Prepare a number of financial reports

Reference no: EM132310920

The accounting practice set is a real world simulation of a single month in the accounting cycle of a small business. In this context, the word "practice" does not mean "a casual attempt", but rather an opportunity to demonstrate your accounting skills in your own simulated "accounting practice". This particular practice set will give you practical experience in using contempory accounting software, by taking you through all of the steps involved in the accounting cycle for a small business.

This practice set adopts a computerised approach, which means it requires you to complete the accounting cycle using the well-known accounting software package called MYOB. To complete this practice set, you will therefore need the practice set itself from Perdisco, as well as access to the MYOB accounting software (please check which version of MYOB your practice set is written for and use the correct version - As of publishing this, the practice set requires you to use MYOB AccountRight Plus Version 19). This software is separate to the practice set itself and, if you have access to the appropriate version of MYOB by other means, you are not required to purchase it from Perdisco. Please note that MYOB has designed the required version of the software to run only on Windows operating systems.

The practice set from Perdisco provides you with a unique accounting scenario involving a series of unique transactions. It will provide you with instructions and other resources including a Student Companion and Helpful Hints document to help you complete the practice set. This document will significantly guide you through the exercise. At various stages throughout the accounting cycle, the practice set will prompt you to submit output from the MYOB software online through the Perdisco website. You will then be provided with immediate feedback on your performance based on accuracy and completeness.

By the conclusion of the practice set you will have obtained real-world experience in using MYOB accounting software to:

• Create and setup a company in MYOB;
• Record transactions;
• Perform reconciliations;
• Prepare a number of financial reports; and
• Understand the benefits of using a computerised accounting system, which include the automatic posting of transactions.

Attachment:- MYOB ASSIGNMENT.rar

Reference no: EM132310920

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len2310920

5/23/2019 9:58:29 PM

Although the assessment task is completed in MYOB and online through Perdisco, and is marked automatically, you are required to submit your MYOB file (file name ends in ".myo") to Moodle by the due date of 5pm Friday the 31" of May. Please submit your MYOB file using the Assessment Task 2 assignment submission link on Moodle. If you are completing the assessment task in a group, only one submission is required. Please ensure the names and student IDs of both members of the group is used to name the file. The purpose of requiring students' to submit their MYOB file is to enable the lecturer to check that the work completed is their own. The lecturer may call students in to demonstrate in MYOB that they have completed the practice set themselves. Students that fail to submit their MYOB file through Moodie will be given zero marks.

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