Professional Documents
Culture Documents
Individual Assignment Covers Material 20 Marks Total
Individual Assignment Covers Material 20 Marks Total
Covers material
20 marks total
Submission
All submissions must be typed in a minimum 11 font, with 1.5 line spacing using word and submitted as a
pdf file. Please refer to the online marking rubric for marking guidance.
Referencing
All submissions will be reviewed for plagiarism (copying). This is a very serious offence and can result in you
receiving no marks for the assessment task. Refer to the subject learning guide for additional details
regarding plagiarism.
Please ensure if you have copied information you use quotation marks and appropriate referencing.
If you reword someone else’s work you still need to refer to the author(s) in your sentence. For example,
Ashman (2023) discusses how……. – whilst this is not a quote you need to reference the idea. The library
provides specific guidance for referencing.
Assignment Presentation
Refer to the “Assignment Presentation Guide” available under the “Assessment” box for guidance.
Please ensure you review this presentation guide and compile your assignment as a business report using the automated front page, table of contents, headings,
page numbering and layout.
Task
You have decided to launch your own business. You are required to compile a business report answering questions 1-6 below in the order presented.
You need to undertake market research and specify the references that were used to compile your transactions.
Select a service business that you would like to run, choose a name and location for your business. Explain the service you are selling (only 1 service should be
selected) and further explain what form of organisation your business will take (i.e. sole proprietorship, partnership or private/public company). Provide at least
two reasons for your organisation’s form and briefly explain why you did not choose the other forms of business.
Question 2 (2 marks)
Graduate Capabilities – Inquiry and Analysis, Discipline Knowledge and Skills
Assume you will start your business on the 1st of October 2023. Undertake market research and prepare a list of possible business transactions relevant to your
business that will occur during October (the transactions are not recorded in this question). Your list of transactions should be referenced properly to
demonstrate your appropriate market research.
You should provide a list of at least 10 different transactions related to the activities of your business.
NOTE: it is expected you will undertake research into the industry in which your business operates to ensure the transactions relate to the business type and the
value is reasonable. You are expected to gather this information from the internet, you are not expected to enquire directly with such businesses. I anticipate a
minimum of 3 different references will be required (in total, not for each transaction).
Question 3 (2 marks)
Graduate Capabilities – Inquiry and Analysis, Discipline Knowledge and Skills
Using the information from Question 4 above, post the listed transactions into the General Journal (including dates and narrations) and the ledger accounts (T.Accounts
- ensuring they are all in the month of October and include dates and cross references). Please use excel for this exercise and copy them into your report). Prepare
the unadjusted Trial balance.
Question 4 (2 marks)
Graduate Capabilities – Inquiry and Analysis, Personal and Professional, Discipline Knowledge and Skills
Assuming it is the end of October, identify and post 5 adjusting entries, ensuring they are all different types of entries. The amounts and items recorded should be
related to the information you provided in questions 3 and 4 of the assignment. Record the adjusting entries in the General Journal (include dates and narrations)
and post them to the ledger accounts (T.Accounts - include dates and cross-references). Prepare the adjusted Trial Balance.
This question is expected to be completed using Excel and copied into the word report. (No specific word limit for this question)
Please note, it is recommended you ensure you have sufficient transactions from question 4 of the assignment to relate to your adjusting entries.
Question 5 (5 marks)
Graduate Capabilities – Inquiry and Analysis, Personal and Professional, Discipline Knowledge and Skills
You have decided to move on from your service business to a merchandising business that commences on the 1st November. Name your business and briefly
explain the product you are selling (please select only 1 product).
You will need to list 15 transactions for the month of November (no references are required). Ensure you include your initial owner(s) contribution, one
transaction purchasing inventory, a minimum of two transactions selling inventory, and expenses.
Further, you need to list 3 adjusting entry transactions at the 30th November relating to the month.
Setup a new retail trial balance in Excel. Commence your business as of 1 November 2023. Record your owner(s) contribution, purchases and sales of inventory,
and business expenses that you have listed above via the General Journal in Excel. (No specific word limit for this question)
Post the 15 transactions into Excel via the General Journal function
In your report include a brief description of your business and what it sells. (100 words)
Include a copy of your adjusted Trial Balance, Income Statement, Changes in Equity, and classified Balance Sheet in the body of your report. Include a brief
comment as to your business’ profitability (or not).
In an appendix to the assignment please include a copy of your General Journal entries for this question from Excel.
Explain the purpose of the Statement of Cash Flow and why it is important to a business.
Review your allocated publicly listed Morroco company, explain who the company is and its main business activities. Include an extract of their Statement of Cash
Flow and analyse the operating, investing and financing sections, individually, and draw a conclusion as to their overall cash position. This is not to be written in
financial investing language, rather you are to interpret the information similarly to the work we undertook in class.
Marking Rubric