Reflective Assignment.

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Added on  2022/10/01

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Company AGL Part B (4%) of the assessment requires students to submit a reflective report on the key contents and ideas learned in week 4 and 5. The detailed information regarding the topic will be uploaded on Canvas by week 3. The report is to be submitted in week 9 (2nd October 2019). You are to provide a printed copy of your report to your tutor at the beginning of your tutorial. You must also submit a soft copy of your report via the Assignment Drop Box on the Canvas site by 11:55 pm on the day of your tutorial. A 30% penalty will apply for not complying with one or more of the above submission requirements. The assessment must be completed individually. The word limit is 400 words. Marks will be awarded for your ability to (a) discuss and express your observations about what you have learned in this unit, (b) demonstrate how various theories are supported or contradicted in the real world, and discuss how these events made you feel (thoughts, feelings, perceptions), (c) commu

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Reflective Assignment
The core of earning management was learned during the course. Further, I also got to know
about the acts done by organizations to manage earnings. I enhanced my knowledge about
different techniques of earning management which comprises Income smoothing, Big bath
write-offs, real activities management and choice of accounting policy and accrual
accounting . I evaluated corporate governance statement of AGL Energy Ltd and assessed
that the corporate governance framework, policies and procedures of company represent high
standard of corporate governance. Depreciation accounting, which is part of earning
management, is supported theory to real world. As it is one of the significant expenditure due
to which cost of an asset can be claimed as expense along with any wear and tear relating to
asset. I learned the concept of conservatism deeply, and same can be applied in accounting of
service revenue, advertising and marketing cost, inventory and accounts receivable. Income
smoothing and Big Bath write off are the techniques assisted me in ascertaining the manner
in which these techniques are applied by the management to hide the exact details relating to
financial operations of company. As income smoothing technique is applied to hide the actual
fluctuation in case management assesses that the performance of future years may fluctuate.
Further, Big Bath write off method is applied when there is change in management and assets
or operational units are required to be written off, outgoing management is blamed for same.
I also got to know that the impact of these impacts can be reduced through effective corporate
governance mechanism.
In the case of AGL Energy Ltd reviewing and approving strategies are applied in order to
initiate significant plans of organization. Further, the independence of each non-executive
director is assessed through the financial year. Even materiality is assessed on case to case
basis through application of general materiality threshold so that appropriate decision can be
taken. The board consist appropriate mix of skills which enable the management to attain
strategic objectives and minimize earning manipulation. The company consist nomination
committee, Safety, Sustainability & Corporate Responsibility Committee, Audit & Risk
Management Committee and People & Performance Committee so that corporate governance
could be strengthened and accountability and positive culture could be sustained in
organization. There are no indications of earning manipulations in case of AGL Energy Ltd
to be undertaken in future as all the four committees are effectively performing their
obligation under its Charter.

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