Using Classical Political Economy and Managerial Stakeholder Theory to Explain JB Hi-Fi's Reporting Decisions

This article explains how JB Hi-Fi used Classical Political Economy and Managerial Stakeholder Theory in their reporting decisions. The Classical Political Economy Theory was used to explain the company's decision to release its profit downgrade in the way it did. On the other hand, the Managerial branch of Stakeholder Theory was used to explain the company's reporting decisions. The article provides evidence from the case study to support the observations.

ACCT20074 Final Assignment
Term 1, 2018
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Question 1: Use Classical Political Economy Theory to explain JB Hi-Fi’sdecision to release its profit downgrade
in the way it did. Make sure you explain what Institutional Theory is, and support your observations with evidence
from the case study.
Answer: The Classical political economy theory was first invented by Karl Marx under first edition of Das Kapital, to describe
the Scottish and British economists that depicts ‘internal framework’ under “bourgeoise mode of production”. The political and
classical economy theory assists in analysing the manufacture, distribution, and exchanging the commodities under the market
societies. As per the classical thinkers, the determinants for the economic growth are the specialization of labour, human skill,
improvements of productivity, trade and markets expansion (Cohn, 2016). It was assumed that more markets will lead to more trade
that will lead to more growth and eventually will rise the tide lifts for all the boats. Though the truthfulness of the statement is not
yet confirmed. However in the case of JB hifi the chief executive has anticipated a fall in the profit or the year by 2.9%.With the help
of the classical economic theory it can be said that the main reason for the anticipation is competition that has been taking place in
the home appliance industry in Australia (Keohaneand Martin2014). In addition to the Institutional Theory that explanations
regarding why the organisations are inclined to adopt similar characteristics and form that might be implemented for bringing
legitimacy in the organisation –‘Organisations complies with the requirements as they are rewarded for that through increasing the
legitimacy, survival capabilities’ and resources. The company of JB hifi who had expected the profit to be $235 million and $240
million in 2017/18 has reduced the same to $230 million(Mosco, 2014).The main rational for lowering the annual profit forecast can
be also depicted with the Good Guys driving shares down by almost 10% low since late November. Moreover, the electronics retailer
reduced its overall profit outlook to $ 230 which was previously expected to be ranging between $ 235-$240. According to the
institutional theory, in several instances business corporations tackle the decreasing earnings by avoiding additional payment of tax.
In this particular situation, the statutory reports clearly showed that the company earned more amount of profit after tax however in
the consolidated report it reduced down by $ 5 to $ 10 million so that it can survive in the challenging competitive environment by
paying less amount of taxes in compared to other companies. Some of the other evidence of challenges to the company can be
depicted with performance of Good Guys whose profit will be sent to be impacted by unfavourable price competition(Cohn, 2016).
Therefore, as the overall market for the experiencing a drop-in sale it was more feasible for companies like JB hi-fi to release its profit
to downgrade so that it did not have to pay the additional amount of tax in a legitimate manner and still stay in the competition.
The challenging conditions in the home appliance market are expected to impact performance in the short term of the company;
therefore the shares dropped $2.29 that is 9%. The Institutional strongly focuses and are more resilient towards the social structure

