22320 Accounting for Business Combinations
The aim of the group assignment is to enhance students’ ability to conduct independent research and apply the knowledge and skills learned in this subject to evaluate various facets of real-world mergers and acquisitions transactions. Students will also have the opportunity to work in groups in preparing a written report of their findings using a format similar to that used by professional consultants in addressing business problems.
This assessment relates to the following subject and program learning objectives:
- SLO 1. Apply the regulations that determine accounting and reporting for economic entities.
- SLO 4. Discuss, in written form, the appropriate accounting treatment applicable in the given circumstances.
- PLO 2.1. Locate and critically evaluate relevant data and literature to address business problems through a research approach. Critically evaluate data and resources in the context of relevant academic literature.
- PLO 2.2. Apply critical and creative thinking to address issues in business.
Weighting and marks
20% of the total marks for the subject.
Group size and composition
The assignment is to be completed in groups of five students. All students in a group must be enrolled in the same tutorial. Group formation is on a voluntary basis and should be done by Week 4. After that, any unmatched students will be allocated to a group by their tutor.
Conduct your own research and analysis on the acquisition of MYOB by KKR in 2018/2019 and address the following questions.
- Discuss the background information on the acquisition and your evaluation of the choices made. These include, but not limited to, the acquisition method used, offer price, offer type (cash or shares), premium, regulatory approvals, etc.
- What are the economic rationales behind the acquisition? You should discuss the rationales from the perspectives of both companies.
- Why would the MYOB board still recommend shareholders to vote in favour of the scheme of arrangement despite the offer price from KKR dropped to $3.40 per share from the previous indicative offer of $3.77 per share? In addition, why do you think KKR would permit MYOB to have the ‘go shop’ arrangements before voting on the proposed deal?
- How did the stock market react to the initial and subsequent announcements surrounding the takeover bid for MYOB by KKR? Explain why the market reacted in the way it did.
- Becoming a listed company is the goal of many businesses. What do you think are the reasons why KKR removed the listing status of MYOB from the ASX after completing the acquisition?
While the assignment is largely practical in nature, assignments gaining higher marks will need to refer to academic literature to support arguments, in addition to internet and practitioner-based literature. These can be located through search engines (e.g., Google Scholar) and the UTS library website. You are only to use publicly available information in order to complete this assignment. For example, the internet, annual reports, newspaper, journal articles, databases, and books.
Formatting and final submission instructions
Cover Sheet and original authorship statement
Each report must be accompanied by a completed cover sheet, including the original authorship statement, signed by all team members (see end of this document). Each member should individually submit a peer review sheet on Canvas (see end of this document).
The assignment is to be written as a professional consulting report. The report must follow the formatting requirements outlined in the UTS Guide to Writing Assignments. The writing guide can be downloaded here: https://www.uts.edu.au/sites/default/files/2018-07/UTS-Business-School-Writing-Guide.pdf
The report should have a maximum length of 15 pages. The structure and relevant page limits of the final report are as follows:
- Signed cover sheet (not included in page limit)
- Table of contents (not included in page limit)
- Executive summary (max. 150 words)—this summarizes what the report found (past tense) and conclusions. This is different from an essay introduction, which introduces what the report will cover (future tense).
- Introduction—introduces the companies, industry and the context of the report
- Main body—includes main text, diagrams, figures and tables
- Conclusions (max. 200 words)
- Reference list (not included in page limit)
- Appendices (not included in page limit)
Formatting of text
- Font: Times New Roman, 12pt
- Line spacing: double line-spacing
- Margins: At least 2.54cm for top, bottom, left and right margins
All sources of information must be referenced in the report using the APA referencing style. Details on this style can be found in the writing guide. Further information can be found here:
Any source referenced ‘in-text’ must be listed in the reference list at the end of the report. Any report that contravenes the referencing policy may draw severe penalties and be referred to the student misconduct committee.
Assignment submission dates
- Group registration—students to register in Teams and complete the Group Registration form (see end of this document) before emailing to their tutor.
- Interim peer review—to ensure all students are contributing to the group assignment. Each student is required to submit a Peer Review sheet on Canvas during Week 8.
- Final assignment—to be submitted through Turnitin by 9:00 am Friday 14 May 2021. Late submissions will incur a 10% penalty of the assignment mark per day.
- Turnitin: The assignment is to be submitted through Turnitin (a plagiarism detection software). This is accessible on Canvas under the Assessments module (Assessment Task 2). Failure to submit through Turnitin will result in a zero mark being awarded.
- Naming your assignment file: Name your assignment file starting with your tutorial number and your group name (to be chosen by your group). For example, if you are enrolled in Tutorial 02 and your group name is ‘ABC’, then name your assignment file as follows: T02_ABC
- No hard copies are required.
