Build Your Own Chart of Accounts - Accounting & Finance Assignment Help

Assignment Task

You are required to come up with a business idea in which you will be the owner for this business. This business will sell both products and services to the clients. One of the key tasks for this assessment is that the students will need to CREATE their own business information including client/suppliers base , business transactions etc. and then use MYOB program to record for the information. The assignment will include 4 key parts and the details of instructions and supports on how to complete the assessment will be provided in the Lecture & Tutorial.

Part 1: You need to come up with your own business in which you will be the owner. You need to describe all information about your business such as what your business is selling, who are the target customers, where it is located etc. Present this information on your spreadsheet.

Part 2: You need to describe what accounts (items) you will have at the commencement of business on 1" July 2020. For examples, you might have some cash, some furniture, inventories when setting up your business. You need to set them up as a Trial Balance showing all the accounts (items) and their opening balances. This is the picture of your business at the stall as at 1" July 2020. 
You will need to build your own "Chart of Accounts".

Part 3: You need to set up your OWN LIST of products/services that you are selling (with details of their costs and prices charged on customers). In addition, you will also need to set up the customer list and supplier list . It is required to have at least S Customers/clients (Accounts Receivable) and S suppliers (Accounts Payable) for your business. They are regular ones that you often deal with. You then need to use MYOB to set them up in the system.

Part 4:  You will create your own Sale & Purchase Transactions occurring during the month of July 2020. You also need to create the cash-collection transactions and cash-payment transactions.

This Accounting & Finance Assignment has been solved by our Accounting & Finance experts at My Uni Paper. Our Assignment Writing Experts are efficient to provide a fresh solution to this question. We are serving more than 10000+ Students in Australia, UK & US by helping them to score HD in their academics. Our Experts are well trained to follow all marking rubrics & referencing style.
Be it a used or new solution, the quality of the work submitted by our assignment experts remains unhampered. You may continue to expect the same or even better quality with the used and new assignment solution files respectively. There’s one thing to be noticed that you could choose one between the two and acquire an HD either way. You could choose a new assignment solution file to get yourself an exclusive, plagiarism (with free Turnitin file), expert quality assignment or order an old solution file that was considered worthy of the highest distinction.