aspects and takes into consideration the procedures through which the structures that includes various schemes, norms, rules and
routines are established as authoritative guidelines for social behaviour. In the given case study the company in order to adapt with
the social authoritative norms has taken the decisions. The chief executive of the JB hi fi along with the board is committed to
conduct ethically according to the high standards of the governance principle has considered the institutional theory and has taken
the decision of downgrading the profits for the year (Keynes, 2017).
References:
Mosco, V. (2014). Political Economy. In The Routledge Companion to Global Popular Culture (pp. 35-44). Routledge.
Cohn, T. H. (2016). Global political economy: Theory and practice. Routledge.
Keynes, J. N. (2017). The scope and method of political economy. Routledge.
Healey, P. (2017). Political Economy, Diversity and Pragmatism: Critical Essays in Planning Theory (Vol. 2). Routledge.
Keohane, R.O. and Martin, L.L., 2014. Institutional theory as a research program. The Realism Reader, p.320
Marker’s Comments: The marker will provide feedback here. Mark (10):
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Exceeds Expectations
(High Distinction) 85-100%
Exceeds Expectations
(Distinction) 75 - 84%
Meets Expectations
(Credit) 65 – 74%
Meets Expectations
(Pass) 50 – 64%
Below Expectations
(Fail) below 50%
Demonstrates a balanced and very
high level of detailed knowledge of
core concepts by providing a very
high level of analysis. Utilises
current, appropriate and credible
sources.
Demonstrates a balanced and high
level of knowledge of core
concepts by providing a high level
of analysis. Utilises mostly current,
appropriate and credible sources.
Demonstrates a good level of
knowledge of some of the core
concepts by providing some level
of analysis. Utilises some current,
appropriate and credible sources.
Demonstrates limited knowledge of
core concepts by providing a
limited level of analysis. Utilises
few current, appropriate and
credible sources.
Demonstrates little, if any,
knowledge of the core concepts
with extremely limited, if any,
analysis. Utilises little, if any,
current, appropriate and credible
sources.
Quality of writing at a very high
standard. Paragraphs are
coherently connected to each
other. Correct grammar, spelling
and punctuation.
Quality of writing is of a high
standard. Paragraphs are mostly
well structured. Few grammar,
spelling and punctuation mistakes.
Quality of writing is of a good
standard. Few grammar, spelling
and punctuation mistakes.
Some problems with sentence
structure and presentation
Frequent grammar, punctuation
and spelling mistakes. Use of
inappropriate language.
Quality of writing is at a very poor
standard so barely
understandable. Many
spellingmistakes. Little or no
evidence of proof reading.
The assessment presents a
detailed and focused summary of
the ideas presented; drawing clear
and well thought-out conclusions.
The assessment presents a fairly
detailed and focused summary of
the ideas presented; drawing fairly
clear and well thought-out
conclusions.
The assessment presents a
somewhat detailed and focused
summary of the ideas presented;
providing some evidence of
conclusions.
The assessment provides limited
detail with no clear summary of the
ideas presented; drawing limited
conclusions.
The assessment fails to provide
any clear evidence of the ideas
presented; drawing no clear
conclusions.

Question 2: Use the Managerial branch of Stakeholder Theory to explain JB Hi-Fi’s reporting decisions. Make sure
you support your observations with evidence from the case study.
Answer: The Managerial branch under Stakeholder Theory is a theory that explains when the corporate management are likely to
fulfil the expectations of particular stakeholders particularly for them who are powerful. It concentrates more on the organisation
and its identified stakeholders (Pérez, López&García-De los Salmones 2017). The Managerial branch of Stakeholder Theory
represents the extent up to which the organisation believes to maintain and manage the relationship in interests of the
organisation(Deegan, 2014). The theory can be examined through empirical observation. Unlike the normative ethical branch, it
particularly takes into consideration various groups of stakeholder in society and offers knowledge regarding how they must be
managed in most effective way, and like Legitimacy Theory, it does not take into consideration the society as a whole. Here the
Expectations of stakeholders considered to impact on operating and disclosure policies. In the given case it is clear that the giant
company of JB hifi has adapted the managerial branch of Stakeholder Theory in their decision making process. The company has
downgraded their profit(Lu, Abeysekera&Cortese 2015). JB hifi who had expected the profit to be $235 million and $240 million in
2017/18 has reduced the same to $230 million. The challenging conditions in the home appliance market are expected to impact
performance in the short term of the company; therefore the shares dropped $2.29 that is 9%. Based on the particular consideration
in the case of JB hi-fi it can be clearly seen that the company revised its net profit after tax as per various guidance which has been
observed with the managerial branch of stakeholders. It needs to be observed that based on the guidance in the section 7.3 of the
guidance note 8 published by the ASX, a company is expected to treat its variation in earnings as per the guidance equal to 5% less
than being material and presume the guidance therefore does not need updating. However, JB hi-fi overlooked this consideration of
optional updating and looked on the positive side of bringing into consideration that makes real effect of price or value into the
entity’s security. Therefore, the application of managerial branch of stakeholder theory is evident in this case as JB hi-fi attempted to
meet the expectation ofexpectation of particular stakeholders by taking into account the maturity aspects stated in the section 7.3 of
guidance note 8 issued by ASX. In addition to this, the overall application of managerial branch of stakeholder theory is evident with
several types of other considerations of managerial branch states that organisation shall not necessarily respond to all the
stakeholders in an equal manner rather it will respond to only the powerful. In this particular situation, JB hi-fi decided to act in
favour of the materiality guidelines which were issued by the ASX.
The company considers the Managerial branch of Stakeholder Theory in this decision making process as the concentration is more on

