please make sure you follow all the instructions given in the assignment.
Charles Sturt University Subject Outline ACC566 201830 S I-2 February 2018-Version 2 Page of 21 37 Assessment item 2 Assessment Item 2 Value: 20% Due date: 08-May-2018 Return date: 30-May-2018 Submission method options Alternative submission method Task Provide APA references for all questions when you use material which you did not personally create, for all spreadsheets provide both normal and formula views with row and column headings. Use IF functions whenever appropriate. See the Spreadsheet Advice PDF, the Inventory videos and the Foot worksheet videos. Q1 Naming cells in spreadsheets (4 marks) See support.office.com/en-us/article/Define-and-use-names-in-formulas-4D0F13AC-53B7-422E-AFD2-ABD7FF379C64 (https://support.office.com/en-us/article/Define-and-use-names-in-formulas-4D0F13AC-53B7-422E-AFD2-ABD7FF379C64) Create a simple spreadsheet to demonstrate how cell references can use names. Use Sales less Expenses = Net Profit. Show both normal and formula views with row and column headings. Q2 Negative numbers (3 marks) Paste a simple spreadsheet example showing how negative numbers can be displayed in brackets. Why do accounting financial reports follow this practice? See: support.office.com/en-us/article/change-the-way-negative-numbers-are-displayed-104b47a6-8ae2-471f-8f73-c4b96e7bb146 (https://support.office.com/en-us/article/change-the-way-negative-numbers-are-displayed-104b47a6-8ae2-471f-8f73-c4b96e7bb146) Q3 Separation of data and report areas (5 marks) Why should accounting spreadsheet reports be designed with a completely separate data entry area and a separate report area? Paste a simple spreadsheet example showing normal and formula views. Q4 IF functions (5 marks) Reference a YouTube video explaining IF functions. What is an 'IF' statement (function)? Provide a simple spreadsheet accounting example showing an IF function for net profit/net loss. Q5 Periodic versus Perpetual Inventory Systems (5 marks) Does the Foot video in Interact2 Resources show Periodic or Perpetual Inventory? How can you tell? Explain the essential differences between perpetual and periodic inventory systems. Give your own examples of products/situations suited to each. (Watch the 3 videos on Inventory in Interact2 Resources). Q6 Worksheet and financial reports (12 marks) Write a (about 600 words) critically evaluating spreadsheets as a tool for accounting.business report Use Internet resources. Include a section on the advantages and disadvantages of spreadsheets. Refer to the Internet for advice on Business Report structures. Reference your sources.ALL Q7 Application of Inventory flow assumptions (10 marks) Create a manual, handwritten solution. Scan or use your phone to copy and paste an image of yourA. handwritten solution in your word file. If using a smart phone, consider using a free scanning app such as Camscanner, Office Lens or Google Drive or search for an app. Let us know which method you chose. We ask for a handwritten solution because this is the method you will use in the final exam. In the meantime, we want you to acquire spreadsheeting skills. https://support.office.com/en-us/article/Define-and-use-names-in-formulas-4D0F13AC-53B7-422E-AFD2-ABD7FF379C64 https://support.office.com/en-us/article/Define-and-use-names-in-formulas-4D0F13AC-53B7-422E-AFD2-ABD7FF379C64 https://support.office.com/en-us/article/change-the-way-negative-numbers-are-displayed-104b47a6-8ae2-471f-8f73-c4b96e7bb146 https://support.office.com/en-us/article/change-the-way-negative-numbers-are-displayed-104b47a6-8ae2-471f-8f73-c4b96e7bb146 Charles Sturt University Subject Outline ACC566 201830 S I-2 February 2018-Version 2 Page of 22 37 . Read chapter 6 Retail Inventory in your text and view the three videos on Inventory. Create aB spreadsheet. Charles Sturt University Subject Outline ACC566 201830 S I-2 February 2018-Version 2 Page of 23 37 Q8 Bank Reconciliation (10 marks) Prepare a Bank Reconciliation Statement from the following data. A. Create a manual, handwritten solution. Scan or use your phone to copy and paste an image of your handwritten solution in your word file. If using a smart phone, consider using a free scanning app such as Camscanner, Office Lens or Google Drive or search for an app. Let us know which method you chose. We ask for a handwritten solution because this is the method you will use in the final exam. In the meantime, we want you to acquire spreadsheeting skills. B. Spreadsheet. Paste the normal and formula views. Use an IF function. Then in a second version change the data and paste the normal view.ALL Q9 Journalising accounts receivable entries (6 marks) Using your text as a resource, show the journal entries needed to show sales on credit, the collection of part of the amount owing, the write off of accounts receivable, the reinstatement of an amount written off and the collection in full of the amount owing. Create your own numbers. A spreadsheet is not required. Q10 Estimating bad debts (4 marks) Contrast two different methods of estimating bad debts. Create simple examples. Q11 Computers and Accounts receivable (6 marks) Explain how computers have become essential to online retailing. Use eBay as an example. Charles Sturt University Subject Outline ACC566 201830 S I-2 February 2018-Version 2 Page of 24 37 Q12 Dishonour of a note receivable (8 marks) Write a narrative which includes a credit sale, a conversion to a Note receivable, the dishonour of the note and subsequent delayed payment. Then show the T accounts derived from your narrative. Create your own simple numbers. Q13 Work Integrated Assessment case study (12 marks) Wesfarmers Annual Report 2017 Learning Objectives: The subject you are studying is vocational. It is designed with the workplace in mind. Work integrated assessment provides opportunities for students to link theory and skills learned in a subject to a real work context. Students can use these opportunities to develop and practice the professional and academic skills they learn about in a subject or through the online environment and then be assessed on their capabilities in these simulated authentic environments. Work integrated assessment allows students to simulate and situate their learning in an authentic workplace