Accounting Information Individual Assignment
A major component of the ACC203 course is the MYOB assignment that is an individual assignment. Your individual assignment will be assessed on three aspects of the assignment:
- MYOB Assignment:
- MYOB Work Activity Report: 800 words and
- Individual presentation based on MYOB assignment:
Company name TFN and address.
MYOB Assignment -
1. MYOB assignment text book is "Wendy Pabst & Brian Perrin (2015), Accounting With MYOB 19, 1st Edition, Cengage Learning, Australia"
2. Please read the downloading and installing MYOB Software
3. Each chapter has Revision Exercise. Please Do not do Revision Exercise.
4. When you finish each chapter, please print the reports specified in the book , compare the results of the your printed reports and the results of reports of the book and sign at the bottom of each printed report as an evidence of completing the comparison of two reports before starting the next chapter. If two results of the reports are different, you should mark the different results on your printed reports, analyse the difference and write down the possible reasons of the difference.
5. The assignment should include one title page and 9 chapter cover pages (chapter 2 to 10) in front of the printed reports of each chapter, and be tied tightly by binding or using plastic folders. Please do not forget to write your student number, name and course on the title page.
6. MYOB assignment is due by Week 10. Students submit both the paper-printed version and the USB stick to contain 9 MYOB assignment files (*.myox) at the start of the lecture in week 10. If student does not submit the USB to contain 9 MYOB (*myox)files, the printed version will not be accepted or 20% penalty of total available mark will apply to the assignment.
7. When students submit the paper-printed version to the lecturer, the lecturer will ask validation questions to the student to check whether the submitted MYOB assignment is the student own work or not.
8. In the past, we found that some students had copied other student's work, changed name and format, printed and submitted the printed version , or copied word outputs, changed name and converted to PDF file. We remind you again that If we find the students who submits other students' work with changed name and format , we will take action against the students.
How to perform -
Company setup, including company information and chart of accounts:
- Create a new company file
- Set up and link accounts
- Enter account opening balances
- Reports using other option
General Ledger Set-up and General Journal Entries
- Initial bank reconciliation
- General journal transaction
- Understanding GST
- Reports using menu bar
Purchase (Accounts Payable)
- Setup supplier and enter opening balance
- Set-up inventory items
- Purchase transaction
- Bill with discount
Adjustment note
- Pay supplier
- Cash purchase
- Purchase register
Sales (Accounts Receivable)
- Set up customer and opening balance
- Sales transaction
- Received payment
- Cash sales
- Adjustment note
- Part payment received
Banking
- Spend, receive and transfer money
- Pay BAS liability
- Petty cash and credit card
- Bank register
- Bank reconciliation
Inventory
- Set up inventory items
- Enter inventory opening balance
- Inventory transaction
- Auto build inventory items
- End of period stock taking
Integration
- Monthly sales budgets: transactions
- Addition information: Bank reconciliation
- Prepare Business Activity
Statement
Payroll
- Set up payroll
- Assign linked accounts for payroll transactions
- Payroll transactions
- Build employee list
Time Billing and Job Costing
- Set up customer and Supplier cards
- Set up employee cards and enter billing rate
- Time billing activities
- Setting time billing and job
- Time billing and job costing
- Activity slips and log
- Record supplier bills
- Time billing invoices
- Pay employees
MYOB Work Activity Report -
You have to provide an individual work report on how you have worked to produce your MYOB assignment. Major part of your individual report is to practice "Audit Around the Computer Approach" and to prepare report.
In your MYOB assignment, you enter input data in to the MYOB software based on the source documents (input) of the book, print the outputs (the reports) generated by MYOB software and then compare the printed outputs with the outputs of the book. If two results of the two reports are different, you should reconcile the different results Periodic information such as starting, ending and printing dates of each chapter entries must be inserted into the correct section in chronological order, including causes and solutions of the problems. Particularly when you finish each chapter, please print the reports specified in the book and compare the results of the your printed reports and the results of reports of the book . If two results of the two reports are different, you should reconcile the different results on your printed reports and write down the possible reasons in your report.
The final report should use an appropriate business report format and should include a detailed description on:
a. progress based on time spent on each chapter;
b. any issues or problems that have occurred or been managed in each chapter, including details of what the issues or problems (if there are difference between two results of the report produced by you and the report of the book, analyse the difference and write down the possible reasons of the differenc), how have been dealt with them and what have been done to fix the issue or the problems (how to reconcile the difference).
c. your achievement in your MYOB assignment
d. what work is planned for the next 3 months in getting MYOB related accounting job.
Individual Presentation -
Presentation marks will be based on individual student performance at the presentation of your MYOB assignment based on the MYOB Work Activity in weeks 11 and 12 tutorials. If any student does not attend their presentation, the student will not get presentation marks unless a medical certificate has been provided.