Accounting

The Assessment Task
The case study consists of two sections- Section A consists of 55 marks and Section B consist of 30
marks. A total of 15 Marks will be awarded for presentation, detailed citation, referencing and good
use of English in the assignment. Students are expected to read the case study thoroughly and to
answer all the questions in a structured and organised manner with reference to published work.
This is an individual assignment and it is worth 60% of the total module mark.
SECTION A
Question 1
Scenario:
You hold the position of manager in your company. As a manager you have sound industry
knowledge and commercial awareness. As part of your career development you have requested to
be involved in a financial project to expand your managerial skills. You have volunteered to
analyse the financial performance of the three companies identified in this case study over a period
of 3 financial years (basic financial data is included with this case study in an Excel file). The
companies have listings on the London Stock Exchange. You are required to undertake
independent research to review current annual company reports, market reports and academic
literature to support your findings in your report.
Background:
“The gambling industry is growing in the United Kingdom (UK). The gross gambling yield (GGY) in
Great Britain increased from roughly 8.4 billion British pounds in 2011 to approximately 14.4 billion
British pounds in 2018. Since legislation for remote gambling changed in 2014, the considered
GGY for remote gambling accounts for the largest share of the market. The gambling industry
provides jobs for some 100 thousand employees in the UK in 2018, of which the majority works in
the betting sector, followed by casino and bingo, however, over half of gambling enterprises were
run by less than 10 people.” (Lange, 2019).
The sector is highly competitive, and to ensure the financial sustainability of the company it is vital
for management to review actual performance to goals and success indictors set in the strategic
plan.
Lange, D. (2019) Gambling industry in the United Kingdom (UK) – Statistics & Facts. Statista [online]. Available from:
https://www.statista.com/topics/3400/gambling-industry-in-the-united-kingdom-uk/ [ Accessed 6 August 2019].
3
You are required to:
1a. Using the company websites, specifically the Investor’s area, and the annual “Chief
Executive’s Strategic Review” identify the Strategic Plans for each company including the
main financial goals and measurable success indicators in relation to financial growth,
financial sustainability and financial performance. Having identified the key goals, explain the
nature of the decisions ie long term or short term, and justify how these decisions will achieve
the financial goals eg new investments, new products / services, increasing market share,
restructuring etc. Clearly demonstrate how these decisions have impacted on the financial
performance of the companies (use of evidence from ratio analysis will be required to support
content). (15 marks)
1b. Critically evaluate the performance of the three companies using the latest three years
financial and non-financial data to reach a conclusion to clearly identify the ranking of
performance ie 1st, 2nd and 3rd. To reach a conclusion on the performance of the companies
you are required to select and analyse 10 appropriate financial ratios, ensuring the you cover
all the categories of ratio, and 2 non-financial ratios to look in depth at each ratio result /
finding, use supporting arguments and evidence for and against as well as how these findings
interrelate to one another. Demonstrate your understanding of the findings by interpreting the
performance and financial position of the three companies by commenting on any significant
patterns and causal relationships. Use of charts and tables is expected in your supporting
argument. It is essential to establish the key facts and important issues surrounding the
industry, selected companies and literature, you are therefore required to look at the audited
financial statements and carry out further research to explain the performance of the
companies over the three years. (30 Marks)
1c. Using information and results from tasks 1 and 2 above, put forward a short case justifying
the reasons why the best performing company (using the ranking result from task 2) would/
would not be a positive investment opportunity. In order to present a balanced argument,
consider opinions which may run contrary to your own before stating your conclusion.
(10 marks)
You are expected to research for more information on the companies and cite the material
correctly. You can use the Orbis database to access analysts’ and SWOT reports.
4
SECTION B
Question 2
Most companies invest a significant amount of time and resources into trying to reach decisions on
how to finance a business to achieving the optimum finance mix. Finance decisions coupled with
strategic planning, marketing and organisational design can be a critical aspect of the future
success or failure of a business. Critically evaluate the internal and external short term sources of
finance available to one of the three companies in the case study in relation to working capital,
cashflow and risk.
Required
You are required to prepare a memo on the topic of ‘Financing a Business’, addressing the
following areas:
2a. Using evidence from a range of sources, critically evaluate the main types of internal and
external short term finance available to listed companies, use numerical examples to help
illustrate key aspects eg cost, risk, impact on cashflow and working capital. Reach a final
conclusion, basing your decision on what you judge to be the most important factors and
justify how you have made your choice. (20 Marks).
