BFA221 Accounting Information Systems Assignment

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Reference no: EM132379586

BFA221 Accounting Information Systems - Semester 2, 2019 Assignment, University of Tasmania, Australia

There are two parts to this assignment.

Part A - You are required to complete the Xero Case Study - Stanley Defence Parts Pty Ltd as shown in Appendix A.

Stanley Defence Parts Pty Ltd Xero Case Study

Steps to Complete this Case Study

Using the Assignment Case Study Xero Learn Template that has been emailed to your University Xero Login:

1. Complete the organisational and financial settings set up (NOTE: add your student ID number after the company name).

2. Upload the CSV file (CSV file supplied) with customer and supplier (contact) information.

3. Upload the CSV file (CSV file supplied) with the chart of accounts of Stanley Defence Parts Pty Ltd. (NOTE: Do not create any other accounts (except bank accounts in step 4) in the general ledger - when recording transactions use only the existing chart of account codes)

4. Create the two bank accounts.

5. Complete the payroll set up and add employee information.

6. Complete the fixed asset set up and add asset types.

7. Record the conversion date and then record general ledger opening balances at 1 July 2019, accounts receivable opening balances (invoices) at 1 July 2019 and accounts payable opening balances (bills) at 1 July 2019.

8. Upload the CSV file (CSV file supplied) in order to set up inventory items.

9. Perform procedures to record opening inventory quantities and total cost.

10. Create two categories: Submarine Parts and Patrol Boat Parts.

11. Record the transactions and adjusting entries for July 2019. (NOTE: Be very careful to record the transaction date correctly - Xero will pick up the system date on the computer you are using)

12. Business Bank Account Reconciliation - Upload the CSV file with the bank statement for July 2019 (CSV file supplied) and complete the bank reconciliation process.

13. Using the Reports function, prepare a trial balance for the month ended 30 June 2019. Export this as an Excel spreadsheet (DO NOT CHANGE THE FORMAT OF THE EXPORTED FILE IN ANY WAY. DO NOT ADD ANY DATA), save this to a storage device. This document is to be submitted through the MYLO assignment Part A submission folder.

14. Create an income statement that shows a column for Submarine Parts, a column for Patrol Boat Parts and a total column. Export this income statement as a PDF document and save to a storage device. This document is to be submitted through the MYLO assignment Part A submission folder.

15. Create a balance sheet that is formatted correctly. Export this balance sheet as a PDF document and save to a storage device. This document is to be submitted through the MYLO assignment Part A submission folder.

16. Upload the following as PDF documents to the MYLO Assignment Part A submission folder (in the order and format specified - marks deducted if not):

i. An unaltered Excel Spreadsheet version of the trial balance (NOT NEW) at 31 July 2019 as per step 13.

ii. Income Statement PDF document as per step 14.

iii. Balance sheet PDF document as per step 15.

iv. An aged accounts receivable summary at 31 July 2019 (PDF document).

v. An aged accounts payable summary at 31 July 2019 (PDF document).

vi. An inventory item summary from 1 July 2019 to 31 July 2019 (PDF document).

vii. A payroll employee summary for the month of July 2019 (PDF document).

viii. A fixed asset reconciliation for the month ended 31 July 2019 (PDF document).

ix. A business activity statement summary assuming the September 2019 quarter (PDF document).

x. A bank reconciliation summary for the business bank account at 31 July 2019 (PDF document).

Points to note with respect to this part:

1. You are required to complete this case study using the Xero Learn Template that has been emailed to your University email account through Xero Learn (BFA221 Assignment Template 2019). You will be assessed using this Xero Learn file (as well as the uploaded documents to MyLO).

2. There are ten separate documents that are required to be uploaded to your Assignment Part A submission folder by the due date and in the following order:

An unaltered Excel Spreadsheet version of the trial balance (not new) at 31 July 2019 (Excel Document)
Income Statement for the month ending 31 July 2019 PDF document
Balance sheet as at 31 July 2019 (PDF document)
An aged accounts receivable summary at 31 July 2019 (PDF document)
An aged accounts payable summary at 31 July 2019 (PDF document)
An inventory item summary from 1 July 2019 to 31 July 2019 (PDF document)
A payroll employee summary for the month of July 2019 (PDF document)
A fixed asset reconciliation for the month ended 31 July 2019 (PDF document)
A business activity statement summary assuming the September 2019 quarter (PDF document)
A bank reconciliation summary for the business bank account at 31 July 2019 (PDF document)

PLEASE NOTE: If the documents are not uploaded in the order specified and the format specified, marks will be deducted.