the stakeholders of the company that includes the outsiders and the investors. The share price of the company for the fell down
drastically by 9% due to this as the various share holders were willing to sell off their JB hifi shares anticipating a loss(Bouten and
Hoozée 2015). The company with this decision making process warned the shareholdersbefore hand in order to avoid the loss. The
managerial branch of stakeholder theory is based on the principle that an organization and its stakeholders are interdependent upon
one another for resources and managers are responsible for maintaining this exchange relationship for the organization's survival. Jb
hihi9 therefore declared the loss anticipation for theirstakeholder’s survival.
References:
Bouten, L. and Hoozée, S., 2015. Challenges in sustainability and integrated reporting. Issues in Accounting Education Teaching
Notes, 30(4), pp.83-93.
Deegan, C. (2014). An overview of legitimacy theory as applied within the social and environmental accounting
literature. Sustainability accounting and accountability, 248-272.
Lu, Y., Abeysekera, I., &Cortese, C. (2015). Corporate social responsibility reporting quality, board characteristics and corporate social
reputation: evidence from China. Pacific Accounting Review, 27(1), 95-118.
Pérez, A., López, C., &García-De los Salmones, M. D. M. (2017). An empirical exploration of the link between reporting to
stakeholders and corporate social responsibility reputation in the Spanish context. Accounting, Auditing & Accountability
Journal, 30(3), 668-698.
Marker’s Comments: The marker will provide feedback here. Mark (10):
0
Exceeds Expectations
(High Distinction) 85-100%
Exceeds Expectations
(Distinction) 75 - 84%
Meets Expectations
(Credit) 65 – 74%
Meets Expectations
(Pass) 50 – 64%
Below Expectations
(Fail) below 50%
Demonstrates a balanced and very
high level of detailed knowledge of
core concepts by providing a very
high level of analysis. Utilises
current, appropriate and credible
Demonstrates a balanced and high
level of knowledge of core
concepts by providing a high level
of analysis. Utilises mostly current,
appropriate and credible sources.
Demonstrates a good level of
knowledge of some of the core
concepts by providing some level
of analysis. Utilises some current,
appropriate and credible sources.
Demonstrates limited knowledge of
core concepts by providing a
limited level of analysis. Utilises
few current, appropriate and
credible sources.
Demonstrates little, if any,
knowledge of the core concepts
with extremely limited, if any,
analysis. Utilises little, if any,
current, appropriate and credible

Exceeds Expectations
(High Distinction) 85-100%
Exceeds Expectations
(Distinction) 75 - 84%
Meets Expectations
(Credit) 65 – 74%
Meets Expectations
(Pass) 50 – 64%
Below Expectations
(Fail) below 50%
sources. sources.
Quality of writing at a very high
standard. Paragraphs are
coherently connected to each
other. Correct grammar, spelling
and punctuation.
Quality of writing is of a high
standard. Paragraphs are mostly
well structured. Few grammar,
spelling and punctuation mistakes.
Quality of writing is of a good
standard. Few grammar, spelling
and punctuation mistakes.
Some problems with sentence
structure and presentation
Frequent grammar, punctuation
and spelling mistakes. Use of
inappropriate language.
Quality of writing is at a very poor
standard so barely
understandable. Many spelling
mistakes. Little or no evidence of
proof reading.
The assessment presents a
detailed and focused summary of
the ideas presented; drawing clear
and well thought-out conclusions.
The assessment presents a fairly
detailed and focused summary of
the ideas presented; drawing fairly
clear and well thought-out
conclusions.
The assessment presents a
somewhat detailed and focused
summary of the ideas presented;
providing some evidence of
conclusions.
The assessment provides limited
detail with no clear summary of the
ideas presented; drawing limited
conclusions.
The assessment fails to provide
any clear evidence of the ideas
presented; drawing no clear
conclusions.

