ACC00713 - Finance - Company and Financial Reporting - Report Writing Assignment Help

ACC00713: Company and Financial Reporting Report Writing Assignment Help

Assignment Task:

Instructions for the report

This task requires you to prepare a report to evaluate and comment on recognition and measurement regarding carbon credits or carbon liabilities of an entity. You need to choose a company listed on the Australian Stock Exchange (ASX) and provide your evaluation regarding the relevant presentation of carbon-related issues. Your comments or evaluation can refer to paragraphs of relevant Australian Accounting Standards (AASBs). In the last decade, there is a trend for governments, organisations, and businesses to be committed to ecosystem restoration, renewable projects, and responsible business practices, aiming to reduce carbon emissions and reduce global warming. Businesses have also become more aware of the benefits of reducing carbon emission activities.

West Gippsland farmer and inventor, Niels and Marja Olsen became the first to receive soil carbon credits under the Australian Emissions Reduction Fund. Mr Olsen's project was approved through the Australian Government's Emissions Reduction Fund (ERF). The project uses Mr Olsen's invention, the Soilkee Renovator, that ‘combines cultivation, mulching, aeration and mixed-species seeding to improve soil's fertility and carbon levels’. In August 2019, Niels and Marja Olsen achieved a world first by earning income for capturing carbon from the atmosphere and storing it in the soil on their property.

This creates a genuine opportunity for livestock producers to improve the health of land and earn additional income for the reduction of carbon emissions and this places them in an advantageous position in the future carbon market.

Part A

1) Discuss whether carbon credits and carbon liabilities should be presented in the annual report of an entity? 

2) According to your opinion, explain the recognition and measurement of carbon credits by an entity. 

3) According to your opinion, explain the recognition and measurement of carbon by an entity.

Part B 

4) Provide an example of a carbon-related issue that is reported in the annual report of your chosen company, and provide comments on whether disclosures are sufficient or appropriate. 

5) From the perspective of the investors, evaluate the impact of such disclosures on assets, liabilities and financial performance of the chosen company.

Assessment criteria:
The quality of the report will be assessed based on the following four areas:

1) Demonstrate and identify the accounting concepts applied.

2) Refer to paragraphs from related Australian Accounting Standard as guidelines to support your discussion.

3) Provide an example from the annual report to illustrate the implementation of an accounting concept(s) or principal(s) discussed.

4) Demonstrate effective communication, referencing, logical presentation and integrated evaluation.

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