Discuss how in choosing the accounting methods below the

Question

There are two options to answering Question 5; write an essay or create a short video. These options are explained below.

Regardless of whether you choose to write an essay or create a video as your answer, the grading of the question will be exactly the same. See the following rubric which gives guidance on the marking criteria for this question.

 

Grading Rubric - Question 5

	Task	Excellent	Adequate	Poor	Grade
	Concept and argument	All concepts have been introduced. The argument is fluid,reasoned, and wellsupported. It showsdepth, and uses pertinentquotations / references from multiple sources. It uses morethan one type of appeal.	Some concepts have been introduced. The argument isadequate. Somereasoning may belacking, but generallythe discussion leaves nomajor objections orchallenges.	There may be nodiscernibleargument, or theargument maybe severelylogically flawed.
	Organisation	The organisation is fluid,and features smoothtransitions. The discussion isfresh and invites reading / listeningwith varied sentencestructure, strong voiceand appropriate tone.	The organisation isadequate. Transitionsmay be slightlyawkward, but thereader / listener is able to followthe discussion easily. The discussion is clear.	The organizationmay be difficultor Impossible tofollow.There may seemto be little to nostructure to the discussion.
	Grammar / Spelling (essay) Articulation / clarity (video)	There are only insignificant grammatical / articulation errors, ifany.	There are no serious grammatical / articulation problems.	There may be seriousgrammatical / articulation errors thatprevent thereader / listener fromunderstanding oridentifying theideas in the discussion.
	Length	The essay / video does not exceed or fall short by 5% of the requirements. The composer haswritten / saidjust enough to fully arguetheir point.	The essay / video does not exceed or fall short 10% of the requirements. But the discussion isstill complete, andattempts to fully argueits point.	The essay / video maynot be theassigned length,or may be partlyor whollyplagiarized.

Option 1:

Write a 350 - 400 word essay on ONE of the 5 topics listed below.Your essay must be an original made by you successfully discussing the topic of your choice covering the key components of the topic and it should include references. See link above for referencing guidance.

Write your essay in the space below.

Option 2:

Create a 3 minute video that answers your choice of one of the 5 topics listed below.The video must be an original made by you successfully discussing the topic of your choice covering the key components of the topic and it should include references. If you submit a video, add your reference list in the Question 5 answer space below.

Use whatever means you have available, eg camera or smart phone. You may create a video whichever way you like, for example, you may like to pretend you are a newsreader, or go to your local shopping centre as a 'journalist' and interview people, or have somebody interview you. The choice is entirely up to you. You will have two files to load as your submission for this assignment, your answers to Part A of this document and your video file. See the first page of this assignment for details on submitting your video file.

Topics to choose from:

1. Discuss how, in choosing the accounting methods below, the following ratios can be affected - (i) rate of return on assets, (ii) quick ratio, (iii) profit margin, (iv) asset turnover:

1. a change in accounting method for depreciation from straight line to reducing balance
2. revaluation of a non-current asset upwards at the beginning of the current year
3. providing for an expected loss through obsolescence of certain items of merchandise inventory

2. Discuss the general limitations of financial statement analysis.

3. "Employees often fail to appreciate the true cost of their employment". Evaluate and discuss this statement. 

4. With the growing importance of computerised accounting systems, which inventory system (perpetual or periodic) has become more popular?  Explain why

5. You overhear a conversation between two Accounting for Business students. One student comments that "the effect of adjusting entries is either immaterial or non-existent over time" is this correct? If so why should accountants bother with the extra 'work' involved with the adjusting process? Why do accountants process adjusting journal entries?