2b. Select one source of short term finance used by one of the company’s in the case study, to
explore how it affects the interests of existing stakeholders. Consider a variety of
stakeholders’ viewpoints. Where possible reconcile opposing views by presenting a final
line of argument. (10 Marks).
.
5
ADDITIONAL GUIDANCE
1. All calculations must be detailed and presented clearly.
2. Use of published work (citing references) within text is expected.
3. A full list of references should be presented at the end of the case study.
4. Please avoid the use of ‘I, We, Us’ in your case study. You are expected to write in third
person.
5. Include the assignment front sheet which is attached to the assignment brief.
6. Your answer should not repeat the question as it will be included in your word count.
7. Formatting:
a. Font Type: Arial.
b. Font size 11/12.
c. Line spacing 1.5 to 2.
d. All pages must be numbered
e. All graphs, charts and tables should have a number and a title.
f. All text must be aligned to the left.
Learning Outcomes
The learning outcomes that are being assessed in this assignment are:
Module Learning Outcomes
On successful completion of the module with limited guidance, students will be able
to:
Subject-Specific Knowledge, Understanding & Application
a) Understand and interpret the fundamental concepts and principles which underpin
internal operational decisions within business.
c) Analyse, interpret and critically review more complex financial accounting information
drawn from the current reporting environment.
d) Appraise critically various principles of long term capital decisions, cost of capital, the
time value of money, shareholder value and risk management.
Employability & Changemaker Skills
e) Communicate written and numerical information in an appropriate and effective
manner.
f) Review academic theory in a critical and reflective manner suitable for an academic
audience.
Your grade will depend on the extent to which you meet these learning outcomes in the way
relevant for this assessment. Please see the grading rubric at the end of this assessment brief for
further details of the criteria against which you will be assessed.
6
Word Limits
The maximum word limit for this assessment is 2,400 words. Section A maximum word limit 1,500
words. Section B maximum word limit 900 words.
In accordance with the Assessment and Feedback Policy, as stated in section 4.40 where a
submission exceeds the stipulated word limit by more than 10%, the submission will only be
marked up to and including the additional 10%. Anything over this will not be included in the
final grade for the assessment item. Abstracts, bibliographies, reference lists, appendices and
footnotes are excluded from any word limit requirements.
In line with section 4.41 of the same Policy, where a submission is notably under the word
limit, the full submission will be marked on the extent to which the learning objectives have
been met.
Assessment Support
Please refer to ACC3015STD NILE site, Term 2 weeks 21-25 for details of specific assignment support
sessions and activities (subject to change). It is important that you attend all these sessions and
access the Student Success Mentors for support, as a range of activities have been scheduled to
support research techniques and referencing skills along with the opportunity to obtain formative
feedback.
All students studying at UoN campuses in Northampton will also receive an additional 6 hours of
embedded academic skills development at each level of the programme of study. The skills
sessions for BA Business and Management Top-up are included in the compulsory modules
BUS3005 and BUS4002.
Generic Grading Criteria
You will find the generic grading criteria for achievement at University Grading Criteria. Also
explained here are the meanings of the various G grades at the bottom of the grading scale.
Assessment Submission
To submit your work, please go to the ‘Submit your work’ area on the NILE site and use the
relevant submission point to upload your report. The deadline for this is 11.59pm (UK local time)
on the date of submission.
Written work submitted to TURNITIN will be subject to anti-plagiarism detection software. Turnitin
checks student work for possible textual matches against internet available resources and its own
proprietary database.
When you upload your work correctly to TURNITIN you will receive a receipt which is your record
and proof of submission.
If your assessment is not submitted to TURNITIN rather than a receipt you will see a green banner
at the top of the screen that denotes successful submission.
N.B Work emailed directly to your tutor will not be marked. The only exception to this is
when you are instructed to do so because TURNITIN is down.
7
Late submission of work
For first sits, if an item of assessment is submitted late and an extension has not been granted, the
following will apply:
• Within one week of the original deadline – work will be marked and returned with full
feedback, and awarded a maximum bare pass grade.
• More than one week from original deadline – maximum grade achievable LG (L indicating
late).
Extensions
The University of Northampton’s general policy with regard to extensions is to be supportive of
students who have genuine difficulties, but not against pressures of work that could have
reasonably been anticipated.
For full details please refer to the Extensions Policy. The module leader can, where appropriate,
authorise a short extension of up to two weeks from the original submission date for first sits only.
Mitigating Circumstances
For guidance on Mitigating circumstances please go to Mitigating Circumstances where you will
find detailed guidance on the policy as well as guidance and the form for making an application.
