FACULTY OF BUSINESS AND SOCIETY
Assessment Cover Sheet
Part A: Regulations and Support
If there are any exceptional circumstances that may have affected your ability to undertake or submit this assignment, make sure you contact the Advice Zone on your campus prior to your submission deadline.
Fit to sit policy:
The University operates a fit to sit policy whereby you, in submitting or presenting yourself for an assessment, are declaring that you are fit to sit the assessment. You cannot subsequently claim that your performance in this assessment was affected by extenuating factors.
Plagiarism and Unfair Practice:
When submitting this assessment, you will be asked to declare that it is your own work and that the sources of information and material you have used (including the internet) have been fully identified and properly acknowledged as required . Additionally, the work presented should not have been submitted for any other assessment.
You should also understand that the Faculty reserves the right to investigate allegations of plagiarism or unfair practice which, if proven, could result in a fail in this assessment and may affect your progress.
Details of Submission:
You are required to submit your assignment online via Unilearn (Blackboard). When you do this, a Turnitin score will be generated. Turnitin is a tool used by USW to help detect and discourage plagiarism and to encourage good referencing skills. When you have viewed your Turnitin score, you will have the opportunity to make changes, update references and resubmit an assignment (as long as it is before the submission date). Please note however that it may take up to 24 hours to generate the new report score.
A guide for students (including how to submit your assignment and view your Turnitin score) can be found at:
Work submitted within five working days of the submission deadline will be given a maximum mark of 40% . Work submitted more than five days after the submission deadline will be given a mark of 0% unless there are valid extenuating circumstances. (Advice Zone to be consulted).
Support is available if you need help with report writing skills, referencing, how to lower your Turnitin score, working in a group, organising your time etc. You can download guides, go to a drop-in session, arrange a tutorial or get support via Skype or email. For more information on Study Skills go to the Advice Zone on B floor at City Campus or visit https://studyskills.southwales.ac.uk/.
If you need help with finding appropriate resources for your assignment, you will find useful information at https://studentlibrary.southwales.ac.uk/, such as FINDit (use to search for resources), specialised subject guides, guides to referencing and live chat to get you started. You can also make an appointment to meet with your Information librarian if you need more specific help.
You will be able to view your marked assignment on Unilearn (Blackboard) after the return date. Your feedback will include an overall grade, an indication of your performance against each of the criteria in the FBS Marking Criteria for Postgraduate Assessments shown below and comments within the assignment itself. Feedback should help you to identify areas where you have performed well and areas where you could improve for future work.
In addition, there may be some general feedback about the assignment which will indicate areas which differentiated between stronger and weaker performances in the tasks set.
PLEASE REFER TO YOUR STUDENT HANDBOOK AND THE REGULATIONS FOR TAUGHT COURSES FOR FURTHER INFORMATION RELATING TO ASSESSMENTS
IT IS YOUR RESPONSIBILITY TO KEEP A RECORD OF ALL WORK SUBMITTED
Part B: Marking and Assessment
(to be completed by Module Lecturer)
This assignment will be marked out of 100%.
This assignment contributes to 50% of the total module marks.
An individual word-processed report, not exceeding 4,500 words based on the requirement, referenced in accordance with the Harvard system.
In the event of failure, a replacement assignment will be issued during the resit period if applicable.
Learning Outcomes to be assessed (as specified in the validated module descriptor https://icis.southwales.ac.uk):
1. Critically evaluate the development of both the corporate reporting framework and specific standards.
2. Advise on and report complex issues surrounding the financial performance and position of single entities and groups; critically interpret financial statements for different stakeholders; and critically evaluate professional and ethical behaviour.
