Microsoft Word - T2 2020 MAA103 Assessment 2 instructions.docx MAA103 – Accounting for Decision Making - Trimester 2 2020 Assessment Task 2 – BDAs and Financial Statements – Individual RELEASE DATE...

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Microsoft Word - T2 2020 MAA103 Assessment 2 instructions.docx MAA103 – Accounting for Decision Making - Trimester 2 2020 Assessment Task 2 – BDAs and Financial Statements – Individual RELEASE DATE AND TIME: Week 7, Monday 31st August 2020, 5:00pm (AEST) DUE DATE AND TIME: Week 8, Monday 7th September 2020, 8:00pm (AEST) PERCENTAGE OF FINAL GRADE: 10% Description and requirements In this assignment, you have been given an ‘Unadjusted Trial Balance’ along with information regarding some outstanding balance day adjustments for a particular business. First, you need to record these adjusting entries in the ‘Journal’ and then post the entries into the various ‘Ledger’ accounts. Once completed, you will then need to manually transfer balances from the ‘Ledger’ into the ‘Adjusted Trial Balance’ to complete the ‘Income Statement’ and ‘Balance Sheet’. IMPORTANT: only the ‘Journal’, ‘Adjusted Trial Balance’, ‘Income Statement’ and ‘Balance Sheet’ are marked. However, students are encouraged to use the ‘Ledger’ to prepare adjusted closing balances to transfer to the ‘Adjusted Trial Balance’. For this assignment, all the tasks and information will be sent to you via your Deakin Student email. The email will be sent out by Monday 31st August 2020, 5:00pm (AEST). To access your student emails, simply go to www.deakin.edu.au/email and log in with your Deakin username and password. In the email, you will find TWO files, an Excel template (“MAA103 A2 {STUDENT_ID}.xlsx”) and this instructions file. Once you start working on the file you may save and go back to it as many times as you like; there is no need to complete it all in one go. Please make sure you use Microsoft Office Excel1 to complete the assignment as not doing so may results in technical errors, delays in your results, or loss of marks. Important: • Please make sure we have entered your student ID correctly for the Excel file. • When calculating any figures please round values to the closest dollar. For example, $12.49 would round to $12 and $12.50 would round to $13. • When filling out the General Journal, please use the drop-down arrow to select the appropriate account name. You will not be able to use any other account name not listed. • Please enter in dates as dd/mm/yyyy. Note that your computer settings may have it displayed differently – it is okay as long as no error message comes up. • You are not required to manually enter in any “$” symbols. • Do NOT use any copy/cut and paste as it will throw off the automatic marking. You do not need to paste additional rows in the Excel file. There is enough space to record all transactions. • If you see #REF! it means you have used cut and paste somewhere. Unless you can rectify the issue, you should download a fresh copy and start again. 1 Microsoft Office is available through the Deakin software library at http://software.deakin.edu.au/category/office- tools/. The link includes software and installation instructions for both Mac and Windows computers. Deakin students and staff have free access to Microsoft Office via Office 365 login (using your Deakin username and password). Sheet 1: Description • This worksheet contains all relevant information including balance day adjustment items and the unadjusted trial balance. • IMPORTANT: Your Student ID and Student Username should already be included here, please just check the information is correct before proceeding. • If you find an error in your Student ID, please email the teaching team. Sheet 2: Journal (marked) • In this worksheet, you will need to record the entries corresponding to the adjusting items that you have been given under the ‘Description’ tab. • Each entry must include a date, account names, and amounts in either the Dr or Cr column. • Narrations are not required and there is also no need to indent your accounts. Note that the account names must be selected from the drop-down menu. • You may leave a line in-between each transaction but you don’t have to (see below). Sheet 3: Ledger (not marked) • In this worksheet, you will need to post all the relevant adjusting journal entries. • Unadjusted trial balances have already been pre-populated. • Note that the closing balance is calculated for you automatically (see below). • IMPORTANT: ‘Ledger’ is not marked. However, students are encouraged to use the ‘Ledger’ to prepare adjusted closing balances to transfer to the ‘Adjusted Trial Balance’. Sheet 4: Adjusted Trial Balance (marked) • This sheet is empty and is not updated automatically based on your closing balances from the ‘Ledger’ worksheet. You must transfer adjusted closing balances from the ‘Ledger’ to the ‘Adjusted Trial Balance’ manually. Sheet: Income Statement (marked) • On this sheet you will need to fill out the Income Statement according to the ‘Adjusted Trial Balance’ that you have manually prepared. • You do not need to classify expenses into