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Final Project Sept2017

This document provides instructions for ACC 406's final project accounting simulation. Students will form groups of 4 and set up a sole proprietorship business selling goods. They must generate at least 14 types of business transactions between the business and suppliers/customers. The report must include the business background, transactions, journals, ledgers, trial balance, and follow a specified format of 10+ pages. It is due on December 2, 2017.

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474 views

Final Project Sept2017

This document provides instructions for ACC 406's final project accounting simulation. Students will form groups of 4 and set up a sole proprietorship business selling goods. They must generate at least 14 types of business transactions between the business and suppliers/customers. The report must include the business background, transactions, journals, ledgers, trial balance, and follow a specified format of 10+ pages. It is due on December 2, 2017.

Uploaded by

NrBaizat
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOC, PDF, TXT or read online on Scribd
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ACC 406 INTERMEDIATE FINANCIAL ACCOUNTING & REPORTING

FINAL PROJECT: ACCOUNTING SIMULATION PROJECT 15%

INTRODUCTION:
This assignment is designed to test on the understanding of students in the recording of the business transactions using the double entry
system under the book of prime entry format.
Students are required to form a group of 4 members.

INSTRUCTIONS:
1. Assuming you are planning to set up a sole trading business selling finished goods (name your product) to customers in Klang
Valley area (any area choose by the student is acceptable).
2. Create possible business transactions between your business and supplier and also between your business and customers.
3. The business transactions should include at least:
a. 4 credit transactions
b. 2 returns transactions
c. 4 cash transactions
d. 2 drawing transactions
e. 2 operating expenses transactions
f. 2 other revenues transactions
g. Other transactions
4. Your report should include the following informations:
a. Introduce the business background (including capital contributed, name of the business, address, type of goods sold,etc)
b. Accounting transactions
c. Specialised journals
d. Subsidiary ledgers account
e. Trial Balance as at that date.
5. Report format
a. Cover page
b. Acknowledgement
c. Table of content
d. Introduction
e. Content
f. Conclusion
g. Bibliography or references
h. Appendix
6. Important notes
a. The assignment must be typed with the minimum of 10 pages excluding appendices.
b. Font type/size: Arial 11/ Times New Roman 12
c. Line Spacing: 1.5
d. Alignment: Justified
e. Enclose group photograph and any related items if possible
f. Marks will be deducted for late submission
g. Submission date 2 December 2017

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