ACCT1106 会计BUSINESS DESIGN PROJE
100%原创包过,高质代写&免费提供Turnitin报告--24小时客服QQ&微信：120591129
ACCT1106 会计BUSINESS DESIGN PROJECT assignment 代写
DO NOT MAKE CHANGES TO THIS DOCUMENT-IT IS FOR VIEWING PURPOSES ONLY
BUSINESS DESIGN PROJECT - STAGE 1
Business Information Needs and the Recording Process
Team Assessment - 15 marks
Introduction
This project has two stages. Stage 1 and 2 are a team based assessment. Details regarding
stage 2 will be provided later in the semester. This document contains the details for stage 1
and explains how stages 1 and 2 are designed to achieve two major objectives:
● the development/enhancement of your generic skills; and
● the development / enhancement and application of the technical knowledge covered
in the initial topics in this course.
A major objective of this course is to develop your behavioural skills or more specifically
personal and interpersonal skills (See Appendix 1 of the Working Effectively in Teams
manual). This project offers you the opportunity to further develop these skills through team
work where successful completion of the project will be dependent on skills such as listening
effectively, presenting, discussing and defending views, negotiating with team members,
understanding team dynamics and collaboration.
For this reason this project is a relatively complex task requiring a basic understanding of the
business environment in Australia, basic accounting concepts, information processing skills
and so forth. This combination of requirements means that successful completion is unlikely
without the combined effort of your team. This combined effort does not simply mean
dissecting the assignment into parts and allocating a part to each team member. Teams that
have received high marks in previous semesters typically had a strong shared
understanding of their project. This was often achieved by requesting individual team
members to gain expertise in specific aspects of the project and then sharing this expertise
with the rest of the team. This sharing was not a one way transmission but a two way
dialogue that relied on the personal and interpersonal skills listed above, resulting in a
shared understanding of all aspects of the task. In addition the learning opportunities offered
by active participation in this project are an essential part of your opportunity to learn the
basic technical skills of an accountant and lay the foundation for your successful progression
both through this accounting course and the MPA. Some of the technical learning from this
assignment will be included on the final examination.
Assessment of this project will include feedback from your team members as to the effective
participation of each member. Working as a team you are required to determine the
information requirements of a small business and maintain the accounting records for this
business. Initially (stage 1) you will be required to describe the business, and create a range
of sample transactions which you will then manually process through to thepresentation of
financial statements. Stage 2 introduces MYOB and requires you to respond to the feedback
you received from your Stage 1 submission. That is, Stage 2 requires you to create an
amended chart of accounts and process your amended/corrected transactions using MYOB,
ensure the financial reports have taken into account feedback provided by your tutor and
then reconcile all differences between your previously submitted Stage 1 results and your
current Stage 2 results. Further details about the requirements for Stage 2 will be placed on
blackboard later.
ACCT
1106
Accounting,
Accountability
&
Society Semester
2,
2017
DO NOT MAKE CHANGES TO THIS DOCUMENT-IT IS FOR VIEWING PURPOSES ONLY
Your team must choose a retail/service business. An example of a retail/service business is
a dog-grooming business that sells a range of dog grooming accessories such as dog
brushes and combs (retail) and also provides a dog grooming service where customers can
bring their dogs to have their fur trimmed/cut, washed, dried, have their ears cleaned and
their nails clipped. That is, a full grooming service for their dog/s (service). For the retail
aspect, you need to choose products that your business buys and then resells at a higher
price. Do not choose a restaurant, a take away food business or food manufacturer or a
manufacturing business.
