Create inventory items and record sales

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Reference no: EM133778617

Accounting for Business Decisions

Introduction

Assignment - Using XERO Accounting Software

This assignment aims to provide students with an opportunity to use accounting software, rather than using pens and paper or Excel spreadsheets. XERO is an accounting application, in the cloud, so you will not have to install any software.

Task description

Over the semester you will: -
• Create a company using XERO:
• Set up a Chart of Accounts
• Set up a Trial Balance
• Process bank transactions
• Create inventory items and record Sales;
• Make purchases
• Enter Journal entries for end of year processing
• Print Accounting Reports
• Calculate ratios

Requirements

AccountingPod has its own submission requirements. Students are required to complete all modules as set out in the assignment. Was this assignment Is complete no further action to is to submit an assignment is required by students. The Completed modules are stored within the AccountingPod's cloud. All modules must be completed by the due date as specified in Subject Outline.

Requirements for all students
(i) Complete all modules which include an introduction to the use of Xero, as well as modules that are linked to Xero.

Your focus should be to use the materials provided within AccountingPod. This is a fully contained Accounting education environment which provide students with a step-by-step introduction to the use of the Xero, as well as exercises using this cloud based accounting application. Students can work at their own pace. This assignment concentrates on applying this knowledge to an accounting application that is used every day by business and accountants around the world.

Understand what your grades mean
Description of the grades

To get a HD, your work must be "exceptional" and "excellent" such that you deserve the "highest... recognition". A presentation like this would be a special one that is practically flawless.
D means the work "clearly deserves" to be called "excellent". A presentation like this gets everything correct, even if it isn't special or fancy.
C means it's better than average. There are some minor mistakes here and there, nothing seriously wrong, nothing very special, but interesting, nice, acceptable (most groups tend to get this).
P happens when you fulfil just the basic minimum and survived: you got some ideas correct, the audience thought you were unclear or not so professional but understood you somewhat.
F happens if you got many concepts and calculations wrong or failed to present.

Reference no: EM133778617

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