ACCT11081 Annual Reports 财务会计 assignment 代写

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ACCT11081 INTRODUCTORY FINANCIAL ACCOUNTING

ASSIGNMENT

DUE: 11.00am Tuesday 26 September 2017 (Week 11)

Step 1: Due 11.00am Saturday 15 July 2017 (Week 1)

Step 2: Due 11.00am Tuesday 25 July 2017 (Week 3)

Steps 3-6: Due 11.00am Tuesday 15 August 2017 (Vacation Week)

Step 6: Post draft by 5.00pm Friday 4 August 2017 (Week 4)

Step 6: Give feedback to others by 5.00pm Thursday 10 August 2017 (Week 5)

Steps 7-11: Due 11.00am Tuesday 26 September 2017 (Week 11)

Step 11: Post draft by 5.00pm Friday 15 September 2017 (Week 9)

Step 11: Give feedback to others by 5.00pm Thursday 21 September 2017 (Week 10)

Estimated (max.) time required:

Step 1: about 2 hrs

Step 2: about 3 hrs

Steps 3-6: about 16 hrs

Steps 7-11: about 26 hrs

Find Your Firm’s Annual Reports and Spreadsheet

ACCT11081 Annual Reports 财务会计 assignment 代写

The assignment for this unit is made up of eleven (11) steps. As you complete these

eleven steps, you will find your company’s annual reports and have a look at them. You

will then practice aspects of the recording process using Excel. You will also create a Trial

Balance from your company’s financial statements, and explore its Inventory and

Depreciation policies. You will also have the opportunity of creating a set of business

transactions for your company, recording these in MYOB software and producing a set

of financial statements using MYOB. As well, you will have the opportunity to experience

how interacting with others in the unit may be able to help you to better understand the

concepts we will be studying.

Introduction

It is expected everyone will have already set up your personal profile on Moodle and your

blog (which you will have done in ACCT11059 Accounting, Learning & Online

Communication). This will help others in the unit to get to know you, as we all work

together to learn and develop further our own personal insights into the world of

accounting.

If you have not done this already, you will need to set up your personal profile on Moodle

and your blog now. To do this, please follow these instructions.

ACCT11081 Introductory Financial Accounting – Assignment

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Step 1: (2 marks)

Step 1 involves you writing down some of your ideas, reflections and reactions to reading

Chapter 1 Sections 1.1 – 1.3 in the Study Guide.

Read Chapter 1 Sections 1.1 – 1.3 in the Study Guide. Read it like you would a novel or

any book, actively seeking to engage with the author (who is me) and to understand

what you are reading. What is the author trying to say? Let the author take you on a

journey: go with him and see what you think of some of the key ideas and concepts

being discussed.

And while you do this, note down key concepts that occur to you. That’s right; just write

them down as you go along. Write them in your own words. Also, include any questions

that occur to you as you are reading. What do you find confusing, difficult to

understand or believe, boring, exciting or surprising? Include some of your key

concepts and questions (KCQs) in a Word document.

Your personal engagement with the reading is what I am interested in. Do not simply

summarise the readings. I will say it again, do not simply summarise the readings. I

am interested in your reactions, understanding, and questions from the readings. I

know what the readings say, as I wrote them. So simply giving me a summary of the

readings will not be telling me anything I do not already know.

Use the words “I” and “me” in your Step 1. Different people will have different

reactions to the readings. Tell me what your reactions are. This is what I am interested

in. Do not tell me what you think I might want to hear. Be genuine and honest in your

reactions to the readings. Give me something of yourself in your Step 1.

Please allow up to about 2 hours to complete Step 1 (if you have English as your

second language, it may take you more time).

Step 2: (2 marks)

Step 2 involves you writing down some of your ideas, reflections and reactions to reading

Chapter 1 Section 1.4 and Chapter 2 in the Study Guide.

Read Chapter 1 Section 1.4 and Chapter 2 in the Study Guide. Read it like you would a

novel or any book, actively seeking to engage with the author (who is me) and to

understand what you are reading. What is the author trying to say? Let the author take

you on a journey: go with him and see what you think of some of the key ideas and

concepts being discussed.