Question 3: To what extent do current share prices anticipate future earnings announcements? Use the case
study to support your answer.
The earnings announcement refers to the official public statement that represents the profitability of company in the present case of
retail business of jb hi fi, for the particular time period which is generally the quarter or the year (Loh&Stulz, 2018). The earnings
announcement normally takes place on particular date under the earnings season and is preceded by the earnings projections that
are issued by equity analysts. If a company is profitable and is leading up to announcement, the share price of the company will
usually go up slightly after releasing of the information.
The public listed companies like Jbhifi are obliged to communicate with the shareholders regarding the financial performance of the
company that is usually carried out through the earnings announcement (Bartov, Faurel & Mohanram 2017). Managers struggle to
maximize the wealth of shareholders through taking rational decisions with regard to finance. Announcements of earnings are crucial
as it determines the financial performance of the company with regard to wealth and profitability. In the present case of Jbhifi when
they anticipated a market is weak and the price of the stock may changes so quickly that none of the investors can earn more than
normal risk adjusted return. The declared information that proves the company as efficient, the prices of the stock shall reflect all the
information issued that makes it impossible for them to earn more than normal return through taking decisions based on the publicly
available information. However this may involve issues like changes in the management and introduction of various new accounting
approaches (Travlos, Trigeorgis & Vafeas, 2015). As per the Rationality theory all the investors are rational and therefore, when new
information is issued in the market they adjust the projections in rational manner with regard to the stock prices. The declaration
would provide the market foretaste regarding how the stocks are expected to be valued in future. If the Stock prices are expected to
rise while the earnings exceed the expectations of market. It disappoints the earnings results as it is likely to lower the share prices.
However, the Stock prices move on the basis of the expectations of market. Therefore, the chief executive of Jb hi fi declared the
profit downgrade beforehand. Further, 9% reduction in earnings may increase the stock prices to go up if the expectation is a much
larger decline.In absence of market expectations, there is little correlation between stock prices and earnings growth results (Bansal
&DesJardine, 2014). Therefore it can be said that the share prices moves in accordance with the earnings announcements in the
month when the earnings are announced. Shares in JB Hi-Fi sank 10 per cent after the consumer electronics giant company cut its
profit forecast for financial year 2018 at the conference, marking the stock’s biggest single-day fall since 2011.

