Assessment item 2
Assessment Item 2
Due date: 11-May-2016
Return date: 02-Jun-2016
Submission method options
Alternative submission method
Task 2 covers study schedule weeks 5-12 inclusive
Q2-1 Naming cells in spreadsheets
In a spreadsheet cell references can be replaced with names. Then the formula can use the names rather that cell references. Paste an example, using simple numbers, of Sales revenue less Expenses = Net Income.
Q2-2 Negative numbers
Create a simple spreadsheet example of Sales revenue less Expenses to give Net income where Expenses are greater than Sales revenue. Display the negative result in brackets. Also incorporate an IF function.
Q2-3 Spreadsheet replication
How can spreadsheets be designed so as to save effort with using the same spreadsheet month after month? Give a simple spreadsheet example.
Q2-4 IF functions
Find and briefly describe a youtube that explains the 'IF' statement (function).
Q2-5 Spreadsheet apps
Microsoft Excel is an example of spreadsheet software. List five further examples of spreadsheet software.
This group of questions above can be answered from any source including internet resources.
Q2-6 Perpetual versus Periodic systems
Watch the 3 videos on Inventory in Interact2 Resources. Explain the essential differences between perpetual and periodic inventory systems. Give examples of products/situations suited to each.
Q2-7 Journal entries
Watch the 3 videos on Inventory in Interact2 Resources. Show the journal entries for perpetual inventory and periodic inventory systems for the purchase, sale of inventory and end of period stocktake.
Q2-8 Worksheet and financial reports
Watch the Foot Worksheet video in Interact2 resources. Download the relevant doc file also in Interact2 resources. This doc file has a template of the example below.
A. Create a spreadsheet solution showing the data entry area, the worksheet and the financial reports.
B. Create a new set of data and reports. Change every number and enhance/improve the example to prepare a ten column spreadsheeted worksheet and the Financial Reports. Do not create journal entries or ledger accounts. Ensure your trial balance still balances after your data changes.
Follow the spreadsheet requirements including a separate data entry and report area and implement IF functions wherever appropriate. Paste two normal views and one formula view.
C. Write a business report pointing out that corporate spreadsheets sometimes contain errors. Use resources on the Internet to enhance your report.
Use the following resources to help you prepare and format your report:
Q2-9 Accounting principles and Inventory
List and explain three accounting principles or concepts relevant to inventory. Give your own examples. Reference your text (8th edition).
Q2-10 Inventory flow assumptions
List and briefly explain LIFO, FIFO and Average cost. Reference your text (8th edition).
Q2-11 Application of Inventory flow assumptions.
Create a well-designed spreadsheet to solve the following. Create a second version with the cost per unit decreasing during October. Paste the two solutions and one formula view. Highlight your changes.
Q2-12 Thinking about internal control issues.
Define phishing, Trojan horses, firewalls and encryption. Reference your text (8th edition).
Q2-13 Bank Reconciliation
A. Write a brief introductory scenario and create your own bank reconciliation spreadsheet. Use the text example on page 377 as a template but use your own numbers. Your spreadsheet will demonstrate all the usual spreadsheet requirements.
B. What is included as Cash in the Balance sheet? Reference your text (8th edition).
Q2-14 Journalising accounts receivable entries.
Using the text (8th edition) as a resource, show the journal entries needed for:
1. sales on credit,
2. the collection of part of the amount owing,
3. the write off of a bad debt,
4. the reinstatement of an amount written off and
5. the collection in full of the amount owing.
Create your own numbers. A spreadsheet is not required.
Q2-15 Estimating bad debts
Describe the Aging of receivablesmethod. Create a simple example.
Q2-16 Credit and Debit cards.
Distinguish between credit and debit cards. How may a retailer show credit card sales? Show two different sets of journal entries.
Q2-17 Percentage of sales method
Following are some selected transactions of D Mart (DM) during 2014 and 2015. Reporting date is 31 December. DM uses the allowance method and makes adjusting and closing entries on the reporting date.