And while you do this, note down key concepts that occur to you. That’s right; just write

them down as you go along. Write them in your own words. Also, include any questions

that occur to you as you are reading. What do you find confusing, difficult to

understand or believe, boring, exciting or surprising? Include some of your key

concepts and questions (KCQs) in a Word document.

ACCT11081 Introductory Financial Accounting – Assignment

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Your personal engagement with the reading is what I am interested in. Do not simply

summarise the readings. I will say it again, do not simply summarise the readings. I

am interested in your reactions, understanding, and questions from the readings. I

know what the readings say, as I wrote them. So simply giving me a summary of the

readings will not be telling me anything I do not already know.

Use the words “I” and “me” in your Step 2. Different people will have different

reactions to the readings. Tell me what your reactions are. This is what I am interested

in. Do not tell me what you think I might want to hear. Be genuine and honest in your

reactions to the readings. Give me something of yourself in your Step 2.

Please allow up to about 3 hours to complete Step 2 (if you have English as your

second language, it may take you more time).

Step 3: (3 marks)

Step 3 involves you identifying your own company, posting on your blog some

background information on your company and its industry, and commenting on other

people’s blogs.

Find your Firm’s Annual Report and Spreadsheet

Go to the list of companies on Moodle called ‘Find Your Company’. This will be available

in the top central panel in Moodle from 5.00pm Friday 14 July (Week 1). For those not

enrolled in our unit by then (and we should, of course, be enrolled in our units no later

than two weeks before term starts), you will need to email your Unit Coordinator,

Martin Turner at m.turner@cqu.edu.au to be allocated a company.

Find the company you have been given and click on its URL. This will take you to your

firm’s website, where you should be able to find your firm’s annual reports under the

Investors or Investor Relations section. This section might also be called Shareholders’

Information, Financial Information or something similar. For some companies, in the

‘Find Your Company’ list there is a comment in the Notes section to help you navigate

your firm’s website. Save a soft copy of the Annual Report for your firm for each of the

last three years. For example, if your firm’s latest Annual Report is for the year ended

31 December 2016, save your firm’s Annual Reports for 31 December 2016, 31

December 2015 and 31 December 2014.

Only save your firm’s Annual Reports. Do NOT save its interim or half-yearly reports;

also, do not save its concise annual reports. You can ignore these. Only save its full

Annual Reports (with its full financial statements) for each of the last three years. I also

suggest you have a quick browse through your firm’s website. This will give you some

initial insights into your firm’s operations and activities.

If you have any difficulty finding your firm’s Annual Reports, or would like to check you

have the right ones, please ask your lecturer or tutor for assistance (if you are studying

at one of our locations). If you are studying by distance, please email me (Martin Turner,

your unit co-ordinator) at m.turner@cqu.edu.au.

A key initial step for you to achieve in your Assignment is to make sure you have got

hold of your firm’s Annual Reports for the last three years. As each Annual Report will

ACCT11081 Introductory Financial Accounting – Assignment

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ACCT11081 Annual Reports 财务会计 assignment 代写

have two years of financial statements, this will mean you will have the financial

statements for your firm for the last four years. The other key thing for you to do is to

check that your firm has inventory in its balance sheet; and that it has depreciation in its

financial statements.

Note: If your firm does not have inventory or does not have depreciation in its

financial statements, please email your Unit Co-ordinator Martin Turner at

m.turner@cqu.edu.au and he will give you a new company.

Read Your Firm’s Annual Report: Identify Clearly What Your Firm Does

Carefully and thoughtfully read through your firm’s latest Annual Report. For example,

your firm’s latest Annual Report may be for the year ended 31 December 2016. While

you do this, note down key concepts and questions (KCQs) that occur to you. Identify

areas of your firm’s financial statements you are having difficulty understanding, areas

of its business that seem most important or critical to you, key challenges the firm

appears to be facing, how successful it appears to be in meeting these challenges and its

apparent strategy. Some people’s companies may have very long annual reports. There

is no need to read every word (or page) of your firm’s Annual Report. Simply seek to

gain an initial familiarity with your firm and its latest Annual Report.