The following key skills are addressed in this assignment:
? Enquiry and analysis
? Problem solving
? Digital skills
Section Weighting Criteria (all sections)
1 Outline, critically, the key lessee accounting requirements contained in the new standard IFRS 16 Leases and whether/how the standard improves on IAS 17, the predecessor standard. 35% See the FBS marking criteria for postgraduate level assessments
2 Critically evaluate the expected impact of IFRS 16 on the key areas of financial statements of lessees, including the interpretation of those statements by investors and the markets. 35%
3 Critically evaluate the expected impact of IFRS 16 on the UK retail sector. You should specifically focus on the John Lewis Partnership, plus one other competitor. 20%
? Report style
? Spelling, punctuation and grammar
? Harvard referencing 10%
The weightings provided above give an indication of the relative importance of each area of the assignment and may be used to help plan your allocation of time and the available word count.
Grade Relevance Knowledge Analysis Argument and Structure Critical Evaluation Presentation Reference to Literature
Distinction 86 – 100% The work examined is exemplary and provides clear evidence of a complete grasp of the knowledge, understanding and skills appropriate to the level of the qualification. There is also ample excellent evidence showing that all the learning outcomes and skills appropriate to that level are fully satisfied. The work is exemplary in all the categories shown above and demonstrates a particularly compelling evaluation, originality, and elegance of argument, interpretation or discourse.
76-85% The work examined is outstanding and demonstrates comprehensive knowledge, understanding and skills appropriate to the level of the qualification. There is also excellent evidence showing that all the learning outcomes and skills appropriate to that level are fully satisfied. The work is outstanding in the majority of the categories shown above or demonstrates particularly compelling evaluation and elegance of argument, interpretation or discourse.
70 – 75% The work examined is excellent and is evidence of comprehensive knowledge, understanding and skills appropriate to the level of the qualification. There is also excellent evidence showing that all the learning outcomes and skills appropriate to that level are satisfied. The work will be excellent in the majority of the categories shown above or demonstrates particularly compelling evaluation and elegance of argument, interpretation or discourse.
60 – 69% Directly relevant to the requirements of the assessment A substantial knowledge of relevant material, showing a clear grasp of themes, questions and issues therein Comprehensive analysis - clear and orderly presentation Well supported, focussed argument which is clear and logically structured. Contains distinctive or independent thinking; and begins to formulate an independent position in relation to theory and/or practice. Well written, with standard spelling and grammar, in a readable style with acceptable format Critical appraisal of up-to-date and/or appropriate literature. Recognition of different perspectives. Very good use of a wide range of sophisticated source material.
50 – 59% A reasonable attempt to address the requirements of the assessment: may drift away from this in less focused passages Adequate knowledge of a fair range of relevant material, with intermittent evidence of an appreciation of its significance Reasonable analytical treatment which has a clear purpose Generally coherent and logically structured, using an appropriate mode of argument. It will contain some distinctive or independent thinking; may begin to formulate an independent position in relation to theory and/or practice. Competently written, with only minor lapses from standard grammar, with acceptable format Draws on a good variety of literature which includes recent texts and/or appropriate literature including a range of appropriate source material.
40 – 49% Some correlation with the requirements of the assessment but there is a significant degree of irrelevance Basic understanding of the subject but addressing a limited range of material Some analytical treatment, but may be prone to description, or to narrative, which lacks clear analytical purpose Some attempt to construct a coherent argument but may suffer loss of focus and consistency. Work which expresses a coherent position only in broad terms and in uncritical conformity to one or more standard views of the topic A simple basic style but with significant deficiencies in expression or format that may pose obstacles for the reader Evidence of use of appropriate literature. Frequently only uses a single source to support a point. Weak use of quotation.
Fail 35 – 39% Relevance to the requirements of the assessment may be very intermittent, and may be reduced to its vaguest and least challenging terms A limited understanding of a narrow range of material Largely descriptive or narrative, with little evidence of analysis A basic argument is evident, but there is a lack of clarity and coherence Some evidence of a view starting to be formed but mainly derivative. Numerous deficiencies in expression and presentation; the writer may achieve clarity (if at all) only by using a simplistic or repetitious style Barely adequate use of literature. Over reliance on
material provided by the tutor.
