Professional Documents
Culture Documents
Learning objective
Accounting is concerned with the recording and classifying and summarizing of data,
and then communicating what has been presented from it. Accounting data is then
analyzed and information used for decision making. It also helpful in the evaluation of
performance and indicates the financial implications of the business transactions.
Through this assignment, students will be able to apply their knowledge of accounting to
the real life of working environment and understanding how the accounting process
works.
Students are expected to use a self-directed learning approach. Therefore students will
have to source for learning resources entirely on their own, without the assistance of the
lecturer/tutor and learn up the topic through self-studies and group discussions.
INSTRUCTIONS
1. Students are required to form their own groups. Each group should consist of 5-6
students from the same tutorial group. (Each group leader shall submit the
name of the group members to your tutor before 28th January 2015
(Wednesday).
2. Your report should be in printed form, with pages to be arranged in the
following order:
Cover page
Marking scheme
Question paper
Table of content
Assignment report/answer (Contents of Report)
Bibliography/ Reference List ( refer to www. apastyle.org)
Appendix
2
CD ( All report and supporting documents must burn in the CD )
3. The report should be typed and formatted neatly in :
Font-size 12
Times New Roman
1.5 spacing
Justified
Color printing is NOT required.
4. APA referencing system.
The report should be fully referenced and include a bibliography and reference
list.
5. Use of diagram, chart, graph, pictures to present your work (If necessary).
EVALUATION
This assignment accounts for 20% of the total marks and shall be assessed based on
the Mark Sheet provided.
SUBMISSION DATE
The submission date for this assignment is on Friday, 13th March 2015 (Week
9) latest by 12 pm to respective tutor. Assignment that submitted after the
date and time specified will be deducted FIVE (5) marks.
ASSIGNMENT TASKS: Answer all questions
1. Do you agree with the following comment and give reason to support your
answer:
With the introduction of computerized accounting package, the Trial Balance
would always be in balance.
Give any THREE (3) reasons to support your answers.
(12 marks)
2. Assume that you are a stationery retailer selling a wide range of stationery, such
as exercise books, papers, files, writing equipment, etc. You are selling the
products in retail market. Majority of your customers are in cash terms with a
few major regular customers in credit terms. You only purchase your products
from two (2) suppliers who are willing to grant you credit period.
You are required to design, with the help of the computer, the following
documents:
a)
b)
c)
d)
(3 marks)
(4 marks)
(4 marks)
(2 marks)
3
e) Two (2) original debit notes
f) One (1) invoice for purchase of a unit of printer for own use
(2 marks)
(1 mark)
Assume all the transaction happened during the month of October 2014.
From the documents that you have designed, enter the information in the
appropriate books of prime entries. Assume:
Cash purchases are paid immediately on the same day by cheque
No return journal been used by the company
Purchase of printer is with credit term.
(10 marks)
(TOTAL: 26 marks)
3. In accounting term, depreciation is refers to as the transfer of the cost of the noncurrent assets over their expected useful life. It is an expense for the business
since the non-current asset is performing the service for the business for a
specific time range.
Explain TWO (2) basic methods for the calculation of depreciation of noncurrent assets. Which method of the depreciation you choose above is more
accurate to be practiced? Explain it.
(16 marks)
4. In accounting, businesses often create a provision for doubtful debts.
a) What is the accounting concept (or convention) involved in preparing a
provision for doubtful debts account. Explain your answer.
(4 marks)
b) Explain the effect on the financial performance and financial position of the
business entity, if there is no such provision in accounting.
(4 marks)
c) What is the purpose of creating a provision for doubtful debts
(4 marks)
Transaction B:
Enter disposal of used computer (used by sales staff in the company) of RM3,000
to Ronny as sales of merchandise in the Sales Journal.
Computer equipment
CompTech Sdn Bhd.
GENERAL JOURNAL
RM10,000
RM10,000
SALES JOURNAL
Ronny
RM3,000
(3 marks)
(5 marks)
e) What are the possible consequences of Mr. Alan, if his undesirable intention
and actions discover by Mr Bob?
(5 marks)
(TOTAL: 20 marks)
6. Quality of the written assignment:
a. Present your report by using APA referencing system
b. Format, structure and layout
(5marks)
(5marks)
(TOTAL: 10 marks)