BA204 Financial Accounting | My Assignment Tutor

Assessment Details and Submission Guidelines BA204SchoolSchool of BusinessCourse NameBachelor of BusinessUnit CodeBA204Unit TitleFinancial AccountingTrimesterTrimester 3, 2020Assessment AuthorDr Jingjing (Justine) WangAssessment TypeGroupAssessment TitleCapturing Transactions, Interpreting & explaining accounting concepts and principles.Unit Learning Outcomes Addressed:Interpret and explain accounting concepts and principles d. Record financial accounting transactions using the accrual method of accounting e. Prepare general purpose financial statements.Weights25%Total Marks100Lectures coveredWeek 1 – 6Release DateWeek 6Word limit< 1500 wordsNumber of References required4Due DateDue week 8 15 Jan 2021 at 5.00pmNumber of students per group4 or 5Submission GuidelinesAll work must be submitted on Moodle by the due date along with a completed Assignment Cover Page. The assignment must be in MS Word format, 1.5 spacing, 11-pt Calibri (Body) font and 2 cm margins on all four sides of your page with appropriate section headings. Reference sources must be cited in the text of the report, and listed appropriately at the end in a reference list using APA 6th edition for the School of Business.ExtensionIf an extension of time to submit work is required, an Application for Special Consideration and supporting documentation must be submitted directly to the School’s Administration Officer via your MIT AMS login [https://online.mit.edu.au/ams/default.aspx?ReturnUrl=%2fams%2f].Youmust submit this application no later than three working days after the due date of the specific piece of assessment or the examination for which you are seeking Special Consideration. Further information is available at: http://www.mit.edu.au/about-mit/institute-publications/policies-procedures-and- guidelines/specialconsiderationdeferment.Academic MisconductAcademic Misconduct is a serious offence. Depending on the seriousness of the case, penalties can vary from a written warning or zero marks to exclusion from the course or rescinding the degree. Students should make themselves familiar with the full policy and procedure available at:https://mit.edu.au/about-mit/institute-publications/policies-procedures-and-guidelines/AcademicIntegrityPolicyAndProcedure. For further information, please refer to the Academic Integrity Section in your Unit Description. Assessment Cover Sheet Student ID Number/s:Student Last name/s:Student First name/s:Student Contribution %Team Leader comments:Course:School:Unit code:Unit title:Due date:Date submitted:Campus:Lecturer’s Name:Tutor: Student Declaration I/We declare and certify that: the work contained in this assessment is my/our own work/group work, except where acknowledgement of sources is made; this assessment has not been submitted previously for academic credit in this or any other course; I/we have read MIT’s Plagiarism and Academic Misconduct Policy and Procedure, and I/we understand the consequences of engaging in plagiarism, collusion and contract cheating; a copy of the original assignment is retained by me/us and that I/we may be required to submit the original assignment to the Lecturer and/or Unit Co-ordinator upon request;I/we have not plagiarised the work of others or participated in unauthorised collaboration or contract cheating when preparing this assessment.MIT IDSignatureDate Assessment Task Description This assignment is made up of Part A and Part B. Part A contains four parts: a, b, c, & d. a is worth 30 marks, b is worth 30 marks, c is worth 10 marks & d is worth 10 marks. The assignment is to be prepared using business report format. The submission into the campus specific assignment drop box is to be made by ONLY one group member. Part A. (80 marks) Background Fresh Organic Inc. (Fresh) has grown to be a listed business in ASX after 12 years’ operation. 12 years’ ago, the company only has 10 employees, whereas now, after 12 years, it has become a global business with offices in New York, London, Beijing and Sydney. Fresh’s business operation is to produce healthy organic snacks, organic perfumes, organic health products. You are the CFO of Fresh. Required In order to highlight the importance of ethics, the CEO ask you to prepare a business report explaining below four questions: a. The competitor of Fresh overstated purchases to with the aim to increase cost of goods sold to achieve a lower amount of net income. The real reason was to pay less tax to the government. Explain three reasons why this is not ethical. (30 marks) b. Why graduate should behave ethically during studies and work in the accounting industry? Explain three reasons. c. Below are income statement of Fresh Organic Inc for the year ended 30 June 2019. Relates to the concept of accrual accounting, explain to management examples of 4 accrued revenue and expenses. (10 marks) Income statement of Fresh Organic Incfor the year ended 30 June 2019Revenues:$milSales revenue$900,000Less: Sales returns25,000Net sales revenue875,000Expenses:Cost of sales412,500Selling expenses96,000General expenses60,000Interest expense_8,000Total expenses576,500Profit298,500 d.Give management recommendations how tighter internal controls could improve business performance? (10 marks) Report Structure Report should incorporate the following sections: 1. Cover page 2. Table of contents 3. Executive summary 4. Introduction 5. Body (specifically addressing the five assignment requirements) 6. Conclusion 7. Reference list (minimum 4 must be cited) 8. Appendix (if applicable) Part B. Quality, Convention and Neatness (20 marks) Your assignment will be assessed for quality, convention and neatness, use of English grammar, sentence structure, etc. Please refer to Criterion 1, 3 and 4 as listed in the marking criteria. Marking criteria:BA204 /Financial Accounting /Semester T3, 2020, Group Assignment Assessment CriteriaTotal MarksMarks awardedCommentsCriterion 1 – Structure and Clarity of the Report/AssignmentCover page Table of contents Logical flow of clarity and structure of ideas and arguments Response to questions Appropriate use of paragraph and headings to explain and discuss ideas5Criterion 2 – Body/contents PART A: a. The competitor of Fresh overstated purchases to with the aim to increase cost of goods sold to achieve a lower amount of net income. The real reason was to pay less tax to the government. Explain three reasons why this is not ethical. (30 marks)b. Why graduate should behaveethically during studies and work inthe accounting industry? Explain 3reasons. (30 marks)c. Below are income statement of Fresh Organic Inc for the year ended 30 June 2019. Relates to the concept of accrual accounting, explain to management examples of 4 accrued revenue and expenses. (10 marks) d.Give management recommendations how tighter internal controls could improve business performance. (10 marks)80Criterion 3 – Research and AnalysisAccuracy and depth of analysis Appropriate use of in-text and end text referencing Appropriate number of references used Quality of information sources Appendices5Criterion 4 – PresentationLayout Formatting Spelling/grammar Proofread Professional format10Total marks100Total weight25 Assessment Rubric for BA204 /Financial Accounting /Semester T3, 2020, Group Assignment High Distinction (80% – 100%)Distinction (70% – 79%)Credit (60% – 69%)Pass (50% – 59%)Fail (

QUALITY: 100% ORIGINAL PAPER – NO PLAGIARISM – CUSTOM PAPER

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