The evidence provided shows that the majority of the learning outcomes and skills appropriate to that Level are satisfied.
30 – 34%
The work examined provides insufficient evidence of the knowledge, understanding and skills appropriate to the Level of the qualification. The evidence provided shows that some of the learning outcomes and skills appropriate to that Level are satisfied. The work will be weak in some of the indicators.
0-29% The work examined is unacceptable and provides little or no evidence of the knowledge, understanding and skills appropriate to the Level of the qualification. The evidence shows that few if any of the learning outcomes and skills appropriate to that Level are satisfied. The work will be weak in the majority or all of the indicators.
AF4D112A STRATEGIC BUSINESS REPORTING
ASSESSMENT Sept 2019
INDIVIDUAL REPORT: IMPACT OF IFRS 16
You are Nigel Denis, a trainee investment analyst working for French Samuel Investment Management Co (hereafter referred to as ‘FSIM’). A number of clients have recently contacted the firm. They do not fully understand the new leasing accounting standard, IFRS 16 Leases, or what the impact of it will be on companies in the sectors that they invest in. In particular, they are currently interested in the retail sector in the UK.
Your manager, Dorothy Jefferson, has asked you to write a report that will be used to brief these clients. Dorothy knows that you are studying for a Masters in Professional Accounting and so thinks that you are ideal candidate to undertake this work.
Dorothy has pointed out a number of resources that you may wish to consult as a starting point, namely:
? A CFA Institute paper, “Leases: What Investors Need to Know about the New Standard”, available at: https://www.cfainstitute.org/-/media/documents/article/position-paper/cfa-leasing-paper.ashx
? Deloitte’s IASPlus IFRS 16 resources available here: https://www.iasplus.com/en/standards/ifrs/ifrs-16
? IFRS.org resources: https://www.ifrs.org/issued-standards/list-of-standards/ifrs-16-leases/
Dorothy has noted that the CFA Institute paper compares IFRS and US GAAP. However, she has stipulated that you should ONLY use it to look at the IFRS consequences of the new leasing treatment.
You should demonstrate that you have utilised multiple literature sources from the academic, professional and technical literatures. Please note that sites such as Wikipedia and Investopedia, whilst useful as a starting point for your research, are not suitable sources for your assignment.
Dorothy has asked that your report covers a number of issues. Specifically, it should:
(a) Outline, critically, the key lessee accounting requirements contained in the new standard IFRS 16 Leases and whether/how the standard improves on IAS 17, the predecessor standard. (35%)
(b) Critically evaluate the expected impact of IFRS 16 on the key areas of financial statements of lessees, including the interpretation of those statements by investors and the markets. (35%)
(c) Critically evaluate the expected impact of IFRS 16 on the UK retail sector. You should specifically focus on the John Lewis Partnership, plus one other competitor. (20%)
The remaining 10% of the marks will be allocated for presentation, namely:
? Report style
? Spelling, punctuation and grammar
? Harvard referencing
Your work should be word processed, clearly laid out and concise. The word limit for this assignment is 4,500 words. All referencing should be in accordance with the Harvard system. A guide can be found at:
The main text shall be not less than 12pt and one-and-a-half or double line spacing should be used.
Hand-in requirements and dates:
? The file should be a pdf or Word document (2003 or later) and should use the following naming convention: Student no_AF4D112A_SBR_Sept19 (please replace the highlighted text with your own student no)
? Remember that your work should be identified by student number and not by name
? It should be submitted via Unilearn (Blackboard) for the Strategic Business Reporting module (AF4D112A) by 11.59pm on Sunday 3rd November 2019.
PLEASE NOTE THAT IF YOU ARE EVEN ONE MINUTE LATE UPLOADING YOUR FILE THIS WILL COUNT AS A LATE SUBMISSION AND THE APPROPRIATE PENALTY WILL APPLY.