ACCG350 Group and Individual Report Tassal Group (TGR)代写

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ACCG350 Group and Individual Report Tassal Group (TGR

List of Companies for the Group and Individual Reports

Name (ASX Code)

A2 Milk (A2M)

Adairs Ltd. (ADH)

MYOB (MYO)

Tassal Group (TGR)

ACCG350 Group and Individual Report Tassal Group (TGR)代写

ACCG350 Group and Individual Report Instruction, S2 2017

Due date: Group Report is due at 11pm on 17 Oct. and Individual Report is due at 11pm on

31 Oct.

Submission: Submit the softcopy of Group and Individual Reports to Turnitin on iLearn.

Group Report

This is a group assignment of three or four students. You are required to evaluate and report on

the most recent (FY2016 or FY2017 if available) Annual Report of an Australian company listed

on ASX (The list of companies is provided below and to be assigned by your tutor), as if you

were security analysts making a recommendation on whether your clients should invest in it.

The report is to be written from the point of view of a sell-side analyst and should be directed at

sophisticated investors, educated in accounting and finance. It is to include the following sections:

1. Introduction, including a clear statement of objectives and an outline of the structure of the

report.

2. Business Strategy Analysis, including:

• Discussion of the environment: which and how economic and other relevant factors

impact on the company’s operational environment.

• Discussion of competitive forces within an industry using the five forces framework.

• Conclusion of the prospects of industry profitability and growth based on the above

analyses.

• Discussion of the company’s competitive and corporate strategy.

• Evaluation of the company’s strategy using SWOT analysis. Conclusion of the

company’s prospects for profitability and growth.

3. Accounting Analysis, need to:

• Identify the company’s ONE key accounting policy.

• Discuss how this accounting policy relates to the company’s operational and strategic

factors. In other words, why it is considered as “key” based on your knowledge of the

company.

• Identify areas that require the use of management judgement, and provide explanations.

Conclude the level of accounting flexibility.

• Compare this accounting policy with a competitor’s, discuss the difference and what

factors may cause the difference, and evaluate the quality of disclosure for both

companies.

4. Financial Analysis, including the following:

• Presentation and interpretation of relevant ratios for the company and a competitor over

the past three years, including analysis of the underlying drivers of the change in the

company’s ROE.

• Discussion of the company’s operating, asset, and financial management, and explain

plausible reasons for the trend of the company performance relating to economic,

industry, operational or strategic factors. (Some factors should have been discussed in

the Strategy Analysis.)

• Evaluation of the company’s cash flow position. Comments on cash flows from investing

and financing activities: How did the company pursue its growth opportunities? How did

the company fund its investment? How did the company utilize the cash flows for equity

holders?

Conclusion Section is optional for the group report as the individual report requires a brief

summary of findings from each section of the group and individual reports (See the requirement

for an individual report on page 3).

The group report should be word-processed and professionally presented. It is to be

approximately 15 – 20 single or 1.5 lines spacing pages in length, excluding references and

appendices.

All assumptions should be clearly stated and supported if possible. Both in-text references and

bibliography should be provided. Commercial data services may be used to source Annual

Report and other information. Any commercial data sources used should be acknowledged and

referenced in the written report. Note that plagiarism from professional analysts’ reports can be

easily identified and will result in a mark of zero for the report.

Late submissions will have 10% of the group report mark deducted per day.

If in any group, there are complaints that a group member has not contributed approximately

equally then the complaint will need to be reported in writing to the Unit Convenor. Following

such a report the Unit Convenor will discuss the issue with the group and the Unit Convenor

may re-allocate marks appropriately.

Students should consult with the Unit Convenor if further clarification is needed.

List of Companies for the Group and Individual Reports

Name (ASX Code)

A2 Milk (A2M)

Adairs Ltd. (ADH)

MYOB (MYO)

Tassal Group (TGR)

Individual Report

This report is completed by an individual student based on the information gathered from the

group report which the student participates. It is to include the following sections:

5. Prospective Analysis, including:

Forecasts:

• Forecasts of key elements of income statements and balance sheets for the company

for the next THREE financial years.

• Presentation of these ‘condensed’ income statements and balance sheets (key

elements only).

• Discussion of forecast assumptions, drawing on the insights from the Strategy,

Accounting, and Financial Analyses.

Valuations:

• Valuation of the company using two different methods. The discounted cash flow

model must be used together with an alternative valuation model at your choice.

• Discussion of estimation of valuation parameters.

• Presentation of sensitivity analysis for different economic scenarios.

• Calculation of estimated value per share.

6. Recommendation for the clients, drawing on the whole analysis of the company included

in the group and individual reports, and including:

• A summary of findings from Strategy, Accounting, Financial and Prospective

Analyses of the group and individual reports,

• A comparison of the estimated value per share with the market value, and a

recommendation based on this.

The individual report should be word-processed and professionally presented. It is to be

approximately 5 – 10 single or 1.5 lines spacing pages in length, excluding references and

appendices.

All assumptions should be clearly stated and supported if possible. Both in-text references and

bibliography should be provided. Commercial data services may be used to source Annual

Report and other information. Any commercial data sources used should be acknowledged and

referenced in the written report. Note that plagiarism from professional analysts’ reports can be