References:
Bartov, E., Faurel, L., &Mohanram, P. S. (2017). Can Twitter help predict firm-level earnings and stock returns?. The Accounting
Review, 93(3), 25-57.
Travlos, N. G., Trigeorgis, L., &Vafeas, N. (2015). Shareholder wealth effects of dividend policy changes in an emerging stock market:
The case of Cyprus.
Loh, R. K., &Stulz, R. M. (2018). Is Sell‐Side Research More Valuable in Bad Times?. The Journal of Finance, 73(3), 959-1013.
Bansal, P., &DesJardine, M. R. (2014). Business sustainability: It is about time. Strategic Organization, 12(1), 70-78.
Marker’s Comments: The marker will provide feedback here. Mark (10):
0
Exceeds Expectations
(High Distinction) 85-100%
Exceeds Expectations
(Distinction) 75 - 84%
Meets Expectations
(Credit) 65 – 74%
Meets Expectations
(Pass) 50 – 64%
Below Expectations
(Fail) below 50%
Demonstrates a balanced and very
high level of detailed knowledge of
core concepts by providing a very
high level of analysis. Utilises
current, appropriate and credible
sources.
Demonstrates a balanced and high
level of knowledge of core
concepts by providing a high level
of analysis. Utilises mostly current,
appropriate and credible sources.
Demonstrates a good level of
knowledge of some of the core
concepts by providing some level
of analysis. Utilises some current,
appropriate and credible sources.
Demonstrates limited knowledge of
core concepts by providing a
limited level of analysis. Utilises
few current, appropriate and
credible sources.
Demonstrates little, if any,
knowledge of the core concepts
with extremely limited, if any,
analysis. Utilises little, if any,
current, appropriate and credible
sources.
Quality of writing at a very high
standard. Paragraphs are
coherently connected to each
other. Correct grammar, spelling
and punctuation.
Quality of writing is of a high
standard. Paragraphs are mostly
well structured. Few grammar,
spelling and punctuation mistakes.
Quality of writing is of a good
standard. Few grammar, spelling
and punctuation mistakes.
Some problems with sentence
structure and presentation
Frequent grammar, punctuation
and spelling mistakes. Use of
inappropriate language.
Quality of writing is at a very poor
standard so barely
understandable. Many spelling
mistakes. Little or no evidence of
proof reading.
The assessment presents a
detailed and focused summary of
the ideas presented; drawing clear
and well thought-out conclusions.
The assessment presents a fairly
detailed and focused summary of
the ideas presented; drawing fairly
clear and well thought-out
conclusions.
The assessment presents a
somewhat detailed and focused
summary of the ideas presented;
providing some evidence of
conclusions.
The assessment provides limited
detail with no clear summary of the
ideas presented; drawing limited
conclusions.
The assessment fails to provide
any clear evidence of the ideas
presented; drawing no clear
conclusions.

Question 4: Show how the Brunswik Lens Model might be used to explain an investor's decision about whether
to buy or sell shares in JB Hi-Fi following their downgrade“announcement”.
The Lens Model is a process of thinking the gives an elaborate description of the relations between the environment and the
behaviour of organisms in the environment. The fundamentals were developed by Egon Brunswik and popularized by Kenneth
Hammond through research on social judgments (Libby, 2017).The process of viewing the decisions that the people make and how
they go about making them is through the Lens Model of Brunswikhas been discussed in the context of the investor’s decision in the
company of Jbhifi. According to the model, there are the decision process that must be composed of 3 essential elements, the
elements includes the basic information that has been transferred for the situation of decision, then comes the actual decision that is
taken by the investor and then the last step includes the correct decision that should have been taken. According to the Brunswik
Lens Model
The decision of the investors depends on the factors based on the current situation(Elliott, Grant & Hodge, 2018). Keeping them in
mind the management of the Jbhifi made the announcement beforehand regarding the downfall if the company profit. This would
enable the potential investors to take the decisions accordingly. The anticipated loss would make the shareholders take the decision
of selling their shares to avoid further loss. As a result the price of the Shares in JB Hi-Fi sank 10 per cent after the giant companyof
consumer electronics cut its profit forecast for financial year 2018 at the conference, marking the stock’s biggest single-day fall since
2011(ten Brinke, Kish &Keltner, 2018). It can be concluded that as per the Lens Model of Brunswik the investors took their decisions
after announcement after analyzing the consequences of the share value due to the profit downgrade anticipation of the company
(McMullen, 2015).
The application of the lens model in the particular case of JB hi-fi needs to be identified with investor psychology and relating the
same with behavioural decision theory. The investors need to identify the investment criteria based on three level analysis which
includes input level, information processing level and output decision level. Therefore, the investors need to first prefer the historical
cost consideration of JB hi-fi and form a graphical presentation of the financial performance. Based on the significant analysis of
financial performance as per annual report published by the company in 2015, 2016 and 2017, it can be clearly depicted the company
performed moderately well in terms of generating more revenue and stock market performance.The present decision taken by the
company to downgrade its profit has been done in a very competitive and volatile market environment and therefore it is not
suggested for the investors to buy or sell shares in such a volatile situation. In addition to this, the various depiction on the improving
performance of financial aspects that investors need to wait for future market performance which may imply a completely different
scenario and then the decision to sell the shares can prove to be profitable in nature.