You are required to describe and analyse the business and its financial information
requirements with the objective of creating an appropriately classified Chart of Accounts that
will meet these requirements. Your team should also outline important factors that influence
the design of the recording system (this will be done in the Google sheet that follows) such
as:
● form of business ownership
● the single (one) service you are providing
● the two products that you are selling
● terms and conditions you offer to customers
● terms and conditions offered by your various suppliers
● your team should also be aware of the relevant procedures to assist in the determination
of the treatment of transactions where a range of possibilities as to the treatment exist. To
assist in this task these procedures have been provided for your business. (See
Procedures and/or Assumptions worksheet) in the Google Sheet. You will also be required
to undertake various roles in the team that relate to the operation of the team and the
operations of the business. You will be required to specify your team roles in the Business
Details worksheet (in the Google Sheet).
NOTES:
The following notes are aimed to assist you in determining the amount of detail
required in your transaction descriptions , to clarify uncertainty regarding discounts
and to explain what is meant by terms and conditions:
● Any amounts that require rounding are to be rounded off to two decimal places.
● Where a cash/trade discount is offered the sale/purchase value is recorded at the
discounted price. Note: a
cash/trade discount is
different
to a
discount offered for
prompt settlement (payment) of an account
(where a discount is applied for
payment of an outstanding account within a specified amount of time and is
sometimes
referred
to
as
a
‘discount
for
prompt
payment’
).
● For credit transactions you must state the name of the supplier/customer and this
name must have been included in the Business Details worksheet.
● For transactions involving goods/stock/inventory items, you must state the item name,
quantity involved, unit price and/or unit cost.
● For transactions involving supplies, you must include a description of the supply
involved and the total value of the transaction.
ACCT
1106
Accounting,
Accountability
&
Society Semester
2,
2017
DO NOT MAKE CHANGES TO THIS DOCUMENT-IT IS FOR VIEWING PURPOSES ONLY
● For transactions involving fees revenue, you must name the type of service/fee, and
describe how the fee was calculated.
● Where GST is relevant to a transaction you must state whether the amount shown
includes GST (GST inclusive) or whether it excludes GST (GST exclusive).
● Terms and conditions (also referred to as Terms of Credit) reflect what has been
agreed upon between your business and your suppliers and customers in regard to
credit purchases and credit sales respectively. For example, 2%/10, n30 reflects that
a 2% discount will be applied if the account is paid within 10 days of the
sale/purchase. If it is not paid within this time frame, the discount no longer applies
and the net amount (total) is due within 30 days. Such a discounts is also referred to
as a discount for prompt payment as it is used to encourage payment of an account
earlier.
DOCUMENTS PROVIDED:
There are 3 documents available that relate to this assessment:
● Business Design Project - Stage 1 Instructions and Information Sheet (Google Doc)
(this
document)
● Business Design Project Stage 1 2017s2 (Google Sheet) - the link is provided in this
document.
● Individual Evaluation form (Google Form) - the link is provided later in this document.
REQUIRED:
1. You must read this entire document first before moving to step 2.
2. ONLY
ONE
TEAM MEMBER NEEDS TO UNDERTAKE STEP 2 ON BEHALF OF
THE
WHOLE
TEAM.
Follow
the
instructions
below
very
carefully
:
i. Open the “MASTER” copy of the BDP Stage 1 2017s2 Workbook (Google
Sheet) using this link. NOTE: You MUST use your RMIT STUDENT EMAIL
ACCOUNT. You will NOT be able to access these documents using a private
google account. This is a master copy that everyone in our course can see so
ensure you make your own copy of it for your team by following instructions
below!
ii. Go to File/Make a Copy and RENAME the copy sheet using the following
file name: <your team name> 201702 ACCT 1106
iii. Share the sheet you have renamed with your team members (using their
RMIT student email addresses).
iii.1. Click on the Share icon (top right hand corner of document)
iii.2. Enter your team member’s RMIT email addresses only
iii.3. Select EDIT access.