selling, general and administrative expenses. You can list all expenses under the Selling, General & Administrative Expenses heading. • You will need to enter in negative values (use a “-“ minus symbol) for any expenses so that the profit/loss will be calculated correctly. • All shaded cells will automatically sum the appropriate values for you. Sheet: Balance Sheet (marked) • On this sheet you will need to fill out the Classified Balance Sheet according to the ‘Adjusted Trial Balance’ Sheet you manually prepared. • All shaded in cells will automatically sum the appropriate values for you. • You will need to enter in negative values (use a “-“ minus symbol) for any “negative” accounts. Learning Outcomes This task allows you to demonstrate achievement towards the unit learning outcomes. The ULOs are aligned with specific graduate learning outcomes – that is, the skills and knowledge graduates are expected to have upon completion of their studies – and this assessment task is an important tool in determining achievement of those outcomes. If you do not demonstrate achievement of the unit learning outcomes, you will not be successful in this unit. Unit Learning Outcome (ULO) Graduate Learning Outcome (GLO) ULO 1: Describe the accounting processes and how accounting information can be effectively used for making informed business decisions. GLO1: Discipline-specific knowledge and capabilities. GLO3: Digital literacy GLO4: Critical thinking ULO 2: Explain how business transactions are analysed using the ‘accounting equation’ and how the resulting figures can assist in preparing accounting reports. ULO 3: Use visual and other technology such as spreadsheets to communicate researched information. Submission This assessment is to be submitted ONLINE into the “T2 2020 MAA103 Assignment 2 Dropbox” available on the MAA103 Cloud Deakin site as follows: This will load up a new screen where you can “Add a File”. Once you have added the file, please don’t forget to press “Submit” The Assessment Dropbox via CloudDeakin has been set up so that a new submission will replace the old one completely. Please note that you will be required to submit only ONE Microsoft Excel workbook in .XLSX format2. Please do not submit in any other file format otherwise a penalty in marks will be imposed. Please do not rename the file after you download it. You must keep a backup copy of every assignment you submit, until the marked assignment has been returned to you. In the unlikely event that one of your assignments is misplaced, you will need to submit your backup copy. Any work you submit may be checked by electronic or other means for the purposes of detecting collusion and/or plagiarism. When you submit an assignment through your CloudDeakin unit site, you will receive an email to your Deakin email address confirming that it has been submitted. You should check that you can see your assignment in the Submissions view of the Assignment Dropbox folder after upload, and check for, and keep, the email receipt for the submission. A word for Mac users. When opening the Assignment 2 file using Excel on a Mac, this message is likely to pop up. Please select “Yes” to allow Excel repair itself. Once repaired, click “Delete”. Marking and feedback Students who submit their work by the due date will receive their marks and feedback on CloudDeakin 15 working days after the submission date. Extensions Extensions will only be granted for exceptional and/or unavoidable circumstances outside the student’s control. Students seeking an extension for an assignment prior to the due date should apply directly to the Unit Chair by completing the Assignment and Online Test Extension Application Form. Requests for extensions will not be considered after Monday 7th September 2020, 8pm (AEST). Applications for special consideration after the due date must be submitted via StudentConnect. 2 You must use Excel if you are using a Mac. Assignment 2 completed using “Numbers” will not be accepted. Late submission The following marking penalties will apply if you submit an assessment task after the due date without an approved extension: 5% will be deducted from available marks for each day up to five days, and work that is submitted more than five days after the due date will not be marked and will receive 0% for the task. 'Day' means working day for paper submissions and calendar day for electronic submissions. The Unit Chair may refuse to accept a late submission where it is unreasonable or impracticable to assess the task after the due date. Calculation of the late penalty is as follows: • 1 day late: submitted after Monday 11:59pm and before Tuesday 11:59pm– 5% penalty. • 2 days late: submitted after Tuesday 11:59pm and before Wednesday 11:59pm – 10% penalty. • 3 days late: submitted after Wednesday 11:59pm and before Thursday 11:59pm – 15% penalty. • 4 days late: submitted after Thursday 11:59pm and before Friday 11:59pm – 20% penalty. • 5 days late: submitted after Friday 11:59pm and before Saturday 11:59pm – 25% penalty. • Dropbox closes on Saturday September 12th after 11:59pm (AEST). Support The Division of Student Life (see link