Discuss your KCQs with other people in our unit, for example with those at your own

location, or online on our unit Facebook page, on the forums on Moodle, or through our

various blogs or by email. You can click on the link to our unit’s Facebook page in the

Communication box in Moodle and ask to be given access. What similarities or

differences are there between your firm and the firms of other people, and in the way

they present their financial statements? Are you happy with the firm you have been

given, or would you have preferred to be given a different company? What concerns, if

any, do you have at this stage? How have you found your firm in our unit this term,

compared to the company you had in ACCT11059 Accounting, Learning & Online

Communication? Have you found it easier, or perhaps more difficult, to read your firm’s

annual report and consider what its activities are, compared to when you read your

firm’s annual report in ACCT11059?

Know Your Firm

Find useful news articles, blogs and videos about your firm, its industry and some of the

opportunities and challenges your firm is facing. Provide links to these resources in your

Word document and on your blog. Also, comment on some other students’ blogs about

their firms. My company is Ryman Healthcare. Here are links to two videos produced by

groups of residents in two of Ryman Healthcare’s retirement villages. They are quite a

bit of fun: 80-odd Years of Happy and 80-odd Years of Disco. And they give some insights

into Ryman Healthcare’s business and customers. The first video, 80-odd Years of

Happy, has gone viral and has over 8 million views. There is also a great video on the

launch of the myRyman app in 2016; and another on the launch of a new staff uniform;

and the work that went into the design of the new uniform. What do these videos

suggest about the culture management are seeking to support at Ryman Healthcare?

Discuss with others, perhaps face-to-face (f2f), through our blogs, Facebook, Moodle

forums or email about what you learnt about each other’s firms. Also, discuss with

ACCT11081 Introductory Financial Accounting – Assignment

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others about how discussing with others helped, or did not help, you to understand

more about what your firm does and about aspects of its business performance.

Please allow up to about 4 hours to complete Step 3.

Step 4: (5 marks)

Step 4 involves you practising the recording process.

This activity aims to consolidate your understanding of the concepts we have been

studying by considering your own personal finances; and producing a basic set of

financial statements for yourself by using your bank/loan account and credit/debit

card account transactions.

First, obtain all the bank statements for each of your personal accounts (savings,

cheque, loan, credit and debit cards) for the same period (choose a reasonable

period in which the volume of transactions will not overwhelm you, for example it

might be for a period of one month). You also do not need to include all your

transactions. You only need to include those you are happy to include in your

assignment. You can also use fictitious (or partly fictitious) transactions, if you would

prefer.

Decide on what chart of accounts you wish to have (see Chapter 3, pages 82-84

Hoggett et al, 2015). Please go through each of your statements, line by line, and

‘classify’ each transaction. In this way, create your chart of accounts. For example,

assume this was your bank statement for the month of January 2017 (first three

columns). You might go through and classify each transaction as follows (fourth

column):

Date Amount ($) Transaction Details Category in my chart of accounts

1/01/2017 197.29 INTEREST 1-1 Interest Income

3/01/2017 (120.10) PAYMENT TO GMHBA LTD 2-1 Private Health Insurance Expense

3/01/2017 (17.73) PAYMENT TO InsuranceLine 2-2 Income Protection Insurance Expense

3/01/2017 (32.00) DIRECT DEBIT - DEBIT TO Virgin Mobile 2-3 Telephone Expense (mobile)

4/01/2017 981.50 DEPOSIT FROM XYZ PAY FOR 4/01/2017 1-2 Income - salary and wages

5/01/2017 (695.35) INTERNET BANKING BILLPAY TMR REG RENEW 2-4 Vehicle Expense (registration)

11/01/2017 981.50 DEPOSIT FROM XYZ PAY FOR 11/01/2017 1-2 Income - salary and wages

16/01/2017 (100.00) FUNDS TRANSFER Chinese Orphans Assis 2-5 Expense - Donations/Gifts

17/01/2017 692.75 DEPOSIT FROM ABC Pay fortnight 17/01/2017 1-2 Income - salary and wages

18/01/2017 981.50 DEPOSIT FROM XYZ PAY FOR 18/01/2017 1-2 Income - salary and wages

18/01/2017 (500.00) INTERNET BANKING BILLPAY VISA CARD 2-6 General Living Expenses (Food, fuel)

23/01/2017 (35.00) DIRECT DEBIT - DEBIT TO Virgin Mobile 2-3 Telephone Expense (mobile)

25/01/2017 981.50 DEPOSIT FROM XYZ PAY FOR 25/01/2017 1-2 Income - salary and wages

27/01/2017 (363.48) PAYMENT TO COLES MASTERCARD 2-6 General Living Expenses (Food, fuel)

27/01/2017 (197.19) PAYMENT TO 28 DEGREES CREDIT CARD 2-6 General Living Expenses (Food, fuel)

ACCT11081 Introductory Financial Accounting – Assignment

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Please use Excel to do this task.

If you have online banking, you can do the above very simply by choosing a date

range, and simply exporting this to a CSV file, which can be opened in Microsoft

Excel. You can then classify your chart of accounts in the next column.

Please note: you need to use Excel for this step, to allow you to complete the next

step, where you will be linking cells and using simple formulas in Excel.

When you have classified your transactions and created your chart of accounts,

please then prepare a simple Income Statement for yourself, as follows:

My Name

Income Statement

For the month ended 31 January 2017

INCOME

Interest Income 197.29

Income - salary and wages 4,618.75

TOTAL INCOME 4,816.04

EXPENSES

ACCT11081 Annual Reports 财务会计 assignment 代写

Private Health Insurance Expense 120.10

Income Protection Insurance Expense (17.73)

Telephone Expense (mobile) (67.00)

Vehicle Expense (registration) (695.35)

Expense - Donations/Gifts (200.00)

General Living Expenses (Food, fuel) (1,060.67)

TOTAL EXPENSES (2,160.85)

Profit/ (Loss) for the period 2,655.19

Note that the items listed as income and expenses are directly from your chart of

accounts. You are simply grouping each transaction by your classification.

To use Excel’s linking features, simply type ‘=’ to start a formula in the cell that you

wish to link (for example, you can link the interest figure of $197.29 in your Income

Statement directly to the bank statement figure for this interest). This is particularly

important when grouping more than one figure; for example, grouping the figures

for Income – Salary and Wages. You would begin with ‘=’ and then click on each bank

statement figure for the pays you received, pressing ‘+’ in between each, and hitting

‘Enter’ to complete the linking. Excel then automatically sums these pays as

$4,618.75. You can also enter formulas for the Profit/(Loss) for the period by typing

‘=’, then click on the TOTAL INCOME figure, and ‘+’ the TOTAL EXPENSES figure.

You can access the actual Excel file used in this exercise, which is available on

Moodle, so that you can see how the Income Statement is linked.

ACCT11081 Introductory Financial Accounting – Assignment

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Please include your Excel spreadsheet in this Step.

Also, please include your thoughts and key concepts and questions that occur to you

as you complete this process. What insights have you gained from completing the

recording process of your own personal transactions? Will this be something that

you continue and expand upon in future (for example, create your own Balance

Sheet)?

Please also describe your responses to the following questions:

a) What is the chart of accounts so far, as illustrated in this example? What is your

own chart of accounts? Is it like the one shown here? Remember, you can add to

your chart of accounts as you classify more of your own transactions.

b) What level of detail could you change in the chart of accounts shown in this

activity? Why might you want to do this?

c) How might you analyse your Income Statement? Has this exercise of recording

your transactions through to the financial statements been useful for you? If so,

why; if not, why not?

Please allow up to about 5 hours to complete Step 4.

Step 5: (6 marks)

Step 5 involves you creating a Trial Balance in a spreadsheet, using your company’s

financial statements.

Please read Chapter 3 (pages 87; 105-107) from Hoggett et al (2015) (the textbook for

our unit) to help you to complete this Step.

You can find a template Trial Balance spreadsheet by clicking on ‘Template Spreadsheet’

link in the top centre box on Moodle.