References:
Elliott, W. B., Grant, S. M., & Hodge, F. D. (2018). Negative News and Investor Trust: The Role of $ Firm and# CEO Twitter Use. Journal
of Accounting Research.
Libby, R. (2017). Accounting and human information processing. In The Routledge Companion to Behavioural Accounting
Research (pp. 42-54). Routledge.
McMullen, J. S. (2015). Entrepreneurial judgment as empathic accuracy: A sequential decision-making approach to entrepreneurial
action. Journal of Institutional Economics, 11(3), 651-681.
tenBrinke, L., Kish, A., &Keltner, D. (2018). Hedge Fund Managers With Psychopathic Tendencies Make for Worse
Investors. Personality and Social Psychology Bulletin, 44(2), 214-223.
Marker’s Comments: The marker will provide feedback here. Mark (10):
0
Exceeds Expectations
(High Distinction) 85-100%
Exceeds Expectations
(Distinction) 75 - 84%
Meets Expectations
(Credit) 65 – 74%
Meets Expectations
(Pass) 50 – 64%
Below Expectations
(Fail) below 50%
Demonstrates a balanced and very
high level of detailed knowledge of
core concepts by providing a very
high level of analysis. Utilises
current, appropriate and credible
sources.
Demonstrates a balanced and high
level of knowledge of core
concepts by providing a high level
of analysis. Utilises mostly current,
appropriate and credible sources.
Demonstrates a good level of
knowledge of some of the core
concepts by providing some level
of analysis. Utilises some current,
appropriate and credible sources.
Demonstrates limited knowledge of
core concepts by providing a
limited level of analysis. Utilises
few current, appropriate and
credible sources.
Demonstrates little, if any,
knowledge of the core concepts
with extremely limited, if any,
analysis. Utilises little, if any,
current, appropriate and credible
sources.
Quality of writing at a very high
standard. Paragraphs are
coherently connected to each
other. Correct grammar, spelling
and punctuation.
Quality of writing is of a high
standard. Paragraphs are mostly
well structured. Few grammar,
spelling and punctuation mistakes.
Quality of writing is of a good
standard. Few grammar, spelling
and punctuation mistakes.
Some problems with sentence
structure and presentation
Frequent grammar, punctuation
and spelling mistakes. Use of
inappropriate language.
Quality of writing is at a very poor
standard so barely
understandable. Many spelling
mistakes. Little or no evidence of
proof reading.
The assessment presents a The assessment presents a fairly The assessment presents a The assessment provides limited The assessment fails to provide

Exceeds Expectations
(High Distinction) 85-100%
Exceeds Expectations
(Distinction) 75 - 84%
Meets Expectations
(Credit) 65 – 74%
Meets Expectations
(Pass) 50 – 64%
Below Expectations
(Fail) below 50%
detailed and focused summary of
the ideas presented; drawing clear
and well thought-out conclusions.
detailed and focused summary of
the ideas presented; drawing fairly
clear and well thought-out
conclusions.
somewhat detailed and focused
summary of the ideas presented;
providing some evidence of
conclusions.
detail with no clear summary of the
ideas presented; drawing limited
conclusions.
any clear evidence of the ideas
presented; drawing no clear
conclusions.

