SUNWAY BUSINESS SCHOOL

BACHELOR OF SCIENCE (HONS) IN ACCOUNTING AND FINANCE AND

BACHELOR OF SCIENCE (HONS) IN FINANCIAL ANALYSIS

ACADEMIC SESSION : SEPTEMBER 2024 TO JANUARY 2025

SUBJECT : ACC2014 FINANCIAL ACCOUNTING

ASSIGNMENT : APPROVED ACCOUNTING STANDARDS AND

CONCEPTUAL FRAMEWORK FOR FINANCIAL
REPORTING AND NON-FINANCIAL REPORTING

DEADLINE : 26 OCTOBER 2024 (SATURDAY) (WEEK 6) by 5.00 pm

INSTRUCTIONS TO CANDIDATES

1. There are EIGHT (8) pages in this assignment brief, including the cover page.

2. This Group Assignment comprises TWO (2) questions. Students are required to
answer both questions. This group assignment will contribute 30% to your final
grade.

3. This Group Assignment is to be undertaken in a group of not more than FIVE (5)
students. Marks will be allocated for content, presentation, and referencing.
Maximum total word count should be three thousand 3,000 words excluding
references and appendices. You are allowed for a 10% deviation in word
counts. Penalties shall be imposed on reports with word count in excess of
3,300/ less than 2,700 words as follows; 1 mark shall be deducted from the final
mark for every 10% or part thereof in excess of 3,300/ less than 2,700 words.

Overview

The Group Assignment is developed as an integral part of the course to enable

students to apply applicable accounting standards in resolving accounting and
financial reporting problems.

The Group Assignment requires students to form groups of not more than FIVE (5)
students. Each group shall be evaluated based on their ability to articulate arguments
in support of their opinions and the preparation of a comprehensive written report.

ACC2014 FINANCIAL ACCOUNTING 1

 ACC2014 Assignment April 2024

Group Assignment Written Report Format

Format : Typewritten on MS Word document

Spacing : 2.0

Font type : Times New Roman

Font size : 12

References : APA Referencing Format

Turnitin : The acceptable similarity index is 20%. Matching with Sunway

Education Group student paper should not exceed 5%. A copy
of the Turnitin Originality Report and Turnitin Cover Sheet should
be attached to your written report. Your work will not be marked
if both Turnitin documents are not submitted with your written
report. Details of the submission of your report into Turnitin as
below.
Class Name: ACC2014_ASSIGNMENT_0924
Class ID: 45242620
Enrollment Key: ACC2014_0924

***only one representative of the group to register and submit the

report to Turnitin.
*** Files are to be submitted in MSWord format only. Do not convert
the file into pdf.

Layout : Assignment cover page

Assignment marking rubric (*Fill up your names, ID & team
number)
Group assignment written report
Summary of Turnitin Originality Report and Turnitin Cover Sheet
*** Tables, figures, table of contents, calculations and references
are not required to be included in Turnitin
References
All the documents should be submitted through email. Please type
the student’s name and student’s ID of all group members as well
as the team number on all documents.

Word count 3,000 words (excluding references and appendices)

Penalties will be imposed on report with word count less than
2,700 or exceeding 3,300 words
Please state your word count at the end of each session of the
assignment.

Submission : Online through email.

Files are to be submitted in MSWord format.

ACC2014 Financial Accounting 2

 ACC2014 Assignment April 2024

IMPORTANT
a) Extensions and Late Submissions

The deadline for submission of the Group Assignment is to be strictly adhered to. No extension of
time will be allowed except in extenuating circumstances, e.g. medical or compassionate reasons.
Students who wish to apply for an extension of time for the submission of assessment item(s) after
the due date shall put in writing as soon as possible the request, together with validated documentary
evidence to support the application.

