ACX5903 Summer Semester
Assignment 1 – Accounting Basics
企业会计代写 This assignment accounts for 15% (part A 10% and part B 5%) of the total marks for the unit. The assignment must be completed and…
Assessment marks: 企业会计代写
This assignment accounts for 15% (part A 10% and part B 5%) of the total marks for the unit. The assignment must be completed and submitted individually.
The Assignment consists of two parts. Part A must be submitted through Moodle link (under the session entitled Assignment 1). If for any unexpected circumstance cannot submit by due time, you must notify the lecturer with supporting document(s) one week in advance. To apply special consideration, please refer to here.
- Students who submit an assessment task after the due date will receive a late submission penalty of 10 per cent of the available marks in that task. Tasks submitted more than seven days after the due date will receive a mark of zero for that task. The detailed university policy is here.
- Assignment Part A must be submitted with the Faculty cover sheet attached. The cover sheet can be accessed in the Assignments section on Moodle.
The assignment’s objective is to give you experience in recording business transactions, preparing and evaluating (where appropriate) financial reports for a service business.
You will need to download a data sheet Moodle to complete the assignment.
Using the information in your data sheet, you are required to
i.use an accounting worksheet to analyse transactions and balance-day adjustments for the month’s activities, then record it in an excel worksheet. An Excel worksheet to assist you is available on Moodle;
ii.By using the analysis archived in your assignment worksheet to prepare financial statements: Income Statement, Balance Sheet, and Classified Statement of Cash Flows.
iii. Provide a short explanation on the unique features of the proprietor that you analysed.
- Use the Notes column of the Worksheet to describe the type of expense and income – this will make your preparation of the Income Statement easier;
- You may wish/need to change the column headings of the work sheet (i.e. the account names) and/or add columns;
- You must show and explain your calculation of the values of all adjusting entries. This can be provided either in the Worksheet or on separate pages;
- Formatting: ensure it fits well in an A4 page and readable at Moodle.
- The Statement of Cash Flows must be classified, i.e. cash flows must be shown in the categories of operating, investing, and financing cash flows;
- You must use the Direct Method to prepare the Statement of Cash Flows. Show all calculations;
- Round all monetary amounts to the nearest dollar;
- Since the business does not trade in products, it does not have an inventory account, and it is not necessary for the Income Statement to show Cost of Sales or Gross Profit.
PART B 企业会计代写
The skills and knowledge required by the task are relevant to those required for Part A.