FAAF 1004 - Introduction To Accounting Assignment

Assignment Task

Assignment question:

Introduction

• Come out with a business concept (product)

• Appoint the board of directors/post for each student

• Product specification

Content

• Create 25-30 transactions.

• Based on the transactions:

  • Prepare all the double entry(T-Account) for the above transactions.

  • Balance off the accounts and bring down the balances.

  • Prepare a Trial Balance as at ---------.

  • Prepare Income Statement for the year ended -----------.

  • Prepare the Statement of Financial Position as at -----------.

Conclusion

• Decision making for the business such as future improvements on financial matters.

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