ACCT
1106
Accounting,
Accountability
&
Society Semester
2,
2017
DO NOT MAKE CHANGES TO THIS DOCUMENT-IT IS FOR VIEWING PURPOSES ONLY
iv. You MUST do the above steps BEFORE working on the google sheet
otherwise any information you enter will be visible to ALL students in
this course.
v. The BDP Stage 1 2017s2 Workbook is like an excel sheet that contains the
following worksheets and some additional instructions are also provided in
individual worksheets where required:
i. Business Details
ii. Chart of Accounts
iii. Transaction List
iv. Procedures and/or Assumptions
v. Transactions and General Journal
vi. Stock Cards
vii. General Ledger
viii. Trial Balance
ix. Income Statement
x. Balance Sheet
xi. Statement of Cash Flows
xii. Check and Mark Sheet
3. Complete the Business Details worksheet. Refer to the instructions in the worksheet.
4. Prepare a classified chart of accounts for your business (no more than 55 ledger
accounts). Your chart of accounts must include all of the accounts listed in the
opening trial balance provided below. Assets and liabilities must be classified into
current and non-current and a coding system must be used. Note: a copy of the
Opening Ledger Account Balances (below) can also be found in the Chart of
Accounts worksheet.
Opening Ledger Account Balances
Account Name Debit Credit
Accounts payable 11,000
Accounts receivable 9,000
Prepaid rent 18,000
Inventory 10,000
Cash at Bank 132,500
Capital or Share Capital
154,000 Select appropriate account for business type
GST Payable 10,500
Stock of supplies 6,000
175,500 175,500 -
ACCT
1106
Accounting,
Accountability
&
Society Semester
2,
2017
DO NOT MAKE CHANGES TO THIS DOCUMENT-IT IS FOR VIEWING PURPOSES ONLY
5. Create sample transactions that are representative of the transactions your business
may have during normal trading conditions.
(i) To achieve this you are required to prepare a detailed table (see Transactions and
General Journal worksheet) of 22 realistic transactions for the month of August
2017 for your business. You are to assume that the business has an Australian
Business Number (ABN) and collects and pays GST on all relevant transactions
using the non-cash (accrual) basis for GST. Note that your business will be using
one account for GST – GST Payable.
(ii) Transactions in the Transaction List worksheet have already been allocated
transaction numbers. Each transaction in the Transactions and General Journal
worksheet must be allocated the same respective transaction number provided in
the Transaction List and transactions must be recorded in this order. (Note: these
transaction numbers will act as your reference numbers throughout all parts of this
project and act as cross references).
(iii) Your transactions must include examples of all of the transactions detailed in the
Transaction List worksheet (20 transactions). Included in the Transaction List are also
2 transactions that you have the freedom to create. In total, this means you will have
22 transactions. Closing entries must not be completed.
(iv) Stock cards must be completed for each inventory item in the Stock Cards
worksheet. That is, a separate card is required for each item of inventory. As you sell
two products, then you should have 2 inventory cards (1 for each product) so that you
can keep track of movements in each inventory item by quantity and cost and
determine cost of goods sold.
6. Provide completed ledger accounts (after entering opening balances provided and
posting your general journal entries from the Transactions and General Journal
worksheet) in the General Ledger worksheet. Ledger accounts need to be in T
format as per the format in our textbook.
7. Prepare a trial balance in the Trial Balance worksheet that is based on your general
ledger account balances.
8. Prepare an Income Statement and fully classified Balance Sheet from the trial
balance you complete in 7 above. They must be provided in the Income Statement
worksheet
and Balance
Sheet
worksheets
respectively.
9. Summarise the transactions recorded in the ‘cash at bank’ account in the general
ledger and then prepare a statement of cash flows in the Statement of Cash Flows
worksheet.
10. Individual evaluation forms must also be completed once you have completed stage 1
of the project and prior to the submission date and time. Each team member needs
to complete a separate evaluation form that evaluates each member of their team
(including themselves!)
