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I GACRONO August 2020 POR Assessment Task Accounting is a set of concepts and techniques that are used to identify measure, record, classify summe d report financial formation of an economic unit to the users of the accounting information. The accounting process is three separe types of transactions used to record business transactions in the accounting records. This formation is then agregated into financial statements." 1. Create and record transactions which wolves introduction of capital to the business, purchase of a no current wet cash sales, cash purchase, credit sales, credit purchase, payment of rent, payment of salary rece of commission, full receipt for credit sales availing overdraft from bank and cash deposit to the bank for a month showing the long balances for each account 50 marks including introduction) 2. Extract a Trial Balance from the prepared Ledger Accounts. 10 marks 3. Prepare an income Statement for the month and Balance Sheet as at month-end. Briefly explain the purpose of Financial Statements 15 mars 4. Analyse the performance of the company using Gross Profit Ratio, Net Profit Ratio and Current Ratio. Also, est strategies on how to source capital for a Limited Company. 20 marks including conclusion Total 100 marks Additional instructions: Structure of the assignment is as follows: Introduction - Discuss the meaning and importance of accounting approximately 250 words) Main Body 1. Create and record prepare journal) your own transactions as mentioned in question and prepare the ledger accounts for same. You will have 12 transactions and 12 ledger accounts 2. Need to prepare a Trial Balance which will have the twelve ledger accounts prepared in question 1. 3. Need to prepare the Financial Statements from the Trial Balance that is prepared in question 2 Also need to explain the purpose of Financial Statements 4. Need to calculate the three ratios mentioned in question 4 and need to analyse the performance based on the calculated ratio. Also need to su strategies on how to source capital for a United Company Conclusion - Summary of the topics discussed in the assignment Approximately 250 words The students need to choose a particular month and create their own transactions as mentioned in questionnel with any amounts At least five (5) references from different sources in Harvard Referencing style As the assignment is based on numbers and calculations, the word count for each question is not specified. The overall word count should be equivalent to 3,000 words. ***END OF ASSIGNMENT TASK*** Pg. 7 Version 1 GAC4010 - Finance For Managers AY: 2019-2020 / Semester 2 Question Marking Scheme Description Allocated Introduction - Meaning of accounting Importance of accounting 5 marks 5 marks 10 marks Record of Transactions each 1 mark] 12 marks Preparation of Journal: Format 1 mark and each journal 1 mark 13 marks 40 marks Preparation of Ledger: Format 2 marks, cash account 2 marks, other 11 accounts 1 mark each 15 marks Preparation of Trial Balance: Format 2 marks, 11 accounts in debit and credit 5.5 marks, total of Trial Balance 2.5 marks 10 mars Preparation of Financial Statements Income Statement (GP 2 marks, NP 3 marks) Balance Sheet (Net Assets 3 marks, Capital 2 marks] Purpose of Financial Statements 5 marks 5 marks 5 marks 15 marks Calculation of 3 ratios, each 2 marks Analysis of the calculated ratios, each 2 marks Strategies on how to source capital for a limited company 6 marks 6 marks marks 20 marks Conclusion of the report 5 marks Total 100 0000.jpg Add to 0 % Editore Assessment Task "Accounting is a set of concepts and techniques that are used to identify, measure, record, classify. summarize and report financial information of an economic unit to the users of the accounting Information. The accounting process is three separate types of transactions used to record business transactions in the accounting records. This information is then aggregated into financial statements." Required to: 1. Create and record transactions which involves introduction of capital to the business, purchase of a non current asset, cash sales, cash purchase, credit sales, credit purchase, payment of rent, payment of salary, receipt of commission, full receipt for credit sales, availing overdraft from bank and cash deposit into the bank for a month showing the closing balances for each account 50 marks (including introduction) 2. Extract a Trial Balance from the prepared ledger Accounts 10 marks 3. Prepare an Income Statement for the month and Balance Sheet as at month-end. Briefly explain the purpose of Financial Statements 15 marks n Accounting summantene information. The transactions in th Assessment Task Concepts and techniques that are used to identity, measure, record, Information of an economic unit to the users of the account r ocess is three separate types of transactions used to record busine e cords. This information is then aggregated into financial statements Required to: 1. Create and record transactions which involves Introduction of capital to the business, purchase of a non current asset, cash sales, cash purchase, credit sales, credit purchase, payment of rent, payment of salary, receipt of commission, full receipt for credit sales, availing overdraft from bank and cash deposit into the bank for a month showing the closing balances for each account. 50 marks (including introduction) 10 marks 2. Extract a Trial Balance from the prepared Ledger Accounts. 