ACC515 – Accounting & Finance Assignment Help

Assessment item 1

Assessment 1 Online Test
Value: 5%
Due Date: 02-Dec-2018
Return Date: 21-Dec-2018
Submission method options: Interact2 Test
Task
Assessment 1 is an online test where you must complete 20 multiple-choice questions using
the Test feature in Interact2 site by due date. The test will cover material from the first three
Topics in the subject.
Rationale
This assessment task will assess the following learning outcome/s:
• be able to demonstrate specific technical competencies and skills in utilising quantitative techniques in financial analysis.
The rationale for this assessment is to encourage interaction and engagement in this subject
from early weeks. This assignment covers work studied in Topics 1 and 2 and provides you
with an opportunity to demonstrate specific technical competencies and skills in utilising
quantitative techniques in financial analysis. This assignment will also be used to identify
disengaged students.
Marking criteria and standards
The test will be comprised of 20 qualitative / quantitative multiple choice questions, where
each question is worth 1 mark.

Assessment item 2
Assessment 2
Value: 20%
Due Date: 18-Dec-2018
Return Date: 14-Jan-2019
Submission method options: Alternative submission method
Task
Assignment 2 is worth 20% of total assessment and is marked out of 100.
Please show all workings including any formula used.
Question 1 (20 marks)
This question relates to material covered in the Topics 1 to 3. This question addresses the 5th and
6th subject learning outcomes.
For the following numerical problems, detailed answers must be shown. This involves
providing a brief description of the problems, formulae used, progressive and final answers to
the questions. For assignments you are expected to show your workings using the appropriate
formula.
a. Jayne Saxby is considering buying a new house for $500,000 and needs to borrow money
from a bank. Currently, ANZ bank offers a 30-year loan. She can choose to pay weekly at an
interest rate of 4.55% pa, or fortnightly at 4.75% pa.
(i) Which payment option should Jayne choose? (3 marks)
(ii) If Jayne wants to pay $1,000 a week, how long will it take her to pay off the loan? (3
marks)
b.Jennifer Jean is 30 years old and has just had a baby son. She and her husband want to open
a “Bump” savings account with Westpac for their baby and save up to $200,000 by the time he
is 18 years old. Westpac’s savings rate is currently at 2.5% pa. Jennifer and her husband want
to pay a monthly fixed payment at the end of each month.
(i) If Jennifer and her husband contribute 30% and 70% respectively to the savings, what is
Jennifer’s monthly payment? (4 marks).
(ii) When the son is 18 years old, Jennifer and her husband will withdraw $100,000 to pay
for his higher education. The rest of the savings will be kept in the son’s account at a deposit
rate of 4% for another 10 years. During this 10 years, the son will be allowed to withdraw
$1,000 at the beginning of each month for three years right after he turns 18. The rest of the
money will be kept in the bank account until he turns 28 and will be used as a gift for the
purchase of his own house. Calculate the value of the gift (7 marks).                                              (iii) If the son wants to buy a house for $800,000 and uses the gift as a deposit for the house,
and the loan term is 30 years with monthly repayments at a nominal rate of 4.5% per annum,
what will be his monthly repayment amount? (3 marks).
Question 2 (10 marks)
This question relates to material covered in Topics 4 and 5. This question addresses the 5th and
6th subject learning outcomes.
Kai Sayers is holding an investment portfolio including 10-years bonds, 1000 preference and
1000 ordinary shares. His bonds have a total face value of $5,000 and pay coupons on a semiannual
basis at an annual coupon rate of 8%. The market’s required yield to maturity on a
comparable-risk bond is 7%. The preference shares recently paid a dividend of $0.55 and have
a market rate of return of 11%. The company issuing ordinary shares just announced a net
profit of $120 million over its equity of $400 million, 60% of its earning is retained and the rest
is to pay dividend at $1.20 per share. The current dividend growth rate is expected to be
maintained in the next three years, but then will change to 6% per year indefinitely. The
market’s required rate of return on the ordinary shares is 20%.
(i) Use an Excel spreadsheet to draw a timeline showing the cash flows of the ordinary
shares (2 marks)
(ii) Calculate the market value of Kai’s investment portfolio (8 marks).
Question 3 (20 marks) The dividend imputation taxation system
This question relates to material covered in Topic 1 particularly the Australian taxation system
and dividend imputation credits. This question addresses the 1st, 2nd, and 3rd subject learning
outcomes.
