Record the first months transactions before printing

Reference no: EM131611126

Question 1 - Saasu Task 1

You are working as an accountant in a regional accounting firm and have been approached by the owner of a start-up retail business. They have chosen Saasu as their accounting system and have asked you to set up their business in Saasu and enter the first month's transactions for December 2016. You will use Saasu to enter a range of transactions and print some reports to assist with the business start-up. All information has been supplied by the business owner for you to input.

The set up and transactional data will be provided in Interact 2 in the Assessment folder in Resources.

Required: Record the first month's transactions before printing and submitting the following reports for December 2016 (either print to screen or print and scan as an electronic file). Marks will be awarded for the correctness of information as well as the standard of presentation of your assessment.

1. Profit & Loss - Summary

2. Balance Sheet

3. Transaction by Account

4. Accounts Payable

5. Accounts Receivable

6. Inventory Item History

Question 2 - Saasu Task 2

Using the information compiled above, prepare a short 600-750 word business report that covers the following:

Advice to the business owner on how their business has performed for the month of December with particular focus on the profitability of the business. Include relevant ratios in your analysis.
Based on your analysis, provide the owner with 5 recommendations to improve profitability.
What additional reports could be run at the end of the month to assist business decision making? Provide details of how the identified reports could assist the business.

Question 3 - Business Process Modelling

Diva Designs is a supplier of high quality, fashionable women's dresses to retail businesses. Diva Designs has hired you to review their Accounts Receivable Department. The organisation is looking to improve efficiencies in this area. To make any recommendations, you must first understand the current process being undertaken. A transcript of your interview with the Accounts Receivable Manager is provided in Interact 2, in the Assessment folder in Resources.

Using that transcript and an applicable system tool, create a Level 0 logical data flow diagram to document the existing system for the accounts receivable process.

A system tool includes software such as Word, Excel, Smartdraw or Edraw. There are many tools that are available to trial for free on the internet.

Rationale - This assessment task is designed to enable you to demonstrate your ability to:

understand and apply foundation principles relating to computerised information systems in contemporary organisations; and
evaluate accounting information system architecture and generate models of business events.

Reference no: EM131611126

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Reviews

len1611126

8/23/2017 8:40:59 AM

An outstanding level of skill demonstrated in set up and processing of accounting transactions including: correct accounting classifications with accurate coding; correct naming applied to all new accounts and items; outstanding data entry; no errors; and follows all specifications. Outstanding analysis of the processes and profitability of the business, by business segment, using appropriate financial ratios where applicable. Identification of 5 outstanding recommendations and provision of explicit actions to improve profitability. Identification of more than 3 new suitable month end reports with outstanding justification of their value for decision making purposes. Appropriate selection and outstanding use of a system tool.

len1611126

8/23/2017 8:40:52 AM

Creates an outstanding model of Diva Designs business processes including; at the correct level from the information provided; consistent application of correct symbols; use of the narrative provided to accurately document the existing system from order to cash. Outstanding use of syntax, spelling and punctuation; succinct and effective use accounting terminology. Outstanding report presentated, in the correct format.

len1611126

8/23/2017 8:40:47 AM

Question 1 - Saasu Task #1 Your financial reports need to be presented as though you are providing them to your client. They should be neat, easy to read, in the correct order and in an appropriate format. Question 2 - Saasu Task #2 Presented as a business report which is being provided to the owner of the business. Guidelines regarding how to write a business report can be found in Interact 2 under Resources, Assessment Items. Question 3 - Business Process Modelling Must be presented using a system tool. This can include software such as Word, Excel, Smartdraw or Edraw.

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