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Charles Sturt University Subject Outline ACC XXXXXXXXXXS I-2 February 2018-Version 2 Page of 21 37 Assessment item 2 Assessment Item 2 Value: 20% Due date: 08-May-2018 Return date: 30-May-2018...

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Charles Sturt University Subject Outline
ACC XXXXXXXXXXS I-2 Fe
uary 2018-Version 2 Page of 21 37
Assessment item 2
Assessment Item 2
Value: 20%
Due date: 08-May-2018
Return date: 30-May-2018
Submission method options
Alternative submission method
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. See the Spreadsheet Advice PDF, the Inventory videos and the Foot
worksheet videos.

Q1 Naming cells in spreadsheets (4 marks)
See
support.office.com/en-us/article/Define-and-use-names-in-formulas-4D0F13AC-53B7-422E-AFD2-ABD7FF379C64
(https:
support.office.com/en-us/article/Define-and-use-names-in-formulas-4D0F13AC-53B7-422E-AFD2-ABD7FF379C64)
Create a simple spreadsheet to demonstrate how cell references can use names. Use Sales less
Expenses = Net Profit. Show both normal and formula views with row and column headings.
Q2 Negative numbers (3 marks)
Paste a simple spreadsheet example showing how negative numbers can be displayed in
ackets. Why
do accounting financial reports follow this practice? See:
support.office.com/en-us/article/change-the-way-negative-numbers-are-displayed-104b47a6-8ae2-471f-8f73-c4b96e7
146
(https:
support.office.com/en-us/article/change-the-way-negative-numbers-are-displayed-104b47a6-8ae2-471f-8f73-c4b96e7
146)
Q3 Separation of data and report areas (5 marks)
Why should accounting spreadsheet reports be designed with a completely separate data entry area and
a separate report area? Paste a simple spreadsheet example showing normal and formula views.
Q4 IF functions (5 marks)
Reference a YouTube video explaining IF functions. What is an 'IF' statement (function)? Provide a
simple spreadsheet accounting example showing an IF function for net profit/net loss.
Q5 Periodic versus Perpetual Inventory Systems (5 marks)
Does the Foot video in Interact2 Resources show Periodic or Perpetual Inventory? How can you tell?
Explain the essential differences between perpetual and periodic inventory systems. Give your own
examples of products/situations suited to each. (Watch the 3 videos on Inventory in Interact2
Resources).
Q6 Worksheet and financial reports (12 marks)
Write a (about 600 words) critically evaluating spreadsheets as a tool for accounting.business report
Use Internet resources. Include a section on the advantages and disadvantages of spreadsheets. Refe
to the Internet for advice on Business Report structures. Reference your sources.ALL
Q7 Application of Inventory flow assumptions (10 marks)
Create a manual, handwritten solution. Scan or use your phone to copy and paste an image of yourA.
handwritten solution in your word file. 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 method you
chose. We ask for a handwritten solution because this is the method you will use in the final exam. In
the meantime, we want you to acquire spreadsheeting skills.
https:
support.office.com/en-us/article/Define-and-use-names-in-formulas-4D0F13AC-53B7-422E-AFD2-ABD7FF379C64
https:
support.office.com/en-us/article/Define-and-use-names-in-formulas-4D0F13AC-53B7-422E-AFD2-ABD7FF379C64
https:
support.office.com/en-us/article/change-the-way-negative-numbers-are-displayed-104b47a6-8ae2-471f-8f73-c4b96e7
146
https:
support.office.com/en-us/article/change-the-way-negative-numbers-are-displayed-104b47a6-8ae2-471f-8f73-c4b96e7
146
Charles Sturt University Subject Outline
ACC XXXXXXXXXXS I-2 Fe
uary 2018-Version 2 Page of 22 37
. Read chapter 6 Retail Inventory in your text and view the three videos on Inventory. Create aB
spreadsheet.
Charles Sturt University Subject Outline
ACC XXXXXXXXXXS I-2 Fe
uary 2018-Version 2 Page of 23 37
Q8 Bank Reconciliation (10 marks)
Prepare a Bank Reconciliation Statement from the following data.
A. Create a manual, handwritten solution. Scan or use your phone to copy and paste an image of you
handwritten solution in your word file. 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 method you
chose. We ask for a handwritten solution because this is the method you will use in the final exam. In
the meantime, we want you to acquire spreadsheeting skills.
B. Spreadsheet. Paste the normal and formula views. Use an IF function. Then in a second version
change the data and paste the normal view.ALL