A Trial Balance is one form of control used for the double-entry recording process; that

is, to see if ‘debits match your credits’. A trial balance is simply a listing of the chart of

accounts of an entity in terms of debits and credits (DR and CR). It is a ‘trial’ of whether

these ‘balances’ match (hence the name). It is also a convenient list of a firm’s ledger

balances that can be used to develop a firm’s financial statements.

We will be looking at the Trial Balance ‘in reverse’. In this step, you will create your

firm’s Trial Balance using your firm’s financial statements. The two main financial

statements you will be using to complete your Trial Balance are the Income Statement

and the Balance Sheet. You may also need to refer to the Statement of Changes in

Equity when checking that the profit/loss allocated to the equity section matches your

firm’s revenue less expenses. You will not need to use the Statement of Cash Flow for

this step.

Open your firm’s Trial Balance worksheet by clicking on the Trial Balance tab in your

template spreadsheet.

You will find in this worksheet some space for you to enter your firm’s Trial Balance.

Carefully enter each of the accounts from the most recent year of your company’s

ACCT11081 Introductory Financial Accounting – Assignment

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Income Statement and Balance Sheet, either under the DR or CR columns. Do this for

the most recent year only. Enter your Trial Balance accounts in the order of Assets,

Liabilities, Equity, Revenue and Expenses. Once you have successfully completed your

Trial Balance, your DR and CR column total figures should be the same (i.e. ‘balance’).

Tip: Your firm’s financial statements may be called a range of different names,

such as Consolidated Statement of Financial Position (which is your firm’s

Balance Sheet) and Consolidated Statement of Financial Performance (which

is your firm’s Income Statement).

Tip: We use our firm’s consolidated or group accounts; not its parent or company

accounts.

Sit back and reflect on what you have just completed. Discuss with others, perhaps face-

to-face (f2f), through our blogs, our unit Facebook page, Moodle forums or email, about

what you have learnt by doing a Trial Balance for your firm. Also, discuss with others

about how your firm’s financial statements link together. In your Word document,

include your reflections and your comments about what you gained (or did not gain)

from your discussions with others.

Please allow up to about 5 hours to complete Step 5.

Step 6 (2 marks)

Step 6 involves you providing (and receiving) feedback to three other students in our unit

on their draft ASS Steps 3-5.

The main benefit for you of Step 6 is in giving quality and thoughtful feedback to others

in our unit. The process of thinking about the feedback you give to others will help you

greatly with your own assignment as you think about what the assignment requires and

how others have addressed these requirements for their own companies.

Prior to 5.00pm Friday 4 August 2017 (Week 4), please:

• post draft work of your ASS Steps 3-5 on your blog;

• provide a link to your blog on the Draft ASS Steps 3-5 Feedback Forum and post

in the Draft ASS Steps 3-5 Feedback forum a comment that your draft ASS Steps

3-5 is ready for student feedback and, if you wish, specific areas where you

would particularly value feedback for your ASS Steps 3-5.

Prior to 5.00pm Thursday 10 August 2017 (Week 5), please ensure you have provided

quality feedback to at least three other students, using the Peer Feedback Sheets for

ASS Steps 3-5 (see below).

Include the feedback you have given to at least three other students in the unit in your

ASS Steps 3-5. Also, include and/or comment on any feedback others may have given

you on your draft ASS Steps 3-5.

Also, comment in your Step 6 whether you found feedback from other students useful

and why this was, or was not, the case. You can include in your discussion both how

useful (or not) you found feedback you received from other students through your

ACCT11081 Introductory Financial Accounting – Assignment

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interactions with them f2f, on discussion forums, Facebook, on our blogs and through

other means.

Please allow up to about 2 hours to complete Step 6.

Please submit your ASS Steps 3–6 as a Word document and Excel spreadsheet.

PEER FEEDBACK SHEET: Assignment Steps 3-5

Feedback From:

Feedback To: .

My Comments

Step 3

Background information on company

Comments/KCQs

Discussion with others

Step 4

The recording process

Step 5

Trial balance

Discussion

Overall

Note: Please use this sheet as a guide. There is no need to provide feedback on each step of the

Assignment. For example, someone may have little or no draft work completed for one or more

of the steps prior to asking for your feedback.