ACCT
1106
Accounting,
Accountability
&
Society Semester
ACCT1106 会计BUSINESS DESIGN PROJECT assignment 代写
2,
2017
DO NOT MAKE CHANGES TO THIS DOCUMENT-IT IS FOR VIEWING PURPOSES ONLY
For example, for a team of three students (Jack, Jo, and Jin):
● EACH TEAM MEMBER will complete 3 individual evaluation forms
● Jack will complete
○ an individual evaluation form about himself;
○ an individual evaluation form evaluating Jo; and
○ an individual evaluation form evaluating Jin
● Jo and Jin would also go through the same procedure in evaluating
themselves individually and the other team members
● In total, the team will have submitted 9 evaluation forms.
This is completed online using Google Forms at the following link: Individual
Evaluation Form using your RMIT student email (google) account only. [Right
click on the link and select “Open Link”].
Submission of this Assessment is in 3 parts:
(1) Online submission through blackboard by each team that includes:
(a) Completed Google Sheet for your team containing all worksheets
(b) Signed and scanned Assignment Cover Sheet (must be signed by all team
members). The Assignment Cover Sheet is available at the following link:
Assignment Cover Sheet (Right click on the link, select Open Link, then print
out, complete, sign and scan)
All work is to be presented in a professional manner that allows for
corrections/comments to be made on your work. You are required to submit your
completed Google Sheet online. It must contain all of your work and the worksheets
must be in the same order as that listed below:
1. Business details
2. Chart of accounts
3. Transaction list
4. Procedures and/or assumptions
5. Transactions and General Journal
6. Stock cards
7. General ledger
8. Trial balance
9. Income Statement
10. Balance Sheet
11. Statement of Cash Flows
12. Check and Mark Sheet
Please ensure that all worksheets are in the order stated above and that only ONE
file containing all of these worksheets is submitted. All submissions must be in a
suitable format that enables them to be easily read AND easily printed out by your
instructor if necessary. Please note that the Business Design Project will not be
required to go through Turnitin hence your online submission will have no reference to
the degree of similarity as it has been set up as an assignment not subject to Turnitin.
Each team must submit this assessment (Google Sheet and Assignment Cover
ACCT
1106
Accounting,
Accountability
&
Society Semester
2,
2017
DO NOT MAKE CHANGES TO THIS DOCUMENT-IT IS FOR VIEWING PURPOSES ONLY
Sheet) online by the due date and time and in the format described in this document
to avoid any penalties.
Note: All your work must be readable, that is, do not use an extremely small
font size for your work.
(2) Hard-copy submission of the above documents listed in (1) with the Assignment Cover
Sheet secured to the front of the submission. Ensure that it is fully completed and that it
contains details of your tutor’s name (Ha Nguyen OR Sonia Magdziarz) and that the
course code (ACCT 1106) is listed.
(3) Completion of the Individual Evaluation forms online.
Each team member must complete the required Individual Evaluation forms (Google form)
online by the due date and time to avoid any penalties using the link provided in this
document.
Due Date for Stage 1: Sunday August 27, 2017 by 11.59pm.
ACCT
1106
Accounting,
Accountability
ACCT1106 会计BUSINESS DESIGN PROJECT assignment 代写
&
Society Semester
2,
2017
DO NOT MAKE CHANGES TO THIS DOCUMENT-IT IS FOR VIEWING PURPOSES ONLY
How do we avoid problems in our team?
The following aims to provide some guidance to students and will possibly need to be
adapted throughout the period of the assignment.
(a)
Ensure that all team members are familiar with the strengths and weaknesses of each
team member. Remember that the purpose of this project is to provide you with a
positive learning experience and develop generic skills. Use your areas of strength to
guide other team members and ask for guidance by other team members in your areas of
weakness. Do
you
want
to
appoint
a
team
leader?
If
so,
who?
(b)
Prepare a timetable for team meetings and a timeline for each step your team needs to
complete (this is your 1st draft and may be subject to change). Team meeting should
occur at least weekly.
(c)
Determine how you will exchange information i.e. online or face to face, or, would you
prefer to use some other method? If so what method?