Please note, however, that an application to defer an assessment on the grounds of mitigating
circumstances should normally be made in advance of the submission deadline or examination
date.
Plagiarism and Academic Integrity
Unless this is a group assessment, the work you produce must be your own with work taken from
any other source properly referenced and attributed. The University of Northampton policy will apply
in all cases of copying, plagiarism or any other methods by which students have obtained (or
attempted to obtain) an unfair advantage.
If you are in any doubt about what constitutes plagiarism or any other infringement of academic
integrity, please read the University’s Academic Integrity and Misconduct Policy. For help with
understanding academic integrity go to UNPAC and follow the Top Tips for Good Academic
Practice on the student hub.
Please note that the penalties for copying work from another source without proper
referencing are severe and can include failing the assessment, failing the module and
expulsion from the university.
Feedback and Grades
These can be accessed through clicking on the Feedback and Grades tab on NILE. Feedback will be
provided by a rubric with summary comments
8
Criteria
Grade / %
No submission / no
evidence Fail Pass Commended Merit Distinction
Work submitted is of
no academic value /
nothing submitted
Evidence included or
provided but missing in
some very important
aspects.
Of satisfactory quality,
demonstrating evidence of
achieving the requirements
of the learning outcomes
Of sound quality,
demonstrative which is
sufficient and appropriate
to the task or activity
Of high quality,
demonstrating evidence
which is rigorous and
convincing, appropriate to
the task or activity
Of very high quality,
demonstrating evidence
which is strong, robust and
consistent, appropriate to
the task or activity
Learning Outcome a)
Understand and interpret the
fundamental concepts and
principles which underpin
internal operational decisions
within business. 15%
0 to 0 points
Work submitted is of no
academic value/ nothing
submitted
1 to 4 points
Evidence of some description
of the of the key fundamental
concepts and principles which
underpin internal operational
decisions within a business ie
how do you know whether the
business has achieved the
financial goals and the
measurable success set out in
the strategic plan in all its
operations? eg solvency,
maximising return, funding mix,
growth and financial
sustainability of operations,
stakeholders. Interpretations
put forward lacking clarity very
limited support by evidence
from industry (annual reports,
market reports) and literature.
Demonstrates poor
understanding.
5 to 6 points
Evidence of some explanation
of the of the key fundamental
concepts and principles which
underpin internal operational
decisions within a business ie
how do you know whether the
business has achieved the
financial goals and the
measurable success set out in
the strategic plan in all its
operations? eg solvency,
maximising return, funding mix,
benchmarking, growth and
financial sustainability,
stakeholders. Interpretations
put forward are generally
supported by evidence from
industry (annual reports,
market reports) and literature.
Demonstrates a fair
understanding.
7 to 8 points
Evidence of some interpretation
of the of the key fundamental
concepts and principles which
underpin internal operational
decisions within a business with
some comparison between
companies and industry ie how
do you know whether the
business has achieved the
financial goals and the
measurable success set out in
the strategic plan in all its
operations? eg solvency,
maximising return, funding mix,
benchmarking, growth and
financial sustainability,
stakeholders. Interpretations put
forward are mostly relevant and
supported by evidence from
industry (annual reports, market
reports) and literature.
Demonstrates a good
understanding.
.
9 to 10 points
Evidence of clear interpretation
of the of the key fundamental
concepts and principles which
underpin internal operational
decisions within a business with
comparison between companies
and industry ie how do you know
whether the business has
achieved the financial goals and
the measurable success set out
in the strategic plan in all its
operations? eg solvency,
maximising return, funding mix,
growth and financial
sustainability, stakeholders.
Interpretations put forward are
relevant and supported by
evidence from industry (annual
reports, market reports) and
literature.
Demonstrates a clear
understanding
11 to 15 points
Evidence of clear interpretation
directly related to the key
fundamental concepts and
principles which underpin
internal operational decisions
within a business with relevant
comparisons between
companies and industry ie how
do you know whether the
business has achieved the
financial goals and the
measurable success set out in
the strategic plan in all its
operations? eg solvency,
maximising return, funding mix,
growth and financial
sustainability, stakeholders.
Interpretations put forward are
directly relevant and supported
by evidence from industry
(annual reports, market reports)
and literature.
Demonstrates a excellent
understanding
Learning Outcome c)
Analyse, interpret and critically
review more complex financial
accounting information drawn
from the current reporting
environment. 40%
0 to 0 points
Work submitted is of no
academic value/ nothing
submitted
1 to 12 points
Incomplete selection of ratios
lacking coverage of all
categories of ratio. Choice of
financial and non financial
ratios demonstrates lack of
understanding. Presentation of
financial and non financial
ratios for the past three years
are incomplete or missing.
