Assignment Instructions
Assignment marks: 95 | Research and referencing marks: 5 Total marks: 100
Total word limit: 7,000 words
Weighting: 50%
Your assignment should be loaded into KapLearn by 11.30 pm AEST/AEDT on the due date.
Refer to ‘Time remaining’ on the ‘Assignment’ page in KapLearn to ensure you submit your assignment by the specified due date and time.
Learning outcomes (LO) mapping Marks
LO1 Analyse superannuation structures and strategies for various client situations 25
LO2 Explain the taxation implications of superannuation strategies for contribution, withdrawal and insurance at the fund level 10
LO3 Analyse superannuation retirement income stream strategies according to their benefits, tax implications and social security treatment as they relate to different client situations 10
LO4 Formulate strategies to maximise superannuation benefits and clients’ entitlements to social security benefits and aged care 30
LO5 Discuss the advantages and disadvantages of equity release schemes as a source of retirement income 5
LO6 Design superannuation strategies in respect of divorce, bankruptcy and death benefits 5
LO7 Develop a compliant statement of advice (SOA) 10
Research and referencing 5
Total marks 100
Document classification: Confidential
Assignment details
• This assignment covers Topics 1 to 12 and accounts for 50% of your final grade.
• Marks will be awarded for research and referencing.
• Your overall mark for this assignment will be rounded to the nearest whole number.
• Word limit: Your response to the assignment tasks should not exceed 7,000 words, excluding appendices. Marks will only be awarded for your assignment response up to the word limit, plus 10% for the overall assignment. Any material written in excess of the limit will not be eligible for marks consideration, so it is important to be not only communicative but also concise and selective in the manner of your responses. Numerical tables, calculations and reference lists are not included. For more information on word counts and their rationale, go to Assessment Assignment Assessment Preparation Guide.
• Assignment structure:
– Sample Statement of Advice: You may use the sample case study and sample Statement of Advice, as a guide, to assist you in formatting your SOA in a Word document. Any use of templates, software, products recommended, and independent research must have in-text citations and be included in your reference list.
– You may refer to the broad structure of the sample statement of advice provided in Topic 8 Further resources. It is designed to illustrate minimum standards for this assignment.
– Quality of advice and recommendations: Quality of advice and recommendations are to be in your own words. Reference and cite all your sources (within the text of your answer) when quoting or using material from external sources. Include a reference list at the end of your assignment. – Please make sure you provide a reference list that adheres to the Harvard referencing style.
– Disclosures and warnings: Disclosures and warnings are mandatory. Fees must be disclosed accurately in both percentage and dollar terms and comply with ASIC regulatory guidelines on disclosures. Refer to the format contained in the sample SOA located in ‘Topic 8, Further resource 3’.
– Product disclosure statements: If you reference a PDS or other lengthy hard-copy product document in your SOA, you do not need to physically provide that document with your SOA.
– Authorisation: You are authorised to provide advice on all areas on which the clients have requested advice. Marks will be deducted if you purposely restrict your authorisation in response to an assignment.
– Appendices: Full workings must be shown for all calculations. The appendices section of the SOA should contain these calculations, including any supporting documentation, for example assumptions; tax, cash flow and any social security calculations; projections; charts; and referencing. Ensure that your appendices are correctly referenced in the body of the plan and labelled correctly. State all assumptions used in providing your answer.
– Use of software: You may use financial planning software to assist in modelling strategic options for the clients and for preparing the SOA. Please personalise the content and ensure that it is clear, concise and effective and conforms to the structural guidelines for an SOA contained within
Topic 8 and the sample SOA. Your SOA document must be formatted and presented in a professional manner that would be appropriate to provide to a client.
If you use software, please ensure that you include in the reference list the software provider name, software version number, Licensee Name and Licensee Number.
– Example reference list
insert software name insert year insert version number , Insert Licensee name and number ,
insert name of software provider
Xplan 2021 v12, ABCFinplanning lic: 123451, Iress Ltd.
• Mark allocations: Mark allocations are noted beside each part of the SOA in the Criteria-Based Marking Guide. Use these allocations to assist with your allocation of time and resources. The weightings indicate the relative importance of each section.
• Marks will be deducted if content provided, such as an adviser’s name, practice name and licensee details, is not properly reflected in the SOA. Do not use your real name or your employer’s name. For this case study, you are a senior financial planner and principal of All Out Financial Planning, a boutique financial planning practice licensed by ABC Financial Solutions Pty Ltd (AFSL 222222).
