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ACCY111 – Accounting Fundamentals in Society
Assessment 2, Autumn 2021
Question 1 (max. 100 words)
Clearly state the name of the company and provide the link to the report you
selected. (1 mark)
Question 2 (max. 300 words)
Analyse how your selected company disclosed the impact of COVID-19 on its
operations. Provide two (2) examples from the selected report. (5marks)
Question 3 (max. 300 words)
Provide three (3) examples of the skills accountants needed to develop during
COVID-19. (3 marks)
Grammar and referencing. (1 mark)
Question 1 I selected Sydney Airport Corporation, which is one of Australia's most critical pieces of infrastructure, serving as an international gateway, and an important part of Australia transportation network, connecting to over 90 destinations worldwide. Their mission is to provide a world-class airport experience and support the development for the benefit of Australians, while also contributing significantly to local and national economies. Here is the link for the Annual Report 2020: Protect and Rebuild - Sydney Airport Appendix 4E and 2020 Annual Report:
Question 3 Due to the impact of COVID-19, most accountants would need to upskill and extend their abilities, including both hard and soft skills. Firstly, in an uncertain pandemic climate, scenario planning is becoming more essential to a finance professional; they must be proactive in changing the business environment. To compete in today’s world, accounting professionals must be able to adapt to the development of technology and big data. For example, blockchain technology is being rapidly adopted in finance and accounting (Muldowney, 2020). Moreover, a remote working environment poses many challenges in communication, transparency, and accounting accuracy, which requires post-pandemic accountants to have a strong ability to adapt. Secondly, accountants must be able to adapt to new technology. Accountants are continuing to develop technical expertise and working on innovative methods for analysing and evaluating data to be able to share the statistics during volatile pandemic times. Since the pandemic is still occurring, accountants must be seen as business partners who can provide additional value in the form of advice or strategic insight (Muldowney, 2020). Additionally, they must be able to contextualize data to provide an integrated approach to company reporting while also mitigating financial flaws (Muldowney, 2020). Finally, sharpening communication skills, which accountants place a high value on in order to assist their colleagues or clients in surviving the COVID-19. There are some limitations of remote working that rely on technology, which can affect coordination in the COVID- outbreak. As a result, a skilled accountant can improve their communication and consulting skills, which will aid them in handling risks and gaining buy-in for solutions. Accountants must have the ability to collaborate and cooperate with executive teams, to use technology and data to identify risks and to efficiently communicate such risks to the entire company.
END OF ASSESSMENT
References (Hint: remember to reference your company report, and any other material/sources used) Sydney Airport 2020, Annual Report 2020: Protect and Rebuild , viewed 21 May 2021
International Federation of Accountants, 2020, ACCOUNTANCY SKILLS EVOLUTION: IMPACT OF COVID-19 & THE PATH FORWARD, International Federation of Accountants, viewed 21 May 2021,
Schmidl, E., 2020, ‘How accountants met the challenges of COVID19’, INTHEBLACK , viewed 22 May 2021,
Muldowney, S., 2020, ‘The accounting skills most in-demand post-pandemic’ , INTHEBLACK , viewed 21 May 2021,
