How the accounting process can be more efficient

Assignment Help Financial Accounting

Reference no: EM133767090

Financial Accounting

Assessment - Xero Assignment

Simulation

Your Task

The assessment has two requirements:

Part A: XERO Case Study

You are required to record transactions for a fictitious business for one month and prepare the necessary reports.

Part B: In-class presentation

You are required to conduct an in-class pitch to a prospective client, demonstrating how the accounting process can be more efficient and effective.

Assessment Description

This assignment has two parts:

Part A: Enter all the transactions on Xero for one month for a fictitious business. You must carefully read the case study documents available on MyKBS and follow all the instructions. You must also watch the videos provided. Once you have entered all the transactions, you must prepare the following reports and submit a PDF copy on MyKBS (via Turnitin).
Accounts Transactions Report for July 2024
Trial balance as of 31 July 2024
Profit and Loss Statement for the month ending July 2024
Balance Sheet as of 31 July 2024
Screenshot of the assurance dashboard

Part B: After completing the above reports, you are required to identify area/s of improvement for this business and provide a recommendation on how the business could make its processes more efficient and effective. To do this, you are required to explore the Xero App Market Place and identify three applications (within the same category) that the business should adopt. Your evaluation should include a comparison of the various features of these applications and a summary of the expected annual cost. You must also provide a final recommendation. You are required to deliver a 5-minute in-class presentation.

Assessment Instructions

You must attend the Xero workshop in Week 7. Your facilitator will explain the essential requirements of this assessment, highlight the pitfalls to avoid and discuss how to conduct the Xero pitch.

To activate your subscription, you must accept the XERO invite sent to your email ID and create a XERO account.

If you do not accept the invite, it will expire in 14 days, and you cannot access the Xero application to complete the assignment.

Complete the steps below in the week 7 workshop to start Part A, the Xero case study.

Step 1: Accept the XERO invite.
Step 2: Create a Xero account to activate your Xero subscription
Step 2: Set up 2-factor authentication.

Review the videos uploaded under the Assessment 3 section on LMS.

Complete all the requirements mentioned in the XERO case study document and upload the reports as a single PDF file on the Turnitin submission link.

For Part B - XERO pitch, use visual aids like PPT (PowerPoint) slides and limit the presentation to a maximum of 5 minutes.

Instructions on the use of GenAI/ChatGPT for this assessment
For this assessment, using GenAI is optional.

Use the ideas/information generated by GenAI after cross-referencing them with other reliable sources. You must reference all resources used including GenAI (Referencing).

Reference no: EM133767090

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