• Refer to the Criteria-Based Marking Guide for guidelines on what is expected for each question.
• State all assumptions used in providing your answer.
Policies
• The overall word limit for the assignment is 7,000 words. Marks will only be awarded for answers up to the word limit (plus 10%) for the overall assignment. Any material written after this will not be counted towards your mark for that question. Headings, quotes and references within the body of the answer are included in the word count. Numerical tables, calculations, and reference lists are not included. For more information on word counts and their rationale, go to Assessment Assignment Assessment Preparation Guide.
• The Assessment Preparation Guide contains information about format and presentation, word limits, citations and referencing, collusion, plagiarism and other policies, useful resources, submitting your assignment and accessing your results.
• Answers are to be in your own words. Reference and cite all your sources (within the text of your answer) when quoting or using material from external sources. Include a reference list at the end of your assignment.
• Follow the Harvard referencing style as recommended in Kaplan Australia: Harvard Referencing Guide located on the ‘Referencing and Research’ page in the ‘Build Your Skills’ hub in KapLearn.
• Requests for special consideration or information pertaining to special consideration written in the body of the assignment will not be considered by the assessor. Refer to the
‘special consideration’ section of the Assessment Policy on Kaplan’s website for more information.
Assignment research and referencing (5 marks)
Your assignment should be presented in a clear and appropriate format, with all sources correctly referenced and cited.
You are required to:
• structure a clear response to each question, using headings if required
• ensure tables or graphs are clearly labelled and readable
• clearly set out calculations or workings, where they are required
• adhere to the assignment word limit
• follow the Harvard referencing style as recommended in Kaplan Australia: Harvard Referencing Guide (available from the ‘Build Your Skills’ hub in KapLearn) to cite sources throughout your assignment, and provide a reference list at the end.
Criteria-Based Marking Guide for research and referencing
The Criteria-Based Marking Guide (CBMG) provided at the end of each question is designed to assist you to understand what is expected of you in each question and to let you know how your performance will be judged. It provides advice about the criteria used in the marking of the question and what discriminates between an excellent, satisfactory and unsatisfactory answer.
The below CBMG outlines the expectations for presentation and referencing in this assignment.
1. Research and referencing
Excellent Satisfactory
• clear and appropriate assignment layout and structure
• clear evidence of independent research and analysis throughout assignment
• appropriate use of referencing
• accurate use of Harvard referencing style
• comprehensive reference list provided • adequate assignment layout and structure
• some evidence of independent research and analysis
• appropriate use of referencing
• use of Harvard referencing style
• reference list provided
(Range: 4–5 marks) (Range: 2.5–3.5 marks)
• compliant and clear presentation, and appropriate and clear wording to reflect all essential elements
• cover sheet includes full details of minimum requirements
• full distinct warnings and disclosures provided
• clear, valid and compliant explanation of basis for recommendations • compliant and appropriate wording to reflect all essential elements
• cover sheet includes adequate details of minimum requirements
• adequate warnings and disclosures provided
• adequate and compliant explanation of basis for recommendations
(Range: 7–10 marks) (Range: 5.0–6.5 marks)
Unsatisfactory
• poor assignment layout and/or structure
• assignment is significantly under or over the word limit
• no demonstrated independent research or analysis
• no use of references
• referencing does not use
Harvard referencing style
• no or inadequate reference list provided
(Range: 5 marks)
(Range: 0–2.0 marks)
2. Compliance
• non-compliant and incorrect details and insufficient/missing essential elements
• no cover sheet or it includes inadequate details of minimum requirements
• few or no clear warnings or disclosures provided
• insufficient or invalid explanation of basis for recommendations
(Range: 10 marks)
(Range: 0–4.5 marks)
3. Executive summary/ summary of recommendations
Excellent Satisfactory
• excellent and concise summary
• concise inclusion and coverage of essential elements pertinent to client SOA • adequate summary in length
• essential elements of client SOA covered
(Range: 6.5–8 marks) (Range: 4–6 marks)
accurate, clear and complete description of client’s personal details and present position clearly based on most key valid elements adequate description of client’s personal details and present position sufficiently based on many key valid elements
• clearly matched to client’s expectations
• clear, accurate and realistic identification of financial objectives clearly based on client’s financial position • adequately matched to client’s expectations
• adequate plausible identification of financial objectives adequately based on client’s financial position
• logical, specific and clearly justifiable assumptions clearly based on key elements • adequate and justifiable assumptions adequately based on key elements
(Range: 10.5–13 marks) (Range: 6.5–10 marks)
• logical advice on asset allocation which clearly aligns with client risk profile
