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.
Q1Naming cells in spreadsheets (4 marks)
Seesupport.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.
Q2Negative numbers (3 marks)
Paste a simple spreadsheet example showing how negative numbers can be displayed in brackets. 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-c4b96e7bb146
Q3Separation 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.
Q4IF 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 abusiness report(about 600 words) critically evaluating spreadsheets as a tool for accounting. Use Internet resources. Include a section on the advantages and disadvantages of spreadsheets. Refer to the Internet for advice on Business Report structures. ReferenceALLyour sources.
Q7 Application of Inventory flow assumptions (10 marks)
A.Create a manual, handwritten solution. Scan or use your phone to copy and paste an image of your 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.Read chapter 6 Retail Inventory in your text and view the three videos on Inventory. Create a spreadsheet.
Q8Bank 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 your 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 changeALLthe data and paste the normal view.
Q9Journalising 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 required.
Q10Estimating 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.
Q12Dishonour of a note receivable (8 marks)
Write a narrative 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 narrative. Create your own simple numbers.
Q13Work 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 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 2017 Annual Report for Wesfarmers.
Assume you are an investment advisor with accounting expertise. Present abusiness reportanalysing 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-library/2017-annual-report.pdf
Quality of presentation of the total assignment including referencing throughout and bibliography is weighted at 10 marks.