If the Group Assignment is submitted after its due date (and without approval for extension), the
following penalty will be imposed:
Group Assignment submitted after the deadline but within one week will be accepted for a
maximum mark of 40% of the original marks allocated;

Group Assignment submitted more than one week after the deadline will be regarded as a non-
submission and shall be marked at zero (i.e. all marks allocated for the Group Assignment shall
be lost).

b) Word Count Requirement

The word count for this Group Assignment is 3,000 words. You are allowed a deviation of not
more than 10%. Penalty shall be imposed on reports with word count in excess of 3,300
words: 1 mark shall be deducted from the final mark for every 10% or part thereof in
excess of 3,300 words/ less than 2,700 words.

As an illustration, assume that a group submits a written report of 3,468 words and this group’s
work obtained a score of 65 out of 100 marks. The work count exceeded limit by 168 words.
Therefore 1 mark shall be deducted from the converted final score. The final mark for the
Group Assignment shall be 18.50 out of 30 marks. Had this group submitted a report with a
word count within the 3,300 limits, the final score would have been 19.50 out of 30 marks. If
the word count is 3,850 words, 2 marks shall be deducted, as the excess is more than 10% of
the limit.

ACC2014 Financial Accounting 3

 ACC2014 Assignment April 2024

Referencing

The APA referencing style is to be used in this assignment. Refer to the below URL
for the Harvard referencing guide:

https://library.sunway.edu.my/APA7th9

Marks will be awarded for breadth and quality of references from both academic and
practitioner literatures used to support all arguments. Reliance on unauthorised and
unconfirmed internet sites and sources (e.g., ChatGPT, blogs, forums, tweets,
personal Facebook page and etc) for references may render unsatisfactory score for
citation.

Academic Malpractice

Plagiarism, whether inadvertent or deliberate, shall include the following:

Word-for-word copying of sentences or whole paragraphs from one or more

sources, or presenting substantial extracts from books, articles, thesis, other
unpublished work such as working papers, seminar and conference papers,
internal reports, computer software, lecture notes or tapes, without clearly
indicating their origin.
Using very close paraphrasing of sentences of whole paragraphs without due
acknowledgement in the form of reference to the original.
Submitting another student’s work in whole or in part.
Use of other person’s ideas, work or research data without acknowledgement.

Collusion, whether inadvertent or deliberate, shall include the following:

Submitting an “individual assignment” that was jointly prepared by the candidate

and any other third party, e.g. other students, family, professionals, or
tutors/lecturers.
Submitting a “group assignment” that was jointly prepared by the group and any
external party, e.g. family, students from other subjects, or professionals.
Copying each other’s work and passing it off as an individual effort.

Please refer to Student Handbook for Diploma and Undergraduate programmes or

Blackboard e-Learn for details about academic malpractice penalties.

ACC2014 Financial Accounting 4

 ACC2014 Assignment April 2024

Group Assignment Question (30%)