(d)
Spend some time as a team ensuring all your team understands the business you have
created. The team must achieve consensus as to what the business is and how it
operates. All team members should have a shared image or picture in their mind of
the business.
(e) Complete the Business Details worksheet.
(f)
Summarise the project for tasks you must complete and constraints imposed. For
example you must use the perpetual method for recording inventory and use the format
provided in the Transactions and General Journal worksheet to submit your transactions.
(The check and mark worksheet provided should help with this task). Check that the
timeline you originally prepared is appropriate and adjust if necessary. Ensure that each
team member is contributing.
(g)
Review the project and/or your summary for terms/language that you are not familiar with.
Prepare a glossary of terms that can be shared by all team members.
(h)
Adjust the chart of accounts for the business structure you have selected. You must use
the opening trial balance listed in the Chart of Accounts worksheet (also replicated in this
document!) as the starting point for your chart of accounts.
(i)
Prepare your transactions details’ ensuring that they are appropriate for the activities of
your business and that the flow of transactions is logical. Record the transaction number
from the Transaction List provided in the Transaction List worksheet so as to ensure you
have recorded all required transactions. Remember that you will need to create additional
transactions to reach the minimum transactions needed. Do not exceed the maximum
transactions allowed.
(j)
Analyse each transaction (in the Transaction and General Journal worksheet) adjusting
the chart of accounts as necessary .
(k) Post the general journal to the ledger and prepare a trial balance.
(l) Prepare the financial statements.
ACCT
1106
Accounting,
Accountability
&
Society Semester
2,
2017
DO NOT MAKE CHANGES TO THIS DOCUMENT-IT IS FOR VIEWING PURPOSES ONLY
(m)Complete the Individual Team Member Evaluation Sheets. Each team member must
evaluate each other team member using individual evaluation forms. Each team member
must also complete an individual evaluation form about themselves. A link to the
individual evaluation form is located earlier in this document.
(n) Check that all tasks have been completed correctly and if necessary make adjustments.
(o)
Collate your work in a logical manner and submit ensuring that it is in a format that allows
your tutor to mark it and make corrections/comments with ease. That is make sure it is
neat and presented professionally and uses any of the proformas provided in the
worksheets.
(p) Ensure each team member keeps a copy for their own records.
The following provides some guidance as to how to minimize the
risk of problems within your team.
(a) Make sure you are familiar with the manual provided on working effectively in teams.
(b)
Make sure all team members have agreed to a regular meeting time (preferably a day of
the week has been selected, an agreed starting time, expected duration and
venue/method of communication).
(c) Ensure tasks, responsibilities and timelines are documented.
(d)
Where a team member does not attend a scheduled team meeting, is late for meetings or
fails to complete tasks on time record the details including dates, times and problems.
For example ‘it was agreed all team members would review pages 203 – 213 (perpetual
inventory) 220 – 225 (GST) and Appendix 5A (moving weighted average cost) prior to
our meeting on 31 March. [Name of student]
arrived 30 minutes late for the meeting and
appears to not have done the required reading.
(e)
Where a team member appears to have personal or study and learning problems
encourage them to use the services provided by RMIT or encourage them to see a staff
member for guidance as to the support available. These services include counselling,
English support; writing skills, stress management etc. Be tolerant and understanding
and remember that this is an opportunity to develop and/or demonstrate those
inter-personal skills you are often asked to describe when seeking employment or
promotion.
(f)
If problems persist complete the peer evaluation form included in the “Working Effectively
in Teams Study Semester 2, 2017” manual and forward to your instructor and the Course
Co-ordinator.
(g)
Each team member will be required to submit an individual team member evaluation form
evaluating each member of the team (including themselves!) with the Stage 1 and Stage
2 submissions. Your tutor will use these forms to determine if all team members in the
team are awarded the same mark or if those who did less will have marks deducted.
ACCT
1106
Accounting,
Accountability
&
Society Semester
2,
2017
ACCT1106 会计BUSINESS DESIGN PROJECT assignment 代写