3. All of the financial information needed for completion of the case study is contained in Appendix A and four CSV files provided (one for the chart of accounts; one with contact information; one with inventory item information; and one for the bank statement (business account) at 31 July 2019).

4. You will be assessed using your Xero Learn Data File for the Assignment (viewable by teaching staff through the Xero Learn System) and the ten documents uploaded to the Assignment Part A submission folder.

Part B - You are required to complete the case study Derby Advanced Systems Pty Ltd as shown in Appendix B. This case study requires you to prepare a document flowchart for the picking, packing and shipping goods process of the revenue cycle of Derby Advanced Systems and then to write a short evaluation (no more than 500 words) of the internal controls in the picking, packing and shipping goods process.

Derby Advanced Systems Pty Ltd Revenue Cycle (Picking, Packing and Shipping Goods Process) Case Study

Required -

a. Prepare a document flowchart for the picking, packing and shipping inventory process of the revenue cycle of Derby Advanced Components Pty Ltd. This document flowchart must be completed using Microsoft Excel and uploaded to the Part B assignment submission folder on MyLO.

b. In no more than 500 words, evaluate the internal control of the picking, packing and shipping inventory process of Derby Advanced Components Pty Ltd. This evaluation must be uploaded to the Part B assignment submission folder on MyLO in either Microsoft Word format or PDF format.

Points to note with respect to this part:

1. You are required to prepare your flowchart document using Microsoft Excel.

2. Two files should be uploaded to the Part B submission folder by the due date:

Your document flowchart in Microsoft Excel format.
Your evaluation of internal controls in either Microsoft Word or PDF form.

3. With respect to the flowchart, this should adhere to the conventions of document flowcharts using appropriate symbols (see your textbook as the reference for the symbols).

4. With respect to the evaluation document, this should be in the form of a business report, but if the work of others is used in this report, it should be appropriately referenced using Harvard referencing methodology. The word limit for this report is 500 words.

Attachment:- Accounting Information Systems Assignment Files.rar

Reference no: EM132379586

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Reviews

len2379586

10/1/2019 12:30:08 AM

There are two parts to this assignment. This assignment is worth 20% of your final mark for this unit. Part A (15 % of final mark for unit) You are required to complete the Xero Case Study – Stanley Defence Parts Pty Ltd as shown in Appendix A. Part B (5% of final mark for unit) You are required to complete the case study Derby Advanced Systems Pty Ltd as shown in Appendix B.

10/1/2019 12:30:00 AM

Part A - Xero Case Study - Implementation has been carried out correctly with some minor errors in the set up process from a professional accounting practice standpoint. Regular cash and credit transactions were coded and processed to an exemplary standard within the allowable 2 errors. Required new general ledger accounts were created 100% accurately. New customers, suppliers, inventory items, employees and fixed assets were created 100% accurately. The design of the new account codes reflects apprpropriate reporting requirements with 100% accuracy. Payroll transactions were coded, classified and posted 100% accurately. Adjusting entries were carried out entirely corectly. Depreciation was carried out through the fixed asset module 100% correctly. All required reports were generated and they were formatted correctly (e.g. correct date ranges, correct version of the reports)

10/1/2019 12:29:53 AM

Part B - Flowchart and assessment of control case study - All document flowchart symbols used were appropriate to describe the business processes and document flows. The overall structure of the document flowchart was well designed. The document flowchart reflects the description of the business processes with only a few minor errors. Five internal control strengths and five internal control weaknesses were identified and briefly explained. Writing was well structured presenting a clear and concise argument. Adhered to English conventions to write a fluent report using appropriate vocabulary, grammar, punctuation, paragraphs, syntax, and spelling.

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