RECENT ASSIGNMENT

AYN416 Integrated Accounting Project (to be completed individually)
Objectives:
The objectives of this project are for students to demonstrate:
1. Skills and knowledge in the preparation of manual financial statements that comply with Generally Accepted Accounting Practice (Assurance of Learning Outcome KS 1.1)
2. Incorporate use of a computerised accounting package (Assurance of Learning Outcome KS 1.2)
3. Compare and reconcile the manual and computerised financial statements (Assurance of Learning Outcome HO 2.1)
This Accounting Project consists of completing the accounting cycle for a sole trader retail business for April 2016 using both manual records and Reckon accounting software.
Submission:
• The assignment must be submitted via Blackboard no later than 5pm on Wednesday 4 May 2016. (Refer assessment section: Assessment Item 2.)
• Complete the 20 minute 16 question quiz* relating to the Excel component on Blackboard no later than 5pm on Wednesday 4 May 2016. (Refer quiz link under the assessment section: Assessment Item 2).
*Excel quiz must be completed for your mark for Part A – The Excel mark is from your quiz mark only and the spreadsheet is not marked. If you submit an Excel file only, you will receive 0.
Note that you should start the submission process and quiz before 4pm on the due date as the submission can take some time and late submissions are not accepted.
Please upload via Blackboard:
Note: keep all file names to less than 15 characters e.g. ‘Excel Template’ as Blackboard does add your student number automatically to the file name:
- your Excel file (the quiz on the Excel component is completed via Blackboard)
- PDF files of 8 Reckon reports* with file names less than 12 characters * (eg TB.pdf) (see page 12)
- your Reckon file with file extension .QBW. (Files with .TLG and .ND extensions are not needed)
*Reckon reports must be submitted – if you submit a Reckon file only, it will not be marked and you will receive 0 for the Reckon component.
Assessments submitted after the due date without an approved extension will not be marked and will receive a grade of 1 or 0%. If special circumstances prevent you from meeting the assessment due date, you can apply for an extension. If you don’t have an approved extension you should submit the work you have completed by the due date and it will be marked against the assessment criteria.
Students are reminded to regularly check the Announcements of the AYN 416 Blackboard site for updates and clarifications to the Accounting Project. A Frequently Asked Questions document will be created in Blackboard and updated as required.
Requirements:
The Assignment comprises three (3) compulsory parts – Part A (8%), B (8%) and C (4%). Part A and B are worth 8% each and Part C is worth 4%. Total weighting is 20%,
Assessment Criteria
The total assessment for this Assignment is based on Assurance of Learning Criteria and is worth 20% of the total marks for the semester. The CRA sheet is provided at the end of this document.
Part A – Compulsory (8% weighting): Excel Quiz
Part A requires you to complete the requirements set out in the manual financial accounting task that follows. It is to be expected that you will demonstrate a comprehensive understanding of relevant concepts, principles and practice in the manual preparation and presentation of financial statements. Journal, ledger and an Excel worksheet template for this problem are available under the assignment folder in the assessment section on Blackboard.
The Excel component will be assessed by a 20 minute,16 question quiz on Blackboard using your printed Excel worksheet pages. Students are required to type in answers without formatting if it is a number (e.g. no $ or , or decimals) or enter free text (e.g. x for question 3 below). Do not insert any symbols and use English in any text responses.
Excel Quiz Question Examples & Answers (no number formats used)
1. What is the total sales revenue for the month of April? 66180
2. What is the total of the non-current assets as at 31 March on the Comparative Statement of Financial Position? 24212
3. What Posting Reference appears below the total of the “Other Accounts” column in the Cash Payments Journal? A cross or x
4. What is the amount of the credit posting in the accounts receivable general ledger account on 30 April? 43200
5. What is the balance of the accounts receivable general ledger account on 30 April? 53334
6. How much did Snowy Resort owe to Active Sports as at 26 April? 22000
Part B – Compulsory (8% weighting): Reckon Software
Part B requires you to complete the requirements set out in the computerised financial accounting task that follows. It is to be expected that you will demonstrate a comprehensive understanding of relevant concepts, using Reckon software. Demonstration videos, exercises and other supporting materials are available under Learning Resources/ Reckon Software Materials on Blackboard.
Part C – Compulsory (4% weighting): Reconciliation of Manual and Reckon Accounting Task
Part C requires you to critically evaluate Excel and Reckon reports to initially identify any differences and ultimately to reconcile to each other.

