22515 Computer Based
Accounting:
assignment 3
Due: No later than 5.00pm on Friday 5th June 2009.
As with all assignments in this subject, students MUST incorporate their NAME –
(SURNAME & INITIALS) with the business name. Assignments where students name
appear in hand written form, will attract a zero mark.
Attach the ASSIGNMENT COVER SHEET as the FRONT PAGE of your submission.
Introduction
Corporation law and accounting standards require that companies and other reporting entities, prepare
financial statements according to prescribed content and format. Such reporting capabilities are not available
in MYOB and in similar accounting packages. To meet reporting requirements businesses often use the
services of external accounting firms or have in-house procedures in addition to their current accounting
software. CASEWARE is one software product that was written for this purpose.
In this assignment you are to simulate a situation, of working for a public practice accounting firm and the
client has asked you to prepare the necessary statutory reports to meet legal requirements for a reporting
entity. The client uses MYOB and has supplied you with two years trial balance of ‘Student Name Pty
Ltd.’ In practice the data supplied by the client is in electrical form (disk), but in a class situation you are
required to enter the data into MYOB.
Output
You are to provide the following reports:
1. 2007 MYOB
1.1. Chart of accounts
1.2 Profit and loss statement for the period ended 31st December 2006
1.3 Balance sheet as at 31st December 2006
2. 2007 CaseWare
2.1 A.82. Statutory reports – from first page up to and including The Statement of Cash Flows.
3. 2008 MYOB
3.1 Profit and loss statement for the period ended 31st December 2007
3.2 Balance sheet as at 31st December 2007
4. 2008 CaseWare
4.1 All of A.82 being the Statutory reports.
4.2 A.72 Journal for adjusting entries
4.3 A.91 and A.95 Ratios
You are to number your reports as per the output sequence 1, 2, 3 and 4 and submit your work in the
order specified and attach the ASSIGNMENT COVER SHEET as the FRONT PAGE of your
submission.
Input
Company data
Student Name Pty Ltd (a reporting entity) (use your name) is located at Student Address (street # &
name, suburb, state, post code). The A.C.N. (Australian Company Number) is nine digits long and should
comprise 9XX XXX XXX (with the X’s being your student number) and the A.B.N. (Australian Business
Number) is 11 digits long and should comprise 999 XXX XXX XX (with the X’s being your student
number). The company is a medium sized retail organisation.
Autumn Semester 2009 Computer Based Accounting – 22515 -2-
Assignment 3
Trial balance
Student Name Pty Ltd Credit balances are
-negative
Credit balances are -
negative
Trial Balance as at
30 June 2007 and June 2008
Debit balances are +
positive
Debit balances are +
positive
2007
('000)
2008
('000)
Sales Revenue - 42,160.00 - 48,640.00
Interest Revenue - 840.00 - 1,280.00
Cost of sales 18,972.00 24,870.00
Accounting fees 360.00 430.00
Audit Fees 140.00 168.00
Advertising 870.00 1,020.00
Bad and Doubtful Debts 1,280.00
Bank charges 260.00 320.00
Cartage and freight on sales 315.00 392.00
Commission on Sales 845.00 930.00
Contract Cleaning Expense 414.00 475.00
Credit card fees 842.00 973.00
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