King’s Own Institute
ACC203 Accounting Information
Trimester 2, 2016
Individual Assignment (25% in total)
A major component of the ACC203 course is the MYOB assignment that is an individual assignment
Your individual assignment will be assessed on three aspects of the assignment:
• MYOB Assignment: 18%;
• MYOB Work Activity Report: 750 words plus or minus 20% (5%); and
• Individual presentation based on MYOB assignment: (2%).
Students should report the progress of their MYOB assignment to the tutor by showing the completed chapters or parts of the MYOB assignment to the tutor in week 6.
Final MYOB Assignment is due by week 10.
MYOB Assignment (18%)
1. MYOB Assignment uses the Case and the Data of the Wendy Pabst & Brian Perrin (2011), Accounting With MYOB 19, 1st Edition, Cengage Learning, Australia. Please note that it is a large activity, taking up to 40 study hours to complete over many days or weeks. Please ensure you leave yourself enough time to complete this activity before its submission deadline:
• Buy MYOB book.
• Find MYOB software CD the inside of the back cover page of the book for Window Operation System or get “AccountEdge” MYOB software from KOI library for Mac Operation System. You can also download both trial versions from www.myob.com.au
• Install MYOB software to your computer.
2. Read the chapter 1, create new data file in chapter 2 and follow the instructions from Chapter 2 to Chapter 10 of the book. When you try to create company data file, disregard the serial number request of the MYOB software. As the MYOB software is a trial version, you do not need to enter the serial number.
3. Please follow the instructions of the book except for the followings of Page 13 of Chapter:
• Company Name: Put Your Student Full Name
• ABN: Put 116 plus your student number (should be 11 digit)
• Address: Your Address
Special care should be taken while entering the accounting year(2012), as this cannot be changed later on. MYOB assignments especially asks for a particular conversion month. Student should choose that conversion month(May) only.
4. Each chapter has Revision Exercise. Please Do not do Revision Exercise.
5. When you finish each chapter, please print the reports specified in the book , compare the results of the your printed reports and the results of reports of the book and sign at the bottom of each printed report as an evidence of completing the comparison of two reports before starting the next chapter. If two results of the reports are different, you should mark the different results on your printed reports, analyse the difference and write down the possible reasons of the difference.
6. You should also make the each chapter back-up based on version control full back up method, using the back-up method explained during the class or below:
• We assume you completed chapter 2 and start chapter 3: click file and exit on the MYOB command centre, then MYOB display “do you wish to back up?” message. Please click “No” and make the file name “yourname02” such as Richard Chang 02”
• When you try to start chapter 3, find the Richard Chang02. myo file and copy the file in the same directory. You can find TWO files such as Richard Chang02. myo and Richard Chang02copy. myo
• Click the Richard Chang02copy. myo, click the right button on your mouse and rename the Richard Chang02copy. myo to Richard Chang 03.myo
• Open Richard Chang 03.myo and start chapter 3 and repeat the above procedures again when you start new chapters. At the end you should have 9 back-up files
7. The assignment should include one title page and 9 chapter cover pages (chapter 2 to 10) in front of the printed reports of each chapter, and be tied tightly by binding or using plastic folders. Please do not forget to write your student number, name and course on the title page.
8. MYOB assignment is due by Week 10. Students submit both the paper-printed version and the USB stick to contain 9 MYOB assignment files (*.MYO) at the start of the lecture in week 10.
9. When students submit the paper-printed version to the lecturer, the lecturer will ask validation questions to the student to check whether the submitted MYOB assignment is the student own work or not.
10. In the past, we found that some students had copied other student’s work, changed name and format, printed and submitted the printed version , or copied word outputs, changed name and converted to PDF file. We remind you again that If we find the students who submits other students’ work with changed name and format , we will take action against the students.
Common Mistake
One of the most common errors is to enter the date in correctly. Though the student does not have any intension to enter the date in correctly it can happen. MYOB by default enters the current date. However the accounting MYOB assignment has transaction dates which relates to 2012. So this is a trap for the student and it is very likely that a wrong date is entered. Thus student should double check the date before entering it in to the system.
Go to the DATE SETTING on your computer to see the format of the date. Ensure that this is in the format DATE-MONTH-YEAR. If it is not in this format, then you should change the setting to this format, or else remember that it is not in this format, before entering any information. A common problem for students is assuming that the date setting on their computer will be DAY–MONTH–YEAR. However, it may be set as MONTH–DAY-YEAR and finding that transactions attempting to be entered on 13/7/2009 will not be accepted, is the first students know that their computer is set to the date setting MONTH–DAY-YEAR. At that stage there is no alternative but to start over again, losing all transactions entered. To set your computer so that DATE-MONTH-YEAR date format are used for your transactions, go to Control Panel and then to Regional and Language Options and change to DATE-MONTH-YEAR date format
To set your computer so that dollars are used for your transactions, go to Control Panel and then to Regional and Language Options and change to DOLLAR (Australian)format.
Enter opening balances as positive numbers. Don’t, for example, enter your liability account balances as negative numbers. Enter negative amounts only if accounts truly have negative balances. As a rule, these will be asset accounts that record accumulated depreciation. For example you have to enter the opening balance of the trial balance (page 27). The trial balance has two columns (debit and edit) The scree of MYOB balance has one column. Please enter -275, -4,410, -3,830, -11,940 in asset category and also enter -3,790 -21,500 in liability category. Please refer to 3rd, 4th and 5th paragraphs of page 26for detailed explanation.
When you creating Purchase or Sales invoices in MYOB, there is a tick box asking you whether the invoice is Inc. or Exc. GST, also when loading in price for products. It is another common mistake for students to forget to tick or untick the in the tick box, based on the information of the book.
You have entered an invoice twice in MYOB and closed both of them. You need to find out how to delete one of them, You are finding it difficult because it's already closed. Have to delete the payment that closed the invoice first. If you are looking at the invoice click on history then delete the line entry that has the payment that closed the invoice. Once you delete the payment, you will be able to delete the invoice.
MYOB Work Activity Report (5%)
You have to provide an individual work report on how you have worked to produce your MYOB assignment. Major part of your individual report is to practice “Audit Around the Computer Approach” and to prepare report. “Audit Around the Computer approach” is more often known as black box audit approach as shown below:

In your MYOB assignment, you enter input data in to the MYOB software based on the source documents (input) of the book, print the outputs (the reports) generated by MYOB software and then compare the printed outputs with the outputs of the book. If two results of the two reports are different, you should reconcile the different results
Periodic information such as starting, ending and printing dates of each chapter entries must be inserted into the correct section in chronological order, including causes and solutions of the problems. Particularly when you finish each chapter, please print the reports specified in the book and compare the results of the your printed reports and the results of reports of the book . If two results of the two reports are different, you should reconcile the different results on your printed reports and write down the possible reasons in your report.
The final report should use an appropriate business report format and should include a detailed description on (Times new Roman 12 point):
a. progress based on time spent on each chapter;
b. any issues or problems that have occurred or been managed in each chapter, including details of what the issues or problems (if there are difference between two results of the report produced by you and the report of the book, analyse the difference and write down the possible reasons of the differenc), how have been dealt with them and what have been done to fix the issue or the problems (how to reconcile the difference).
c. your achievement in your MYOB assignment
d. what work is planned for the next 3 months in getting MYOB related accounting job.

Individual Presentation (3%)
Presentation marks will be based on individual student performance at the presentation of your MYOB assignment based on the MYOB Work Activity in weeks 11 and 12 tutorials. If any student does not attend their presentation, the student will not get presentation marks unless a medical certificate has been provided
Presentation Rubric (2% in total)
Fluency/Style
Presenter
Name:
(minus 0.1 for each tick)
? too fast
? too slow
? too small to hear
? no clear voice
? monotonous voice tone
? not interesting and enthusiastic
? excessive ums and errs
? inappropriately dressed
? does not stand up straight
? no body language
(minus 0.4 for each tick) ? not eye contact with audience
(minus 0.6 for each tick) ? reads presentation
Comments (other possible improvements)

overall: ____/2%