3. Prepare an Income Statement for the month and Balance Sheet as at month-end. Briefly explain the purpose of Financial Statements 15 marks 4. Analyse the performance of the company using Gross Profit Ratio, Net Profit Ratio and Current Ratio. Also, suggest strategies on how to source capital for a Limited Company 20 marks (including conclusion) e to search I GACRONO August 2020 POR Assessment Task Accounting is a set of concepts and techniques that are used to identify measure, record, classify summe d report financial formation of an economic unit to the users of the accounting information. The accounting process is three separe types of transactions used to record business transactions in the accounting records. This formation is then agregated into financial statements." 1. Create and record transactions which wolves introduction of capital to the business, purchase of a no current wet cash sales, cash purchase, credit sales, credit purchase, payment of rent, payment of salary rece of commission, full receipt for credit sales availing overdraft from bank and cash deposit to the bank for a month showing the long balances for each account 50 marks including introduction) 2. Extract a Trial Balance from the prepared Ledger Accounts. 10 marks 3. Prepare an income Statement for the month and Balance Sheet as at month-end. Briefly explain the purpose of Financial Statements 15 mars 4. Analyse the performance of the company using Gross Profit Ratio, Net Profit Ratio and Current Ratio. Also, est strategies on how to source capital for a Limited Company. 20 marks including conclusion Total 100 marks Additional instructions: Structure of the assignment is as follows: Introduction - Discuss the meaning and importance of accounting approximately 250 words) Main Body 1. Create and record prepare journal) your own transactions as mentioned in question and prepare the ledger accounts for same. You will have 12 transactions and 12 ledger accounts 2. Need to prepare a Trial Balance which will have the twelve ledger accounts prepared in question 1. 3. Need to prepare the Financial Statements from the Trial Balance that is prepared in question 2 Also need to explain the purpose of Financial Statements 4. Need to calculate the three ratios mentioned in question 4 and need to analyse the performance based on the calculated ratio. Also need to su strategies on how to source capital for a United Company Conclusion - Summary of the topics discussed in the assignment Approximately 250 words The students need to choose a particular month and create their own transactions as mentioned in questionnel with any amounts At least five (5) references from different sources in Harvard Referencing style As the assignment is based on numbers and calculations, the word count for each question is not specified. The overall word count should be equivalent to 3,000 words. ***END OF ASSIGNMENT TASK*** Pg. 7 Version 1 GAC4010 - Finance For Managers AY: 2019-2020 / Semester 2 Question Marking Scheme Description Allocated Introduction - Meaning of accounting Importance of accounting 5 marks 5 marks 10 marks Record of Transactions each 1 mark] 12 marks Preparation of Journal: Format 1 mark and each journal 1 mark 13 marks 40 marks Preparation of Ledger: Format 2 marks, cash account 2 marks, other 11 accounts 1 mark each 15 marks Preparation of Trial Balance: Format 2 marks, 11 accounts in debit and credit 5.5 marks, total of Trial Balance 2.5 marks 10 mars Preparation of Financial Statements Income Statement (GP 2 marks, NP 3 marks) Balance Sheet (Net Assets 3 marks, Capital 2 marks] Purpose of Financial Statements 5 marks 5 marks 5 marks 15 marks Calculation of 3 ratios, each 2 marks Analysis of the calculated ratios, each 2 marks Strategies on how to source capital for a limited company 6 marks 6 marks marks 20 marks Conclusion of the report 5 marks Total 100 0000.jpg Add to 0 % Editore Assessment Task "Accounting is a set of concepts and techniques that are used to identify, measure, record, classify. summarize and report financial information of an economic unit to the users of the accounting Information. The accounting process is three separate types of transactions used to record business transactions in the accounting records. This information is then aggregated into financial statements." Required to: 1. Create and record transactions which involves introduction of capital to the business, purchase of a non current asset, cash sales, cash purchase, credit sales, credit purchase, payment of rent, payment of salary, receipt of commission, full receipt for credit sales, availing overdraft from bank and cash deposit into the bank for a month showing the closing balances for each account 50 marks (including introduction) 2. Extract a Trial Balance from the prepared ledger Accounts 10 marks 3. Prepare an Income Statement for the month and Balance Sheet as at month-end. Briefly explain the purpose of Financial Statements 15 marks n Accounting summantene information. The transactions in th Assessment Task Concepts and techniques that are used to identity, measure, record, Information of an economic unit to the users of the account r ocess is three separate types of transactions used to record busine e cords. This information is then aggregated into financial statements Required to: 1. Create and record transactions which involves Introduction of capital to the business, purchase of a non current asset, cash sales, cash purchase, credit sales, credit purchase, payment of rent, payment of salary, receipt of commission, full receipt for credit sales, availing overdraft from bank and cash deposit into the bank for a month showing the closing balances for each account. 50 marks (including introduction) 10 marks 2. Extract a Trial Balance from the prepared Ledger Accounts. 3. Prepare an Income Statement for the month and Balance Sheet as at month-end. Briefly explain the purpose of Financial Statements 15 marks 4. Analyse the performance of the company using Gross Profit Ratio, Net Profit Ratio and Current Ratio. Also, suggest strategies on how to source capital for a Limited Company 20 marks (including conclusion) e to search