Students are expected to conduct their own research and develop their own opinions about the
merits of this topic. There is no single correct answer and students will be marked on the depth of
their research, the quality of their arguments (for and against), and their demonstrated
understanding of the issues involved in this complex area of financial policy.
Write an essay of between 600 and 1,000 words addressing the following issues:
– Identify the major differences between the classical taxation system and the dividend
imputation taxation system.
– Use examples with calculations to demonstrate your understanding of how imputation
(or franking) credits work.
– Discuss the impacts of the dividend imputation taxation system on domestic and
international investors.                                                                                                                Question 4 (45 marks)
This question relates to material covered in Topics 1-5. This question addresses the 1st, 2nd and
3rd subject learning outcomes.
Westpac Banking Corporation (WBC.AX) and Commonwealth Bank of Australia (CBA.AX) are
amongst four big banks in Australia. These two companies are having the highest
capitalisation within the Financial Sector.
1. Find the monthly holding period returns for the 2017/18 financial year for Westpac
(WBC), Commonwealth (CBA), and the market (MKT) as proxied by the All Ordinaries
index. The monthly holding period return is the return you would receive if you bought
an asset on the first day of the month (opening price) and sold it on the last day of the
month (closing price). Using Excel, conduct a line graph with all three monthly returns
included. The line graph will allow easy comparison of the performance of WBC, CBA
and the MKT over the year with percentage (%) return results plotted on the y (vertical)
axis and time (month) on the x (horizontal) axis. (Use ‘Close’ rather than ‘Adjusted
Close’ for the selling price.) Note: Opening price MUST equal previous month
closing price (10 marks).
2. For each of the three investment options calculate the average monthly holding
period return (3 marks).
3. For each of the three investment options calculate the annual holding period return
(4.5 marks).
4. For each of the three investment options calculate the standard deviation of the
monthly rates of return (6 marks).
5. Use the scatter plot Excel graph function to plot your results from (3) and (4) above
with risk on the x axis and return on the y axis for each of three investments (3.5
marks).
6. If the 10 year government bond rate is 2.78% and the long term return on the market
as proxied by the ASX is 5.85%, assuming the beta (β) for WBC is 1.26 and for CBA is
1.23, use the Capital Asset Pricing Model (CAPM) to find the expected returns for WBC
and CBA (4 marks).
7. Construct and graph the Security Market Line (SML) (use a scatter plot and fit the SML
line) showing where WBC, CBA and the MKT should lie (5 marks).
8. Based on your findings construct a portfolio made up of 40% WBC and 60% CBA.
Calculate the estimated return and β for this portfolio (4 marks).
9. Based on your understanding of the CAPM and the SML, which of these asset(s) or
portfolio(s) would you invest in and which would you not invest in. Explain your choice
(5 marks).
Presentation – 5 marks
You are required to provide a quality presentation of the total assignment including using the
essay format for Q.3, referencing throughout and a bibliography.
Please reference any sources of information you use with APA referencing style. Please refer to
the CSU referencing site at http://student.csu.edu.au/study/referencing-at-csu                          Online submission via Turnitin is required for this assignment. Please see details under
Requirements after Marking Rubric.
Rationale
This assessment task will assess the following learning outcome/s:
• be able to evaluate and explain the congruence of accounting, finance and treasury
functions.
• be able to explain and critique the objectives of financial management in
contemporary organisations.
• be able to critically evaluate mainstream financial theory and concepts.
• be able to demonstrate appropriate communication skills in the context of corporate
finance.
• be able to demonstrate specific technical competencies and skills in utilising
quantitative techniques in financial analysis.
The requirements of this assignment cover up to and including Topic 5 of the Online Learning
materials. The assignment is designed to develop your financial analysis and problem solving
skills and develop your written communication skills. The questions require you to apply the
knowledge and tools covered in the subject topics in order to demonstrate your
understanding of the subject content. This second assignment has a heavy focus on
fundamental financial mathematics which is a critical building block to develop your capacity
to understand and resolve complex finance problems.