Q9 Journalising accounts receivable entries (6 marks)
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
equired.
Q10 Estimating bad debts (4 marks)
Contrast two different methods of estimating bad debts. Create simple examples.
Q11 Computers and Accounts receivable (6 marks)
Explain how computers have become essential to online retailing. Use eBay as an example.
Charles Sturt University Subject Outline
ACC XXXXXXXXXXS I-2 Fe
uary 2018-Version 2 Page of 24 37
Q12 Dishonour of a note receivable (8 marks)
Write a na
ative which includes a credit sale, a conversion to a Note receivable, the dishonour of the
note and subsequent delayed payment. Then show the T accounts derived from your na
ative. Create
your own simple numbers.
Q13 Work Integrated Assessment case study (12 marks)
Wesfarmers Annual Report 2017
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 abso
ing 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 2017 Annual Report for Wesfarmers.
Assume you are an investment advisor with accounting expertise. Present a analysingbusiness report
Wesfarmers as a shareholder investment. Include in your report the range of Wesfarmers activities,
sustainability issues, financial information and your own charts created from Wesfarmers data using
Excel. Show these charts with the data selected by you. Show two different chart styles. Ensure you
use a business report format. Include images in your report,
You report will be about 600 words excluding appendices, charts and images.
Find the Wesfarmers 2017 Annual Report on the web.
www.wesfarmers.com.au/docs/default-source/default-document-li
ary/2017-annual-report.pdf
(https:
www.wesfarmers.com.au/docs/default-source/default-document-li
ary/2017-annual-report.pdf?sfvrsn=0)

