FNSACC414 & FNSACC412 Assignment - Accounting and Budgeting

T-1.8.1
Details of Assessment
Term and Year Term 4, 2018 Time allowed 6 Weeks
Assessment No 2 Assessment Weighting 40%
Assessment Type Assignment
Due Date Week No. 8 Room 710
Details of Subject
Qualification FNS40217 Certificate IV in Accounting & Bookkeeping
Subject Name Accounting and Budgeting
Details of Unit(s) of competency
Unit Code (s) and
Names
FNSACC414 Prepare financial statements for non-reporting entities
FNSACC412 Prepare operational budgets
Details of Student
Student
Name
College Student ID
Student Declaration: I declare that the work
submitted is my own, and has not been
copied or plagiarised from any person or
source.
Signature: ___________________________
Date: _______/________/_______________
Details of Assessor
Assessor’s Name Tashfiq Chowdhury
Assessment Outcome
Results Competent Notyet competent Marks / 40
FEEDBACK TO STUDENT
Progressive feedback to students, identifying gaps in competency and comments on positive improvements:
______________________________________________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________
Student Declaration: I declare that I have been
assessed in this unit, and I have been advised of my
result. I also am aware of my appeal rights and
reassessment procedure.
Signature: ____________________________
Date: ____/_____/_____
Assessor Declaration: I declare that I have
conducted a fair, valid, reliable and flexible
assessment with this student, and I have provided
appropriate feedback
Student did not attend the feedback session.
Feedback provided on assessment.
Signature: ____________________________
Date: ____/_____/_____
Assessment/evidence gathering conditions
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T-1.8.1
Each assessment component is recorded as either Competent (C) or Not Yet Competent (NYC). A student can only
achieve competence when all assessment components listed under “Purpose of the assessment” section are recorded
as competent. Your trainer will give you feedback after the completion of each assessment. A student who is assessed
as NYC (Not Yet Competent) is eligible for re-assessment.
Resources required for this Assessment
 Computer with relevant software applications and access to internet
 Weekly eLearning notes relevant to the tasks/questions
Instructions for Students
Please read the following instructions carefully
 This assessment has to be completed In class At home
 The assessment is to be completed according to the instructions given by your assessor.
 Feedback on each task will be provided to enable you to determine how your work could be improved. You will be
provided with feedback on your work within two weeks of the assessment due date. All other feedback will be
provided by the end of the term.
 Should you not answer the questions correctly, you will be given feedback on the results and your gaps in
knowledge. You will be given another opportunity to demonstrate your knowledge and skills to be deemed
competent for this unit of competency.
 If you are not sure about any aspects of this assessment, please ask for clarification from your assessor.
 Please refer to the College re-assessment for more information (Student Handbook).
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Part A: Written Response (5 Marks)
Instruction for student:
This is an individual task. You need to prepare answers using MS Excel. Please print
documents accordingly. You must communicate your trainer after finishing this task.
01. Data must by systematically coded, classified and checked for accuracy and
reliability in accordance with organisational policies and procedures.
(5 marks)
a) Briefly explain ‘coding’? (2 Marks)
Coding is basically an analytical process in which the data is categorized in both quantitative
and qualitative form in order to facilitate analysis. The aim of coding is to transform the data
into a manner which is suitable for the computer aided analysis. In other words, it is referred
to the task of assigning a code or classifying the data. It establishes an intercommunication
channel between humans and machines.
b) Briefly explain ‘classifying’? (2 Marks)
Classification of data is a procedure of sorting and categorizing the information into various types, forms and
different classes. The process enables the segregation of the data according to the set requirements and as per
the various business objectives and goals.
c) Briefly explain ‘checking’? (1 Mark)
Data checking is referred to the procedure of ensuring that the information has been properly coded
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T-1.8.1
and classified so as to maintain the quality of data. The process enables the measurement of accuracy
and reliability of the data by making it undergone through an authentic procedure of checking. It
ensures that correct information has been entered and is as per the policies and procedures of the
organization.
Part B: Tasks in MS Excel (10 Marks)
Instruction for student:
This is an individual task. You need to prepare answers using MS Excel. Please print
documents accordingly. You must communicate your trainer after finishing this task.
01. You are a new Accounts Clerk of Johns Plumbing Services. Today you have
generated the trial balance according to organisational policy and procedures.
You have checked all input documents (All tax invoices, asset purchase
documents). After checking all documents, you have found a furniture invoice of
$2000 dated 20 June wasn't entered in the system. It is not in Trial Balance and
received an invoice from ABC Furniture, Invoice no ABC20103. You have
discussed this with your manager and he has approved this invoice.
Required: From the following trial balance, prepare an income statement and
balance sheet statement in MS Excel (5 marks)
Johns Plumbing Services 30/6/2018
Capital 9,550
Mortgage 2,500
Freehold premises 15,000
Plant and equipment 3,500
Motor vehicle 25,000
Acc Depreciation -Plant and
equip 3,350
- Motor vehicle 4,950
5% Commonwealth bonds 4,000
Goodwill 5,500
Accounts Receivable 1,980
Accounts Payable 6,182
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