the Assessment tab on the unit CloudDeakin site. All requests for extensions should be supported by appropriate evidence (e.g., a medical certificate in the case of ill health).

Applications for extensions after 12 noon on the submission date require University level special consideration and these applications must be must be submitted via StudentConnect in your DeakinSync site.

Late submission penalties

If you submit an assessment task after the due date without an approved extension or special consideration, 5% will be deducted from the available marks for each day after the due date up to seven days*. Work submitted more than seven days after the due date will not be marked and will receive 0% for the task. The Unit Chair may refuse to accept a late submission where it is unreasonable or impracticable to assess the task after the due date. *'Day' means calendar day for electronic submissions and working day for paper submissions.

An example of how the calculation of the late penalty based on an assignment being due on a Thursday at 8:00pm is as follows:

1 day late: submitted after Thursday 11:59pm and before Friday 11:59pm 5% penalty.

2 days late: submitted after Friday 11:59pm and before Saturday 11:59pm 10% penalty.

3 days late: submitted after Saturday 11:59pm and before Sunday 11:59pm 15% penalty.

4 days late: submitted after Sunday 11:59pm and before Monday 11:59pm 20% penalty.

5 days late: submitted after Monday 11:59pm and before Tuesday 11:59pm 25% penalty.

6 days late: submitted after Tuesday 11:59pm and before Wednesday 11:59pm 30% penalty.

7 days late: submitted after Wednesday 11:59pm and before Thursday 11:59pm 35% penalty.

The Dropbox closes the Thursday after 11:59pm AEST/AEDT time.

Support

The Division of Student Life provides a range of Study Support resources and services, available throughout the academic year, including Writing Mentor and Maths Mentor online drop ins and the SmartThinking 24 hour writing feedback service at this link. If you would prefer some more in depth and tailored support, make an appointment online with a Language and Learning Adviser.

Referencing and Academic Integrity

Deakin takes academic integrity very seriously. It is important that you (and if a group task, your group) complete your own work in every assessment task Any material used in this assignment that is not your original work must be acknowledged as such and appropriately referenced. You can find information about referencing (and avoiding breaching academic integrity) and other study support resources at the following website: http://www.deakin.edu.au/students/study-supportYour rights and responsibilities as a student

As a student you have both rights and responsibilities. Please refer to the document Your rights and responsibilities as a student in the Unit Guide & Information section in the Content area in the CloudDeakin unit site.