The Conceptual Framework for Financial Reporting, Conceptual Framework for
Non-Financial Reporting and Malaysian Financial Reporting Standards
The International Accounting Standards Board (IASB) issued the Conceptual
Framework for Financial Reporting in September 2010, revising it in March 2018. This
framework outlines the primary aim of general-purpose financial reporting: to provide
users of financial statements with pertinent information for decision-making.
The International Sustainability Standards Board (ISSB) was established in 2021 to
provide global sustainability-related disclosure standards for investors and capital
market participants. In June 2023, the ISSB released its inaugural IFRS Sustainability
Disclosure Standards (ISSB Standards) - IFRS S1 and IFRS S2 (IFRS S1 & S2). These
standards mandate companies to disclose sustainability risks and opportunities,
particularly climate-related aspects, drawing upon the recommendations of the Task
Force on Climate-related Financial Disclosures (TCFD).
Bursa Malaysia has enforced sustainability disclosures for listed entities since 2016.
Malaysian PLCs have been obligated to disclose sustainability information, covering
aspects such as sustainability governance, statement scope, materiality, and
management of sustainability matters. The sustainability disclosure requirements were
enhanced in September 2022 to align with global reporting expectations, including
TCFD recommendations. However, Malaysian regulators have not yet determined the
adoption timeline for IFRS S1 & S2.
The board of directors (Board) plays a crucial role in implementing IFRS S1 & S2,
overseeing broader sustainability-related matters while management executes
operational decisions concerning specific sustainability-related risks and opportunities.
It is imperative for the Board to ensure effective oversight by maintaining a composition
that ensures sufficient diversity to prevent 'groupthink' or 'blind spots' in decision-
making.
Required:
(1) Extract TWO (2) pieces of financial information and TWO (2) pieces of
sustainability governance information related to gender diversity in the board
composition from the annual reports, sustainability reports, or integrated annual
reports of any THREE (3) of the Malaysian PLCs. Prepare a 1,000-word
discussion on whether the sustainability governance information related to gender
diversity in the board composition disclosed by the selected Malaysian PLCs
adheres to the requirements of Bursa Malaysia Securities Bhd, Securities
Commission Malaysia and International Sustainability Standards Board.
Your answer should reference the relevant annual reports/sustainability
reports/integrated annual reports, the Malaysian Code on Corporate Governance,
the Bursa Malaysia Sustainability Reporting Guide, and IFRS Sustainability
Disclosure Standards.
(2) Extract information related to property, plant, and equipment from ONE (1) of the
three Malaysian PLCs identified in section (1). Prepare a 2,000-word write-up
explaining the following:

ACC2014 Financial Accounting 5

 ACC2014 Assignment April 2024

(a) Definition, recognition criteria and measurement requirement to account for

property, plant, and equipment in accordance with the Conceptual Framework
for Financial Reporting and the relevant accounting standards.
(c) The movement of the property, plant, and equipment of the company in 2022.
(d) Prepare journals to record the following:
(i) Purchase/ disposal of property, plant, and equipment in 2022.
(ii) Depreciation charge on property, plant, and equipment in 2022.
(e) The measurement of the property, plant, and equipment in accordance with
the accounting policies of the company.
Your answer should reference the 2022 annual reports/integrated annual reports,
the relevant Malaysian Financial Reporting Standards, Conceptual Framework for
Financial Reporting, as well as relevant academic and professional literature.
Marking Criteria
The group assignment report is marked out of 100 marks and then converted to the
final mark of 30%. All members will get the same mark for the group assignment written
report.
There is no one correct answer required. Students need to show a depth of
understanding of the relevant issues, the ability to synthesis information from diverse
and credible sources to formulate sustained arguments towards arriving at an
appropriate conclusion related to the topic of interest. Therefore, extensive research
beyond lecture notes and prescribed textbooks are expected. The report should
provide evidence of the criticality expected of a second-year undergraduate student.
English expression, sentence construction, referencing, grammar and spelling are also
indicators of the quality of the written report. The coherence and logical flow of ideas
and arguments are also assessed. The format and presentation of the Assignment
should also be neat and professional.

ACC2014 Financial Accounting 6

 ACC2014 Assignment April 2024

The marking rubric is presented in the table below to provide further guidance on how
the report is evaluated.

Contents Mark
Allocations
Section 1
Extract TWO (2) pieces of financial information and TWO (2) pieces of (SLO 1)
sustainability governance information related to gender diversity in the
board composition from the annual reports, sustainability reports, or
integrated annual reports of any THREE (3) of the Malaysian PLCs. McG
2017, 2021
Prepare a 1,000-word discussion on whether the sustainability
2012 ,

governance information related to gender diversity in the board report

composition disclosed by the selected Malaysian PLCs adheres to the sustainability 2018
2015 ,
requirements of Bursa Malaysia Securities Bhd, Securities Commission
Malaysia and International Sustainability Standards Board. IFRS disclosure

IFRS I
Your answer should reference the relevant annual reports/sustainability IFRS L

reports/integrated annual reports, the Malaysian Code on Corporate

Governance, the Bursa Malaysia Sustainability Reporting Guide, and
T
IFRS Sustainability Disclosure Standards.
This section should include:
(a) Extract TWO (2) pieces of sustainability governance information
related to gender diversity in the board composition from the
annual reports, sustainability reports, or integrated annual reports of
any THREE (3) of the Malaysian PLCs for the years spanning 2016 to 20
2022.

