ACC 407 Fundamental Financial Accounting and Reporting

Assignment Help Financial Accounting

Reference no: EM133067714

ACC 407 Fundamental Financial Accounting and Reporting

Accounting Simulation Project

OBJECTIVE:
Interpersonal skills refer to a range of skills which, amongst others, include interactive communications, relationship and collaborative skills in managing relationship in teams. This assignment is designed to enhance the students to demonstrate interpersonal skills in tasks related to accounting simulation project.

INSTRUCTIONS:

1. Assuming you are planning to set up a sole trading business selling finished goods (name your product) to customers in Shah Alam area (you can choose any area).

2. Create possible business transactions between your business and suppliers and also between your business and customers.

3. You should create about 20 - 25 business transactions. The business transactions should include at least:
a. 4 credit transactions for trading activities
b. 2 return transactions
c. 4 cash transactions relating to trading activities
d. 2 drawing transactions
e. 2 logical operating expense transactions
f. 2 other revenue transactions
g. Other transactions

4. Your report should include the following information:
a. Introduce the business background (including capital contributed, name of the business, address, type of goods sold,etc)
b. Accounting transactions
c. Specialised journals
d. Subsidiary ledgers account
e. Trial Balance as at that date.

5. Report format
a. Cover page
b. Acknowledgement
c. Table of content
d. Introduction
e. Content
f. Conclusion
g. Bibliography or references
h. Appendix

6. Important notes
a. The assignment must be typed with the minimum of 10 pages excluding appendices.
b. Font type/size: Arial 11/ Times New Roman 12
c. Line Spacing: 1.5

Attachment:- Accounting Simulation Project.rar

Reference no: EM133067714

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