AC4006 Fundamentals of Business Accounting Assignment

Reference no: EM133055412

AC4006 Fundamentals of Business Accounting - University of East London

Learning outcomes
Demonstrate an understanding of the context within which accounting operates and through which it relates to the business environment.
Explain the nature and purpose of cost and management accounting.

Describe costs by classification and behaviour and understanding of basic cost and management accounting techniques.

Explore and interpret underlying concepts, methods, analytical tools and principles in the assessment of business and financial problems including, where appropriate, handling numerical or other data.

Explore the costing techniques studied within the module, discuss critically the assumptions made, and interpret the results obtained.
Prepare financial reports for user groups.

Demonstrate an understanding of the financial implications of various facets of the accountant's work.

Work individually and in small group to reach a cogent judgement appropriate for use in reports.

Demonstrate appropriate use of technology to communicate effectively in writing using Word processing and using Excel spreadsheets to carry out calculations.

Details of the task

Happy Ltd operates in the United Kingdom (UK) and sells Product A - a perishable food item, which is ordered from suppliers. They also specialise in the manufacture and sale of Product B. As a recently established company, they are seeking a team of financial accountants to assist with their financial and management accounting procedures. The company's management has heard about key terms in both Financial and management Accounting,

As a new Accountant within the Financial and Management Accounting department at Happy Ltd, the CFO has asked you to prepare a report for the next board meeting.

Discuss the books of prime entry in details, and provide examples of each.

Briefly discuss statement of the financial statements and provide examples of each.

Differentiate between financial and management accounting.

Briefly discuss five qualitative characteristics of financial information.

Discuss the advantages and disadvantages of sole proprietor and limited liability company.

6. Discuss the classification of costs by illustrating them with diagrams.

7. Discuss the difference between absorption costing and marginal costing approaches and provide examples of each.

Assignment instructions

Structure
You have been asked to produce a report. It should contain the following:
Title Page, including the given title in full.
Abstract (No more than 50 words)
Contents Page
Introduction
Main body, which should also be organised under appropriate headings.
Conclusion & recommendations
Appendices, which should be numbered.
Make sure you refer your reader to them as required.
Word count; excluding appendices and references list.

Presentation
Your work should be word processed in accordance with the following:
Font style, Times New Roman, font size 12
1.5 line spacing.
The page orientation should be ‘portrait'
Margins on both sides of the page should be no less than 2.5 cm
Pages should be numbered
Your name should not appear on the script.

Harvard referencing style

Attachment:- Fundamentals of Business Accounting.rar

Verified Expert

The current solution is based on Financial and Management Accounting. The total word count of this solution is more than 2500 words and the references are provided in Harvard format. The solution is submitted in a Microsoft Word document file. All the content present are free from plagiarism and is according to the given instructions and rubrics.

Reference no: EM133055412

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