ACC601-Introduction to Financial Accounting Case Study - Accounting & Finance Assignment Help

Assignment Task

Task 

Learning Outcomes The Subject Learning Outcomes demonstrated by successful completion of the task below include:

a) Apply the accounting cycle and double entry accounting principles to process transactions.
b) Utilise accounting software to complete the accounting cycle for a small business.
c) Prepare, analyse and interpret financial statements for business decision making.

Assessment Task
This assessment requires you to use Xero (a cloud-based accounting software package) to record business transactions, complete the end of month processes and generate financial statements. You will gain experience performing accounting functions in Xero from the guidance provided by AccountingPod, another cloud-hosted platform built for accounting education. Please refer to the Instructions for details on how to complete this task.

Context
Developing skills and knowledge in accounting software packages such as Xero is essential to successfully perform accounting functions and processes. This assessment is based on a simulated business case study hosted by AccountingPod. Following the instructions provided by AccountingPod, you will be required to complete the assessment set which involves the processing of day-to-day business transactions and preparation of financial statements for an organisation. By completing the assessment set, you will demonstrate your skills to perform various accounting functions in Xero (aligned to your curriculum topics) and develop your ability to apply these professional skills in real-world settings.

Instructions
Please follow the instructions below to complete this assessment.

• Log in to the AccountingPod account and ensure that the practice set has been completed. Note, you will not be able to proceed with this assessment unless you have complete the practice set.
• Start the assessment set by following the instructions provided by AccountingPod.
• In the assessment set, you will be given access to a second case study in AccountingPod. Please note, this is different from the case study you completed in the practice set, so do not get them mixed up. Please ensure you enter the transactions in the correct organisation and not the practice set organisation.
• Complete all tasks in the assessment set.
• When the assessment set is completed, you do not need to submit any file to the learning facilitator, as all marking is done automatically by AccountingPod.

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