- You can only submit your assignment to Turnitin ONCE.
|1) Group registration||Group registration form||Email to your tutor||Week 4|
|2) Interim peer review||Peer review to be completed on Canvas||Canvas under the Assessments module||Week 8|
|3) Final submission (online)||Complete final report (with cover sheet)||Canvas under the Assessments module||By 9:00 am, Friday, 14 May 2021||Turnitin report; completed marking rubric; report grade|
|4) Final peer review||Peer review to be completed on Canvas||Canvas under the Assessments module||By 9:00 am, Friday, 14 May 2021|
Groups that do not conform to the submission timeline will incur the following penalties:
- Final submission online—a penalty of 10% of the mark for every day late, applied to the assignment mark of 20. For example, if you submit your final report at 9:01 am on the due date, the group will receive a 2-mark reduction from the overall mark given for the assignment. The submission time is the time Turnitin records once the document has been uploaded. During peak assessment periods, uploading may take a while to process. Students are, therefore, advised to submit their assignment well in advance of the time due.
GROUP MEMBER DETAILS
It is the responsibility of each member of the group to collect at least 2 different forms of communication from each group member. This may include phone numbers, UTS email addresses, or other forms of communication the group agrees to set up and use.
|STUDENT ID||FAMILY NAME||FIRST NAME(S)||2 CONTACT DETAILS SHARED (Specify method)|
|Tutor name:||Tutorial number:|
|Person to submit assignment to Turnitin|
|Task/Component||Activities||Start date||Finish date||Responsible group member(s)|
OUR GROUP POLICIES:
- Outside class, how will we communicate with each other?
- How often will we communicate and how long is it reasonable to expect a reply?
- When will we attempt to meet? (E.g., what time, how often?)
- Where will our meetings take place? (E.g., virtual meeting online in Teams)
- When is it OK to miss a meeting?
- How do we deal with members who are late or miss a meeting?
- How do we deal with members who don’t participate enough, participate too much or distract the group from its task?
- What will we do if a group member’s work doesn’t meet our standards?
- Other policies:
We agree to this plan and policies and will try our best to uphold them:
|Student ID Number||Student Name||Signature|
22320 Accounting for Business Combinations
Group Assignment Cover Sheet
|Tutor name:||Tutorial number:|
|Group name:||Date submitted:|
Original Authorship Statement
We hereby certify that this assignment is our own work, based on our personal study and research and that we have acknowledged all material and sources used in the preparation of this assignment. We also certify that the assignment has not previously been submitted for assessment and that we have not copied in part or whole or otherwise plagiarised the work of other students or authors:
|Student ID Number||Student Name||Signature||Date|
SUBMISSION CHECKLIST (please read, tick and sign)
Final report structure and content
- Cover sheet
- Table of contents
- Executive summary
- Short introduction paragraph
- Headings used throughout the report
- Main conclusions
- Reference list and appendices
- Large blocks of text have been broken up into paragraphs, with one key idea per paragraph
- All statements of fact have been referenced
- Minimal use of direct quotes – ideas should be paraphrased in your own words
- Times New Roman font 12-point
- Line spacing double
- Margins: at least 2.54 cm for top, bottom, left and right margins
- Number of academic journal articles in reference list___
- Number of other sources in reference list____
- All direct quotes have page numbers in their in-text reference
- All references in text have been included in the final reference list
- Final reference list is in alphabetical order by author
- Report has been checked by all group members before submission—only one submission allowed
- Name of student who submitted the report to Turnitin _______________________
- Each group member has submitted the individual peer review sheet on Canvas
Peer Review Sheet (completion on Canvas)
Group members are expected to contribute equally to the completion of the assessment task. They are also expected to communicate regularly with each other in a respectful manner. If conflicts arise, it is expected that group members work together to resolve those issues. If the group is unable to resolve any conflicts in a timely manner, then the issue should be raised with your tutor immediately.
Each group member is required to allocate the contribution of each member of the group (including yourself) out of 100%. For example, if all group members contributed equally, then each member would be allocated a contribution of 100%. If you are assigning a contribution of less than 100% to a team member, you need to assess this member’s contribution relative to what was agreed for her/him. You also need to include a statement explaining why this member has not sufficiently contributed to the assessment task. These statements will be taken into consideration when awarding the final mark to each student.
The peer review sheet is to be submitted on Canvas under the Assessments module.
To evidence your contribution to the group assignment, we recommend that groups use google docs. Simply sign into Google using your UTS student email account so that it is clear who contributed what. You may need to first sign out of your personal google account if you have one.