3101AFE: Accounting Theory and Practice - Accounting Assignment Help

Assignment Task:

DESCRIPTION OF ASSIGNMENT
Students are provided with five business-related news articles and a list of theories taught in lectures 1-5. Students must choose one of the articles and evaluate the article by selecting and applying one appropriate accounting theory covered in the course, citing at least three scholarly sources. Use of academic literature is a key aspect of the assignment.

ARTICLE 1: Defiant King slashes Myer inventory as profit slides 
The Australian; Canberra, A.C.T. [Canberra, A.C.T]06 Mar 2020: 23.] Eli Greenblat Myer chief executive John King will use the disruptions to global fashion and apparel supply chains sparked by the coronavirus to strip the department store of its bloated inventory and bolster cash flow, as he pushes ahead with the painful restructure of the retailer that has seen another slump in profits. Warning that clothing shipments for Myer’s portfolio of private label fashion could be delayed by as much as six weeks, with shipping container traffic in March likely to run at 40 per cent of normal capacity, Mr King said it provided an opportunity to improve Myer’s fashion offer. This was particularly the case for his womenswear category, the beating heart and profit driver of any department store, which underperformed 
in the first half. That underperformance, along with almost $22m in impairment and restructuring charges, saw Myer’s interim profit dive by one-third. Its shares slid on the news, closing down 4.4 per cent, or 1.5c, at 33c each — just above all-time lows. But despite another disappointing profit result, another year of no dividends to shareholders and the worst  trading conditions in decades, Mr King was upbeat about the improvements that could be made and the underlying profitability of the retail chain. “I think the line I would point everybody to, in terms of looking at the health of this business, is the EBIT (earnings before interest and tax) and the EBITDA (earnings before interest, tax, depreciation and amortisation) lines. And our EBIT is up 1.2 per cent with a number of retailers talking about earnings down 
50 per cent, or more than that, so that is the underlying strength of our business,’’ Mr King told The Australian. 

ARTICLE 2: Jetsetting BHP counts the cost of carbon 

BHP has outlined the magnitude of the task it faces in making good on chief executive Andrew Mackenzie's promise to set goals for the reduction of carbon emissions by its customers, with new figures in BHP's annual report showing how much its customers emissions outweigh its own. The company's new disclosures, which break down emissions from each of its core operations for the first time, run from the large to the small. Flying management and employees around BHP's far-flung mining operations, between its Melbourne and  London headquarters, and divisional centres, put about 100,000 tonnes of carbon dioxide into the atmosphere last financial year - the equivalent of about 21,700 average passenger vehicles each year. That is a touch more than the emissions generated by the hundreds of flights that ferried thousands of BHP's FIFO workers to the company's Pilbara iron ore mines. But, while BHP's own carbon intensity is flat, or falling slightly, the company faces a herculean task to help its own customers cut their carbon footprint, with the new figures showing how much its own emissions are dwarfed by those of customers that buy its minerals. 

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