There is some discussion but
little or no meaningful analysis
of trends and changes in
performance based on ratio
analysis results. There is some
discussion but little or no
meaningful interpretation of
trends and changes in
performance based on ratio
analysis results.
There is some discussion but
little or no meaningful critical
review of trends and changes
13 to 16 points
Complete and mostly relevant
selection of ratios, coverage of
all categories of ratio with
some support by literature.
Choice of financial and non
financial ratios demonstrates
fair understanding.
Presentation of all financial and
all non financial ratios for the
past three years are mostly
complete, including ranking.
There is some explanation,
lacking meaningful analysis of
trends and changes in
performance based on ratio
analysis results. There is some
explanation, lacking meaningful
interpretation of trends and
changes in performance based
on ratio analysis results. Little
or no implications of any
changes in performance
17 to 22 points
Complete and relevant selection
of ratios, coverage of all
categories of ratio supported by
literature. Choice of financial
and non financial ratios
demonstrates good
understanding. Presentation of
all financial and all non financial
ratios for the past three years
are complete, including ranking.
There is some analysis of trends
and changes in
performance based on ratio
analysis results. There is some
interpretation of trends and
changes in performance based
on ratio analysis results. Some
implications of any changes in
performance compared between
companies and industry
benchmark. There is some
critical review of trends and
23 to 27 points
Complete and relevant selection
of ratios, coverage of all
categories of ratio supported by
literature. Choice of financial and
non financial ratios demonstrates
good understanding.
Presentation of all financial and
all non financial ratios for the
past three years are complete,
including ranking. Analysis of
trends and changes in
performance based on ratio
analysis results. Interpretation of
trends and changes in
performance based on ratio
analysis results and with some
use of industry benchmark.
Implications of any changes in
performance compared between
companies and industry
benchmark.
28 to 40 points
Well considered and relevant
selection of ratios within the
context of the companies and
industry, coverage of all
categories of ratio supported by
literature. Choice of financial and
non financial ratios
demonstrates strong
understanding. Presentation of
all financial and all non financial
ratios for the past three years
are complete, including ranking.
Clear and relevant analysis of
trends and changes in
performance based on ratio
analysis results and industry
benchmark. Clear and relevant
interpretation of trends and
changes in performance based
on ratio analysis results and
industry benchmark. Implications
of any changes in performance
9
in performance based on ratio
analysis results. There is some
discussion on the best
performing company with
limited content on the
investment opportunity. Very
limited support by evidence
from industry (annual reports,
market reports) and literature.
Demonstrates poor
understanding
compared between companies.
There is some review, lacking
meaningful critical review of
trends and changes in
performance based on ratio
analysis results. Little or no
implications of any changes in
performance compared
between companies. There is
some discussion on the best
performing company with
limited explanation on the
investment opportunity. Some
evidence of research from
industry (annual reports,
market reports) and literature.
Demonstrates fair
understanding
changes in performance based
on ratio analysis results. Some
implications of any changes in
performance compared between
companies and industry
benchmark. Best performing
company identified with some
justification supporting the
investment opportunity.
Evidence of research from
industry (annual reports, market
reports) and literature to support
and justify some content.
Demonstrates good
understanding
Critical review of trends and
changes in performance based
on ratio analysis results with
some use of industry benchmark.
Implications of any changes in
performance compared between
companies and industry
benchmark. Best performing
company identified with clear
justification supporting the
investment opportunity. Clear
evidence of research from
industry (annual
reports, market reports) and
literature to support and justify
most content. Demonstrates
clear understanding
compared between companies
and industry benchmark. Critical
review of trends and changes in
performance based on ratio
analysis results and industry
benchmark.
Implications of any changes in
performance compared between
companies and industry
benchmark. Best
performing company identified
with sound justification and clear
linkage to ratio analysis
supporting the investment
opportunity. Sound evidence of
research of the current
environment (annual reports,
market reports) and literature to
support and justify content.
Demonstrates excellent
understanding
Learning Outcome d)
Appraise critically various
principles of long term capital
decisions, cost of capital, the
time value of money,
shareholder value and risk
management. 30%
0 to 0 points
Work submitted is of no
academic value/ nothing
submitted
1 to 9 points
Little, or no, meaningful
explanation of the main
sources of internal and external
short term finance available to
listed companies, lacking use
of case study examples or
numeric examples to illustrate
key aspects. Some discussion
on how one clearly identified
source of short term finance
affects the interests of existing
stakeholders, lacking coverage
of investor interests.