Question 5: Some academics have criticised the accounting profession for acting to legitimise the capitalist
system (supposedly by supporting the “haves” against the “have nots”. Indicate whether the case study
supports the critical view of accounting, or whether it doesn’t. Use the case study to support your answer.
The Capitalism states the economic order under which the instruments of production (Land, Labour, Capital and Organization) are
controlled and owned privately and the production are carried out for profit (Davidson, 2017). As per the capitalistic economy, the
production means are owned by the private individuals or companies. Further, the individuals or companies are free to use of the
production in any manner they want to make profit (Frank, 2018).
A capitalist system or capitalist economy is one of the major parts of the productive resources those are involved under capitalist
industries for which the material instruments for production are hired or owned by the private persons and are operated at their
orders with regard to sale the services or product at profit that they assist to produce (Levi-Faur, 2017). Under the capitalistic society,
the production and pricing of goods and services are determined through free market or demand and supply. However some of the
government regulation may take place in this process. On the other contrary, the private owner under the capitalist system can
experience monopoly in market and prevent to have the free competition. In the present situation the company of jbhifi does not
supports the capitalist system (Berberoglu, 2016). The beginning of latest global financial and economic crisis has influenced
formation of various critical views regarding accounting in addition to the appeals for comprehensive changes. The financial sector
has been accused for acting legitimate the capitalistic system, but in the present case if the company had considered the capitalistic
system they would not have disclosed the anticipation of the downgrade in the profit.The case study cannot be regarded to support
the critical view of this notion as that based on the guidance in the section 7.3 of the guidance note 8 published by the ASX, a
company is expected to treat its variation in earnings as per the guidance equal to 5% less than being material and presume the
guidance therefore does not need updating. However, JB hi-fi overlooked this consideration of optional updating and looked on the
positive side of bringing into consideration that makes real effect of price or value into the entity’s security. Moreover, the company
took into consideration several aspects of safeguarding its materiality disclosures by even downgrading its profit. Some of the
significant discussions of the study have been further conducive in stating that JB hi-fi has continued to work in favour of the public
since its initiation in 1974. With more than 44 years of formation of the company, there has been no instance that the company has
depicted capitalist interest. Therefore, based on the significant consideration of the excerpts of information given in the case study it
cannot be stated that JB hi-fi accompanies with the statement of accounting profession legitimising the capitalist system

References:
Berberoglu, B. (2016). Conclusion: Beyond the Global Capitalist Crisis. In Beyond the Global Capitalist Crisis(pp. 195-198). Routledge.
Davidson, P. (2017). What Economic Policies Can a Democracy Adopt to Assure We Live in a Prosperous, Civilized Capitalist System?.
In Who's Afraid of John Maynard Keynes? (pp. 145-154). Palgrave Macmillan, Cham.
Frank, A. G. (2018). The development of underdevelopment. In Promise of development (pp. 111-123). Routledge.
Levi-Faur, D. (2017). Regulatory capitalism. Regulatory Theory, 289.
Marker’s Comments: The marker will provide feedback here. Mark (10):
0
Exceeds Expectations
(High Distinction) 85-100%
Exceeds Expectations
(Distinction) 75 - 84%
Meets Expectations
(Credit) 65 – 74%
Meets Expectations
(Pass) 50 – 64%
Below Expectations
(Fail) below 50%
Demonstrates a balanced and very
high level of detailed knowledge of
core concepts by providing a very
high level of analysis. Utilises
current, appropriate and credible
sources.
Demonstrates a balanced and high
level of knowledge of core
concepts by providing a high level
of analysis. Utilises mostly current,
appropriate and credible sources.
Demonstrates a good level of
knowledge of some of the core
concepts by providing some level
of analysis. Utilises some current,
appropriate and credible sources.
Demonstrates limited knowledge of
core concepts by providing a
limited level of analysis. Utilises
few current, appropriate and
credible sources.
Demonstrates little, if any,
knowledge of the core concepts
with extremely limited, if any,
analysis. Utilises little, if any,
current, appropriate and credible
sources.
Quality of writing at a very high
standard. Paragraphs are
coherently connected to each
other. Correct grammar, spelling
and punctuation.
Quality of writing is of a high
standard. Paragraphs are mostly
well structured. Few grammar,
spelling and punctuation mistakes.
Quality of writing is of a good
standard. Few grammar, spelling
and punctuation mistakes.
Some problems with sentence
structure and presentation
Frequent grammar, punctuation
and spelling mistakes. Use of
inappropriate language.
Quality of writing is at a very poor
standard so barely
understandable. Many spelling
mistakes. Little or no evidence of
proof reading.
The assessment presents a
detailed and focused summary of
the ideas presented; drawing clear
and well thought-out conclusions.
The assessment presents a fairly
detailed and focused summary of
the ideas presented; drawing fairly
clear and well thought-out
conclusions.
The assessment presents a
somewhat detailed and focused
summary of the ideas presented;
providing some evidence of
conclusions.
The assessment provides limited
detail with no clear summary of the
ideas presented; drawing limited
conclusions.
The assessment fails to provide
any clear evidence of the ideas
presented; drawing no clear
conclusions.