ACCT11081 Introductory Financial Accounting – Assignment

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Step 7: (5 marks)

Step 7 involves you exploring the inventory practices of your firm.

Please read Chapter 6 (page 236) and Chapter 19 (pages 802-829) from Hoggett et al

(2015) (the textbook for our unit) to help you complete this Step.

Inventory often forms a significant part of a firm’s business (although not all firms have

inventory; for example, Ryman Healthcare does not have any inventory). Go to your

firm’s annual reports that you downloaded as part of Step 3. Open each soft copy file

and search for where ‘inventory’ is referred to. You may find your document has a

search function. You can also find comments on inventory in the notes to your firm’s

financial statements. Read these comments to get a feel for how your company

manages its inventory. Make sure that you do this for EACH year for which you have

downloaded an annual report.

As you are doing this, write down the key concepts that you find interesting, and

whether they relate to each year or just one year. You will find specific information

about your firm’s inventory policies as part of the detailed notes to the financial

statements. Note the figures for Inventory for your firm. Are they large or small

numbers? What do these figures mean? You might find that your firm’s note on

inventory contains key terms such as Raw Materials, Work in Progress, Finished Goods,

Net Realisable Value. (see Chapter 8 p.346, Hoggett et al, 2015 - the textbook for our

unit).

What does your firm disclose (and not disclose) about its inventory? Has your firm

changed its inventory practices over the years that you are reviewing? If so, why? How

might this have affected your firm’s financial statements? What type of inventory

system does it use (perpetual or periodic)? What method of inventory does it use

(weighted average, FIFO, LIFO, specific identification)? What are some of the associated

issues and costs that your firm might be facing with its inventory management? Why

might this be the case? Are there any areas where you think your firm could improve its

inventory management? How did you identify these areas? If you have had any

experience with inventory, make sure you also describe these experiences.

Please allow up to about 5 hours to complete Step 7.

Step 8: (5 marks)

Step 8 involves exposing you to a commonly used accounting software. In this step, you

will learn how to use MYOB AccountRight.

In ACCT11059 Accounting, Learning & Online Communication you were introduced

briefly to accounting systems and cloud computing. Did you know that you can ‘try-

before-you-buy’? Most computerised accounting systems will provide an option where

you can trial a version of their software for free (usually for a period up to 30 days). In

this step, we will trial MYOB software, one of the leading small business accounting

software in Australia.

Important note: You only have 30 days within which to trial MYOB for free, beginning

from the date that you download and install it onto your computer. You will need this

software to complete Steps 8 and 9 of this assignment, so please ensure you are able

ACCT11081 Introductory Financial Accounting – Assignment

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to complete both steps within 30 days from the time that you install MYOB onto your

computer.

Go to the MYOB website and click on Try FREE for 30 Days. Then, you can learn how to

use this software for free. Remember: when you set this up in your computer, you only

have 30 days to complete Steps 8 and 9.

MYOB offers tutorials for operating their products. Simply choose which product you

have downloaded for the trial version (AR AccountRight), click on the ‘Start Learning’

button and follow through the prompts. Allow about 1.5 hours for the initial training on

set up, and a further 3 hours for learning how to use the software.

As part of completing this training, take a screen shot* of your last screen/transaction in

MYOB in each of the two phases (setup and training), and include both screen shots in

your Word document as evidence you have completed the set up and training. If you do

not include two screen shots showing your completion of the set up, and completion of

the training, you will not receive marks for this aspect.

Then, go to the EzyLearn MYOB Online Training Skills Test and complete the 13-

question quiz. You have 30 minutes within which to complete the quiz; however, if you

are reasonably competent in MYOB it should take you far less time (perhaps about 10

minutes). Take a screen shot of your results (provided on screen when you complete the

13 questions) and include this in your Word document for this step. Again, if you do not

include this screen shot*, you will not receive any marks for completing the quiz.

*If you do not know how to create a screen shot, please read the Guide for how to

complete a screen shot, or the Guide to Windows Snipping, or the Guide for Mac users.

Please allow up to about 5 hours to complete Step 8.