• advice based on comparison of existing asset investment • adequate advice on asset allocation which adequately aligns with client risk profile
• advice adequately based on comparison of existing asset investment
(Range: 4–5 marks) (Range: 2.5–3.5 marks)
• plan clearly meets client requests
• plan clearly addresses all goals and objectives or reasonably explains why not
• post-implementation analysis clearly connects to recommendations • plan clearly meets client requests
• plan addresses most goals and objectives and/or offers some reasonable explanations why not
• post-implementation analysis mostly connects to recommendations
(Range: 4–5 marks) (Range: 2.5–3.5 marks)
• summary is wordy and not concise
• inadequately covers essential elements pertinent to client SOA
(Range: 8 marks)
(Range: 0–3.5 marks)
4. Present position/ information about client
invalid, unclear or incomplete description of client’s personal details and present position insufficiently based on key valid elements
5. Financial objectives
• poorly matched to client’s expectations
• invalid or incomplete identification of financial objectives inadequately based on client’s financial position
6. Assumptions
• illogical, unclear assumptions with little or no basis on key elements
(Range: 13 marks)
(Range: 0–6 marks)
7. Risk profile and asset allocation
• poor advice on asset allocation with little or no alignment with client risk profile
• advice inadequately and insufficiently based on comparison of existing asset investment
(Range: 5 marks)
(Range: 0–2.0 marks)
8. Plan thought through and meets goals
• plan does not meet all client requests
• plan does not address all goals and objectives nor reasonably explains why not
• post-implementation analysis does not or only
partially connects to recommendations
(Range: 5 marks)
(Range: 0–2.0 marks)
9. Quality of advice and
recommendations
Excellent Satisfactory
• high-quality advice provided, specifically relevant to client questions within the SOA
• advice clearly and skilfully integrates specific information about client situation and consideration of key issues
• logical, strategic and thoroughly reasoned plan which clearly considers
effects of
recommendations
• plan clearly aligns with client goals • adequate quality advice provided which applies to client questions within the SOA
• advice adequately applies information about client situation and some consideration of key issues
• adequately reasoned plan which sufficiently considers effects of recommendations
• plan adequately aligns with client goals
(Range: 30–40 marks) (Range: 20.0–29.5 marks)
• comprehensive explanation of the need and justification for service
• implementation schedule, including all relevant steps
• comprehensive note about maintaining the SOA
• all fees and costs disclosed fully
• appropriate authority to proceed with all relevant information
• all appropriate warnings included • adequate explanation of the need and justification for service
• implementation schedule, some steps included
• adequate note about maintaining the SOA
• some fees and costs disclosed fully
• adequate authority to proceed with some relevant information
• some appropriate warnings
(Range: 3–4 marks) (Range: 2–2.5 marks)
• poor advice provided with little or no relevance to
client questions within the SOA
• advice has little or no application to information about client situation and/or consideration of key issues
• poorly thought through plan which inadequately considers effects of recommendations
• plan has little or no clear alignment with client goals
(Range: 40 marks)
(Range: 0–19.5 marks)
10. Ongoing service and review
• inadequate/no explanation of the need and justification for service
• implementation schedule with minimal/no steps included
• inadequate/no note about maintaining the SOA
• no fees and costs disclosed fully
• inadequate authority to proceed
• minimal/no appropriate warnings
(Range: 4 marks)
(Range: 0–1.5 marks)
11. Overall SOA structure and
presentation of
SOA
Excellent Satisfactory
• SOA is logical, easy to follow and well structured, and would be understood and valued by the client
• essential sections
(e.g. cover sheet, table of contents etc.) are included
• material within sections is clear and complete
• any tables or diagrams are clear and easy to understand
• any supporting material is essential to understanding the plan and referenced within the plan • SOA is reasonably well structured and would be useful to the client. Some aspects lacking clear communication
• essential sections
(e.g. cover sheet, table of contents etc.) are mostly included
• material within sections is mostly adequate and complete
• any tables or diagrams are clear and easy to understand with minor errors
• any supporting material is useful to understanding the plan and referenced within the plan
(Range: 7–10 marks) (Range: 5–6.5 marks)
• SOA is poorly structured and would be confusing to
the client. Lacking in its communication of important issues
• essential sections
(e.g. cover sheet, table of contents etc.) are not included
• material within sections is inadequate and incomplete
• any tables or diagrams are incomplete, unclear and confusing
• any supporting material is incomplete, irrelevant or incorrect with little or no correct referencing
(Range: 10 marks)
(Range: 0–4.5 marks)
Assignment background
The assignment for FPC003 consists of one (1) case study. You are to analyse the quantitative and qualitative information provided about clients Paul and Sandra McCann and produce a statement of advice (SOA). The SOA must address the McCanns’ goals and objectives and incorporate the responses to various questions they have posed to you as their adviser.
