TAYLOR’S BUSINESS SCHOOL

TAYLOR’S BUSINESS FOUNDATION

BUS 0115 PRINCIPLES IN ACCOUNTING
JAN 2011 INTAKE
INDIVIDUAL ASSIGNMENT (10%)

1) The asignment consists of written submission.

2) This is an individual assignment.

3) You are required to conduct research on your project and not just depend on
information available in the textbook and notes. All information must be referenced.
Groups which fail to include proper referencing will be penalised.

4) The font is Times New Roman 12 with a line spacing of 2.

5) The deadline to submit the assignment is on 4 May 2011, before 2.00 pm.

1. Please list out the definition of the following items, from three textbooks (including
the Frank Wood & Alan Sangster textbook).

i. Historical Cost Concept (or Cost Principle)

ii. Money Measurement Concept (or Monetary Principle)
iii. The Business Entity Concept (or Accounting Entity Assumption / Concept)
iv. The Accrual Basis Assumption
v. Going Concern Assumption

Please identify the abovementioned definition from your individual Annual Report and
stated the page where these definition is cited as the concept.

(Definition and citation- 30 marks, Referencing – 4 marks)

2. For each item in question (1), please

i. produce your own explanation for EACH item IN YOUR OWN WORDS; and
ii. provide an example illustrating the application of EACH of the five concepts
which you have explained.

Your explanation and examples should reflect your analysis of the definition and
explanation as provided by the references of your choice. Your explanation for this
part (2.) should not exceed 350 words in total.

(20 marks)
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3. Three common types of business organisations are sole proprietorship, partnerships
and limited companies.

i. For each type, describe its characteristics. (3 marks)

ii. Summarise the differences among the three types of business organisations.
(18 marks)

NB
Total of this assignment marks will be reduced to 10%

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 TAYLOR’S BUSINESS SCHOOL

TAYLOR’S BUSINESS FOUNDATION

BUS 0115 PRINCIPLES IN ACCOUNTING

JAN 2011 INTAKE

Individual Assignment

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