ACC10010 Accounting For Success

Question:

This assignment includes balance sheets, income statements, business research and more about accounting. you can choose any business/company you want.

Task:

In educational settings, a collaborative report assessment is a compilation of knowledge and materials that demonstrates a student’s understanding and skills developed.

In the Collaborative Report Assessment has 5 components which require students to:

1) Assume a hypothetical profitable business that has been operating for at least 3 years. List figures for income (at least 2), expenses (at least 15), assets (at least 8), liabilities (at least 5) and capital over two consecutive years

2) Correctly organise and construct an accurate and complete Income Statement and Balance Sheet for this business

3) Identify the nature and purpose of different ratios used in financial analysis by selecting 2 appropriate ratios to examine the profitability of the business and the efficiency of asset management and one ratio to analyse the profitability of sales.

4) Correctly use formulas to complete calculation of the ratios selected in scenario (1). Interpret the results of these ratios and appraise how your business has performed over the two years

5) Collect and inspect the latest industry averages for a similar business/competitor and compare trends revealed by comparison of industry averages with that of your business.