Record transactions for a fictitious business for one month

Assignment Help Financial Accounting

Reference no: EM133773881

Financial Accounting

Assessment - Xero Assignment

Simulation

Your Task

The assessment has two requirements:

Part A: XERO Case Study

You are required to record transactions for a fictitious business for one month and prepare the necessary reports.

Part B: In-class presentation

You are required to conduct an in-class pitch to a prospective client, demonstrating how the accounting process can be more efficient and effective.

Assessment Description

This assignment has two parts:

Part A: Enter all the transactions on Xero for one month for a fictitious business. You must carefully read the case study documents available on MyKBS and follow all the instructions. You must also watch the videos provided. Once you have entered all the transactions, you must prepare the following reports and submit a PDF copy on MyKBS (via Turnitin).
Accounts Transactions Report for July 2024
Trial balance as of 31 July 2024
Profit and Loss Statement for the month ending July 2024
Balance Sheet as of 31 July 2024
Screenshot of the assurance dashboard

Part B: After completing the above reports, you are required to identify area/s of improvement for this business and provide a recommendation on how the business could make its processes more efficient and effective. To do this, you are required to explore the Xero App Market Place and identify three applications (within the same category) that the business should adopt. Your evaluation should include a comparison of the various features of these applications and a summary of the expected annual cost. You must also provide a final recommendation. You are required to deliver a 5-minute in-class presentation.

Assessment Instructions

You must attend the Xero workshop in Week 7. Your facilitator will explain the essential requirements of this assessment, highlight the pitfalls to avoid and discuss how to conduct the Xero pitch.

To activate your subscription, you must accept the XERO invite sent to your email ID and create a XERO account.

If you do not accept the invite, it will expire in 14 days, and you cannot access the Xero application to complete the assignment.

Complete the steps below in the week 7 workshop to start Part A, the Xero case study.

Step 1: Accept the XERO invite.
Step 2: Create a Xero account to activate your Xero subscription
Step 2: Set up 2-factor authentication.

Review the videos uploaded under the Assessment 3 section on LMS.

Complete all the requirements mentioned in the XERO case study document and upload the reports as a single PDF file on the Turnitin submission link.

For Part B - XERO pitch, use visual aids like PPT (PowerPoint) slides and limit the presentation to a maximum of 5 minutes.

Instructions on the use of GenAI/ChatGPT for this assessment
For this assessment, using GenAI is optional.

Use the ideas/information generated by GenAI after cross-referencing them with other reliable sources. You must reference all resources used including GenAI (Referencing).

Reference no: EM133773881

Questions Cloud

What hr policies can you implement to overcome problems : MGT 3210- What solutions do you propose? How can you navigate these issues? What HR Policies/practices can you implement to overcome these problems?

Social media to reach target markets : A marketing firm tasked its youngest employees with teaching its established, managerial employees how to use social media to reach its target markets.

Where do you see yourself and your life in ten years : Where do you see yourself and your life in ten years? Where will you be living? Where do you hope to be in terms of your career goals at that time?

How did feelings of control affect perception of stress : How did feelings of control affect perception of stress? What kinds of things did you do to try to reduce the stress? Did they work?

Record transactions for a fictitious business for one month : You are required to record transactions for a fictitious business for one month and prepare the necessary reports

What do you think about the a cappella form of singing : What do you think about the a cappella form of singing? Why is this a powerful mode of presentation? How does it help convey Keedron's message?

Evaluate the potential drawbacks of utilizing a gig economy : Evaluate the potential drawbacks of utilizing a gig economy with non-employees in lieu of current employees.

Artificial intelligence and operations management : AI and Operations Management How can artificial intelligence (AI) be leveraged in operations management to optimize processes

What happens to the order quantity and total inventory cost : What are the optimal order quantity and the total inventory cost for Cyclorama? What happens to the order quantity and total inventory cost as demand increases?

User Account

All Pages