Briefly describe the accounting cycles

Assignment Help Managerial Accounting

Reference no: EM131469448 , Length: word count:2000

Gourmet Cake is a business that has a passion for creating delicious and fabulous celebration cakes. Jane, the owner of the Gourmet Cake, will start her business in August this year. She plans to have over 100 cakes on display in her South Melbourne shop. These include christening, birthday, wedding, anniversary and cupcakes. These cakes can be tailored to suit customers' budgets. All cakes are made fresh in the shop. Jane and her staff will take care of everything from the initial consultation to the baking, decorating and delivery or collection of customers' order. Jane plans to take customers' orders on the phone when she starts the business. In the near future, customers can order their cakes online. Jane has requested your IT consulting team to set up the accounting information systems for her new shop. In this project, your team is asked to do the following tasks for Gourmet Cake.

A. Write a proposal for Gourmet Cake's Accounting Information Systems. In your proposal, you should include the cost of the software systems, technical requirements, implementation and training strategy, cost of annual maintenance and support.

B. Briefly describe the accounting cycles, e.g. revenue cycle, expenditure cycle etc in your designed accounting system.

C. Provide samples of statements of financial position, financial performance and a cash flow statement for these reports which will be generated by your accounting systems in future. List all these sample statements in the Appendix section of your proposal.

D. Provide a chart of accounts which supports above financial reports in the Appendix section of your proposal.

Format
1. quote the reference in Harvard Style format
2. Report Style

Attachment:- Managing Accounting Information lecture.rar

Reference no: EM131469448

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Reviews

len1469448

4/21/2017 4:39:07 AM

LO2 Use of academic and accounting discipline conventions and sources of evidence Expertly written and adheres to the academic genre. Demonstrates expert use of high-quality, credible and relevant research sources to support and develop arguments and position statements. Shows extensive evidence of reading beyond the key reading. There are no mistakes in using the Harvard style for referencing.

len1469448

4/21/2017 4:38:52 AM

LO3 Financial Statements LO3 Create data File Shows a fully understanding of the elements of the Financial Statements or how to interpret the information contained on the Financial Statements. Shows a fully understanding of the accounting software, implements appropriate accounts, items, vendors and customers more than required.

len1469448

4/21/2017 4:38:41 AM

LO2, LO3 Accounting Cycle Through entering accounting transactions, shows a well-developed understanding of the accounting cycle. Through entering accounting transactions, shows a well-developed understanding of the accounting cycle more than required.

len1469448

4/21/2017 4:38:29 AM

LO1, LO5 Proposal Level 4 (e.g. DI) Level 5 (e.g. HD) Shows a well-developed understanding of accounting related terminology, GAAP, or understanding accounting's role and function in business practice. Shows an excellent accounting related terminology, GAAP, or understanding accounting's role and function in business practice.

len1469448

4/21/2017 4:37:49 AM

Length and/or format: about 2000 words Format 1. quote the reference in Harvard Style format 2. Report Style Marks will be allocated as below. Proposal [6 marks] Accounting Cycle [6 marks] Financial Statements [3 marks] Create data File [3 marks] Use of academic and accounting discipline conventions and sources of evidence [2 marks]

len1469448

4/21/2017 4:37:26 AM

?Very High-Quality Work Needed? ?Client Requirements as under:? Hi See the attached assessment which is managing accounting system, it needs 2000 words. Reveret if you can do it and deliver as per the timeline mentioned. See also the marking rubrics. The grade required is Exceeds Expectations, level 5 or minimum level 4, which has to be assured. Revert in order to take it ahead.

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