Refer to Topic 8 and the sample SOA in the online resources for guidance on the structure and format of your SOA.
You are required to address all the questions and key retirement issues raised by the client below.
Clarity and conciseness in the articulation of your responses are important, with any explanations to be easily understood by the clients.
Marks are awarded for assignment research and referencing.
Please note that you must reference your SOA, for referencing instructions refer to your Assignment Details section.
Assignment questions
Scope of advice
Your task is to:
1. Examine the clients’ stated goals and objectives for each of the following questions, issues they have raised and, after analysis, consider appropriate responses.
The questions and issues raised by the clients are important in the development of appropriate strategies you believe the clients should be considering. Those questions to which the clients require a specific response should be addressed in your SOA. All goals, issues and directions raised by the clients form the agreed scope of your advice to the McCann family.
2. Complete an SOA that incorporates, in a coordinated and communicative way, the strategies the clients should be adopting and suitable responses to each of the questions the clients want you to address. Your SOA should also conform to the content and structure of an SOA and its component parts as described in Topic 8 and the sample SOA, which can be found in the online resources for Topic 8.
The following questions and issues raised by Paul and Sandra are designed as prompts to help you consider the key issues. A number of assumptions are required. These assumptions should be incorporated into your responses and the SOA.
Key retirement issues
• When they retire, when Paul reaches age 62, they estimate they will require $65,000 per year in today’s dollars, excluding the cost of holidays every second year estimated at $15,000. They want your advice as to whether this is realistic and achievable, and what strategies they should be undertaking now to achieve this important financial goal, and why.
They have noticed that their superannuation funds offer retirement income streams in the form of account-based pensions. They would like to know how they work and whether they are something to consider in retirement.
In addressing these key retirement issues, the McCann family have also raised the following related questions and issues which they want you to address in your written advice:
• Should they be looking to establish an SMSF and what are the pros and cons of doing so? How could an SMSF assist them in accumulating wealth for their retirement, particularly if they wanted to purchase more property? What can an SMSF do that their current funds cannot?
• What is your view of Paul and Sandra continuing to invest in residential property, coupled with negative gearing, to build wealth for retirement? Additionally, what options should they be considering with their residential investment properties given their poor performance?
What are the pros and cons of purchasing a Perth property to live in compared to renting? Do you have a view as to what they should do?
Paul and Sandra have heard that there would be no capital gains tax (CGT) if they rent out the family home for a short period, and they would like you to explain the current rules about this.
• Paul and Sandra are not aware of superannuation beneficiary nominations and have not nominated any beneficiaries to their superannuation. What are they and what should they do about them, if anything?
• Paul has requested your advice on a suitable superannuation fund that can accept his rollover benefits, and employer and voluntary contributions. He also wants to know what he should do with his redundancy package.
• Sandra wishes to build her superannuation for retirement after hearing on the local radio about the importance of saving for retirement. When she starts her new job, she would like to invest more in superannuation and would like you to advise her on how much she should contribute. Should she continue to use CareSuper as her principal superannuation fund?
• In regard to Paul’s and Sandra’s life insurance arrangements, they want you to address their precise insurance strategies needs at a later time. However, as they have policies both inside and outside superannuation, what are the issues they need to be aware of with each option? Is it more advantageous to incorporate all the policies they need through their superannuation funds?
Florence’s aged care requirements
• Florence (Sandra’s mother) has granted Sandra enduring power of attorney. You met Florence when she accompanied Paul and Sandra to the first appointment. You have established that Florence is happy for Sandra to act on her behalf.