Quality of presentation of the total assignment including referencing throughout and
ibliography is weighted at 10 marks.
Rationale
Assessment task 2 is designed to give you further opportunity to demonstrate knowledge and skills in
more in-depth aspects of accounting and information systems including bank reconciliation, inventory
systems, financial reports, accounting for bad debts and notes receivable, as well as concepts and the
application of spreadsheet software to the presentation and solution of accounting problems.
Task 2 covers the study schedule weeks 5-12 inclusive and includes the application of conceptual and
technical aspects of accounting and the preparation of business financial statements, the appraisal of
the use of information technology including spreadsheet software, to demonstrate business
communication skills including report writing, to contextualise and evaluate accounting information
for decision making, to explain the importance of ethics in accounting.
In today’s business environment we need ve
al skills, writing skills, numeracy skills AND digital
literacy skills. All of these skills are assessed throughout this subject. The early questions in this
assignment are designed to assess your digital literacy in a business/accounting environment. It is
suggested that you attempt the assignment questions week by week.
https:
www.wesfarmers.com.au/docs/default-source/default-document-li
ary/2017-annual-report.pdf?sfvrsn=0
Charles Sturt University Subject Outline
ACC XXXXXXXXXXS I-2 Fe
uary 2018-Version 2 Page of 25 37
Marking criteria
Your assignment will be marked as a whole with recognition being given to demonstration of
knowledge, quality thinking, application of skills and critical thinking.
For some questions you have a chance to demonstrate some creativity, or provide your own examples
or give evidence of wider reading or to structure a spreadsheet in an innovative manner. You also need
to avoid the snowballing effects of cumulative e
ors - that is, an e
or early in a practical question
which ca
ies through. Full marks are a possibility for well structured, complete, quality answers.
You will be provided with a mark based on the work submitted and you will also be provided with
suggested solutions or guidelines. Feedback will normally consist of the mark, specific comments and
guideline solutions.
To meet this level, you will attain a cumulative mark between 85%-100%. A markHigh Distinction.
in this range indicates that you have met the learning outcomes for this task to an exceptional level,
including skilfully applying co
ect analytical methods and techniques, deconstructing information and
eflecting on different accounting and financial management ideas and interpretative techniques
applied in management decision making and efficient allocation of business resources, and creating
professional reports and spreadsheets that can be used in management decision making.
This mark also indicates your assignment will:
• be professionally presented with co
ect spelling and grammar
• be the result of your original work
• include complete references and acknowledgment of all sources used according to APA 6th style
• be complete without any omissions
• be co
ect
• evaluate comprehensively the issues raised in the questions
• provide examples where appropriate, and
• comply with all spreadsheet requirements.
To meet this level, you will attain a cumulative mark between 75%-84%. A mark in thisDistinction.
ange indicates that you have comprehensively met the learning outcomes for this task, including
competently applying co
ect analytical methods and techniques, judging between different accounting
and financial management ideas and interpretative techniques in management decision making and
efficient allocation of business resources and designing reports and spreadsheets for effective use in
management decision making.
This mark also indicates your assignment will:
• be neatly presented with very few spelling and grammatical e
ors,
• be the result of your original work,
• include references, acknowledging all sources used according to APA 6th style
• be mostly complete
• evaluate many of the issues raised in questions
• provide examples where appropriate, and
• comply with most spreadsheet requirements.
To meet this level, you will attain a cumulative mark between 65%-74%. A mark in this rangeCredit.
indicates that you have thoroughly met the learning outcomes for this task, including differentiating
etween different analytical methods and techniques to be applied, determining a course of action
using accounting and financial management ideas and interpretative techniques for management
decision making and efficient allocation of business resources, and assembling reports and
spreadsheets for use in management decision making.
This mark also indicates your assignment will:
• be neatly presented with few spelling and grammatical e
ors
• be the result of your original work
• include references, acknowledging sources used according to APA 6th style
• be
Answered Same Day Apr 29, 2020 ACC566 Charles Sturt University

Solution

Aarti J answered on May 03 2020
134 Votes
Accounting
Course Name
Date
University Name
Professor’s Name
RUNNING HEAD: ACCOUNTING        1
Accounting
Answer 1: Naming cells in spreadsheets
Cell referencing is one of the features in excel which helps in refe
ing the cells for the formulas. It helps in defining and naming different cells and putting it in the formula. Example: A simple cell referencing formula has been used: Net profit. Net profit = Sales – Cost of goods sold. In the absence of cell referencing, the formula usedwe would be calculating the net profit as C4-C5, with cell referecing we can use the formula as Sales – Expenses which gives better undertstanding of the formula and the equation used.
Formula view:
ACCOUNTING        12
Answer 2: Negative numbers
Negative sign states that the number is being subtracted. The negative signs are usually used to show that the number is an expense or a loss and needs to be deducted. It is useful as it helps in differentiating between the positive number and negative number.
Answer 3: Separation of data and report areas
There should be separate area for entry and a separate area for the report area, as it is easy to differentiate between the data which has been provided and the data which has been calculated. This also helps in analysing the e
ors in input if any.
The input area is the area where we input the given facts so as to calculate the result from the given facts.
Formula view:
Answer 4: If Functions
If function is the logical test function in excel which is based on the result of true and false. It helps in calculating different things if one fulfils one condition else it calculates the other thing. Example:
Formula view:
Reference: https:
www.youtube.com/watch?v=OMu7LTGHMVc
Answer 5: Perpetual versus Periodic systems
The two methods of inventory flow assumptions are Period system and Perpetual system. The periodic method of the inventory is the system in which the inventory’s counting is done at the end of the period like weekly, monthly or quarterly while under the perpetual system, the inventory is counted and valued at the end of every transaction like every sale, and purchase. Periodic system is done when inventory is huge whereas the perpetual system is used for the high value inventories like automobile, jewellery etc.
Answer 6: Worksheet and financial reports
Spreadsheet is one of the tools which is widely used by the people across the globe. The use of the...
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