ACCT20007 Accounting Information: Risks and Controls Video Presentation with Q&A
ACCT20007 Overview
The assignment is designed to support you in applying the skills learnt during the semester. You are required to prepare a video presentation for the fictional organisation Flaming Chopsticks, that analyses the strengths and weaknesses of their proposed sales process and provide recommendations for changes prior to rollout. These should be discussed in relation to Flaming Chopsticks’ operational (process) and information quality goals. Furthermore, the video presentation should also include recommendations of changes that should be made before rollout to improve the achievement of the operational (process) and information quality goals, and two KPIs to measure the success of the recommendations.
Flaming Chopsticks’ management team will invite your group for a Question and Answer (Q&A) session, in the week of 19th May, regarding your presentation and other possible recommendations following the submission of the video presentation.
ACCT20007 Assignment Task
You are required to prepare the following:
A video presentation with visual aids to guide management, you are also required to provide a brief introduction/summary to your project. The presentation must not exceed 10 minutes (and can be less) and in addition, should include the following sections.
a) An assessment of the strengths and weaknesses of Flaming Chopsticks’ proposed process. This section should contain subsections on:
i. The extent to which Flaming Chopsticks’ proposed process achieves the operational (process) goal. It should also include an explanation to support the assessment.
ii. The extent to which Flaming Chopsticks’ proposed process produces high-quality accounting information through the achievement of the information quality goals (i.e. validity, accuracy, and completeness). It should also include explanations to support the assessment.
iii. The impact on the financial statements of Flaming Chopsticks.
b) A summary table outlining each sub-section of section (a). Note: You are being asked to assess the operational (process) goal and information quality goals of the overall process. You are NOT being asked to assess the individual strengths and weaknesses of each subprocess (i.e., each flowchart individually)
c) Recommendations on how Flaming Chopsticks proposed process could be improved to better achieve the operational (process) goal and/or improve information quality. Specifically, this section will:
i. Briefly describe your recommended changes.
ii. Explain exactly how your recommended changes will alter the operation of the process and consequently help achieve the operational (process) and information quality goals.
iii. Discuss the strengths of your recommended process over Flaming Chopsticks’ existing process.
iv. Discuss any possible weaknesses in your recommended process
d) An explanation of how management could measure the success of your recommended changes in section (c). Specifically, this section will:
i. Identify two appropriate key performance measures (KPIs) to assess the impact of the changes.
NOTE: Please note this is asking for measures on the success of your recommendations not the success of the app. Measures based on the success of the app will not be considered.
ii. Explain how each of the KPIs will be calculated and what data will be used, including how the data can be collected if necessary.
iii. Explain why these measures are suitable to assess the changes in performance expected as a result of your recommendations.
In addition to content, it is expected that the group as a whole and each group member appear in the video. The minimum requirements for this are:
- A group photo, with each person in the group named at the start of the presentation, must be included. This could be a group photo or 5 (five) individual pictures on a single slide; AND
- The video includes a title slide, including all group members’ names in speaking order and indicating what section(s) each person is presenting; AND
- Each group member presenting individually while appearing on screen (i.e., not a photo) for a minimum of 10 seconds (can be a picture in picture video) after either being introduced by name OR introducing themselves at the start of their section to enable identification.
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Question and Answer (Q&A) Session
The week following the submission of the video presentation, each group will be invited in for Question and Answer (Q&A) session regarding their video presentation and the case. Location of the Q&A session will be provided (through an announcement) in due course.
Each group member will be asked a question(s) regarding their overall understanding of the case, and not on the section of the presentation they presented.
Questions will focus on, but not be limited to:
The justification behind the strengths and weaknesses of Flaming Chopsticks’ proposed process
- The reasons for identifying your examples
- Other examples that have been identified, and why are they not considered as one of the key examples
- The selection of the KPI, data collection, and why the KPIs are suitable. Group members are encouraged to support each other in answering questions, but in the first instance, questions will be directed at specific members and time should be allowed for them to answer.
Questions will generally not be directed at the person who presented that section. For example, if a group member presented the KPI section, it is unlikely they will be asked a question about the KPIs, any questions about KPIs will be directed to another group member.
It is recommended that you use the resources on the LMS in the Assignment Resources folder to help you prepare for this assignment.
Group and individual assignment
You will be assessed both as a group and as an individual. The marks obtained for this exercise are worth 30% of the subject. 20% of your final grade will be group-based and 10% individual-based. Feedback will be provided on both the group and individual aspects.
All group members are expected to contribute equally to your group’s effort. Each group is responsible for managing the distribution of the workload for completing the assignment.