Requirements
High level oral and written communication skill is consistently rated the most important
attribute of finance and accounting professionals by the professional bodies. It is important
that text responses are well written and that the written work (including formulae) have a
professional level of presentation and formatting. The Academic Learning Support team can
provide guidance of a non-technical nature to assist students who are having difficulty
composing grammatically correct text responses.
In the assignment students are expected to write out the appropriate formula that they have
selected to solve specific finance problems and show all workings. In terms of presentation for
formula a guide to using Microsoft Equation will be available on the subject Interact site and it
is recommended that students adopt this tool for completing complex formulae in a
professional manner within a Word Document.
As per the CSU Referencing Policy, each assessment item must indicate the style of referencing
required for each task. Students should be directed to a single Guide that supports the
required referencing style for each assessment task. For those tasks requiring the use of APA,
students should be directed to the CSU Referencing website at http://student.csu.edu.au/
study/referencing-at-csu
This assignment must be submitted through Turnitin.
It is recommended that your name and student ID are included in the first page and the pages
should be numbered.
Further details about submission in Turnitin are provided in online submission.

Assessment item 3
Assessment 3
Value: 15%
Due Date: 20-Jan-2019
Return Date: 11-Feb-2019
Submission method options: Alternative submission method
Task
Assessment 3
This assessment is worth 15% of the total subject assessment and is marked out of 100.
Part A (50 Marks)
DecaSport is producing high technique and specialised sport shoes. The company has been
conducting research and development of a new model, where the lower mould can
automatically adjust itself to avoid foot injury. The model has been tested and the managing
board is happy to launch its production if it’s financial viable. The company already spent
$800,000 for research and development. The new model will have a five-year lifetime, after
that the company will stop its production. The new production machines will need to be
bought and are budgeted at $7.5 million but can be used for another 5 years after the
production of the new product is finished. The company depreciates fixed assets on a straight
line basis to zero.
The company expects to sell 80,000 pairs in the first year at $300 per pair. As the new
technique can be potentially followed by competitors, every year the sale quantity is expected
to decrease by 10% and the sale price will decrease by 8%. Gross profit on the product is
targeted at 60% of sales. While the new model generates a high gross profit rate, the company
expects a high level of product returns of 5% on sales. Marketing is one of the major parts of
launching this new model. The company decides that the marketing cost of $1.2 million will be
allocated annually based on annual units of sales.
As a financial manager of the company, you’re conducting a capital budgeting analysis of the
financial viability of the new model. The company shareholders expect a return on investment
of 25% pa. The company pays tax at the rate of 30% on profits.
Requirements:
a. Use an Excel spreadsheet to calculate the following criteria, and then consider whether the
new model will maximise wealth for the shareholders:
1. After-tax cash flows (7 marks).
2. Net present value (4 marks).
3. Payback period (4 marks).
4. Profitability index (3 marks).
5. Is it a viable project? Explain your answer (2 marks).

b. Although the company is optimistic about the new model, the board wants to know at what
level launching the new model becomes risky. Use an Excel spreadsheet and recalculate aftertax
cash flows and net present value for the below scenarios:
(i) Sales units at 10% higher than estimated in the first year (6 marks).
(ii) Sales units at 10% lower than estimated in the first year (6 marks).
(iii) Comments on your findings (4 marks).
(iv) You are required to use after-tax cash flows. Explain why this requirement is appropriate
in decision making (4 marks).
c. Regarding buying new production machines at $7.5m to produce the new product, you can
pay all at once when the purchasing contract is signed and receive a 5% discount. You can also
choose to pay monthly or quarterly. If you pay monthly, you will pay at the end of each month.
The monthly payment is $260,000 in the first year and $410,000 in the second year. If you pay
quarterly, you will pay at the end of the quarter and the quarterly payment is $670,000 in 3
years. Using a risk adjusted rate of 8% and an Excel spreadsheet, provide a fully worked
analysis. Decide and explain which payment option should be undertaken (10 marks).
Part B (45 Marks) Report
Guidelines:
For this assignment, you are encouraged to use the information provided on the firm’s
corporate websites together with the following sources:
• OneSource: Global Business Browser (available through Library Databases:
http://library.csu.edu.au/services/find-books-and-other-resources/databases/subject/
business)
• Australian Stock Exchange http://www.asx.com.au/
• Yahoo Finance https://au.finance.yahoo.com/
• Reuters http://www.reuters.com/finance/markets
News sources such as those secured through the Library’s ANZ Newsstream and Factiva
databases are also likely to be relevant (http://library.csu.edu.au/services/find-books-andother-
resources/databases).
Show all your calculation on the annexure.
Your report should include:
• A brief executive summary.
• Introduction.
• Body (use appropriate headings and sub-headings as relevant sign-posts).
• Conclusion.

