3101AFE - Accounting Theory and Practice - Accounting & Finance Assignment Help

Assignment Task

Summary:

National Australia Bank will stop providing lending to all new thermal coal mining projects but NAB will still continue to provide funds to already published projects. The implementation of this new policy made NAB become the first major bank to eliminate thermal coal mining support. Some other banks like ING, ANZ and Westpac following the steps as NAB to limit supply to new coal mining projects. Moreover, Australia financial regulators will take ‘regulatory actions’ to banks, lenders and insurance companies if they would not take any action to reduce the risks associated with climate change.

REQUIREMENTS:
Select any TWO of the six business-related news articles provided and evaluate each article in the context of an appropriate accounting theory, citing at least three scholarly sources in relation to each article analysis. Therefore, a total of six scholarly sources should be cited. Use of academic literature is a key aspect of the assignment. Students are to apply a different theory to each article, so for example, if you select legitimacy theory for one article you cannot use legitimacy theory for the second chosen article. The aim is to identify the most appropriate accounting theory (from those studied in this course) to explain the behaviours and/or decisions of relevant parties indicated within each article.

Article 1 - Rio Tinto told to lift ‘Australian profile’ in board shake-up Sydney Morning Herald, March 4, 2021

The resignations of Rio Tinto’s chairman and a long-serving director have renewed shareholder demands for greater Australian representation on the board of the world’s second biggest miner amid efforts to rebuild local ties after destroying Aboriginal rock shelters last year. Following months of pressure from Australian investors and key Indigenous leaders, Rio chairman Simon Thompson declared he would not seek re-election in 2022 and a search would begin for his replacement. Another director, Michael L’Estrange, also announced he would stand down after this year’s annual general meeting. The departures and prospect of board renewal were welcomed by large Australian superannuation investors that led last year’s push for accountability over the mining giant’s blasting of the 46,000- year-old Juukan Gorge rock shelters. Their demands eventually led to the resignations of Rio chief executive Jean-Sebastien Jacques.

Article 2 - Under Armour warns sales will decline as much as 25% in second half of 2020

Under Armour’s second-quarter results were better than the retailer was expecting thanks to an e- commerce boost, but the company warned pressures from the coronavirus pandemic will continue to squeeze its results in the second half of the year. The company’s stock initially soared over 13% in premarket trading when the earnings results were first released. But those gains were largely wiped out after Under Armour said depleted inventories could hurt sales, even into the holiday season. The shares were down more than 7% after the market opened.
The sneaker and athletic apparel maker said it was “encouraged” by the momentum it has seen in June and July, as its stores are reopening after temporarily being shut. During an earnings call however, it said revenue could fall anywhere between 20% and 25% in the back half of 2020. Within this window, it expects an even larger decline in the fourth quarter, which includes the all-important holidays.

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