Paul, Sandra and Florence want your advice on aged care and Florence’s cash flow when she moves to the aged care facility. They would like to know how the fee would be calculated, the implications for her age pension and how she should fund the refundable accommodation deposit. They also want to know approximately how much age pension Florence will get once she enters the facility.
Case study: Paul and Sandra McCann
You are a financial adviser and principal of All Out Financial Planning, a boutique financial planning practice licensed by ABC Financial Solutions Pty Ltd (AFSL 222222).
You first met Paul and Sandra McCann two months ago when they were referred to you by an existing client. At that meeting you completed a data collection form and the clients provided you with copies of the following:
• current superannuation statement for both partners
• tax return for the previous financial year (2020/21) for each of them
• bank statement of loans and savings.
The clients have requested that you prepare a statement of advice (SOA) which addresses their goals and objectives and each of the questions they have raised as outlined in the following ‘Scope of advice’.
They have confirmed that the following information collected through a comprehensive fact find is accurate and still relevant.
Personal details
Family name McCann McCann
Given name Paul Sandra
Marital status Married
Home address 1 Baker Ave, Wollongong NSW 2500
Contact number 0416 000 001 0416 000 002
Current age 53 51
Health Good Good
Smoker Stopped smoking 18 months ago No
Expected retirement age 62 When Paul retires
Dependant details
Name Jackson Maddison
Age 15 13
Remarks Still at school Still at school Once the children have completed their schooling, Paul and Sandra will continue to support them, if needed, up to $10,000 per year each, up to age 24
Employment details
Paul Current position as a senior risk and safety engineer at BlueScope Steel, Wollongong, NSW, finishing in two weeks’ time.
Commences new position as site engineer at Desert Port Corporation, WA, in two months’ time.
Sandra Stay-at-home parent currently but has accepted a part-time position with a publishing company in Perth, Book Press, and will start in three months’ time.
Background
Paul and Sandra have been married for over 25 years. Paul has always been the main income earner as Sandra chose to leave her job as a librarian some years ago to be the primary carer for their children.
Paul has been working as an engineer at BlueScope Steel for the last 26 years and has recently been offered a voluntary redundancy as part of a major restructure. His total redundancy benefit will be $175,000 after tax.
Fortunately, he was offered an ongoing contract as site engineer for Desert Port Corporation in
Western Australia, with the same total package that he is on now ($195,000 plus superannuation of 10%), which he has accepted. The family will soon move to Perth and Paul will start his new role in about two months’ time.
Sandra is looking forward to returning to the workforce and has found a part-time role in Perth with a publishing company, Book Press Pty Ltd. She confirmed she will start her new job in about three months’ time and will earn $52,000 p.a. plus superannuation of 10%.
Paul and Sandra plan to rent initially at an estimated cost of $650 per week. They have approached an agent to purchase a property in Perth as they would prefer to own a property rather than rent.
Paul will fly-in fly-out (FIFO) to the Pilbara region. He is required to work for 10 days and then has six days off. The company will bear all his flying and living expenses in the Pilbara region.
The family home in Wollongong will be rented out at an expected gross rental of $600 per week.
Attitude to investing — risk profile
Following the completion of a comprehensive risk tolerance questionnaire and subsequent discussions with you, Paul and Sandra have agreed with your conclusion that Paul is a ‘growth’ profile investor and Sandra a ‘balanced’ profile investor.
Assets and liabilities
Paul Sandra Joint Loan
St.George Bank online account $150,000
St.George Bank savings account $8,000
Colonial First State Index Australian Share Fund $31,000
BlueScope Steel superannuation fund (balanced profile) $370,000
CareSuper Industry Fund — conservative balanced option $43,000
Industrial property — Brisbane $445,000 $340,000
Investment property — Gold Coast: Unit 1 $155,000 $135,000
Investment property — Gold Coast: Unit 2 $245,000 $205,000
Wollongong — family home $685,000 $217,000
Car $25,000
Home contents (insured value) $65,000
Estimated annual gross income details
Paul Sandra
Gross salary income $195,000 $52,000
Gross rental income** $53,400 $15,600
Interest income^ $2,500 $2,500
Managed fund income## $1,550
Total $250,900 $71,650
** Rental income of 4 × properties including Wollongong home.
^ Interest income from online savings account.
