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BUACC3741 Assessment Task 2

Assessment Instructions:

This is a group Students must form a group of 2 to 3 members.
Once you have formed a group of 2-3 students, please read and follow the document titled “Instruction on how to form a group’. It is placed under “Assessment Task 2: Group Assignment Information” folder.
Please use the APA referencing style: https://federation.edu.au/library/student- resources/fedcite
Please monitor Moodle regulatory for any further instructions or

Assessment Feedback:

Students who submit their work by the due date will receive their marks and feedback on Moodle site within 15 working days of the assignment submission due date.

Submission Instructions:

This assignment must be completed using MS Word.
This assignment is to be submitted online only. (You are NOT required to submit a hard copy).
You are NOT required to upload an Assignment Cover Sheet. You are required to complete an Assignment Plagiarism declaration when you submit your assignment. (Assignment Plagiarism deceleration is placed below “Group Assignment Submission” Tab).
The completed assignment must be submitted into Assignment Dropbox on Moodle on or before the DUE
Once submitted you cannot take your assignment back but you can submit another The most recent version submitted will be marked. However, this must be submitted before the DUE DATE.

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 assignment works is misplaced, you 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.

Work in a group:

You are required to form groups of 2-3 members for this assessment. Your group must be set up on Moodle as per instructions found in the document called “Form your group members”. Once you form your group the next stage is to all meet up either in person or online using Skype, Zoom, WhatsApp, or a method of your choice.

Communication is very important when you work in a group. This assignment requires students to share their answers as some answers are dependent on the answer given to a previous question. Therefore, students are encouraged to use tools which allow them to share information and create documents collaboratively. Examples of these include OneDrive, Google Docs. Students are not limited to those and can choose their own tool.

Students can find out more information about how to use OneDrive from the following link: https://studyskills.federation.edu.au/technology/office-365/one-drive

If you are unable to resolve these issues, you are welcome to see your lecturer and tutor. We will try to sort out the problems together. Do this as soon as possible and certainly before the due date. In case of any dispute among the group members or if there are any free riders identified in the group, members should report to your lecturer in writing.

Important Notes:

Discussion area for this assignment: There is a discussion area on Moodle titled ‘Group Assignment discussion Forum’. This area is for you to discuss the It is an area for students to help each other.
General Guide to Writing and Study Skills: This assignment is to comply with the Federation University’s General Guide to Writing and Study Skills, General Guide to Referencing, and Assignment Layout and Appearance Guidelines, via the links below: https://studyskills.federation.edu.au/student-skills/ https://studyskills.federation.edu.au/student-skills/working-with-others/ https://studyskills.federation.edu.au/assessment/
Penalties for late submission: the marking penalties will apply if you submit an assessment task after the due date without an approved extension: 10% will be deuced from available marks for each calendar day up to ten days, and work that is submitted more than ten days after the due date will not be

Requests for extension of time must be made with the lecturer concerned and based on Special Consideration guidelines. For further information on Discretionary Assessment

Extensions and Special Consideration, including access to the policy, procedures or associated forms, see

https://federation.edu.au/current-students/essential-info/administration/special- consideration

Plagiarism: Students must fully reference the relevant sources of all materials (i.e., textbooks, journals, newspapers, or internet, etc), even if you have re-expressed the idea, facts, or descriptions, and not submit their work that has been researched and written by another Plagiarism and collusion are forms of cheating and are considered a serious academic misconduct, and severe penalties are associated with them. Please refer to the university policy for more information. https://policy.federation.edu.au/university/student_plagiarism/ch01.php https://studyskills.federation.edu.au/referencing/how-to-avoid-plagiarism/
Turnitin: Students are strongly recommended to check originality through Turnitin, prior to submitting the final For more information about Turnitin and how to check for originality, refer to the following useful links: https://studyskills.federation.edu.au/technology/university-systems/turnitin/

Assignment

It would be a good idea that before your first meeting, each team members reads “Myer Holdings Limited 2020 Annual Report” (Available on Moodle) so that you are able to present your point view about the assessment task for Part A. It is recommended that each group member is allocated a question, you should then allocate a different group member to provide feedback on the answers given for each question. (This is a suggestion only. Students can allocate the work differently and please keep in mind that every member in your team MUST participate and answer questions as well as provide feedback to others).

Please use “Action Plan Template Form” (Available on Moodle) to record details of your group meetings such as who attended for each meeting, set deadlines that group members agree to have their questions and feedback completed, etc. Every time you meet you should document the meeting somehow, so you can go back and look at this when you write your team evaluation. Please provide a copy to each team member to ensure they all agree on what was said.

This assignment has TWO parts.

Part A: Group Assignment Task

Myer Holdings Limited 2020 annual report is provided in a separate file.