Step 9: (8 marks)

Step 9 involves you creating a set of business transactions for your company, recording

these in MYOB, and producing a set of financial statements from MYOB.

Every day, you engage in and perform ‘transactions’. For example, filling up your car

with fuel (and paying for it) is a transaction. In your financial records, if you were to

record this transaction, it would appear as a DR to Fuel Expense and a CR to your

Cash at Bank asset (or a CR to your Credit Card Liability).

Tip: Increases in Expenses are debits; decreases in Assets (and increases in

Liabilities) are credits. See Study Guide Chapter 1, Section 1.4 on the three

things you need to memorise.

To record this transaction in MYOB, you would use the ‘Spend Money’ function in

the Banking command centre to record this transaction.

So then, you can think of transactions as the interactions between customers and

suppliers and a business. Transactions can be very simple, like our fuel example

above, or more complex. If you look up any business dictionary, you will probably get

a formal definition for a transaction such as “A transaction is an economic event that

ACCT11081 Introductory Financial Accounting – Assignment

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initiates a recording process in a business accounting system.” However, as you have

seen, even if you do not have an accounting system (and, yes, most people probably

do not keep track of their personal fuel expenses in an accounting system) you can

still be creating transactions; even if you do not record them.

In this step, you need to create a set of ten (10) hypothetical business transactions

that might be realistic for your allocated firm. Please ensure that the set of business

transactions are related to your firm’s industry and operations. You will need to

include your set of business transactions in your Word document for this Step.

Once you have created your set of business transactions, you will then need to

record them in your MYOB trial software. There are two ways in which you can

complete this: either create a NEW company file in MYOB and record them there, or

use your existing Clearwater file, and create your business transactions using dates

after the last transaction for Clearwater.

For this step, please create a NEW company file.

Using a new file will require you to completely set up again; however, your reports

will only reflect the business transactions that you created.

Once you have recorded your business transactions, you will need to export the All

Journals report to Excel and include this in your Step 9. Use the MYOB help and

tutorials, the unit Facebook page, Moodle discussion forums and/or discuss f2f with

others in our unit about how to generate this report.

You then need to generate a set of financial statements: Income Statement, Balance

Sheet, and Cash Flow Statement. Again, use the MYOB help and tutorials, the unit

Facebook page, Moodle discussion forums and/or discuss f2f with others in our unit

about how to generate these reports. Include these financial statements in your

Word document submission for this Step; either export them to Excel, and copy and

paste them into your Word document, or take a screen shot of each and include the

screen shots into your Word document.

Now we get to the exciting part. Take a good look at your financial statements. What

story do you think they are telling you? What I am interested in is YOUR interpretation

of these financial statements. What tools might you use to analyse these financials?

Why? Include (in your Word document) your analysis and discussion about the story

your financial statements are telling you about your company.

Please allow up to about 9 hours to complete Step 9.

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Step 10: (5 marks)

Step 10 involves you describing your firm’s Depreciation policies and creating

Depreciation journal entries based on your firm’s financial statements.

Please read Chapter 20 (pages 846-869) from Hoggett et al (2015) to help you complete

this step.

Go to your firm’s annual reports that you downloaded as part of Step 3. Open each soft

copy file and search for where ‘depreciation’ is referred to. You may find your document

has a search function. You can also find comments on depreciation in the notes to your

firm’s financial statements. Read these comments to get a feel for how your company

manages its inventory. Make sure that you do this for EACH year for which you have

downloaded an annual report.

ACCT11081 Annual Reports 财务会计 assignment 代写

As you are doing this, write down the key concepts that you find interesting, and

whether they relate to each year or just one year. You will find specific information

about your firm’s depreciation policies as part of the detailed notes to the financial

statements, and your firm may possibly have ‘depreciation and amortisation’ listed in its

Income Statement as a major expense account. You will also find that ‘Accumulated’

depreciation and amortisation may be listed in your firm’s Balance Sheet, or in a

detailed note that relates to certain assets in the balance sheet (these assets may be

called ‘Property Plant and Equipment’). Note these figures down as part of your key

concepts.

Has your firm changed its depreciation methods over the years that you are reviewing?