## 5% income excluding fully franked credits.
Annual expenses — joint
Annual rent $33,800 Expected rent in Perth (annualised)
Annual living $42,000
Holidays $10,000
Deductible outgoings (i.e. interest) $44,000 4 × rental properties including family home to be rented (interest-only repayments)
Children’s education $20,000
Life insurance (held outside super) $5,200
Motor vehicle costs $3,000
Total $158,000
Paul’s redundancy
Paul has advised that the after-tax $175,000 redundancy payment will be added to the joint online savings account as above when he finishes.
Paul’s superannuation
Paul’s superannuation is with the BlueScope Steel Employer Fund. Its current value is $370,000 (tax-free component is $22,000 and taxed component is $348,000).
Sandra’s superannuation
Sandra has a smaller superannuation balance of $43,000 in CareSuper Industry Fund — conservative balanced option (all taxed component). These benefits were rolled over to CareSuper when she gave up work. She has not made any further contributions.
Investment properties
The investment properties were purchased over an 18-month period across 2014 and 2015.
Both residential investment units on the Gold Coast are now valued below their original purchase price including costs. Original purchase price plus costs of the properties are as follows:
• Gold Coast (unit 1): $159,000
• Gold Coast (unit 2): $268,000
• Brisbane industrial property: $385,000
• Wollongong family home: $310,000.
Paul has read some books on building wealth through property investments and has attended a few investment seminars which have recommended negative gearing into property. He was told his property investments could double in seven to ten years, but he is very concerned now that both his Gold Coast units are valued below their purchase price. He is uncertain about what to do with these properties, though he finds that overall, after negative gearing is calculated, he gets a tax advantage.
Paul said he is interested in exploring the establishment of a self-managed superannuation fund (SMSF) as he has read you can borrow through an SMSF to buy property.
Paul’s and Sandra’s insurances
Paul and Sandra have clearly stated that although they will require a review of their life insurance requirements, they do not want you to address this area in your SOA. They want you to address this separately, at a later time.
However, they do want you to address some preliminary questions they have relating to the ownership and workings of life insurance policies.
Their respective superannuation statements show that Paul and Sandra have basic life and total and permanent disability (TPD) cover. They have said they both hold other life insurance policies outside of the policies in their superannuation funds.
Estate planning
Both Paul and Sandra have simple wills that were drawn up when they bought the family home in Wollongong 15 years ago. They leave everything in individual names to each other in their wills. They do not have powers of attorney, nor have they completed beneficiary nomination elections with their respective superannuation funds.
Paul and Sandra’s retirement plans
Paul plans to work for at least a further nine years and hopefully build enough wealth to then retire. Sandra plans to retire at the same time as Paul.
When they retire, they have estimated, given no debt, they will need $65,000 per year in today’s dollars, excluding major holidays, which they plan to take every second year at a cost of $15,000 in today’s dollars. Their wish at this stage is to retire in Wollongong or near the south coast of New South Wales.
Sandra’s mother Florence — aged care considerations
Paul and Sandra also mentioned that Sandra’s mother, Florence, aged 78, who is living in their granny flat (non-homeowner) in Wollongong has, because of illness, been recently assessed by an aged care team who has granted approval for her to move into an aged care facility.
Florence’s only investment is $380,000 in cash and term deposits with her bank. She receives a part age pension. Paul, Sandra and Florence have selected a church-operated facility in Wollongong which
Florence feels comfortable with. It has a published price for a refundable accommodation deposit of $240,000 (which she will pay in full upon entry using her cash/term deposit funds). They believe that she can live comfortably on an income of $22,000 per year.
Sandra’s sister, who lives near Wollongong, will be able to provide support to Florence while Paul and Sandra are living in Perth.
Ready to submit?
I have added my Student No. and word count to my assignment.
• I have saved the file to be uploaded as: StudentNo_FPC003_AS_v11A1.
• My assignment is within the word limit and adheres to the guidelines in the Assessment Preparation Guide.
• My assignment file size is no larger than 20 MB.
• If tables were required, they are visible as text, not as links or images.
• I have shown all workings and calculations as instructed.
• I have referenced and cited all source materials using the Harvard referencing style and, included a reference list at the end of my assignment.
• I have submitted my assignment as one (1) Word file or PDF file as per the instructions in KapLearn.