Required:
Australia and New Zealand Banking Group Limited (ANZ) is one of the big four banks in
Australia, providing various banking and financial products and services to individual and
business customers and playing a substantial role in the financial sector (Yahoo Finance, n.d.).
However, together with other big banks within the sector, ANZ has been under the scrutiny of
the banking royal commission.
As part of the finance team of ANZ Limited you have been tasked with reviewing and preparing
a report on the capital structure of the firm to critique whether the firm has been successful in
maximising wealth generation for shareholders.
Your report should be approximately 1000 words (in total) and cover the following areas:
1. Using data from the firm’s 2017 financial year annual report and other sources assume that
the firm has a Beta of 1.37 (Yahoo Finance) and that capital return on the market for 2017 was
8.2%:
a. Categorise the ANZ’s current capital structure into debt and equity using its 2017 balance
sheet. (6 marks)
b. Calculate the firm’s after-tax Weighted Average Cost of Capital (include any assumptions
you have made in developing this metric). (4 marks)
c. Using the CAPM calculate whether the firm is providing an appropriate return given its
risk. (4 marks)
d. Compare the firm’s capital structure with at least one other firm operating within a
similar industry (6 marks).
2. Use five (5) key financial ratios to evaluate ANZ Limited’s performance. For each ratio used,
you have to justify why these ratios are relevant to your evaluation (10 marks).
3. Outline and discuss any significant changes that have occurred to the firm’s capital
structure during the past three years. What can we learn from these changes? (5 marks).
4. In the 2017 Annual Report, on page 10, ANZ’s Directors highlighted that they care about
integrity and accountability. On page 35, they described the reputation risk facing by the
business and how the business manages this risk. Given the impact on the share price of ANZ
following the scandals identified by the banking royal commission during 2018, discuss
whether you believe ANZ’s 2017 annual report adequately or properly represents the
reputation risk that ANZ is facing and whether the firm has been acting with integrity and
accountability. In your response critically identify some of the key findings from the royal
commission and evaluate the extent to which the firm has been successful in managing its
reputation risk (approx. 450-600 words) (10 marks).
Presentation – 5 marks
You are required to provide a quality presentation of the total assignment including using the
correct report format for Part B, referencing throughout and a bibliography.                                         Please reference any sources of information you use with APA referencing style. Please refer to
the CSU referencing site at http://student.csu.edu.au/study/referencing-at-csu
Online submission via Turnitin is required for this assignment. Please see details under
Requirements after Marking Rubric.
Rationale
This assessment task will assess the following learning outcome/s:
• be able to evaluate and explain the congruence of accounting, finance and treasury
functions.
• be able to explain and critique the objectives of financial management in
contemporary organisations.
• be able to discuss and evaluate ethical considerations in financial dealings.
• be able to demonstrate appropriate communication skills in the context of corporate
finance.
• be able to demonstrate specific technical competencies and skills in utilising
quantitative techniques in financial analysis.
This assessment task covers Topics 6 through 10. This will provide an opportunity to apply the
concepts in an authentic scenario that you may encounter in the workplace.

Requirements
As per the CSU Referencing Policy, each assessment item must indicate the style of referencing
required for each task. Students should be directed to a single Guide that supports the
required referencing style for each assessment task. For those tasks requiring the use of APA,
students should be directed to the CSU Referencing website at http://student.csu.edu.au/
study/referencing-at-csu
This assignment must be submitted through Turnitin.
It is recommended that your name and student ID are included in the first page and the pages
should be numbered.
Further details about submission in Turnitin are provided in online submission.

