HND in Business Management: Financial Accounting Assignment

This document presents a comprehensive solution to a financial accounting assignment for an HND in Business Management program. The assignment is divided into four key activities. Activity 1 focuses on recording business transactions using double-entry bookkeeping, creating journal entries, and extracting a trial balance for XYZ PLC. Activity 2 requires the preparation of final accounts for sole traders (Saman Trading), partnerships (ABN Associates), and limited companies (Wiskam PLC), adhering to accounting principles and standards. Activity 3 addresses bank reconciliation, ensuring the accuracy of company and bank records. Activity 4 involves reconciling control accounts and correcting transactions recorded in the suspense account. The solution includes detailed journal entries, trial balances, and financial statements, demonstrating the application of accounting principles and practices. The assignment assesses the student's ability to apply bookkeeping techniques and prepare financial statements for different business structures. This assignment is a solution contributed by a student to the platform Desklib.