Demonstrates minimal
knowledge of the assessment
expectations. Demonstrates
poor understanding.
10 to12 points
Some meaningful explanation
of some of the main sources of
internal and external short term
finance available to listed
companies, some use of case
study examples and numeric
examples to illustrate key
aspects. Some explanation as
to how one clearly identified
source of short term finance
affects the interests of existing
stakeholders, including some
coverage of investor interests.
Limited support from industry
and literature.
Demonstrates some
understanding.
13 to 16 points
Some meaningful appraisal of
most of the main sources of
internal and external short term
finance available to listed
companies, good use of case
study examples and numeric
examples to illustrate key
aspects. Some appraisal of how
one clearly identified source of
short term finance affects the
interests of existing
stakeholders, including some
coverage of investor interests.
Some support from industry and
literature.
Demonstrates good
understanding.
17 to 20 points
Some meaningful critical
appraisal of all the main sources
of internal and external short
term finance available to listed
companies, good use of case
study examples and numeric
examples to illustrate key
aspects. Some critical appraisal
of how one clearly identified
source of short term finance
affects the interests of existing
stakeholders, including some
coverage of investor interests.
Supported by evidence from
industry and literature.
Demonstrates very good
understanding
21 to 30 points
Well considered and relevant
critical appraisal of all the main
sources of internal and external
short term finance available to
listed companies, good use of
case study examples and
numeric examples to illustrate
key aspects. Critical appraisal of
how one clearly identified source
of short term finance affects the
interests of existing
stakeholders, including some
coverage of investor interests.
Clearly supported by strong
evidence from industry and
literature. Demonstrates
excellent understanding
Learning Outcome e)
Communicate written and
numerical information in an
appropriate and effective
manner. 5%
0 to 0 points
Work submitted is of no
academic value/ nothing
submitted
1 to 1 points
Presentation is of a poor
standard, some, or all, of the
following were omitted; front
page, contents page, list of
figures, use of headings,
appendix, reference page etc.
Some tables and charts have
been used which are either
incomplete or not relevant to
aiding understanding to
audience.
2 to 2 points
Presentation is of a reasonable
standard, most of the following
were included; front page,
contents page, list of figures,
use of headings, appendix,
reference page etc. Tables and
charts have been used to
display key aspects of the
information and demonstrates
a fair understanding of the
audience and assessment
requirements
3 to 3 points
Presentation is of a good
standard, all of the following
were included; front page,
contents page, list of figures,
use of headings, appendix,
reference page etc. Tables and
charts have been used to
display key aspects of the
information and demonstrates a
good understanding of the
audience and assessment
requirements
4 to 4 points
Presentation is of a very good
standard, all of the following were
included; front page, contents
page, list of figures, use of
headings, appendix, reference
page etc. Good selection of good
quality tables and charts have
been used clearly to display key
aspects of the information and
demonstrates a very good
understanding of the audience
and assessment requirements
5 to 5 points
Presentation is of an excellent
standard, all of the following
were included; front page,
contents page, list of figures, use
of headings, appendix, reference
page etc. Excellent selection of
good quality tables and charts
have been used clearly to
display key aspects of the
information and demonstrates a
very good understanding of the
audience and assessment
requirements
10
Learning Outcome f)
Review academic theory in a
critical and reflective manner
suitable for an academic
audience. 10%
0 to 0 points
Work submitted is of no
academic value/ nothing
submitted
1 to 3 points
Little or no academic or
industry sources have been
used or applied correctly. Little
or no evidence of research.
Poor command of academic /
professional conventions
appropriate to the discipline
Standard of English is poor.
4 to 4 points
Few academic or industry
sources have been used or
applied correctly. Some use of
case studies to support the
discussion. Satisfactory
command of academic /
professional conventions
appropriate to the discipline
Standard of English is fair.
5 to 5 points
Some academic or industry
sources have been used or
applied correctly. Some use of
case studies to support the
discussion. Sound command of
academic / professional
conventions sufficient and
appropriate to the discipline
Standard of English is good.
6 to 6 points
A range of academic and
industry sources have been
applied correctly. Highly effective
use of case studies to support
the discussion. Rigorous
command of academic /
professional conventions
appropriate to the discipline.
Standard of English is very good.
7 to 10 points
A wide range of academic and
industry sources have been
applied correctly. Highly
effective use of case studies to
support the discussion.
Authoritative
command of academic /
professional conventions
appropriate to the discipline
Standard of English is high.
11