(b) Prepare a 1,500-word discussion on whether the sustainability

governance information related to gender diversity in the board
composition of the Malaysian PLCs selected in section (1) adhere to
the requirements of Bursa Malaysia Securities Bhd.
This section should include:
(i) Discuss the sustainability governance information related to
- 10
Refer
gender diversity in the board composition standards set by the
Securities Commission Malaysia.
Explain a
requirement percentage
compare
with

(ii) Discuss whether the selected Malaysian PLCs are in compliance - i

a
women
board with the sustainability governance information related to gender requirement
10explain on
part
diversity in the board composition requirements. see
company comply
the requirement
Note: Students must consult with your lecturer for guidance when
completing Section 1, parts (a) and (b).

ACC2014 Financial Accounting 7

 ACC2014 Assignment April 2024

Section 2
(SLO 1)
(a) Extract information related to property, plant, and equipment from 5
ONE (1) of the three Malaysian PLCs identified in section (1).
(b) Prepare a 1,500-word write-up explaining the following:
(i) Definition, recognition criteria and measurement requirements to
account for property, plant, and equipment in accordance with
the Conceptual Framework for Financial Reporting and the 20
relevant accounting standards.
(ii) The movement of the property, plant, and equipment of the 5
company in 2022.
[Students must extract the details of property, plant, and
equipment from the financial statements of the company.
Compile this information in a document titled "Appendix 1."
Ensure that the name of the company, financial year-end, page
number, and the title of the financial statement are clearly shown
in Appendix 1. Place Appendix 1 after the references section in
your submission.]
(iii) The journals to record the following:
(1) Purchase/disposal of property, plant, and equipment in 2022.
5
(2) Depreciation charge on property, plant, and equipment in 5
2022.
Your answer should reference the 2022 annual reports/integrated annual
reports, the relevant Malaysian Financial Reporting Standards,
Conceptual Framework for Financial Reporting, as well as relevant
academic and professional literature.
Presentation:
This section includes:
(i) Format and presentation of the report. 10
(ii) Writing style.
(iii) Expression, sentence construction, grammar and spelling.
(iv) Citation
(v) Referencing

Attending APA citation and referencing workshop.

(i) Attend APA citation and referencing workshop schedule on 3 October 5
2024, 11:00 am to 12:00 pm.
(ii) Complete the formative assessment in relation to the APA citation and 5
referencing and submit it to the trainer by 3 October 2024, 9:00 pm.

ACC2014 Financial Accounting 8

 ACC2014 Financial Accounting Assignment (September 2024) - Marking Rubric

Team Number: Turnitin Similarity Score: ___________ % Total Mark: _________________ /100
Group members (Name and Student ID):
(This assignment will be marked out of 100 points and
then converted to the final mark)

Word Count: _________________ words

Total Mark: __________________ /30

(Marks Deducted: _____________ /30)

Final Mark: ______________ /30

Page 1 of 3
 Poor Average Excellent Score
Section 1: The Conceptual Framework for Marks: 0 to 7 Mark: 8-14 Mark: 15-20
Financial Reporting and Conceptual Framework  Limited knowledge of financial information  Adequate knowledge of financial information and  Profound knowledge of financial
for Non-Financial Reporting. and sustainability governance information sustainability governance information related to information and sustainability governance
Maximum 20 marks related to gender diversity in the board gender diversity in the board composition. information related to gender diversity in
(a) Extract TWO (2) pieces of financial information composition.  Adequate knowledge on the Malaysian PLCs. the board composition.
and TWO (2) pieces of sustainability governance  Limited knowledge on the Malaysian PLCs.  Information extracted is generally accurate with  Profound knowledge on the Malaysian
information related to gender diversity in the  Information extracted is mostly incorrect or minor inaccuracies or omissions - shows a basic PLCs.
board composition from the annual reports, irrelevant - numerous mistakes in understanding of the annual reports, sustainability  Information extracted is fully accurate and
sustainability reports, or integrated annual reports understanding the content of the annual reports, reports or integrated annual reports’ content. relevant - demonstrates a comprehensive
of any THREE (3) of the Malaysian PLCs for the sustainability reports or integrated annual understanding of the annual reports,
years spanning 2016 to 2022. reports. sustainability reports or integrated annual
reports’ content.

