Assessment Item
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.
Q1 Naming cells in spreadsheets
Why replace cell references with names? Create a simple spreadsheet and paste Owners Equity plus Liabilities = Assets.
Q2 Negative numbers
How can negative numbers be displayed in brackets? Why do accountants display negative numbers in brackets?
Q3 Separation of data and report areas
Explain why an accountant should design spreadsheets with a completely separate data entry area and a separate report area? Paste a simple spreadsheet example. Show normal and normal views.
Q4 IF functions
Find a relevant Youtube and explain the 'IF' statement (function)? Provide a simple spreadsheeted accounting example for a trial balance. Show normal and normal views.
Q5 Periodic systems
Explain periodic inventory systems. Give examples. (Watch the 3 videos on Inventory in Interact2 Resources).
Q6 Worksheet and financial reports
Watch the Foot Worksheet movie in Interact2 resources. Download the relevant word file also on Interact2 resources. This Word file has a template.
A. Create a handwritten solution showing the worksheet and the financial reports. Paste images of your handwritten report in your assignment. If using a smart phone, consider using a free scanning app such as Camscanner, Office Lens, Google Drive or search for an app. Let us know which app you chose.
B. Create a spreadsheet solution following all the usual spreadsheet requirements.
Follow all the spreadsheet requirements including a separate data entry and report area and implement IF functions wherever appropriate. As usual, paste the normal view and the formula view.
C. Write a business report evaluating spreadsheets as a tool for accounting. You may wish to search the Internet with terms such as "advantages of spreadsheets".
Q7 Application of Inventory flow assumptions
Using the template provided, create a well-designed spreadsheet to solve the problem below. Make several of your own changes to the original data and create a new solution. In this second version, create prices that decline throughout the month. Paste the two solutions and one formula view. Highlight your changes. Explain the significance of the changed results,
Q8 Bank Reconciliation
Prepare a Bank Reconciliation Statement from the following data.
A. Create a handwritten solution. Paste images of your handwritten report in your assignment. 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 app you chose.
B. Spreadsheet. Paste the normal and formula views. Use an IF function. Then in a second version change all the data and paste a new normal view. Ensure your bank reconciliation still balances.
Q9 Journalising accounts receivable entries
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
Contrast two different methods of estimating bad debts. Create simple examples.
Q11 Evaluation of a firm's financial position
How can we use receivables to evaluate a firm's financial position? Give numerical examples.
Q12 Dishonour of a note receivable
Write a scenario which includes a credit sale, a conversion to a Note receivable, the dishonour of the note and subsequent delayed payment. Show the journal entries. Create your own simple numbers.
Q13 Work Integrated Assessment case study
Wesfarmers Annual Report 2016
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 2016 Annual Report for Wesfarmers.
Your friend Vikram is studying architecture at another University and knows very little about accounting and annual reports. His uncle gave him $50,000 recently to invest. Vikram knows you have begun studying accounting and is considering buying Wesfarmers shares. He has some questions for you.
Present your answers concisely in a business report format.
1. Identify and describe some of the businesses which are part of the Wesfarmers group.
2. Examine, define and comment on the Statement of Comprehensive Income.
3. Using the Internet and the Wesfarmers Annual Report, examine, define and comment on Dividends, Earnings per Share, Return on Equity, Risk and Mitigation, Sustainability, Corporate Governance, Income Statement and Balance Sheet.
4. Calculate and comment on the Working Capital ratio.
5. Create two charts in Excel from Net Profit after Tax (see page 16) showing 3D columns. Paste the spreadsheet graphs in your assignment. Also, paste the graph data area.
6. Summarise your advice to Vikram re the investment decision.
Attachment:- Assignment.rar