Accounting assignment

Aug 6th, 2016
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Solution to : On 1st December 20X5 you established a brand new business. Your business is either a service business or a small trading business. 1. Briefly introduce your new business and describe the activity it deals with. (max 200 words) 2. List a minimum of 20 typical accounting transactions for your business which occurred during December Year 20X5. Transactions must be relevant to your business chosen. Notes: you must include (among other things) • at least two long-term assets purchased • two different types of depreciation • prepayments and accruals • drawings • bank loan (plus interest) 3. Record all your transactions in a journal and on T-accounts 4. Prepare the Trial balance 5. Prepare a Statement of Financial Position as at 31st December 20X5, Income statement for December 20X5 and a Cash Flow statement (Direct method) for December 20X5 6. Prepare a commentary (500 words) including: • The purpose of trial balance including its limitations • Description and si

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Module Title:Financial and ManagementAccountingDepartment: Accounting, Finance and Operations ManagementModule Code: MOD004227Level: 4Academic Year: 2015/16Semester 2www.anglia.ac.ukContents1.2.3.4.5.6.7.8.9.10.11.Key Information........................................................................................................................... 2Introduction to the Module .......................................................................................................... 2Learning Outcomes and Outline Delivery .................................................................................... 3Assessment ................................................................................................................................ 6Learning Resources .................................................................................................................. 125.1. Library .............................................................................................................................. 125.2. Other Resources ................................................................. Error! Bookmark not defined.How is My Work Marked? ......................................................................................................... 12Assessment Criteria and Marking Standards ............................................................................ 14Attendance .....................................................

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