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of XXXXXXXXXXAutomatic Zoom Actual Size Page Fit Page Width XXXXXXXXXX% XXXXXXXXXX% XXXXXXXXXX% XXXXXXXXXX% XXXXXXXXXX% XXXXXXXXXX% XXXXXXXXXX% XXXXXXXXXX% CrownInstitute of Business andTechnologyPtyLtdABN86116018412National ProviderNo:91371 CRICOSProviderCode:02870DNorthSydneyCampus: 116PacificHighwayNorth Sydney NSW2060P0299550488F0299553888SydneyCBDCampus:Level 5,303Pitt StSydneyNSW 2000P0289596340F0299553888SydneyCBDCampus:Level 11,307Pitt StSydneyNSW 2000P028034 6431Canberra Campus:Suite 1, Level 4, 40 Cameron Avenue, Belconnen, ACT 2617 P XXXXXXXXXX5184FNSACC416 Assessment Task 01v1.1Page 1of 7FNSACC416 Set Up and Operate a Computerised Accounting SystemAssessment Task 01–Practical TestPart A: Task Summary:For this assessment task you are required to enter the details of a small business, Andrew’s Slabs, into Accounting Software(MYOB)based on the scenario information, using the data provided.You will then participate in a meeting with your assessor, who will beplayingthe role of Andrew. He will ask you to demonstrate some of the features of the Accounting Software that you are using, and ask you to change some details of the data that you have entered.This assessment is to be completed in the simulated work environment in the RTO.Required:•Access to a Computerised Accounting System–MYOB•Computer with Microsoft Office and Internet Access•Andrew’s Accounts•Andrew’s Slabs Transactions July•Financial Policy and ProceduresSubmit:oList of AccountsoGeneral Ledger reportoMotor Vehicle Expenses Report.oNew List of Accounts oNew General LedgeroGST Report oBalance SheetoProfit and Loss statement.Students are required to submitHard Copies of the above to the Trainer andUpload Soft Copies of all MYOB files in PDF formatin Moodle.CrownInstitute of Business andTechnologyPtyLtdABN86116018412National ProviderNo:91371 CRICOSProviderCode:02870DNorthSydneyCampus: 116PacificHighwayNorth Sydney NSW2060P0299550488F0299553888SydneyCBDCampus:Level 5,303Pitt StSydneyNSW 2000P0289596340F0299553888SydneyCBDCampus:Level 11,307Pitt StSydneyNSW 2000P028034 6431Canberra Campus:Suite 1, Level 4, 40 Cameron Avenue, Belconnen, ACT 2617 P XXXXXXXXXX5184FNSACC416 Assessment Task 01v1.1Page 2of 7Scenario:Andrew has been buying and selling timber slabs for some years. He makes a range of items from the slabs he buys and will also sometimes buy old furniture, renovate it, and then resell it. He has also started repairing furniture and sometimes sells bespoketimber slabs to customers. The business transactions are still recorded in a cash receipts book, and then transferred to an Excel Workbook, but Andrew has decided to move to an electronic accountancy system. It is your job, as the newly appointed Accounts Officer, to record the company’s details and transactions into a Computerised Accounting System Framework(MYOB). Complete the Following Activities: 1. Enter Company Data: •Enter the data provided in Andrew’s Accountsinto the MYOB Accounting Software provided by your Assessor. •Modify the Chart of Accounts as set out in Andrew’s Accounts, entering the Opening balancesas appropriate.•Delete the accounts that are not listed in Andrew’s Accounts.•Enter details of Andrew’s Slabs’ Customers and Suppliers from Andrew’s Accounts. •The four Customers listed in Andrew’s Accounts have all agreed to the credit terms as set out in the Financial Policy and Procedures and are therefore extended credit at the terms detailed.•Enter Inventory items.2.Enter the Sales and the Outgoings in Andrew’s Slabs Transactions forMay and June:Process all transactions in the integrated system, including:•Credit card•Invoices •Petty cash.

fnsacc416-assessment-task-01-v11-sabina-qnqjszcs.pdf

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FNSACC416 SET UP AND OPERATE A COMPUTERISED ACCOUNTING SYSTEM
Table of Contents
Part A:	3
Journal Report	3
Balance Sheet	4
Pre - Payment of Expenses Account Transaction Report	5
GST Accrual Report	6
Payroll Report	6
Reconciliation Report	6
Banking Transactions Report	7
Part B	7
1.	7
2.	7
3.	8
4.	8
5.	8
6.	9
7.	9
8.	9
References	10
Part A: 
Journal Report 
	
	Date                          Particular           L.f.                                    Amt.(Dr.)               Amt. (Cr.)
	
	May 1                    Cash                       A/C                   Dr                                       $19,783
	                                To  Capital            A/C
	May 3             Local Newspaper          A/C                  Dr               $285
	                                  To  Cash              A/C
	May 4             Shady Timber Mill       A/C                  Dr            $1,340                
	                                 To  Cash               A/C
	May 7                 Wages                        A/C                  Dr             $1,825
	                                 To  Cash               A/C
	May 14               Wages                         A/C                  Dr              $1,825
	                                   To  Cash              A/C
	 May 21                Wages                       A/C                  Dr             $1,825
	                                 To  Cash               A/C
	May 21         The Timber Guys           A/C                 Dr                $720
	                                To  Cash                A/C
	May 22               Jack Daniels              A/C                   Dr              $234
	                                    To  Cash            A/C                                     
	May 28                  Wages                     A/C                  Dr             $1,825
	                                     To  Cash           A/C
	
	
	June 1                  Cash                                A/C                 Dr                                    $22,926
	                                   To Capital                A/C
	
	June 1              Local newspaper                  A/C                 Dr            $285
	                                   To Cash                    A/C 
	
	June 3             Shady Timber Mill              A/C                  Dr            $2,120
	                                 To Cash                      A/C
	
	June 8                  Jack Daniels                    A/C                 Dr               $175
	                                    To  Cash                  A/C     
	
	June 21          The Timber Guys                  A/C                 Dr              $1,250
	                                To  Cash                      A/C
	
	June 21           Shady Timber Mill               A/C                Dr              $875
	                                 To Cash                       A/C
	
Balance Sheet
	Current Assets
	Cash(5)                                                                     242,286.26 87,
	Receivables (6)                                                         161.60 161.60 
	Total Current Assets                                                    242,447.86 87 
	Property,
	 Plant and Equipment (net of depreciation
	(7)Land and Land Improvements                            617,552.88 617,
	Building                                                                   844,647.13 623,
	 Office Equipment, Furniture and Fixtures                384,534.43 355, 
	Machinery and Equipment                                       137,038.59 103,
	 Transportation Equipment- - \
	Other Property, Plant and Equipment                              57,150.00 32,
	Construction in Progress -Agency Asset- - 
Total Property,

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