ACC6010 Xero AccountingPod Assignment :
ACC6010 Xero Assignment Instructions
|Before starting this assignment you must: Complete the Xero AccountingPod session;READ this document in full.|
Your access to the data file and Xero account is limited so you should start on the activity as soon as possible once the account is set up. You must complete the required transactions using Xero for all 5 Modules in AccountingPod with Submission completed. Print all Xero finanacial report by the end of the due date of 21 April 2023.
Part 2: As a Group, prepare and Print (to pdf) the required financial reports from Xero before 21 April 2023 after preparing the adjusting entries on 31 July 2023 using Any ONE member’s financial data.
Once you have completed the accounting requirements in AccountingPod using Xero, the group needs to select one of their members’ financial data to work on the group report. The group has to prepare and submit the PDF copies of the following reports from Xero. The group needs to submit these reports as Appendices to the written report in the dedicated Turnitin link on Canvas.
The required reports to be submitted in PDF format are:
- Trial Balance – 31 July 2023
- Balance Sheet – 31 July 2023
- Profit and Loss – Month ending 31 July 2023
- Journal transaction report for month-end adjustments
Part 3: Prepare an extract of a formal written report for the company as a GROUP.
Imagine you are an accountant preparing the financial reports for the sole owner of the company. The owner is concerned about good business operations such as improving profitability and the market share, paying the bills on time, making sure the debtors pay in a timely manner, as well as managing the tax obligations and inventory. The owner has asked you to prepare a report analysing the financial statements you have prepared. You should utilise analytical (ratio) techniques to assess the profitability, liquidity and financial stability of the business using available accounting information after completing accounting transactions and financial reports in Xero. When completing this analysis, you should take into consideration the nature of the business and identify what the business has done well and what could be improved. After a detailed analysis of the financial statements of the company, you should include in the report to the owner feasible recommendations that could help the business improve the business operations.
Please note you are only preparing an extract of the report for this ACC6010 Xero AccountingPod task assignment. You are required to only complete the analysis section of the requested report. You are not required to write an executive summary, contents page, introduction etc. For the analysis section, you are required to calculate and discuss 3 ratios (1 liquidity, 1 profitability and 1 financial stability). The discussion of each ratio should explain the result of the ratio, compare the result to a commonly accepted benchmark and industry average, as well as provide at least one recommendation on how the ratio could be improved.
The report extract of the analysis section should be presented in a professional manner. You should have a primary heading “Data Analysis” followed by three subheadings organising each of your 3 ratios. One Typed Report per group is to be submitted electronically through Turnitin via Canvas. Final report must be typed in 11 point font and presented in proper business report format. The Xero reports listed in the marking guide should be included as Appendices submitted through a separate link on Canvas. The suggested word length is 1,000 words or less, excluding references. This Business report extract should be clear and concise and written in grammatically correct English. Marks will be awarded for clarity of expression, conciseness and cohesion. Repetition and excessive wordiness will be penalised.
Part 4: Prepare individual self-reflection writing and individual Team Evaluation Form
Students must prepare a self-reflection summary and team evaluation form individually.
Self-reflection: Reflect critically on what you have learnt from the assignment, including your contribution to the team. In 300 words or less, describe what technical skills and knowledge you have developed through this project, as well as what and how you have contributed to your team. You can write this section in first person. You will not be assessed on the technical content but will be assessed on your written communication skills including clarity and grammar. Please note that your contribution to the group recorded in this summary may be used to assess your contribution to the group in the event of any dispute in the final score due to the results collected from the team evaluation forms received.
Team Evaluation Form: A completed form per student is to be submitted via Canvas, stating clearly their group number (provided to each group after group has submitted their details).
