ACCM4000 Financial Accounting

Assessment 3 Information

Subject Code:	ACCM4000
Subject Name:	Financial Accounting
Assessment Title:	Xero Assignment
Assessment Type:	Simulation
Word Count:	N/A	Words	(+/-10%)
Weighting:	40 %
Total Marks:	40
Submission:	Part A via Turnitin on MyKBS and Part B In-class
Due Date:	Part A Tuesday, Week 13 & Part B in Week 12 workshop

Your Task

ACCM4000 Financial Accounting assignment has two parts:

• Part A: Enter all the transactions on Xero for one month for a fictitious business. You must carefully read the case study documents available on MyKBS and follow all the instructions. You must also watch the videos provided. Once you have entered all the transactions, you must prepare the following reports and submit a PDF copy on MyKBS (via Turnitin).
• • Accounts Transactions Report for July 2023
• • Trial balance as of 31 July 2023
• • Profit and Loss Statement for the month ending July 2023
• • Balance Sheet as of 31 July 2023
• • Screenshot of the assurance dashboard
• Part B: After completing the above reports, you are required to identify area/s of improvement for this business and provide a recommendation on how the business could make its processes more efficient and effective. To do this, you are required to explore the Xero App Market Place (https://apps.xero.com/au) and identify three applications (within the same category) that the business should adopt. Your evaluation should include a comparison of the various features of these applications and a summary of the expected annual cost. You must also provide a final recommendation. You are required to deliver a 5-minute in-class presentation.

Assessment Description

The assessment has two requirements:

Part A: XERO Case Study

You are required to record transactions for a fictitious business for one month and prepare the necessary reports.

Part B: In-class presentation

You are required to conduct an in-class pitch to a prospective client, demonstrating how the accounting process can be more efficient and effective.

Assessment Instructions

• You must attend the Xero workshop in Week 7. Your facilitator will explain the essential requirements of this assessment, highlight the pitfalls to avoid and discuss how to conduct the Xero pitch.

• You must create a free trial account on Xero (Sign up for free trial | Xero AU) and invite venky.penchalliah@kbs.edu.au to activate your subscription.

• If you do not send the invite, your Xero subscription will expire in 30 days, and you cannot enter any transactions on Xero. You are also at risk of losing all your data that might have already been entered on Xero.

• Complete the below steps in the week 7 workshop to start Part A, the Xero case study.

• Step 1: Create a free XERO trial account.
  • Step 2: Set up 2-factor authentication.
• • Step 3: Connect Hubdoc to your Xero organisation.
• • Step 4: Change your access from Standard to an adviser.
• • Step 5: Send an invite to the subject coordinator.

• Review the videos uploaded under the Assessment 3 section on LMS.

• Complete all the requirements mentioned in the XERO case study document and upload the reports as a single PDF file on the Turnitin submission link.

• For Part B – XERO pitch, use visual aids like PPT (PowerPoint) slides and limit the presentation to a maximum of 5 minutes.

Important Study Information

Academic Integrity Policy

KBS values academic integrity. All students must understand the meaning and consequences of cheating, plagiarism and other academic offences under the Academic Integrity and Conduct Policy.

• What is academic integrity and misconduct?
• What are the penalties for academic misconduct?
• What are the late penalties?
• How can I appeal my grade?

The answers to these questions can be accessed at https://www.kbs.edu.au/about-us/school-policies.

Length Limits for Assessments

Penalties may be applied for assessment submissions that exceed prescribed limits.

Study Assistance

Students may seek study assistance from their local Academic Learning Advisor or refer to the resources on the MyKBS Academic Success Centre page. Further details can be accessed at https://elearning.kbs.edu.au/course/view.php?id=1481

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