Question:
Apply accounting principles and standards when accounting for non-current assets, revenue and liabilities and recognise the judgements required in a range of diverse business contexts.
Differentiate between shares and debentures and apply appropriate accounting procedures.
This assessment will cover the learning objectives from the topics covered in weeks 3, 4, 5 and 6 and applying them to real cases. These include accounting for shares and reserve accounts and accounting for non-current assets, including impairment and asset revaluation.
Task Instructions
Part A: This assessment is designed to demonstrate your understanding of the accounting process to account for the above topics.
Please use the supplied templates to design your answer in the correct General Journal format and combine all answers into one assessment document covering all tasks. Please follow the submission instructions on Blackboard. Submit the assessment file in a word or PDF format including cover sheet. JPEG files cannot be opened and will not be marked.
- Using the templates provided. Design your own General Journal templates.
- Type your answers into the General journal, remembering to leave a blank line after each entry and include a narration and date for every entry.
- Where required, please provide clear workings of your calculations in your answers.
- Do not rewrite the question in your assignment.
- Round all amounts to the nearest dollar.
Part B: You will be required to prepare a short video (no more than 5 minutes) addressing the specific questions provided in this Assignment. This is designed to access your understanding of the concepts you have applied in Part B and also demonstrate your communication skills to your audience. Pleaseensure that your presentation includes reference to relevant Australian Accounting Standards (AASB) and the Corporations Act, where relevant.
It is essential that you use appropriate APA style for citing and referencing research. Please see more information on referencing here in the Academic Writing Guide found via the Academic Skills website.
Write instructions explaining where students will submit assessment in the LMS portal e.g. Submit this task via the Assessment link in the main navigation menu in Assessment 2 Case Study – Submission ACCT6003: Financial Accounting Processes. The Learning Facilitator will provide feedback via the Grade Centre in the LMS portal. Feedback can be viewed in My Grades.
If submitting more than one document.
Please note during the submission process: If you would like to include appendix items in your submission, once your first item has been uploaded, click ‘Browse Your Computer’ to attach your extra documents as an appendix. Then click Final Submit button.
The following page contains a guide to constructing rubrics. Please adapt appropriately and adjust the criteria you use to assess.
Prepare a video presentation to answer the questions in Part B. Upload your file on Blackboard by reading the instructions contained in the following link:
