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    Aiou 8401

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    HIna Affandi
    This document provides instructions for two assignments in Principles of Accounting. It outlines: 1. Assignment 1 which contains 4 long-form questions testing concepts like financial statements, accounting fields, bank reconciliation, and single-entry accounting. 2. Assignment 2 which requires students to research and report on an accounting topic based on the last digit of their student ID, following a specific report format. 3. Workshop presentation guidelines where students will present their Assignment 2 reports using transparencies, with an emphasis on communication skills, knowledge of concepts, and applicability to organizations. Both assignments evaluate theoretical understanding and real-world application of accounting principles.

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    © All Rights Reserved
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    Aiou 8401

    Uploaded by

    HIna Affandi
    1K views4 pages
    This document provides instructions for two assignments in Principles of Accounting. It outlines: 1. Assignment 1 which contains 4 long-form questions testing concepts like financial statements, accounting fields, bank reconciliation, and single-entry accounting. 2. Assignment 2 which requires students to research and report on an accounting topic based on the last digit of their student ID, following a specific report format. 3. Workshop presentation guidelines where students will present their Assignment 2 reports using transparencies, with an emphasis on communication skills, knowledge of concepts, and applicability to organizations. Both assignments evaluate theoretical understanding and real-world application of accounting principles.

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    aiou 8401

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    This document provides instructions for two assignments in Principles of Accounting. It outlines: 1. Assignment 1 which contains 4 long-form questions testing concepts like financial statements, accounting fields, bank reconciliation, and single-entry accounting. 2. Assignment 2 which requires students to research and report on an accounting topic based on the last digit of their student ID, following a specific report format. 3. Workshop presentation guidelines where students will present their Assignment 2 reports using transparencies, with an emphasis on communication skills, knowledge of concepts, and applicability to organizations. Both assignments evaluate theoretical understanding and real-world application of accounting principles.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    1K views4 pages

    Aiou 8401

    Uploaded by

    HIna Affandi
    This document provides instructions for two assignments in Principles of Accounting. It outlines: 1. Assignment 1 which contains 4 long-form questions testing concepts like financial statements, accounting fields, bank reconciliation, and single-entry accounting. 2. Assignment 2 which requires students to research and report on an accounting topic based on the last digit of their student ID, following a specific report format. 3. Workshop presentation guidelines where students will present their Assignment 2 reports using transparencies, with an emphasis on communication skills, knowledge of concepts, and applicability to organizations. Both assignments evaluate theoretical understanding and real-world application of accounting principles.

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    © All Rights Reserved
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    Download as doc, pdf, or txt
    of 4

    Final: 6-12-2021

    ALLAM IQBAL OPEN UNIVERSITY, ISLAMABAD


    (Department of Business Administration)
    ***
    WARNING
    1. PLAGIARISM OR HIRING OF GHOST WRITER(S) FOR SOLVING
    THE ASSIGNMENT(S) WILL DEBAR THE STUDENT FROM AWARD
    OF DEGREE/CERTIFICATE, IF FOUND AT ANY STAGE.
    2. SUBMITTING ASSIGNMENT(S) BORROWED OR STOLEN FROM
    OTHER(S) AS ONE’S OWN WILL BE PENALIZED AS DEFINED IN
    “AIOU PLAGIARISM POLICY”.

    Course: Principles of Accounting (8401) Semester: Autumn, 2021


    Level: BBA (4 Years)

    Total Marks: 100 Pass Marks: 50


    ASSIGNMENT No. 1

    Instructions: You must answer the questions in your own words. Copying from books
    is not permissible. Give supporting calculations where necessary.

    Q. 1 (a) Discuss the main features of various financial statements? (20)


    (b) What are the major fields of accounting?

    Q. 2 (a) How the study of accounting can be helpful in our daily life?
    (b) What is the purpose of preparing income statement and balance sheet? (20)

    Q. 3 Shown below is the information needed to prepare a bank reconciliation for Data
    Flow Inc. at Dec 31. (20)
    i. At Dec 31, cash per the bank statement was Rs. 15,981; cash per the
    company’s records was Rs.17,445.

    1
    ii. Two debt memoranda accompanied the bank statement: service charges for
    December of Rs.24, and a Rs. 600 check drawn by Jane Hones marked
    “NSF”.
    iii. Cash receipts of Rs.4353 on December 31 were not deposited until January
    4.
    The following checks had been issued in December but were not included
    among the paid checks returned by the bank: No.620 for Rs.978, No.630 for
    Rs.2052 and No. 641 for Rs.483.
    Required:
    1. Prepare bank reconciliation at December 31.
    2. Write short note on Imprest Petty Cash system.

    Q. 4 Zafar keeps his books by single entry. His financial position on 1 st January, and 31st
    December 1989 is as under: (20)
    1st January, 1989 31st December, 1989
    Cash in hand – 1160
    Bank balance 3600 (Cr.) 14,400
    Stock 19,200 20,400
    Accounts Receivable 30,000 37,800
    Accounts Payable 28,000 24,000
    Bills Payable 1000 1400
    Plant & Machinery 30,000 —
    Furniture & Fixture 9,200 —

    During the year Zafar had withdrawn Rs. 12,500 of this sum Rs.9500 had been
    spent by him for purchasing a delivery van for the business.

    Depreciate plant and machinery by 12%, furniture and fixture by 10% delivery van
    by 8%, and making a reserve of 3% for bad and doubtful debts. Allow interest on
    capital at 5%.
    Required: Ascertain the profit & loss of Zafar for the year, 1989.

    Q. 5 Calculate the value of closing stock under LIFO, FIFO and weighted average
    method? (20)
    Purchases Issues
    Jan 5 100 pieces @ Rs.2.20 each Jan 2 150 pieces
    Jan 10 150 pieces @ Rs.2.40 each Jan 7 100 pieces
    Jan 20 180 pieces @ Rs.2.50 each Jan 12 100 pieces
    Jan 28 200 pieces

    2
    ASSIGNMENT No. 2
    Total Marks: 100 Pass Marks: 50

    This assignment is a research-oriented activity. You are required to obtain information


    from a business/commercial organization and prepare a report of about 1000 words on
    the issue allotted to you to be submitted to your teacher for evaluation.

    You are required to select one of the following issues according to the last digit of your
    roll number. For example, if your roll number is P-3427180 then you will select issue # 0
    (the last digit): -
    ISSUES:
    0- Inventory Management
    1- Accounting Receivable
    2- Accounting Information System
    3- Accounting for Plant Assets (Acquisition & Disposal)
    4- Accounting for Merchandizing Business
    5- Partnership Accounting
    6- Accounting for Non-profit Organization
    7- Accounting for Bank Reconciliation
    8- Accounting for Cash & Short-term Investment
    9- Application of International Accounting Standard

    The report should follow the following format:


    1. Title page
    2. Acknowledgements
    3. An abstract (one-page summary of the paper)
    4. Table of contents
    5. Introduction to the issue (brief history & significance of issue assigned)
    6. Practical study of the organization (with respect to the issue)
    7. Data collection methods
    8. SWOT analysis (strengths, weaknesses, opportunities & threats) relevant to the
    issue assigned
    9. Conclusion (one-page brief covering important aspects of your report)
    10. Recommendations (specific recommendations relevant to issue assigned)
    11. References (as per APA format)
    12. Annexes (if any)

    GUIDELINES FOR ASSIGNMENT # 2:


     1.5 line spacing
     Use headers and subheads throughout all sections
     Organization of ideas
     Writing skills (spelling, grammar, punctuation)
     Professionalism (readability and general appearance)

    3
     Do more than repeat the text
     Express a point of view and defend it.
     
    WORKSHOPS
    The workshop presentations provide students opportunity to express their communication
    skills, knowledge & understanding of concepts learned during practical study assigned in
    assignment # 2.

    You should use transparencies and any other material for effective presentation. The
    transparencies are not the presentation, but only a tool; the presentation is the
    combination of the transparencies and your speech. Workshop presentation
    transparencies should only be in typed format.

    The transparencies should follow the following format:


    1) Title page
    2) An abstract (one-page summary of the paper)
    3) Introduction to the issue (brief history & significance of issue assigned)
    4) Practical study of the organization (with respect to the issue)
    5) Data collection methods
    6) SWOT analysis (strengths, weaknesses, opportunities & threats) relevant to the
    issue assigned
    7) Conclusion (one-page brief covering important aspects of your report)
    8) Recommendations (specific recommendations relevant to issue assigned)

    GUIDELINES FOR WORKSHOP PRESENTATION:


     Make eye contact and react to the audience. Don't read from the transparencies or
    from report, and don't look too much at the transparencies (occasional glances are
    acceptable to help in recalling the topic to cover).
     A 15-minute presentation can be practiced several times in advance, so do that until
    you are confident enough. Some people also use a mirror when rehearsing as a
    substitute for an audience.

    WEIGHTAGE OF THEORY & PRACTICAL ASPECTS IN ASSIGNMENT # 2 &


    WORKSHOP PRESENTATIONS
    Assignment # 2 & workshop presentations are evaluated on the basis of theory & its
    applicability. The weightage of each aspect would be:
    Theory: 60%
    Applicability (practical study of the organization): 40%

    ======

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