ACC101 Accounting Practice

Assessment Brief

ACC101 Accounting Practice - Summar Intake 2024 Assessment 2

Financial Reporting Cycle, Ratio Analysis in MS Excel, and Written Analysis

Assessment Type: Individual

Assessment Weight: 25%

Due Date: Week 6 2^nd February 2025 by 11.59pm

Assessment Overview:

In Assessment 2 of ACC101 - Accounting Practice, students will engage in a practical exercise focused on the application of accounting techniques and processes using Microsoft Excel. The primary objective is to complete a financial reporting cycle, starting from the identification of transactions to the generation of final reports. Additionally, students will conduct ratio analysis, comparing their findings to industry benchmarks. The assessment will require students to identify risks and limitations in the financial data and provide written recommendations based on their analysis.

Unit Learning Outcomes (ULO) Addressed:

This assessment is designed to address the following Unit Learning Outcomes (ULO):

• ULO 2: Use accounting techniques and processes in different organizational settings, including small and medium-sized enterprises and start-ups.

• ULO 4: Access and organize accounting information to communicate by written report.

Assessment Tasks:

1. Financial Reporting Cycle: Using Microsoft Excel, students will identify and record relevant transactions into general journal, ledger accounts and complete a financial reporting cycle by preparing the final reports such as income statement and balance sheet.
2. Ratio Analysis: Students will conduct a comprehensive ratio analysis using the financial data generated above. This analysis should cover key financial ratios, such as liquidity ratios, profitability ratios, and leverage ratios. Students are required to compare their findings with industry benchmarks provided to make assumptions.
3. Identification of Risks and Limitations: Evaluate the financial data calculated above in comparison to the industry benchmark provided for potential risks and You can consider factors that may also impact businesses other than financial statistics. Such as post COVID-19 emerging market trends, etc.
4. Written Recommendations: Based on the results of the financial reporting cycle and ratio analysis, students are expected to provide written These recommendations should address identified risks and limitations and propose potential strategies for improvement.

Assessment Submission Guidelines:

• Submit the completed Microsoft Excel file, including financial statements and ratio

• Submit a separate written report (MS Word format) with recommendations, discussing risks and limitations. Use the standard assignment cover sheet.

• Submission must be done through My CIHE via the provided Turnitin submission link; email or hard copy submissions will not be accepted.

• Ensure your work is well-structured, properly referenced, and submitted by the specified due date. Late submissions may incur penalties.

Marking Guide: