Accounting Practice Set Project - University Name, Semester 1, 2024

This assignment is a practice set project that focuses on accounting principles. The project involves two main parts: a practice set and a main test. The practice set covers journal entries, while the main test assesses understanding of accounting operations, including the creation of ledgers, trial balances, and financial statements. The student achieved 18% accuracy in the main test, with specific challenges identified such as reference code requirements and page limitations. The assignment highlights the importance of adhering to accounting rules and regulations to improve accuracy. The assignment covers various accounting concepts such as journal entries, ledgers, trial balance, BRS, financial statements, and balance sheet. The student has used the accounting fundamentals to solve the assignment and has also identified the problems which caused the errors in the assignment.

Perdisco Project

Table of Contents
INTRODUCTION...........................................................................................................................1
RESULT..........................................................................................................................................1
Practice set..................................................................................................................................1
Main test......................................................................................................................................2

INTRODUCTION
Perdisco's practice set is a virtual accounting test based on virtual tutor set. In this project
two sets were answered, first was practice sample test and second was full fledged accounting
treatment of business entity. Approaches which are followed in this project are accounting
operations such as Journal entries, ledgers, trial balance, BRS, financial statements and balance
sheet.
RESULT
Practice set
Practice set consisting journal entries were answered which were resultant to be correct
according to accounting fundamentals. To justify the above statements, evidence is provided
below:
1

Main test
In this test, an unique accounting scenario was provided containing various transaction
about a company which were needed to be recorded in suitable accounting books and statements.
After conducting this test, result which has obtained in 18% accuracy. To justify this result,
evidence is provided below:
From the above result, it has been seen that 193 marks are obtained from the total of 1050
which is 18% of accuracy. There were various issues which are faced while conducting this test.
These issues can include reference code which were needed to be filled in virtual test. Another
problem faced is page divisions due to which previous pages can not be referred once complete.
In order to overcome these problems, aspects and instructions of accounting can be accurately
assessed and evaluated so that high marks can be attained. Accounting provides a certain
framework which includes rules and regulations. By following those regulations, transactions
can be recorded more effectively and accurately.
2