Category | Assignment | Subject | Accouting |
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University | The University of Queensland | Module Title | ACCT2110 Intermediate Financial Accounting |
Assessment Type | Individual Case Study |
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The case is to be undertaken individually, and students should independently prepare their assignment.
The financial reporting case study is a comprehensive case study that examines the specific application of case scenarios involving Topic 5 Revenue recognition. The case will also be used to examine student report writing skills, general accounting knowledge, and the ability to critically evaluate complex case scenarios.
To ensure consistency of information, ALL questions relating to the case study must be submitted on the Blackboard Discussion Board Case Study Thread. Questions will be answered promptly when using this platform. We will not be answering content-related questions in relation to this assessment item in class, consultation or via email.
AASB 102:12
AASB 102 para. 12
(1) Apply the five-step model in AASB 15 to decide how and when revenue will be recognised for the contract signed on 1st July 2024. (40%)
(2) Prepare journal entries for the transactions related to the contract from 1st July 2024 to 1st January 2025, assuming MYOB recognises income and expenses at the end of each month. The financial year-end is 30 June. (20%)
(3) For companies in the software services industry, managers often need to exercise judgment when applying revenue recognition standards. Please explain two specific circumstances where this judgment is necessary, ensuring your explanations align with the relevant standards. (20%)
Students should access academic articles (at least two) to support their answers to Question (3). (Hint: Concentrate on the general results of the articles. You do not have to completely understand the statistical/econometric models.) (10%)
Grammar, spelling, and paragraph structures. (10%)
Please refer to the following marking rubric for more detailed criteria
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