Learning Outcomes addressed: 1. Use the language of financial accounting and financial reporting.
2. Explain the purpose, content, format and practical applications of the following financial statements, the Profit and Loss Statement, the Balance Sheet, the Statement of Cash Flows and the relationship between these financial statements
3. Analyse and interpret financial reports
4. Explain the role of management account and use cost management techniques and tools
5. Apply the accounting cycle and the business process of accounting information systems and their ethical implications
6. Apply the accounting cycle and the business process of accounting information systems and their ethical implications
7. Apply the Principle of Double entry system efficiently
Assessment Task: Business reports are practical learning tasks where students apply the theories they have been studying to real world situations.
The students are required to select a topic or work on a topic provided by the lecturer, collect information (Primary and/or secondary) or work on the information provided by the lecturer, and prepare a report describing a business problem or incident.
ASSESSMENT DESCRIPTION:
Every student for this assignment is required to find the assignment question, analyse the given information, make calculations where relevant and draw relevant, supported conclusions and make justified recommendations. Responses are to be formatted into a professional report for each part of each question, as would be expected of someone working in a modern accountant's office.