Unit 21 Financial Reporting (R/618/5068) Assignment Brief 2026 | Pearson

Unit 21 Financial Reporting Assignment Brief

Submission Format

The submission is in the form of an individual written report.  You are required to make use of headings, paragraphs, and subsections as appropriate. Your report should be written in a concise, formal business style using 1.5 spacing, type face in Times new roman or Arial and font size 12.

A bibliography should be provided using the Harvard referencing system. Inaccurate use of referencing may lead to issues of plagiarism if not applied correctly.

You are advised to write between 3,500 to 4,000 words and the word limit is 4,000 words. This word limit does not include the contents page, the organization profile, tables, diagrams, appendices or references.

Unit Learning Outcomes

LO1 Analyze the context and purpose of financial reporting for high-performing organizations.

LO2 Evaluate regulatory frameworks for financial reporting

LO3 Prepare financial statements for an incorporated organization to meet legal requirements and business objectives.

LO4 Interpret financial statements of an incorporated organization to achieve performance metrics.

Transferable skills and competencies developed

Developing appropriate research skills and skills of critical enquiry to enable the evaluation of different approaches to problem solving in a specific business context.

Competently using digital literacy to access a broad range of research sources, data and information.

Communicating confidently and effectively, orally and in writing, both internally and externally with businesses and other stakeholders.

Developing specific competences and skills required in a specialist business sector through the completion of specialist pathways and progression routes.

Developing a range of skills to ensure effective teamworking, independent initiatives, organisational competence and problem-solving strategies.

Reflecting adaptability and flexibility in approach to business; showing resilience under pressure and meeting challenging targets within given deadlines.

Using quantitative skills to manipulate data, evaluate and verify existing theory.

Vocational Scenario

Organisation:

EY Vietnam is a member firm of Ernst & Young Global Limited (EY), one of the world’s leading organizations providing assurance, tax, consulting, and advisory services. Established in 1992, EY Vietnam has grown to become one of the largest professional service firms in the country. EY Vietnam operates with offices in Hanoi and Ho Chi Minh City, delivering professional services tailored to both Vietnamese and international clients across a wide range of industries.

You are a junior auditor of EY Vietnam. Your line manager has asked you to prepare a business report for presentation to a group of international business investors who are concerned about the proliferation of accounting scandals relating to international firms that have been in the news. Members of the group are anxious to understand the context and purpose of financial reporting as well as its regulatory framework.

You are also expected to prepare financial statements of the client to meet legal requirements and use those financial statements to calculate appropriate ratios using Excel. You are to present your analysis of the company’s performance based on the ratio analysis. To enhance your understanding of financial statements and regulatory frameworks of financial reporting, as well as to improve your oral and problem solving skill, you are required to participate in talent management contest organized by ISBA.

The report should include the following:

1. Prepare financial statements for a limited company in line with IFRS regulations and standards, including adjustments and capital structure.
2. Compare differences and similarities between financial statements for incorporated and unincorporated organisations.
3. Calculate and present financial ratios, interpreting the company’s financial statements in meeting performance benchmark.
4. Critically evaluate the financial statements of the company, making recommendations on how the organisation can improve effectiveness and efficiency in their operating environments.

Assignment Activity and Guidance

Your report must include the following sections:

1. Analyse the context and purpose of financial reporting for successful outcomes and high organisational performance: You should explain the context of financial reporting and purpose of financial reporting and give examples to support your opinion.
2. Critically analyse the context and purpose of financial reporting in meeting different stakeholder needs and expectations for the successful organisation: You should explain main types of stakeholders of a business, the information needs of different stakeholders and how context and purpose of FR could help to satisfy the stakeholder’s needs.
3. Make justified recommendations for improving financial reporting and performance: You should analyse a case study about an accounting scandal and analyse details on the fraudulences or an example where there is conflict of accounting concepts and make recommendations for improving financial reporting and performance.
4. Examine the purpose and significance of regulatory frameworks for organisational financial reporting: You should present regulatory frameworks of financial reporting: conceptual framework, company acts, accounting standards….and examine the purposes and significance of regulatory frameworks for financial reporting.
5. Consider the benefits and disadvantages of IFRS over a national regulatory framework: You should consider the benefits and disadvantage of IFRS over a national regulatory framework with illustrative example of certain countries.
6. Critically evaluate the impact of regulatory frameworks on the organisation in its operating environments to meet objectives and deliver on strategies: You should consider the positive and negative impacts of regulatory framework on a certain organisation to meet company’s objectives.
7. Justify recommendations for ways in which the organisation and key stakeholders can successfully respond to regulatory frameworks in complex operating environments: You should recognize the complexity and innovation in Vietnamese business environments and make suitable recommendations with evidence supporting for the opinions.
8. Prepare financial statements for a limited company in line with IFRS regulations and standards: You should show your understanding of financial statements for a limited company basically in line with IFRS with minor errors: you should suppose 3 transactions happening in the business but has not been recorded, analyse how they affect to financial statements and then prepare adjusted financial statements.
9. Compare differences and similarities between financial statements for incorporated and unincorporated organisations: You should address the differences and similarities between financial statements for limited company and sole trader/partnership and identify at least one factor leading to those differences/similarities.
10. Produce financial statements for a limited company, including adjustments and capital structure: You should make adjustment and produce adjusted financial statements for a limited company with appropriate presentation.
11. Calculate and present financial ratios for organisational performance and investment purposes for a limited company: Using adjusted financial statements, you should show how to calculate some financial ratios.
12. Interpret a range of limited company financial statements in meeting performance benchmarks: You should interpret the meaning of each financial ratio in meeting performance benchmarks.
13. Evaluate comparative performance and investment potential of limited companies, using a range of ratios and relevant benchmarks: You should make comparison with sector’s benchmarks and evaluate company’s performance and investment potential using ratio analysis.
14. Critically evaluate limited company financial statements, making recommendations on how organisations can improve effectiveness and efficiency in their operating environments: You should evaluate the limitations of ratio analysis and make recommendations to improve effectiveness and efficiency for the company using appropriate techniques.

Learning Outcomes and Assessment Criteria

Answer

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