BANKING ACADEMY OF VIETNAM BTEC HND IN BUSINESS (ACCOUNTING)

ASSIGNMENT COVER SHEET

NAME OF STUDENT REGISTRATION NO. UNIT TITLE ASSIGNMENT TITLE ASSIGNMENT NO NAME OF ASSESSOR SUBMISSION DEADLINE

Unit 10: Financial Accounting and Reporting

Financial Statements Regulatory Framework & Interpretation

1 of 2 (Group assignment)

We __________________________ hereby confirm that this assignment is our own work and not copied or plagiarized from any source. We have referenced the sources from which information is obtained by us for this assignment.

________________________________ Signature

_________________________ Date

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FOR OFFICIAL USE

Assignment Received By: Date:

FR A2 QCF Sept 2013 BAV

Unit Outcomes
Outcome Evidence for the criteria Feedback Assessors decision
First Re-

Internal Verification

Describe the different users of financial statements and their needs

1.1

Understand the regulatory framework for financial reporting LO1

Explain the legal and regulatory influences on financial statements

1.2

Assess the implications for users

1.3

Explain how different laws/regulations are dealt with by accounting and reporting standards Calculate accounting ratios to assess the performance and position of a business Prepare a report incorporating and interpreting accounting ratios, including suitable comparisons M1 D1 M2 D2

1.4

4.1

Be able to interpret financial statements LO4

4.2

Merit grades awarded Distinction grades awarded

M3 D3

FR A2 QCF Sept 2013 BAV

Outcome

Evidence for the criteria

Feedback

Assessors decision

Internal Verification

Assignment
( ) Well-structured; Reference is done properly / should be done (if any) Overall, youve

Areas for improvement:

ASSESSOR SIGNATURE

DATE

NAME:.........................................................................................

(Oral feedback was also provided) STUDENT SIGNATURE NAME :..............................................................................

FOR INTERNAL USE ONLY VERIFIED YES NO DATE NAME : .......................................................................... : ...........................................................................

DATE

VERIFIED BY : ...........................................................................

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SCENARIO You are working in a financial consultancy firm as a client service manager providing advice and assistance to clients on financial accounting and general business issues. You have been asked by Director of Finance in your company to prepare an analytical review of the financial position and reporting of a well-known company Starbucks You are required to download the most recent published financial statements of Starbucks as of December 31, 2012 and other information available, either in the public domain or from within the company. You will have to obtain a copy of those published statements; this process is itself a significant exercise in investigating sources of financial information. English language version Annual Report and Financial Statement

http://investor.starbucks.com/phoenix.zhtml?c=99518&p=irolreportsannual http://www.marketwatch.com/investing/stock/sbux/profile
Since first 1971, Starbucks has felt a responsibility to make a positive impact one person, one cup and one neighborhood at a time. As Starbucks has grown to now more than 18,000 stores in over 60 countries, Starbucks expanded its long-term relationship with Maxim's Group to now operate Starbucks stores in Vietnam, with the first store in Ho Chi Minh City in early February 2013. Starbucks recognizes that commitment to corporate citizenship is also a business imperative. Starbucks can use scale for good, and catalyze change across entire industries so that Starbucks and everyone it touches can endure and thrive. On a global level, Starbucks is trying to be innovative in how Starbucks think about communities. Starbucks go beyond the impact of a single company, to energize and activate its employees who is called partners along with Starbucks customers, suppliers and nonprofit partners. Starbucks annual Global Month of Service is a great example, with more than 230,000 hours of service and 2,100 projects completed in April 2012, and with plans to expand in new directions in 2013. Starbucks demonstrated the power that happens when its partners and a community come together. Starbucks opened in Vietnam to take hold of its own destiny. Starbucks is known as a global change ultimately resides in the power of each individual.

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Tasks The report (for Director of Finance) should address at least the following: Describe the different users (Stakeholders) of financial statements and their needs (1.1) Explain the legal and regulatory influences on financial statements preparation like Companies Act etc. (1.2) Assess the implications for users of financial statements (1.3)

Explain how different laws/regulations are dealt with by accounting and reporting standards (1.4) Calculate accounting ratios to assess the performance and position of Starbucks (4.1)

Prepare a report incorporating and interpreting accounting ratios, including suitable comparisons (4.2)

Notes: a key point summary of conclusions / recommendations; graphical illustration, where appropriate; a bibliography of sources of information used and references to texts or other material drawn from.

Detailed tables, extracts or copies of financial information, which should include a copy of the relevant financial statements, should be put in the appendices. You should refer to them in the body of the report.

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GRADING Pass is achieved by meeting all the requirements defined in the assessment criteria. (Refer page 2 of the assignment brief) Identify and apply strategies to find appropriate solutions (M1)

Merit

Characteristics / Possible Evidence an effective approach to study and researched to explain various regulatory framework and legislation implications on financial statements preparation. Select and apply appropriate techniques (M2)

Characteristics / Possible Evidence Apply range of methods and select suitable techniques such as ratio analysis and comparisons to interpret financial statements of Starbucks. Present and communicate appropriate findings (M3)

Characteristics / Possible Evidence The work is presented in a professionally-written report with appropriate structure and approach with the use of various methods of presentation. Distinction Take responsibility for managing and organising activities (D2)

Characteristics / Possible Evidence show an individual approach in presenting and communicating work coherently using language in the financial context. Demonstrate convergent, lateral, and creative thinking (D3)

Characteristics / Possible Evidence show an in-depth analysis of the company, Starbucks performance by convergent and lateral thinking through the ratio analysis.

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PRESENTATION 1. The assignment should have a cover page that includes the assignment title, assignment number, course title, module title, Lecturer/tutor name and students name. Attach all the pages of assignment brief/cover sheet with your report and leave them blank for official use. 2. Ensure that authenticity declaration has been signed. 3. This is a group assignment. 4. Content sheet with a list of all headings and page numbers. 5. A fully typed up professionally presented report document. Use 12 point Arial or Times New Roman script. 6. Your assignment should be word-processed and should not exceed 3,000 words in length. A CD should be included with references and accompanying notes. 7. Use the Harvard referencing system. 8. Exhibits/appendices are outside this limit. 9. The assignment should be not contain a bibliography but should contain a list of any references used in the assignment. NOTES TO STUDENTS FOR SUBMISSION Check carefully the submission date and the instructions given with the assignment. Late assignments will not be accepted. Ensure that you give yourself enough time to complete the assignment by the due date. Do not leave things such as printing to the last minute excuses of this nature will not be accepted for failure to hand-in the work on time. You must take responsibility for managing your own time effectively. If you are unable to hand in your assignment on time and have valid reasons such as illness, you may apply (in writing) for an extension. Failure to achieve a PASS grade will results in a REFERRAL grade being given. Take great care that if you use other peoples work or ideas in your assignment, you properly reference them in your text and any bibliography. NOTE: If you are caught plagiarizing, the University policy and procedures will apply.

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