Assessment item 4
Final Exam
Value: 60%
Due Date: Variable Date
Return Date:
Submission method options: N/A – submission not required/applicable
Task
Final Exam
Rationale
This assessment task will assess the following learning outcome/s:
• be able to evaluate and explain the congruence of accounting, finance and treasury
functions.
• be able to explain and critique the objectives of financial management in
contemporary organisations.
• be able to critically evaluate mainstream financial theory and concepts.
• be able to discuss and evaluate ethical considerations in financial dealings.
• be able to demonstrate appropriate communication skills in the context of corporate
finance.
• be able to demonstrate specific technical competencies and skills in utilising
quantitative techniques in financial analysis.
The final examination will cover all the topics in this subject using a mixture of multiple choice
questions, short question answers and quantitative problems which has been designed to
ensure all the learning outcome are covered.                                                                                        Requirements
This assessment is designed to assess all topics in this subject . The exam consists of one three
hours paper with ten minutes reading time.
This exam paper has two parts. Part A comprises 40 multiple choice questions worth 1 mark
each. Part B comprises 5 questions worth a total of 60 marks. All questions in Part A and B are
compulsory and should be attempted.
This is a closed book exam.
Click here for Sample Exam (https://doms.csu.edu.au/csu/items/
4491e4c8-02fe-4b86-94c7-e493417a7be1/1/)
Assessment Information
Academic integrity
Academic integrity means acting with honesty, fairness and responsibility, and involves
observing and maintaining ethical standards in all aspects of academic work. This subject
assumes that you understand what constitutes plagiarism, cheating and collusion. If you are a
new student we expect you to complete the modules called Academic Integrity at CSU.
(https://interact2.csu.edu.au/webapps/blackboard/execute/
courseMain?course_id=_16412_1&task=true&src=)
CSU treats plagiarism seriously. We may use Turnitin to check your submitted work for
plagiarism. You can use Turnitin to check for plagiarism (http://student.csu.edu.au/library/
integrity/referencing-at-csu/checking) in your assessments before submission.
Referencing
Referencing is an important component of academic work. All assessment tasks should be
appropriately referenced. The specific details of the referencing requirements are included in
each assessment task description. Get referencing style guides and help
(http://student.csu.edu.au/library/integrity/referencing-at-csu) to use for your assessments.
How to submit your assessment items
Online submission process
Assessment 1 must be completed within your subject site in Interact2.
Assessment 2 and 3 must be must be submitted electronically through Turnitin.
Unless advised otherwise, all Turnitin submissions are due by midnight (AEST) of the date
specified. Please note that the time and the date of your Turnitin submission will be used to
determine your official submission time.
You will be added to Turnitin by end of week 2. If you need assistance on Turnitin, there is an
instruction sheet available at reception area.                                                                                         All textual elements within an assessment must be submitted in a format that is readable by
Turnitin. Specific exceptions, where an assessment requires the insertion of image based
evidence of workings will be outlined in the context of the assessment. Students that
deliberately attempt to insert content of assessments in a format that is not readable by
Turnitin may be subject to Academic misconduct investigations.
Additional Submission Information:
You are also required to rename your assignment file before you submit via Turnitin as per
below protocol:
SUBJECT CODE, SI, SURNAME, STUDENT ID, ASSESSMENT NUMBER, SESSION.
Example – ACC515 SI PATEL 11554466 A3 201860.doc
Assignments without the required identifying information, will not be marked or will face
major delay in marking.
Postal submission process
Under normal circumstances postal submissions will not be accepted for any of the
assessments required.
Hand delivered submission process
Under normal circumstances hand delivered submissions will not be accepted for any of the
assessments required.
Alternative submission process
please see above online submission process
Extensions
In order to ensure that other students who hand their assignments in on time are not
disadvantaged, and to enable me to comply with the requirement to return assignments to the
class within 15 working days, the following rules about extensions will be strictly enforced:
1. Extensions cannot be granted for on-line tests, as these have to be done within a
specific time frame, after which the answers are released to the class automatically.
2. Computer problems (such as the speed of your computer and the Turnitin issues) and
normal work-related pressures and family commitments do not constitute sufficient
reasons for the granting of extensions.
3. If it becomes obvious that you are not going to be able to submit an assignment on
time because of an unavoidable problem, you must submit your request for an
extension to your Subject Lecturer in writing (email is acceptable) prior to the due
date.
Requests for extensions will not be granted on or after the due date so you must make
sure that any extension is requested prior to the day on which the assignment is due.
You are expected to do all you can to meet assignment deadlines. Work and familyrelated
pressures do not normally constitute sufficient reasons for the granting of
extensions or incomplete grades.                                                                                                         4. If you apply for an extension, you may be asked to email your lecturer on what you
have done so far on the assignment.
5. You must be able to provide documentary evidence (such as a certificate from a
doctor or counsellor) justifying the need for an extension as soon as practicable – but
please note that if the circumstances giving rise to the request for an extension arise
on a day when you cannot get documentary evidence, you must still apply for the
extension before the due date and submit the documentary evidence afterwards.
6. Given the tight deadlines involved in returning assignments to students and putting
feedback on Interact, the maximum extension granted generally will be seven (7)
days from the due date.
7. Assignments received more than 10 days after the due date or extension date will not
be marked unless the staff member decides otherwise. Items received late will be
penalised at 10% of the mark available for the assessment item per day it is late (see
below).
8. Note that for purposes of measuring lateness, the ‘day’ begins just after 00.00 hrs AEST
– so an assignment received after midnight of the due date will be penalised 10% for
lateness. This rule will be applied to all students uniformly.


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