Tasks Your group are establishing a small retail shop to sale different products to the customers. The products that you sell are similar with those found in Minimart, 7 Eleven store. In the operation of your business, you will need to record data in the accounting software to reflect different accounting operation. These operations are creating the account, purchasing products from suppliers, selling products to customers and producing financial reports. Your group has chosen to use the current MYOB (version 19) to assist you to record the data about your company, account, inventory, purchase, sales and to producing the financial reports. In order to accomplish these operations, your groups will proceed with the following tasks with MYOB. Task 1 (5 marks) Create the accounts to demonstrate the ability to add, delete, modify accounts until checking balance. Task 2 (5 marks) Record the purchase process (buying items from the suppliers) (3 marks) and produce two financial reports of purchasing activity (2 marks). Task 3 (5 marks) Record the sale process (selling items to the customers) (3 marks) and produce two financial reports of sale activity (2 marks). Task 4 Presentation (10 marks) 4.1 Explain the processes of modifying account (2 marks). 4.2 Explain the purchase and sale process (5 marks). 4.3 Suggest three improvements of MYOB that will make the current accounting operation more efficient and effective (3 marks, 1 marks for each improvement).

Document Preview:

BAC11 IT for Accountants, Semester 2/2014 Assignment 1 (25%) This assignment aim is to demonstrate your understanding for the implementation of modifying accounts, checking balances, creating purchase and sales, producing financial report and to the ability to suggest the improvements of the current accounting software. The assignment requires the students to work in a group of 3 4 students. Due Date & Submission Requirement The assignment tasks consist of presenting and submitting the MYOB works. The due date for presenting the MYOB work (task 4 below) is during the normal lecture hrs in week9 (the week beginning of Monday, September 15th, 2014). Each group will be presenting the work only to the lecturer for the length of 10 15 minutes. Please note that the presentation marks will only be given to the students who present during the presentation. Any student who does not present will obtain no presentation mark. After the presentation, the students may take comments from the lecturer to further refine the MYOB works and submit task1, task2 and task3. The due date for submitting the MYOB files is by Friday, September 19th, 2014 at 17.00. Please note that late assignment will be deducted by 10% per day (counting from the due submission day/time). If you submit on the following Monday, this will be counted as 3 days late and the assignment will not be marked if submitted for more than 5 days late. Only one student will be required to submit the group assignment through Moodle. The students will need to submit the zip file containing student ID and name of every group member in MYOB zip files (separate each person with _ like 1103456Sara_1109876Manish). Without providing information of your student id and name, your assignment will not be marked. 1Tasks Your group are establishing the small retail shop to sale different products to the customers. The products that you sell are similar with those found in Minimart,…

Attachments: