代写 ACCT6010 Advanced Financial Reporting
Advanced Financial Reporting
Semester 1, 2016
Due: 10am Thursday 24 March 2016
Instructions and information
• Completion of all parts of this individual assignment is compulsory as stated in the
UoS Outline on page 2.
Each individual assignment should be submitted in electronic form only using the
‘Turnitin’ function on Blackboard (included within the ‘Assessment’ folder) by
10.00am, 24 March 2016. If you hand it in after the due date, a late penalty of 20%
per day, or part thereof, including weekends and public holidays, will be applied.
Submissions will NOT be accepted after the closing date of 10.00am, 31 March
2016. An AF grade will be awarded.
• Your assignment will be marked out of 15 as shown in Appendix 1.
• Answers to this individual assignment should not exceed 4 pages, being 800 words
or less including any attached footnotes, appendices and a bibliography or reference
list. Where an individual assignment is more than 10% above the 800 word limit,
10% of the total marks will be deducted, i.e. a 10% penalty will apply to
submissions between 881-960 words. An additional 10% of the total marks will be
deducted for each further 10% over the word limit thereafter. Please include the
final word count in the footer on page 1 of your assignment.
• Students should refer to the University of Sydney Business School Referencing
Guide for information in relation to referencing.
• Answers are to be 12 point font (either Times Roman or Arial) and paragraphs
formatted with 1.5 line spacing and with margins not less than 2.5cm. The
referencing used in all assessments in this unit should be in a consistent format.
• You are required to prepare assignments for submission using specific formatting
rules. In the header of your individual assignment you must show (i) the ACCT
6010 individual assignment student reference number (this will be available on
Blackboard); (ii) the UOS code; (iii) the assessment reference; (iv) year; the (v)
semester; and (vi) your 9 digit SID. Use underscores between each field and the
same order as above. The following is an example:
In this example the student reference number is 457 and the SID is 123456789.
The file name should follow the same format. For example:
• For your reference, a sample file complying with the submission criteria will be
available in the individual assignment folder on the ACCT6010 Blackboard site.
• Individual assignments without this formatting cannot be identified and may NOT
be graded. Other guidance on how to submit using Turnitin is also provided in the
assessment folder on the ACCT6010 Blackboard site.
• If necessary, students are advised to refer to the special consideration advice
contained in the Administration Manual for Students on the Faculty website:
Due to the specific nature of this individual assignment students are advised generic
submissions will not score high marks as the individual assignment requirements will
not be met. The following can at best be considered as a general indication, assuming
consistency in quality of component parts.
High Distinction Has addressed the purpose of the assignment comprehensively.
Distinction Has addressed the purpose of the assignment coherently.
Credit Has addressed the main purpose of the assignment .
Pass Some of the work is focused on the aims and themes of the assignment.
Fail Fails to address the task set
Questions about the assignment
Students are required to post all individual assignment queries to the individual
assignment forum on Blackboard. This is the required form of communication as it
provides an opportunity for all students to have access to the same information.
Guidance on the assurance of program learning outcomes that will be undertaken
through this assignment:
As noted in the unit of study outline PLO 1 will be assessed while PLO 4 will be
assured for the Master of Professional Accounting and the Master of Commerce
(Accounting) programs within ACCT6010 Advanced Financial Reporting through this
PLO 1Accounting Knowledge: Our Masters programs develop each graduate to be
a knowledgeable business practitioner leading to students who are able to
demonstrate an advanced integrated understanding of accounting principles,
techniques, standards, regulatory requirements and current global developments in
accounting and reporting. (Assessed in ACCT6010)
PLO 4 Communication: Our Masters programs develop each graduate to be a
persuasive communicator and negotiator leading to students who are able to reach
agreement with others about appropriate responses to problems and opportunities
within accounting and reporting, using a range of communication strategies.
(Assured in ACCT6010)
The contents of this individual assignment have been designed for educational
purposes only and are strictly hypothetical. It is based on publicly available
Background and other important information to this individual assignment:
As part of the pre work for an initial analyst briefing you have been requested to
research specific aspects of the intended 100% acquisition of Asciano Limited
(“Asciano”) by a jointly owned bid entity BidCo Holdings Pty Limited (“BidCo”).
BidCo is an arrangement between the consortium of Qube Holdings Limited (“Qube”),
Global Infrastructure Management Australia Pty Ltd (“GIP”), Canada Pension Plan
Investment Board (“CPPIB”) and Beijing Shunrong Investment Corporation
(“Shunrong”), hereafter referred to as the “Qube Consortium”. Further details of the
intended acquisition and other related transactions are found in the Bid Implementation
Deed dated 16 February 2016 available at:
This document is 77 pages.
Your assigned task for this individual assignment is to consider the financial reporting
implications for the Qube Group acquiring a 100% interest in Asciano’s terminal and
logistics business (“the Ports”). At the date of completing this individual assignment
students must assume the Australian Taxation Office and the Australian Competition
and Consumer Commission have approved the Asciano acquisition and Ports
transactions as included in the Bid Implementation Deed.
Several stakeholders are interested in the accounting implications from the Asciano
acquisition and Ports transactions. Hence, it is important for you to interpret the limited
information that is currently available and make informed, considered and professional
judgements. The questions in this individual assignment require you to investigate
issues, effectively communicate relevant discussion and develop well argued
conclusions. As described in the Appendix 1 assessment criteria, marks are allocated to
communication skills. The submitted responses will be assessed against all components
of the assessment criteria so as to provide students with appropriate feedback
concerning their performance. Communication and writing assistance is available
through the Learning Centre at:
Students should, when required by the following questions, refer to the resources listed
below to complete this individual assignment. Abbreviations of these references can be
used in your answers and reference list as shown in the square brackets below. Any
additional references have to follow the Business School’s Reference Guide.
• AASB 3: Business Combinations [AASB3]
• AASB 10: Consolidated Financial Statements [AASB10]
• “Asciano board accepts Qube takeover bid; Brookfield misses counterbid
deadline”, The Sydney Morning Herald, 16 February 2016 available at:
brookfield-doesnt-counteroffer-20160215-gmuymw [SMH 16/2/2016]
• “Qube granted access to Asciano’s books ahead of 9bm take overbid”, The
Sydney Morning Herald, 15 November 2015, available at:
9bn-takeover-bid-20151115-gkzhld.html [SMH 15/11/2015]
• Bid Implementation Deed, 16 February 2016 available at:
This document is 77 pages. [Bid Implementation Deed 16/2/2016]
• “Qube Consortium’s Revised Proposal for Asciano determined to be superior to
Brookfield proposal”, ASX Announcement, 8 February 2016, available at:
This document is 13 pages. [ASX 8/2/2016]
• Asciano financial statements for the year ended 30 June 2015. This document is
available at: http://asciano.com.au/investors/announcements/918/download
This document is 99 pages. The financial statements commence on page 31.
[Asciano Annual Report 2015]
• Qube financial statements for the year ended 30 June 2015. This document is
otice_of_AGM-2015-10.pdf [Qube Annual Report 2015]
This document is 150 pages. The financial statements commence on page 58.
• Any other pertinent information, e.g., additional Qube or Asciano press releases
and relevant readings. [Must be referenced in full]
Part A (14 marks)
Provide a separate answer for each of the following Part A sub questions. Your Part A
(a) and Part A (b) responses are required, in Part B of this individual assignment, to
be linked to relevant discussion points in your Part B essay style response.
a) Referring specifically to the recitals in the Bid Implementation Deed and Note
5.2 to the Asciano’s 30 June 2015 financial statements as well as other relevant
documentation explain how the:
(i) acquirer in the Qube Group; and
(ii) Qube Holdings Ltd
will account for the Qube Group’s acquisition of the Asciano’s Ports business.
Your explanations are to be accompanied by proforma journal entries in
relation to this acquisition in Qube Holdings Limited and separately the
acquirer in the Qube Group (Hint: Proforma journal entries only contain
account names, no dollar amounts are required); and
b) Using the Qube Group’s consolidated financial statements for the year ended
30 June 2015 and relevant balances from Asciano’s 30 June 2015 financial
statements, identify two (2) specific account balances that will change in future
consolidated financial statements for the Qube Group when recognising
Asciano’s Ports business as a wholly owned subsidiary. Your answer must also
provide explanations why the change will occur in each account balance.
Students are advised the thinking and analysis required within this individual
assignment will be examined in a S1 2016 mid semester exam question. As part of
your preparation for the mid semester exam, please ensure you independently and
actively engage with each question in this individual assignment.
代写 ACCT6010 Advanced Financial Reporting
Part B (16 marks)
“The Qube equity component within the revised proposal provides Asciano
shareholders with participation in the future upside of the combined Qube and
Asciano’s Ports business and direct exposure to benefits of Qube’s strategy and
Using a concise essay style similar to the format you learnt in ACCT 6001, evaluate
this statement. Your evaluation must consider and provide:
a) a discussion of the AASB 10 definition of control and how it will or will not
apply to the Qube Group’s interest in Asciano’s Port business. This discussion
point is to be linked back to the two (2) specific account balances identified in
your Part A (b) answer;
b) a discussion of the Qube equity to Asciano shareholders component of the
acquisition transaction and whether in your opinion it is or is not a
characteristic of control. This discussion point is to be linked back to the
explanation of the acquisition transaction included in your Part A (a) answer;
c) a persuasive conclusion in relation to the statement’s acclaimed benefits for
Asciano shareholders from the Qube/Asciano business combination
accompanied by one (1) supporting reason.
Appendix 1. Assessment criteria
Part Assessment guide BB feedback
Demonstrates detailed understanding of
acquisition transactions for different entities
within a group and their associated
accounting for unique aspects of a business
A(b) Capably chooses and explains changes, after
a business combination, to appropriate
accounts in a group’s future consolidated
Correctly uses source information and
technical references to prepare responses
which are appropriately structured and
Part B Prepares a considered argument to a stated
view that analyses the AASB 10 definition
of control, benefits of an acquisition and
persuasive conclusion to a stated view that
is accompanied by a valid supporting
Capably prepares a concise essay style
response which communicates a stated view
that is logically argued with supporting
links to other parts of this individual
Mark out of /30 for all parts /30
Final mark out of /15 for all parts /15
Footnotes:(1) Refer to detailed explanation for these feedback points. They will be available on BB at the time
individual assignments are returned to students.
代写 ACCT6010 Advanced Financial Reporting