Task

Presentation

• Please read this in conjunction with the assignment requirements below.
• Single spacing and small margins are welcome to save paper.
• For any business report style questions a report structure is expected.
• Provide references throughout your assignment including page references to texts, articles, CSU study materials and URL's of websites.
• APA is the referencing style used by the Faculty of Business but in this subject I am not too fussy about the style of referencing used, as long as you acknowledge ALL sources used.
• Reference throughout your assignment AND at the end of your assignment include a complete Bibliography (Reference List) of resources actually used including the Internet, textbook, Study Guide, Software help files and videos supporting this subject.

Assignment task No. 1

Q1-1 Plagiarism
Search the Internet and find two definitions of plagiarism. Discuss. Why is plagiarism/collusion unfair to honest students?

Q1-2 Pasting spreadsheets in doc files

Paste simple examples of two different methods of pasting spreadsheets in a word doc file. Show row and column headings, the normal view and the formula view.

Q1-3 Accounting resources on the Internet
List four web sites relevant to accounting together with their URLs. Explain how each is relevant to accounting.

Q1-4 Second Life

Find this URL. http://www.journalofaccountancy.com/Issues/2008/Jun/AccountingforSecondLife.html

How is Second Life used by the accounting profession? (about 150 words)

Q1-5 Work Integrated Assessment (about 300 words). Describe the computing environment in your current or previous workplace or home office - equipment, software, processes etc. If this is a task you cannot undertake, explain why you cannot - and as an alternative task, describe the history and evolution of the Internet.

The above five questions are designed to assess your ability to use and evaluate digital resources for accounting and can be answered from any source including the computer sections of magazines and newspapers or by access to the Internet. If using the Internet include the URL reference. For the purposes of this subject we do not require the URL date of access.

Q1-6 ABC Learning and ethics - ABC Learning Case Study

Watch the six CPA ABC Learning movies.
http://www.cpaaustralia.com.au/professional-resources/education/abc-learning-collapse-case-study
or
https://www.youtube.com/watch?v=YYF6JW9vJKo&list=PL12C0ADD577F6B741

Write a business report on accounting aspects of each of the movies making up this case study. Include a summary of different types of financial reports and ethical issues (about 400 words)

Q1-7 Understanding the accounting equation

Sources = Uses. Explain how this equation affects the relationships with increases and decreases in PALER. Refer to section 2.2 of the topics in Interact2 (or the corresponding Topic PDF's in the Resources section).

Q1-8 Balance Sheet Equation
Spreadsheet required.

Note that Interact2 resources including the Spreadsheet Advice PDF and the worksheet video may assist in completing this assignment question.

In this case the Report section will look just like the data section but will contain only formulas. In some cases the cells in the report will be, for example =D8. The yellow highlighted cells will contain the answers.

Q1-9 Assets, liabilities and owner's equity

Give 3 examples each of assets, liabilities and owner's equity (Proprietorship) accounts.

Q1-10 Chart of accounts

See your text - 6th edition page 56. What is a chart of accounts? Explain a typical account numbering system.

Q1-11 Debit and credit balances

From the following list of accounts identify those with normal debit or credit balances.
1. Cash
2. Accounts receivable
3. Accumulated depreciation
4. Prepaid rent
5. Wages accrued
6. Accounts Payable
7. Commission received in advance.
8. Drawings

Q1-12 Trial balance
A. Create a manual solution using pen and paper. Scan or take an e-photo and paste in your assignment.
B. Create a spreadsheet solution. Paste normal and formula views.
C. Change 4 numbers such that the trial balance still balances. Paste this new normal view. There should be no need to paste a new formula view. Ensure that you choose the 4 changes yourself. Highlight the data changes with the yellow highlighter in Excel.
Note that Interact2 resources including Spreadsheet Advice and the worksheet video may assist in completing this assignment.

Q1-13 Cash and accrual accounting
What kinds of businesses might use cash accounting? Accrual accounting?

Q1-14 Adjusting entries
Why are adjusting entries needed at the end of the period? Give two examples.

Q1-15 Types of adjusting entries
List four types of adjusting entries and give sample journal entries.

Q1-16 Revenue received in advance
You pay $240 for a magazine subscription for the next 12 months. How should the magazine company account for this transaction initially? Show the journal entry. Show the magazine company's adjusting entry after 5 months.

Q1-17 Adjusted trial balance
Distinguish between the adjusted trial balance and the post-closing trial balance. Give page numbers from your text (8th edition) which show examples.

Q1-18 Current and non-current liabilities
Distinguish between current and non-current liabilities. Give your own examples of each.

Q1-19 Ratios
Explain the current ratio and the debt ratio. Create your own numerical examples.

Q1-20 Worksheet and financial reports
Note that Interact2 resources including the Spreadsheet Advice PDF and the worksheet video may assist in completing this assignment.
Add a ten column worksheet beneath the following data. Below that worksheet, create three financial reports. Change five numbers to create a second version of the spreadsheet. Ensure the Trial balance still balances.

Highlight the data changes in yellow. Paste the two normal views and one formula view. Use the IF function wherever appropriate.