that encourages them to explore their knowledge and apply it to practice. Integrating real world, authentic assessment tasks allows students to learn about the particular environments and culture of their chosen professions, while at the same time absorbing and practicing the skills they need to succeed. Doing these tasks can help students develop skills that can help their employability. Resources for this task include the 2017 Annual Report for Wesfarmers. Assume you are an investment advisor with accounting expertise. Present a analysingbusiness report Wesfarmers as a shareholder investment. Include in your report the range of Wesfarmers activities, sustainability issues, financial information and your own charts created from Wesfarmers data using Excel. Show these charts with the data selected by you. Show two different chart styles. Ensure you use a business report format. Include images in your report, You report will be about 600 words excluding appendices, charts and images. Find the Wesfarmers 2017 Annual Report on the web. www.wesfarmers.com.au/docs/default-source/default-document-library/2017-annual-report.pdf (https://www.wesfarmers.com.au/docs/default-source/default-document-library/2017-annual-report.pdf?sfvrsn=0) Quality of presentation of the total assignment including referencing throughout and bibliography is weighted at 10 marks. Rationale Assessment task 2 is designed to give you further opportunity to demonstrate knowledge and skills in more in-depth aspects of accounting and information systems including bank reconciliation, inventory systems, financial reports, accounting for bad debts and notes receivable, as well as concepts and the application of spreadsheet software to the presentation and solution of accounting problems. Task 2 covers the study schedule weeks 5-12 inclusive and includes the application of conceptual and technical aspects of accounting and the preparation of business financial statements, the appraisal of the use of information technology including spreadsheet software, to demonstrate business communication skills including report writing, to contextualise and evaluate accounting information for decision making, to explain the importance of ethics in accounting. In today’s business environment we need verbal skills, writing skills, numeracy skills AND digital literacy skills. All of these skills are assessed throughout this subject. The early questions in this assignment are designed to assess your digital literacy in a business/accounting environment. It is suggested that you attempt the assignment questions week by week. https://www.wesfarmers.com.au/docs/default-source/default-document-library/2017-annual-report.pdf?sfvrsn=0 Charles Sturt University Subject Outline ACC566 201830 S I-2 February 2018-Version 2 Page of 25 37 Marking criteria Your assignment will be marked as a whole with recognition being given to demonstration of knowledge, quality thinking, application of skills and critical thinking. For some questions you have a chance to demonstrate some creativity, or provide your own examples or give evidence of wider reading or to structure a spreadsheet in an innovative manner. You also need to avoid the snowballing effects of cumulative errors - that is, an error early in a practical question which carries through. Full marks are a possibility for well structured, complete, quality answers. You will be provided with a mark based on the work submitted and you will also be provided with suggested solutions or guidelines. Feedback will normally consist of the mark, specific comments and guideline solutions. To meet this level, you will attain a cumulative mark between 85%-100%. A markHigh Distinction. in this range indicates that you have met the learning outcomes for this task to an exceptional level, including skilfully applying correct analytical methods and techniques, deconstructing information and reflecting on different accounting and financial management ideas and interpretative techniques applied in management decision making and efficient allocation of business resources, and creating professional reports and spreadsheets that can be used in management decision making. This mark also indicates your assignment will: • be professionally presented with correct spelling and grammar • be the result of your original work • include complete references and acknowledgment of all sources used according to APA 6th style • be complete without any omissions • be correct • evaluate comprehensively the issues raised in the questions • provide examples where appropriate, and • comply with all spreadsheet requirements. To meet this level, you will attain a cumulative mark between 75%-84%. A mark in thisDistinction. range indicates that you have comprehensively met the learning outcomes for this task, including competently applying correct analytical methods and techniques, judging between different accounting and financial management ideas and interpretative techniques in management decision making and efficient allocation of business resources and designing reports and spreadsheets for effective use in management decision making. This mark also indicates your assignment will: • be neatly presented with very few spelling and grammatical errors, • be the result of your original work, • include references, acknowledging all sources used according to APA 6th style • be mostly complete • evaluate many of the issues raised in questions • provide examples where appropriate, and • comply with most spreadsheet requirements. To meet this level, you will attain a cumulative mark between 65%-74%. A mark in this rangeCredit. indicates that you have thoroughly met the learning outcomes for this task, including differentiating between different analytical methods and techniques to be applied, determining a course of action using accounting and financial management ideas and interpretative techniques for management decision making and efficient allocation of business resources, and assembling reports and spreadsheets for use in management decision making. This mark also indicates your assignment will: • be neatly presented with few spelling and grammatical errors • be the result of your original work • include references, acknowledging sources used according to APA 6th style • be