1. Record the transactions in the general journal and post to the two ledger accounts. See the template below.
2. Open general ledger T accounts for Allowance for doubtful debts and Bad debt expense. All accounts begin with a zero balance.
3. The 31 December 2015 balance of Accounts receivable is $600,000. Show how Accounts receivable would be reported on the balance sheet at that date.
Here is a template for the data section of the spreadsheet showing the transactions.
Q2-18 Dishonour of a note receivable
Write a set of T accounts which includes:
1. a credit sale,
2. a conversion to a Note receivable,
3. the dishonour of the note and
4. subsequent delayed payment.
Create your own simple numbers. Ignore interest.
Q2-19 Account classification
What kind of account is?
2. Allowance for bad debts,
3. Accumulated depreciation?
5. Explain each. Refer to the P A L E R mnemonic.
Work Integrated Assessment case study
Qantas Annual Report
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 2015 Annual Report for Qantas.
Your friend Tom is studying architecture at another University and knows very little about accounting and annual reports. Tom's uncle gave him $30,000 recently to invest. Tom knows you have begun studying accounting and is considering buying Qantas shares. Tom has some questions for you.
Present your answers concisely in a business report format.
1. How many shareholders does Qantas have?
2. What are the total revenues for 2015?
3. Identify the amounts and explain: Intangible Assets, Revenue received in advance, Retained Earnings.
4. Calculate the Working Capital ratio.
5. Using any data from the annual report, create a chart in Excel showing 3D columns and another showing a line graph. Paste the spreadsheet graphs in your assignment. Show the data area.
6. Summarise your advice to Tom re the investment decision.
Find the Qantas 2015 Annual Report on the web.
The learning outcomes for assignment 2 include the application of conceptual and technical aspects of accounting and the preparation of business financial statements; the appraisal of the use of information technology including spreadsheet software in accounting problem solving, and evaluate the Internet as a professional resource; to demonstrate relevant business communication skills including report writingand to explain the importance of ethics in accounting.
Assessment task 2 is designed to give you further opportunity to demonstrate knowledge and skills in more in-depth aspects of accounting and information systems. Expected learning outcomes include bank reconciliation, Internal control, inventory systems, financial reports, accounting for bad debts and notes receivable, as well as concepts and the application of spreadsheet software to the presentation and solution of accounting problems.
Marking Criteria Rubric Assignment 2
A rubric is a form of authentic assessment. A rubric lists a set of criteria, which defines and describes the important components of the work being planned or evaluated.http://us.iearn.org/professional_development/multimedia/assess/rubric.html
This marking criteria rubric indicates how the assignments will be assessed in this subject.
Your assignment consists of different question styles including discussion questions, reports, exercises, problem questions and spreadsheet questions.
Criteria High Distinction Distinction Credit Pass
Marking criteria for expected learning outcomes to be achieved include: evaluating digital resources, understanding and applying the double entry system, work integrated assessment, creating computer models to solve decision situations such as worksheets, critical evaluation of financial reports, business report writing and creating graphs from real world data. Be the result of your original work, complete without any omissions and correct.
Discuss all the issues raised in questions.
Provide examples where appropriate.
Accurate answers complying with all spreadsheet modelling requirements. Score 85-100% Be the result of your original work, be mostly complete without any omissions, and be mostly correct.
Discuss most of the issues raised in questions.
Provide some examples where appropriate.
Comply with the majority of spreadsheet modelling requirements as appropriate to the problem scenario. Score 75-85%. Be the result of your original work, be mostly complete with few omissions, and be partially correct.
Discussion of some of the issues raised in questions.
Provide examples where appropriate.
Comply with some of the spreadsheet modelling requirements as relevant to the problem scenario. Score 64-74% Be the result of your original work, be mostly complete with some omissions, be partially correct.
Discuss some of the issues raised in questions.
Provides 1-2 examples where appropriate.