Part 5: Group assignment submission through Canvas links
Please refer to the table below for the due dates of submission and method of submissions for the group assignment.
|Weighting||This assignment accounts for 25% of the assessment in this unit including both individual and group components.|
|Week / Due Dates / Format for submission||Assignment due: Week 12 (No Assignment Cover sheet required) Group Written Report : 19/05/2023, Friday, 11.59pmElectronic copy of the group’s written report (Submit ONLY Group Written Report Without Appendices) using Turinit link via Canvas. Each group is required to submit ONE report only, quoting the GROUP CODE that is allocated to the group before submission date. Group Apendices : 19/05/2023, Friday, 11.59pm PDF copy of the group’s Xero financial reports and other references to be submitted using the Turnitin link via Canvas. One copy per group. Submit with group code. Self –reflection: 23/05/2023, Tuesday, 11.59pm Each student has to submit your own self-reflection via link in Canvas. Team Evaluation Form: 23/05/2023, Tuesday, 11.59pm Each student has to submit individually your Team Evaluation form (form included below) via Canvas. Use your group code in your submission.|
|Note||Students submitting assignments through Turnitin need to understand that they have declared that the submitted works are their own work. University policies and procedures for academic misconduct and plagiarism will be applied. As stated in the unit plan, this assignment, may, at the unit coordinator’s discretion, be extended to require an oral examination to clarify and support the written submission. The oral examination will normally be held in person with the Unit Coordinator but may be conducted by telephone or other means at the Unit Coordinator’s discretion. The oral examination should be conducted as soon as possible after the assessment but may be deferred if the student is unable to attend and can provide supporting evidence. The oral examination will be able to override the original assessment of the written submission. If a student fails to attend the oral examination it may result in an Academic Misconduct investigation.|
ACC6010 Xero AccountingPod Assignment Marking Guide
Please find below the marking guide for the assignment.
|Group Assessment||Marks||Marks Awarded|
|Report||Report Contents – Data Analysis (21 marks), and Presentation/Language (4 marks)||25 Marks|
|Appendix to Report||Included the following items with adequate formatting and referencing: Items listed in Part 2Trial Balance – 31 July 2021Balance Sheet – 31 July 2021 Profit and Loss – Month ending 31 July 2021 Journal transaction report for month-end adjustments||5 Marks|
|Total for group (Raw Score)||30 Marks|
|AccountingPod Xero Assignment||Individual marks from Module 5 in AccountingPod||50 marks|
|Self-reflection||What are the key learning outcomes for you after completing this assignment?What skills/ knowledge have you acquired from completing this assignment? How and what have you contributed to the group in this assignment?||20 marks|
|Total for individual (Raw Score)||70 Marks|
|Total raw score for individual (out of 100 marks)|
|Individual’s score out of 25%|
Team Evaluation Form
Each student needs to submit a Team Evaluation Form (as attached below) at the completion of the group assignment via Canvas before 23 May 2023 (Tuesday), 11.59pm. You are required to evaluate each member of your team, including yourself, using the following scale:
5: The teammate did much more than his/her share.
4: The teammate did somewhat more than his/her share.
3: The teammate did approximately his/her share.
2: The teammate did somewhat less than his/her share.
1: The teammate did much less than his/her share.
0: The teammate did not contribute to the assignment at all.
Note: Your individual marks for the assignment will be adjusted based on the evaluation received from you and your team mates. You will need to justify your contribution in the group ACC6010 Xero AccountingPod task assignment with supporting documentation if there is a disagreement to your awarded final marks. In the event of any disputes, the unit co-ordinator’s decision on the final marks awarded will be final.
Average rating for each student will be calculated based on evaluation forms received from their teammates. The following grading rubric will be applied to each individual student based on the average rating they achieve through the group evaluations.
- If the student’s average rating is 3 and above, 100% of the Group’s marks will be awarded to that student.
- If the student’s average rating is above 2 and below 3, only 70% of the Group’s marks will be awarded to that student.
- If the student’s average rating is above 1 and below 2, only 50% of the Group’s marks will be awarded to that student.
- If the student’s average rating is below 1, only 30% of the Group’s marks will be awarded to that student.
- If the student’s average rating is zero, no Group’s marks will be awarded to that student.
Unit Code : ACC6010
Group Number: ACC6010-231- —
|Name of Individual Team Member||No Contributiodual Team Memberwill be adjusted . justed according to the Grading Rubricsn||Fair Share||Much more than his/her share|
|Your group member 1||0||1||2||3||4||5|
|Your group member 2||0||1||2||3||4||5|
|Your group member 3||0||1||2||3||4||5|
|Your group member 4||0||1||2||3||4||5|