ACCT5910是一门重要的会计学课程，涵盖了财务会计和管理会计的基本理论和实践技能。对于留学生来说，这门课程不仅可以提高会计学知识水平，还可以帮助更好地适应和融入国外的商业环境。

ACCT5910 Major Project—Individual Component
Detailed Instructions
Task Description

You are required to conduct in-depth strategy analysis on a company (either Xero Limited (ASX:
XRO) or IDP Education Ltd (ASX: IEL)), evaluate its key accounting policies or estimates, and
assess its profitability over the past three years. The case company is assigned through your group
registration. Please note that this component must be completed individually. You should not share
your work with anyone at this stage, including peers in your project group.
Specifically, you are required to complete the following tasks (with grading weights in the parentheses):
• Task 1: Identify the THREE most important strategic factors that determine the long-term
profitability and sustainability of the company. Provide detailed reasoning and/or evidence to
support your arguments. (40% of the assessment)
• Task 2: Read the company’s disclosures and identify ONE specific accounting policy or
estimate that is most prone to earnings management. Explain the potential incentives for the
managers to manipulate accounts through this policy or estimate. (30% of the assessment)
• Task 3: Using the profitability decomposition framework introduced in Week 4 seminar,
identify the primary source of variation in the company’s return on equity (ROE) over the past
three years. (30% of the assessment)

Submission Guidelines

• You must submit your individual report through the Turnitin link on the course Moodle page
• This assessment accounts for 10% of your total course grade.
• The maximum number of pages assessed is five (5), inclusive of all texts, tables, figures,
references, and appendices.
• A4 page setup is required. No cover page should be used.
• All texts must be formatted using Times New Roman font, size 11 and 1.5 spacing.
• The individual report is due by 3pm, Friday 10th March, 2023 (end of Week 4).
• The submitted file name should be formatted
as: “_SeminarTimeACCT3610_Individual_Project. pdf”.
Tips and Hints
Task 1

In order to identify most important strategic factors, it is useful to read the company’s recent conference
call transcripts and media articles. Search for topics that are repeatedly mentioned by the management,
analysts and journalists. Conference call transcripts may be found in Factset or the company website,
and journal articles are searchable through Factiva.
Task 2
Annual reports typically include a dedicated section summarising key accounting policies. The
footnotes to financial statements contain many details of accounting methods and estimates used to
recognize or measure specific line items.
Task 3

The profitability decomposition framework requires recasting of the income statement and balance
sheet. It is a good idea to plot different profitability components over time and observe their volatility
relative to the variation in ROE.

Marking Criteria

Relevance and specificity (30%)

Your responses must directly answer the questions and appropriate methods and information sources.
The arguments used must be specific to the case, free of generic comments.
Analytical Rigor (30%)

Predictions and explanations must be supported by hard facts, statistics, and tight logical reasoning.
All calculations and derivations are accurate and clearly documented.
Research Depth and Breadth (20%)

Your report should reflect extensive research into corporate disclosures and other sources of
information.
Exposition (20%)

The writing should be free of spelling or grammatical errors. The language should be concise and
clear. All tables and figures are professionally annotated and presented. References are appropriately
made to external data or analysis.