Reference no: EM133539084

Intermediate Corporate Accounting

Bobs E-Bikes
(Trading as BEB Pty Ltd)

Mr Robert Black has contracted ABC Group Accounting Services to assist him in keeping better financial records. He has decided he wants to use the Xero accounting system and is going to pay $5,000 to complete the following;
1) Set-up accounts in XERO.
2) Process the June 2023 transactions for the company.
3) Make the necessary adjustments/corrections as required with information provided. Any additional adjustments involves further consultation and may incur additional fees.
4) Provide a report as at 30/6/2023 outlining the financial performance of Bobs E-Bikes and make suggestions for improvement and/or items outstanding that may require further investigation.
5) Prepare a concise 5-8 minute video presentation for client outlining part 4 and other items you may wish to highlight to your client. (Eg. 2 minutes face and speaking time per student if group of 4 student).

[NOTE: A Professional Masters Level Presentation is required]

Assignment requirements

Using Xero (online trial account), Microsoft Excel and Word, students are required to:

1) Set-up a company in XERO with opening conversion balances as provided on 31st May 2023. Do not change these May balances make all adjustments in the month of June.

2) Process all the transactions listed for the month of June 2023 in Xero.

3) Students are to make all the necessary assumptions, corrections and recommendations as required. This is part of decision-making and part of the assessment.

4) When entering transactions, to ensure students/groups are completing the work themselves each group must do the following as a part of data entry (or upload file if applicable);

a) The organisation name when set-up should include ONE students ID in the title [EG: BEB Pty Ltd (1853365) ]

b) Each new transaction for June must include the student ID in either the "Reference, Notes, Description, or Narration" sections to the transactions as outlined in the accounting technologies lab sessions. Any student ID is acceptable as long as it is an ID of a member of the same group.

c) IMPORTANT: Failure to comply with a) and b) above may result in a grade reduction of a minimum of 20% for failing to follow instructions. Further, students will be closely reviewed for collusion/misconduct.

5) Prepare a concise report for the Managing Director explaining the financial performance of the company. The report should follow the format of an Executive Summary and should be no more than 2 pages (using 1½ spacing and size 11 font). Financial statements must be included in the report and shown in an Appendix to support the Executive Summary. The Appendix is in addition to the 2 pages.

6) This assignment is a group assessment with 2-4 members. Groups of 4 students are preferred. Students can only complete as an individual with permission from the Unit Coordinator.

7) Students should enrol in a group online. Only 1 group member is to upload the final assignment through the group submission point and the Turnitin link provided. (ie 2 uploads required)

8) Group Cover sheets are required and will be on Blackboard.

9) Students are to assume they need to submit any relevant documents that may be required as if this was a "real paying client" and consulting contract.

10) Bonus marks up to 5 marks may be achieved for excellent submissions where students go above and beyond their peers and marker expectations. That is you could receive 45/40.

11) Students are to submit the following:

a. 1 x PDF file or Word file with signed group assignment coversheet (unless individual then individual coversheet), that includes Executive Summary (2 pages) and Appendix with final financial statements and other reports as listed in the marking guide along with any notes that would be submitted to the managing director and any other documents deemed necessary to fulfil the contract.

b. As per note 8 above upload each other student to upload a coversheet to your student ID.

c. IMPORTANT: Students who fail to submit the 2 reports - Detailed Account Transaction Report & Account Transaction Report from 31st May 2023 to 30 June 2023 (sorted appropriately) risk receiving ZERO for the assessment as the marker may be unable to track transactions.

d. Students are reminded that they will lose all data in their trial account after 30 days. Students should make sure they download all relevant information in case the marker requires a student/group to validate their submission with further evidence. Further, teaching staff may ask for access to review your Xero file prior to final submission.

Attachment:- Intermediate Corporate Accounting.rar