Explaining JB Hi-Fi's reporting decisions using Managerial branch of Stakeholder Theory

The Managerial branch of Stakeholder Theory explains how corporate management meets the expectations of powerful stakeholders. JB Hi-Fi used this theory to make reporting decisions. The company downgraded its profit and warned shareholders beforehand to avoid loss. Evidence from the case study supports this observation.

ACCT20074 Final Assignment
Student ID :Karandeep Singh. Student ID : 12030851
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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 coined by Karl Marx in the first edition of Das Kapital, for describing
the British and Scottish economists that sought to explain the ‘internal framework’ of the “bourgeoise mode of production”. The
classical political economy theory helps to analyse the production, distribution, and exchange of commodities in market societies. For
the classical thinkers, the determinants of economic growth is labour specialization, human skill, productivity improvements, trade and
the expansion of markets(Cohn, 2016). It was assumed more markets = more trade = more growth = rising tide lifts all boats. Whether
this is true or not is not 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 tis the Institutional Theory that
Provides an explanation about why organisations tend to take on similar characteristics and form that might be adopted in order to
bring legitimacy to the organisation –‘Organisations conform because they are rewarded for doing so through increased legitimacy,
resources and survival capabilities’. 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 theory stresses on the deeper and more resilient aspects of social
structure and considers the processes by which structures, including schemes, rules, norms, and routines, become 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 hifi 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):
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
Quality of writing is at a
very poor standard so
barely understandable.
Many spellingmistakes.
Little or no evidence of
proof reading.

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%
language.
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: TheManagerial branch of Stakeholder Theory is a theory that attempts to explain when corporate management will be likely
be able to meetthe expectations of particular stakeholders especially 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 tested with empirical observation unlike normative ethical branch, it specifically considers the different stakeholder
groups within the society and provides knowledge on how they should managed in the most effective way, and it does not consider the
society as a whole like Legitimacy Theory. 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 of expectation 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
Demonstrates a balanced
and high level of
knowledge of core
concepts by providing a
high level of analysis.
Utilises mostly current,
Demonstrates a good
level of knowledge of
some of the core concepts
by providing some level
of analysis. Utilises some
current, appropriate and
Demonstrates limited
knowledge of core
concepts by providing a
limited level of analysis.
Utilises few current,
appropriate and credible
Demonstrates little, if
any, knowledge of the
core concepts with
extremely limited, if any,
analysis. Utilises little, if
any, current, appropriate

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%
current, appropriate and
credible sources.
appropriate and credible
sources.
credible sources. sources. 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 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 hifi, for a specific time period which is generally a quarter or a year(Loh&Stulz, 2018). The earnings
announcement normally occurs on a specific date during earnings season and is preceded by earnings estimates that equity analysts
issue. If a company has been profitable leading up to the announcement, its share price will usually increase up to and slightly after the
information is released.
The public listed companies like JB hifi has the duty to communicate to the shareholders on the financial performance of the firm
which is usually done through earnings announcement (Bartov, Faurel&Mohanram 2017). Managers strive to maximize shareholders
wealth by making rational financial decisions. Earnings announcements are important since it determines the firm’s financial
performance in terms of profits and wealth. In the present case of JB hifi when they anticipated a market is weak and the stock prices
may react so fast that no investor can earn an above normal risk adjusted return. The information that they declared efficient, stock
prices should reflect all information released making it impossible to earn above normal return by acting on publicly available
information. However this may include such issues like changes in management, introduction of new accounting techniques (Travlos,
Trigeorgis&Vafeas, 2015). The Rationality theory argues that all investors are rational thus when new information is released to the
market they adjust their estimates of stock prices in a rational manner. The declaration would provide the market glimpse on how
stocks will likely be valued in the future. If the Stock prices tend to rise when earnings results exceed market expectations while
disappointing earnings results tend to lower share prices.
Stock prices move based on market expectations. Therefore the chief executive of JBhifi declared the profit downgrade beforehand.
The 9% percent decrease in earnings may cause a stock 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 respond to earnings announcements in the month of earnings announcement.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 The assessment presents The assessment presents The assessment provides The assessment fails to

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%
a detailed and focused
summary of the ideas
presented; drawing clear
and well thought-out
conclusions.
a fairly detailed and
focused summary of the
ideas presented; drawing
fairly clear and well
thought-out conclusions.
a somewhat detailed and
focused summary of the
ideas presented;
providing some evidence
of conclusions.
limited detail with no
clear summary of the
ideas presented; drawing
limited conclusions.
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 to be composed of three 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 company of
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 Brunswikthe 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
Quality of writing is of a
high standard. Paragraphs
are mostly well
Quality of writing is of a
good standard. Few
grammar, spelling and
Some problems with
sentence structure and
presentation Frequent
Quality of writing is at a
very poor standard so
barely understandable.

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%
connected to each other.
Correct grammar,
spelling and punctuation.
structured. Few grammar,
spelling and punctuation
mistakes.
punctuation mistakes. grammar, punctuation
and spelling mistakes.
Use of inappropriate
language.
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 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 stands for an economic order in which the instruments of production (Land, Labour, Capital and Organization) are
owned and controlled privately and production takes place for profit(Davidson, 2017). In a capitalistic economy, the means of
production are owned by private individuals or organizations and they are free to make use of them in any manner with a view to
making profit(Frank, 2018).
A capitalist economy or capitalist system is one of the main parts of whose productive resources are engaged in capitalist industries in
which the material instruments of production are owned or hired by private persons and are operated at their orders with a view to
selling at a profit the goods or services that they help to produce (Levi-Faur, 2017). In a capitalistic society, the production and pricing
of goods and services are determined by the free market, or supply and demand, however some government regulation may occur. On
the other hand, a private owner in a capitalist system can have a monopoly on the market and prevent free competition. In the present
situation the company of JBhifi does not supports the capitalist system (Berberoglu, 2016). The onset of the latest global financial and
economic crisis has promoted the formation of a number of critical views on accounting together with the appeals for thorough
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
The assessment presents
a fairly detailed and
focused summary of the
The assessment presents
a somewhat detailed and
focused summary of the
The assessment provides
limited detail with no
clear summary of the
The assessment fails to
provide any clear
evidence of the ideas

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%
presented; drawing clear
and well thought-out
conclusions.
ideas presented; drawing
fairly clear and well
thought-out conclusions.
ideas presented;
providing some evidence
of conclusions.
ideas presented; drawing
limited conclusions.
presented; drawing no
clear conclusions.