Comply with some spreadsheet modelling requirements as relevant to the problem scenario. Score 50-64%
Academic writing skills. The discussion and business reports meet academic standards of syntax, vocabulary, spelling and punctuation and reflect an awareness of audience needs Accurate use of syntax, spelling and punctuation; logical arguments with relevant examples, correctly refers to a variety of sources to support arguments, including the prescribed texts and a range of additional readings; reference list of a range of resources, correctly formatted using APA style. Accurate use of syntax, spelling and punctuation; logical arguments with useful examples, succinct and effective use of vocabulary; correctly refers to a range of sources to support arguments, including the prescribed text and a variety of further readings; reference list of a range of relevant resources used, correctly formatted using APA style. Mostly accurate use of syntax, vocabulary,
spelling and punctuation; correctly refers to more than the minimum requirement of sources to support arguments, including
prescribed texts and other sources; reference list formatted in APA style, with few or no errors. Mostly accurate syntax, spelling and punctuation; correctly refers to minimum number of sources to support arguments, including prescribed texts; reference list used, formatted in APA style, with few errors.
Your assignments will be marked as a whole with recognition being given to application of knowledge, quality thinking and application of skills. For some questions, students have a chance to demonstrate some creativity, or provide their own examples or give evidence of wider reading or structure a spreadsheet in an innovative manner. We also need to avoid the snowballing effects of cumulative errors - that is, an error early in a practical question which carries through. Thus a marking system is used with deductions for errors and omissions. Full marks are possible for well structured, complete, quality answers.
The marking criteria for your assignments will be based on the content of the subject as identified by the learning objectives of the various topics. Good spreadsheet answers will comply with the assignment requirements.
Any assignments with significant evidence of plagiarism may be referred to the university's academic misconduct processes and will receive a grade of zero.
Normal distribution curves for grades are not utilised in this subject. Penalties will apply for late submission at 10% of the total mark available per day. It is important that submitted assignments are complete; omitted answers will result in mark deductions. Refer to the University regulations contained in the CSU online handbook for matters pertaining to special consideration, misadventure and extenuating circumstances, academic misconduct, code of conduct for users of electronic facilities, assessment regulation, grading scale, progression and academic performance, grade point average, examination regulations and other matters pertaining to assessment. The regulations can be found at the University's web site: http://www.csu.edu.au
Here is a guide to the expected effort for each question in assignment 2. See the presentation requirements for an indication of the specific criteria. See the assignment requirements particularly for expectations regarding the spreadsheets.
An example of marking criteria for an essay/business report follows. Some of the same criteria apply to larger discussion style questions and case studies and business reports.
Example criteria used in marking essays/discussion questions/case studies/business reports
While there is no particular format required for these answers, the following criteria are likely to be used. Note that business reports are normally more structured than essays.
• Relevance of the answer. Are the important issues raised in the question identified? Did the student answer the question?
• Critical capacity. Has reference material been carefully analysed or critically accepted?
• Structure of the answer. Is the answer well-structured and the argument logically developed?
• Writing style. Is the style concise and lucid or confused, making it difficult for the reader to get the point?
• Scope of reading. Does the answer indicate a satisfactory coverage of literature relevant to the questions?
• be well planned with arguments flowing logically;
• use correct sentence structure, punctuation and spelling;
• present original ideas where appropriate;
• and present a justified conclusion and acknowledge all sources.
Normal distribution curves for grades are not utilised in this subject. Penalties will apply for late submission at 10% of the total mark available per day. It is important that submitted assignments are complete. Omitted answers will result in mark deductions. Refer to the University regulations contained in the CSU online handbook for matters pertaining to special consideration, misadventure and extenuating circumstances, academic misconduct, code of conduct for users of electronic facilities, assessment regulation, grading scale, progression and academic performance, grade point average, examination regulations and other matters pertaining to assessment. The regulations can be found at the University's web site: http://www.csu.edu.au
Important!! See the presentation requirements for assignment task 1
Assignments must be submitted through turnitin. A hard copy submission is required addition to turnitin submission. Further details about submission are provided in Appendix 1.