Assignment front sheet
Qualification
Unit number and title
Pearson BTEC Level 5 HND Diploma Business
Unit 10: Financial Accounting and Financial Reporting
Student name
Assessor name
Date issued
Completion date
Submitted on
28/03/15
09/05/15
Assignment title
Presentation of financial information and Interpretation of Financial Statements (2 of 2)
Learning Outcome
Learning outcome
Assessment Criteria
In this assessment you will have the opportunity to present evidence that shows you are able to:
Task no.
Evidence
(Page no)
LO3
Be able to present financial information in accepted formats for publication
3.1
Explain how the information needs of different user groups vary
1
3.2
Prepare financial statements in a form suitable
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Their trial balance as at 30 April 20X4 was as follows:
Sales
Dr
£
Cr
£
334,618
Returns inwards
10,200
Purchases
196,239
Carriage inwards
3,100
Stock 30 April 20X3
68,127
Discounts allowed
190
Salaries and wages
54,117
Bad debts
Provision for doubtful debts 30 April 20X3
General expenses
1,620
1,017
950
Business rates
2,900
Postage
845
Computers at cost
8,400
Office equipment at cost
Provisions for depreciation at 30 April 20X3: Computers
5,700
3,600
Office equipment
2,900
Creditors
Debtors
51,320
36,480
Cash at bank
5,214
Drawings: Bush
39,000
Home
16,000
Wilson
28,000
Current accounts: Bush Home Wilson
2,117
5,940
9,618
Capital accounts: Bush
60,000
Home
10,000
Wilson
30,000
494,106
494,106
(i) Stock 30 April 20X4, £74,223.
(ii) Business rates in advance £200; Stock of postage stamps £68.
(iii) Increase provision for doubtful debts to £1,400.
(iv) Salaries: Home £18,000; Wilson £14,000. Not yet recorded.
(v) Interest on Drawings: Bush £300; Home £200; Wilson £240.
(vi) Interest on Capitals at 8 per cent.
(vii) Depreciate Computers £2,800; Office equipment £1,100.
Task3: Draw up a set of financial statements for the year ended 30 April 20X4. (Assessment criteria 3.2 )
Scenario 3:
The partnership firm is now converted into a General plc company form of organization. The following trial balance was extracted from the books of General plc on 31 December 20x1.
£000
£000
Sales
If you work this problem as a group assignment, each group member should be prepared to
The way how I identify and use different types of evidences when carrying out assessments are by reading through all the chosen units assessment reports to have a clear understanding of the criteria/elements which the candidate must meet.
For the learner’s evidence to be sufficient, it needs to relevant and proves that the learner is competent. The evidence must mean something to the learner and must not just be used for the sake of it. The evidence must be clear and logical and must meet the learning outcomes and assessment criteria.
The evidence for this task could be presented in the form of a written report or presentation. If a presentation is the form chosen to present the evidence, you must include a witness statement from the assessor/tutor and use the following points as guidelines:
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The purpose of accounting cycle report is to keep the best accounting records up to date. It also assist in producing the best possible financial statement that shows the true pictures of the business or organization and help making a good call whether business is profitable or not.
If your evidence meets the requirements of the units of competency you will be assessed
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