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Discuss Prudence - What is proposed for updating the conceptual framework How one think this affect the reporting ? Benefits and Criticisms ...
Requirements: 
You are required to undertake a financial analysis of a well-known publically listed company. Your analysis period should include material based upon the most recent published ann ...
1. Understand the accounting standards framework and the conceptual framework in Australia, and influence and impact of these on accounting practice and the financial reporting envir ...
Task Background Assessment Task 2 is Fermi Problem. In Strategic Management we are using the Fermi Problem to demonstrate quantitative numeracy skills. Students will, with limited data make effective, ...
Task (a)
For this task you will need to design and develop the spreadsheet with the following:
Main Heading - General Journal of Bell Floral Designs REF: GJ1
Create a table with the following columns headings:
Date, Particulars, Folio, Debit , Credit
Once you have created the spreadsheet prepare the General Journal entry for the commencement of business based on the following information.
Ashleigh commenced the business on 1 August with the following assets:
Cash at Bank $5,000
Inventory $5,000
Furniture and fittings $5,000
Equipment $3,000
$18,000 cash invested by Ashleigh
On 31 August, Ashleigh withdrew $500 for personal use.
Prepare the General Journal entry to record this transaction.
This task must be completed within one week to meet the deadline set by Ashley (refer case study)
Task (b)
For this activity you will need to design and develop the spreadsheet which will have two tables in the one sheet, using the following information. Make sure you use the same work book and label the sheet Task (b):
Main Heading - Purchases Journal of Bell Floral Designs REF: PJ1
Create a table with the following columns:
Date, Inv no., Particulars, Folio, Purchases, GST paid, Accounts payable
Main Heading - Purchase Returns Journal of Bell Floral Designs REF: PR1
Create a table with the following columns:
Date, Credit note no., Particulars, Folio, Purchase returns, GST paid, Accounts payable
Apply the sum formulas to calculate the totals of each column in both tables. (Your assessor will check this when you have submitted your workbook)
Once you have created the spreadsheet you need to prepare the Purchase Journal & purchase returns journal entries for the commencement of business using the following information.
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Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.
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Discuss Prudence - What is proposed for updating the conceptual framework How one think this affect the reporting ? Benefits and Criticisms ...
View AnswerRequirements: 
You are required to undertake a financial analysis of a well-known publically listed company. Your analysis period should include material based upon the most recent published annual accounts, covering data from the most recent two years. 
 Commonwealth Bank of Australia ( ...
View Answer1. Understand the accounting standards framework and the conceptual framework in Australia, and influence and impact of these on accounting practice and the financial reporting environment.2. Critically analyse the theoretical and practical aspects of a range of c ...
View Answer
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Task Background Assessment Task 2 is Fermi Problem. In Strategic Management we are using the Fermi Problem to demonstrate quantitative numeracy skills. Students will, with limited data make effective, and approximate calculations to model the efficiency of an organisation. This is a synthetic study, ...
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