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Background
You are a recent accounting graduate and have been employed in the Financial Reporting Unit of Vicinity Centres (VCX), an ASX listed real estate investment trust. The Risk management Committee of the Board has become increasingly concerned about the changes in the retail industry, and this is evidenced by information on retail sales released by the Australian Bureau of Statistics and the consequences this has for retailers, such as Myer, David Jones, Oroton and Specialty Fashion Group who are major tenants.
Required
You are required to prepare a report for the CFO considering the potential impacts of the changes in the retail industry of VCX.
a) With reference to VCX identify and summarise the accounting policies relating to investment properties and how these are dictated by regulation.
b) With reference to VCX identify and explain the flexibility management has available in the determination of investment property values.
c) With reference to VCX explain the potential impacts of the changes in the retail industry on the financial reports (balance sheet and income statement impacts).
d) Evaluate the potential economic consequences of these changes in the retail industry on the financial reports of VCX. This should be answered using the accounting theory related to the use of financial reports (Week 0 material)
Maximum Word Limit – maximum 1300 words. All material (excluding executive summary, references and appendices) over 1300 words will be disregarded.
Report structure – Your assignment must be set out as a report that adheres to the following structure:
· Title page that includes (a) title of assignment (b) subject name and number, (c) student name and number (d) word count clearly and honestly stated (title page not included in word limit)
· Executive summary (not included in word limit)
· Table of contents NOT required
· Introduction paragraph NOT required
· Body of report – Each of the four sections (a) (b) (c) (d) clearly shown with appropriate headings. Sub headings used as required.
· Conclusion paragraph NOT required
· Reference list (not included in word limit)
· Appendices if required (not included in word limit)
· Your name and student number must be included in the header of your word document
Refer to the UTS Business School Guide to Writing Assignments (link below) on recommendations and suggestions on how to structure your report.
https://www.uts.edu.au/sites/default/files/business-writing-guide-2014.pdf
Formatting of body of report
· 12 point font,
· 1.5 line spacing and
· 2.5 cm margins on all sides
Research – You must carry out independent research to complete this assignment and you must cite relevant academic (where relevant) and practitioner articles that support the material and views you present.
Referencing – Use Harvard style referencing. Ensure that:
· Statements made in-text are referenced where required.
· In-text reference format is correct.
· End-text references format is correct