Section 1 (con’t) Marks: 0 to 7 Mark: 8-14 Mark: 15-20

Maximum 20 marks  Minimal (insufficient) or some discussion on  Adequate discussion on whether the Malaysian  Excellent discussion on whether the
(b) Prepare a 1,500-word discussion on whether the whether the Malaysian PLCs whose PLCs whose sustainability governance Malaysian PLCs whose sustainability
sustainability governance information related to sustainability governance information related information related to gender diversity in the governance information related to gender
gender diversity in the board composition of the to gender diversity in the board composition board composition comply with the Bursa diversity in the board composition comply
Malaysian PLCs selected in section (1) adhere to comply with the Bursa Malaysia Securities Malaysia Securities Bhd's and Securities Bursa with the Bursa Malaysia Securities Bhd,
the requirements of Bursa Malaysia Securities Bhd, Securities Commission Malaysia and Malaysia Securities Bhd, Securities Commission Securities Commission Malaysia and
Bhd, Securities Commission Malaysia and International Sustainability Standards Board. Malaysia and International Sustainability International Sustainability Standards
International Sustainability Standards Board.  Minimal (insufficient) or some explanation on Standards Board. Board.
This section should include: the Malaysian PLCs are complying with the  Adequate discussion on the Malaysian PLCs are  Excellent discussion on the Malaysian
sustainability governance information related complying with the sustainability governance PLCs is complying with the sustainability
(i) Discuss the sustainability governance information to gender diversity in the board composition information related to gender diversity in the governance information related to gender
related to gender diversity in the board requirements. board composition requirements. diversity in the board composition
composition standards set by the Securities requirements.
Commission Malaysia.  Minimal or some superficial research to support  Adequate research to support discussion.
discussion. Weak explanation and analysis.  Excellent research to support discussion.
(ii) Discuss whether the selected Malaysian PLCs are
in compliance with the sustainability governance
information related to gender diversity in the
board composition requirements.
Section 2: Approved Financial Reporting Marks: 0 to 13 Marks: 14 to 27 Marks: 28 to 40
Standards  Information extracted is mostly incorrect or  Information extracted is generally accurate with  Information extracted is fully accurate and
Maximum 40 marks irrelevant - numerous mistakes in minor inaccuracies or omissions - shows a basic relevant - demonstrates a comprehensive
(a) Extract information related to property, plant, and understanding the content of the annual reports, understanding of the annual reports, sustainability understanding of the annual reports,
equipment from ONE (1) of the three Malaysian sustainability reports or integrated annual reports or integrated annual reports’ content. sustainability reports or integrated annual
PLCs identified in section (1). reports.  Adequate explanation on the definition, reports’ content.
(b) Prepare a 1,500-word write-up explaining the  Minimal (insufficient) or some explanation on recognition criteria and measurement  Excellent explanation definition,
following: the property, plant and equipment in requirements to account for the property, plant recognition criteria and measurement
(i) Definition, recognition criteria and accordance with the Conceptual Framework and equipment in accordance with the Conceptual requirements to account for the property,
measurement requirements to account for and relevant accounting standards. Framework and relevant accounting standards. plant and equipment in accordance with
property, plant, and equipment in accordance  Minimal (insufficient) or some explanation on  Adequate explanation on the movement of the the Conceptual Framework and relevant
with the Conceptual Framework for the movement of the property, plant, and property, plant, and equipment of the company in accounting standards.
equipment of the company in 2022. 2022.

Page 2 of 3