Based on the 2020 Annual Report for Myer Holdings Limited, prepare a planning memorandum for the audit partner which includes the following:

Required:

Identify Four major business risks of Myer Holdings Limited and provide a detailed explanation of why each factor is identified as a risk to the
Results of analytical procedures. It is recommended that you prepare a horizonal analysis, vertical analysis, and prepare key ratios. (Examples of analytical procedure analysis are available on Moodle). Identify and explain which changes in the Horizonal analysis, vertical analysis, and ratio analysis would trigger further investigation in the audit for (Note: Need to include your workings in the Appendix).
Identify Four inherent risks that you identify from business risk and analytical procedures in points 1 and 2. (Note: Business risks are not the same as inherent risks).
Identify a key account and a key related auditor’s assertion at risk of material misstatement based on the inherent risk you identify in point 3. (Note: Identify a key account and a key assertion for each of the four inherent risks identified in point 3).
Calculate planning materially in a dollar ($) amount. You must include a breakdown of your calculation and a justification of your choice of base, the percentage used and your assessment of detection Assume the company’s control risk is high.
Determine a number of methods the company can implement to overcome the high control risk. Assume the company’s control risk is

Part B: Task to be completed individually

All group members are required to complete and submit a peer review individually. You will be assessed on the response you give in this section so simply giving a “yes the team worked well together” or “no it did not work well” is not enough. This will involve evaluating and describing your own learning experience in this assignment.

Required:

This part of the assessment requires you to critique your own performance and how you worked in the team. You will be assessed under THREE areas: team communication, team commitment and constructive teamwork. When developing your evaluation, please include some of the questions below but please note it is not limited to these questions.

1. Team Communication:

What kind of communication did you use to contact the group? How often did you communicate with the group? You must provide evidence of this (e.g., emails, phone records or room bookings for meetings).
When communicating to your group did you communicate effectively? Did you have any troubles understanding what other group members thought were important issues?
Did your group members engage in useful discussion about the assessment and collaborate with each other? Or did you feel you were the only one making

2. Team Commitment:

When did the group first form?
When did the group have its first meeting?
Was I supportive of my group and did I behave in a professional manner?
Did you turn up to meetings and were you on time and prepared? Keep a record of who turned up to meetings and what was discussed as this can form part of your evidence
Did you complete your work as per the action plan? If not, did you tell the group you needed longer?
Did your group members conduct themselves in a professional manner?
Did your group have any problems or issues that you helped to resolve?
What role did you play, were you the team leader?

3. Constructive Teamwork:

Did your group’s members provide useful feedback to each other in a timely manner?

If yes attach evidence of this.

What was the level of work provided to the group, did it need multiple revisions?
Did you feel you all worked well as a team or did each group member go off on their own?
If you did provide feedback to the group, did they take this into consideration or did you feel they just answer the question regardless of what you said?
How did your actions help the group in completing the tasks on time?

Important Note for Part B:

It is important to understand that if you DO NOT provide evidence to support what you are claiming, your mark in this part will be ZERO.

In order to undertake this task, you need to keep evidence of this as you work on the assignment. This could be in the form of emails, copies of feedback provided in Part A, images, or audio content.

In order to get you started you are required at your first meeting to record the details using the Action Plan Template Form and this must be submitted as an evidence. This will help you remember what was decided and which team members said what. At every meeting, you or your team member should record this information. You may also like to fill in the self- evaluation template and submit this as evidence. This is available in the assessment folder. If you provide feedback to your team members include a copy of the feedback and the date it was given etc.

If you have conflict in the group record why there was conflict, did another group member not agree with your point of view, and how it was resolved. If your team members take a long time to reply to emails, keep evidence of this. Any evidence you provide can be included in the Appendix. By having the evidence, you will be able to reflect back on it and critique your own performance. It Is important that you submit the evidence. Copies of group email communications is a great form of evidence as you will be assessed on your team communication, team commitment, and feedback provided to your team members. Please attach this evidence to your submission. The evidence is not counted as part of the word count for this section.

Assessment Submission Requirement:

1. Each student must submit their own copy of the assignment.

Each group member submits the SAME answer for Part A, and receive the same mark for Part
Each group member submits OWN answer for Part B and receive the individual mark for Part

Assessment Format:

· Title page:

Include the group number and the name and student number of team

· For Part A:

Heading 1: Introduction (not include in the word count)
Heading 2: Identification of business risks
Heading 3: Results of analytical procedures
Heading 4: Identification of inherent risks
Heading 5: Key account and key related assertion
Heading 6: Planning materially
Heading 7: Recommendations

· For Part B:

Heading 1: Team Communication
Heading 2: Team Commitment
Heading 3: Constructive Teamwork

· Reference list (not include in the word count)

Appendix (not include in the word count)
- Attach Tables for analytical procedures (essential)
- Attach Action Plan Template Form (essential)
- Attach Self-Evaluation Template for Teamwork (optional)
- Attach evidence to show you and your group members are working on the This could be in the screenshots or images of emails, phone calls, chats with communication tools (e.g., WhatsApp, Facebook, Zoom, etc), copies of feedback provided in Part A, or audio content.