If so, why? How might this have affected your firm’s financial statements? What type of

depreciation method does it use (for example, straight-line, reducing balance, units of

production)? Is depreciation a significant expense for your firm? Why or why not?

Using the information from your firm’s financial statements (mainly the Balance Sheet,

Income Statement and the relevant notes), identify at least three journal entries that

may have been processed by your firm’s accountants when recording your firm’s

depreciation. The journal entries can include numbers you have made-up, or

alternatively be simply noted as ‘XXX’. Write the three journal entries as part of your

response to this Step, in your Word document. What effect do these journal entries

have on your firm’s financial statements? Are there any areas where it might be possible

to manipulate these entries?

Please allow about 5 hours to complete Step 10.

Step 11: (2 marks)

Step 11 involves you providing (and receiving) feedback to three other students in our

unit on their draft ASS Steps 7-10.

The main benefit for you of Step 11 is in giving quality and thoughtful feedback to others

in our unit. The process of thinking about the feedback you give to others will help you

ACCT11081 Introductory Financial Accounting – Assignment

Page 14 of 16

greatly with your own assignment as you think about what the assignment requires and

how others have addressed these requirements for their own companies.

Prior to 5.00pm Friday 15 September 2017 (Week 9), please:

• post draft work of your ASS Steps 7-10 on your blog;

• provide a link to your blog on the Draft ASS Steps 7-10 Feedback Forum and post

in the Draft ASS Steps 7-10 Feedback forum a comment that your draft ASS Steps

7-10 is ready for student feedback and, if you wish, specific areas where you

would particularly value feedback for your ASS Steps 7-10.

Prior to 5.00pm Thursday 21 September 2017 (Week 10), please ensure you have

provided quality feedback to at least three other students, using the Peer Feedback

Sheets for ASS Steps 7-10 (see below).

Include the feedback you have given to at least three other students in the unit in your

ASS Steps 7-10. Also, include and/or comment on any feedback others may have given

you on your draft ASS Steps 7-10.

Also, comment in your Step 11 whether you found feedback from other students useful

and why this was, or was not, the case. You can include in your discussion both how

useful (or not) you found feedback you received from other students through your

interactions with them f2f, on discussion forums, Facebook, on our blogs and through

other means.

Please allow up to about 2 hours to complete Step 11.

Please submit your ASS Steps 7–11 as a Word document and Excel spreadsheet.

Note: Late penalties will be calculated based on the due date for the Assignment of

11.00am Tuesday 26 September 2017 (Week 11).

Reference:

Hoggett, J., Edwards, L., Medlin, J., Chalmers, K., Hellmann, A., Beattie, C., Maxfield, J.

(2015). Accounting 9 th ed. Australian edition. John Wiley & Sons Australia.

ACCT11081 Introductory Financial Accounting – Assignment

Page 15 of 16

PEER FEEDBACK SHEET: Assignment Steps 7-10

Feedback From:

Feedback To: .

My Comments

Step 7

Inventory

Step 8

MYOB set up

MYOB training

MYOB quiz

Step 9

Business transactions

All Journals report

Financials and discussion

Step 10

Depreciation

Overall

Note: Please use this sheet as a guide. There is no need to provide feedback on each step of the

Assignment. For example, someone may have little or no draft work completed for one or more

of the steps prior to asking for your feedback.

ACCT11081 Introductory Financial Accounting – Assignment

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Grades will be allocated to the Assignment as follows:

Mark

Step 1

KCQs 2

Step 2

KCQs 2

Step 3 (3 marks)

Background information on company 1

Comments/KCQs 1

Discussion with others 1

Step 4

The recording process 5

Step 5 (6 marks)

Trial Balance 4

Individual reflections 1

Discussion with others 1

Step 6

Individual feedback with others 2

Step 7

Inventory 5

Step 8 (5 marks)

MYOB set up 2

MYOB training 2

MYOB quiz 1

Step 9 (8 marks)

Business transactions 2

All Journals report 3

Financials and discussion 3

Step 10

Depreciation 5

Step 11

Individual feedback with others 2

TOTAL 45

ACCT11081 Annual Reports 财务会计 assignment 代写