MAA310 Accounting and Society Assignment 1

Background

The Australian Securities and Investments Commissioners (ASIC) has been closely scrutinising listed entities’ operating and financial review (OFR), which accompanies the financial report. The OFR complements the financial report in revealing the drivers of the entity’s results, strategies and prospects, as well as material business risks that can affect the achievement of the financial prospects described.

Specific Requirements

Assume you are a business consultant, reporting to the Board of Directors of Flight Centre Travel Group Limited (FLT), which is one of the world’s largest travel groups with a vast leisure and corporate travel sales network. FLT has been listed on the ASX since 1995. It currently has a market capitalisation of approximately

$AU 3.46 billion. You have been contracted to provide a business report to FLT’s Board of Directors which:

1. discusses why FLT should provide material business risk disclosures in annual reports taking an agency theory In your response, ensure you explicitly define, explain and apply agency theory. (Suggested words: 450)
2. discusses why FLT should provide material business risk disclosures in annual reports taking an institutional theory In your response, ensure you explicitly define, explain and apply institutional theory. (Suggested words: 450)
3. evaluates the adequacy and quality of FLT’s material business risk disclosures in its 2021 annual report¹ (Suggested words: 300).
4. identifies and justifies two material business risks that FLT are likely to encounter for the financial year ending 30 June 2022, which should be disclosed in its 2022 annual report. You are required to undertake firm-specific, market, and/or industry research to generate relevant insights for this (Suggested words: 400)

Other Requirements

¹ FLT’s 2021 annual report is available at: https://www.fctgl.com/wp-content/uploads/2021/09/FLT-2021-Annual- Report.pdf

• You must complete the professional literacy module to unlock the drop box for this Assessment
• Include headings and sub-headings.
• An executive summary is required, in addition to the
• Your submission must comply with the Harvard referencing
• Your report is addressed to the Board of Directors, therefore it must be written in a professional

Learning Outcomes

This task allows you to demonstrate achievement towards the unit learning outcomes. The ULOs are aligned with specific graduate learning outcomes – that is, the skills and knowledge graduates are expected to have upon completion of their studies – and this assessment task is an important tool in determining achievement of those outcomes.

If you do not demonstrate achievement of the unit learning outcomes, you will not be successful in this unit.

It is good practice to familiarise yourself with the ULOs and GLOs as they provide guidance on the

knowledge, understanding and skills you’re expected to demonstrate upon completion of the unit. In this way they can be used to guide your study.

Submission

You are to submit your assignment in the individual Assignment Dropbox in the MAA310 CloudDeakin unit 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_[unitcode].doc (or ‘.docx’). For example,

‘Jones_Barry_123456789_MAA310.doc’.

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.

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 for this task is below and also available in the MAA310 CloudDeakin unit site - in the Assessment folder (under Assessment Resources).

It is always a useful exercise to familiarise yourself with the criteria before completing any assessment task. Criteria act as a boundary around the task and help identify what assessors are looking for specifically in your submission. The criteria are drawn from the unit’s learning outcomes ensuring they align with appropriate graduate attribute/s.

Identifying the standard you aim to achieve is also a useful strategy for success and to that end, familiarising yourself with the descriptor for that standard is highly recommended.

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 will only be granted for exceptional and/or unavoidable circumstances outside the student’s control.

Work commitment or holidays or other assignments are NOT grounds for an extension – you are expected to manage these issues as part of your studies. You are strongly encouraged to start early and to continually backup your assignment as you progress. Computer crashes or corrupted files will NOT be accepted as valid reasons for an extension of any length.

Students seeking an extension for an assignment prior to the due date should apply directly to the Unit Chair by completing the Assignment and Online Test Extension Application Form. Requests for extensions will not be considered after 12 noon, 1 April 2022. Applications for special consideration after the due date must be submitted via StudentConnect.

Late submission

The following marking penalties will apply if you submit an assessment task after the due date without an approved extension: 5% will be deducted from available marks for each day up to five days, and work that is submitted more than five days after the due date will not be marked and will receive 0% for the task.

'Day' means working day for paper submissions and calendar day for electronic submissions. The Unit Chair may refuse to accept a late submission where it is unreasonable or impracticable to assess the task after the due date.

Calculation of the late penalty is as follows: this is based on the assignment being due on a Thursday at 8:00pm

• 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%
• 3 days late: submitted after Saturday 11:59pm and before Sunday 11:59pm – 15%
• 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%

Dropbox closes the Tuesday after 11:59pm AEST 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

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 plagiarism and other study support resources at the following website: http://www.deakin.edu.au/students/study-support

Academic misconduct

For information about academic misconduct, special consideration, extensions, and assessment feedback, please refer to the document Your rights and responsibilities as a student in this Unit in the first folder next to the Unit Guide in the Resources area of the CloudDeakin unit site.