PART A
BACKGROUND AND FACTS

Lauren Flintoff is the owner of Active Sports, a retail sports equipment business located in Milton. She established the business 3 years ago and operates as a sole trader.
Lauren submits the Business Activity Statements (GST Return) quarterly on an accruals basis.
Lauren is currently using a manual system to prepare the financial records. She has come to you to implement Reckon software. To ensure the accuracy of the software implementation, she has asked you to prepare both manual records and records in Reckon for the month ending 30 April 2016.
Refer to Chart of Accounts below when preparing journals for the account numbers and names used.

Chart of Accounts and Trial Balance as at 31 March, 2016
Account No. Account Name Balance
DR CR
101 Cash at Bank – ANZ 27,580
110 Accounts Receivable 36,518
112 Inventory 46,770
115 Prepaid Insurance -
118 Office Supplies Inventory 1,520
130 Computer Equipment 24,460
131 Accumulated Depreciation - Computer Equipment 15,288
135 Store Equipment 29,080
136 Accumulated Depreciation - Store Equipment 14,040
200 Tax Payable (GST) 12,450
201 Accounts Payable 28,970
203 Wages Payable -
205 PAYG Tax Payable 5,180
301 Capital 90,000
Total 165,928 165,928
302 Drawings
307 Income Summary
401 Sales Revenue
402 Sales Returns & Allowances
501 Cost of Goods Sold
503 Bank Charges
505 Depreciation Expense - Computer Equipment
506 Depreciation Expense - Store Equipment
520 Insurance Expense
522 Marketing Expense
542 Office Supplies Expense
560 Rent Expense
580 Telephone and Internet Expense
582 Utilities Expense
585 Wages Expense

Accounts Receivable Subsidiary Ledger as at 31 March
Dawson Training 23,120
Indigo Sports Centre 7,448
Mainstream Adventures 0
Snowy Resort 0
Weston High School 5,950
Total 36,518
Accounts Payable Subsidiary Ledger as at 31 March
Ballistic Sports 16,500
Dunlop 0
Insight Computers 4,520
Odin Training & Recruitment 1,100
Premium Accountants 3,850
Sports Wholesalers 3,000
Total 28,970
Inventory Balances as at 31 March
Active Sports sells three types of inventory and uses a perpetual inventory system.
The stock take at 31 March showed:
Item Description Units on Hand Unit Cost
(excl GST) $ Total Value
(excl GST) $ Unit Selling Price
(excl GST) $
Tennis racquets 64 160 10,240 320
Cross Trainers 23 110 2,530 220
Skis 17 2,000 34,000 4,000
46,770
Cost price of inventory items remains constant for the month and thus the inventory cost flow method is irrelevant for this assignment.
Accounting Information

The business uses the following specialised journals to record its business transactions:
• A Sales Journal is used to record the sale of inventory on credit during the month (not sales returns).
• A Cash Receipts Journal is used to record all cash received.
• A Cash Payments Journal is used to record all cash paid.
• A Purchases Journal is used to record all purchases of inventory on credit (not purchase returns).
• A General Journal is used to record all other transactions. All invoices received for expenses incurred and owing are recorded in the general journal at the time of receiving the invoice. (Narrations are not required for general journal transactions.)

The business uses a general ledger, an accounts receivable subsidiary ledger and an accounts payable subsidiary ledger. The 4 column running balance form of ledger account is used.
The business does use a Sales Returns and Allowances account in the current manual system to record sales returns from customers. Note that there is no ability in our Reckon student version software to record Sales Returns separately. Instead the software will process a sales return as a reduction from Sales Revenue. Do not create a separate Sales Returns account in Reckon.
NOTE: There is an extra column in the ledger accounts to make a note of source document numbers etc. We do not have such information so leave this column blank.
Financial statements are prepared at the end of each month. The accounts are also closed off at the end of each month.
An Excel template is available on the Blackboard site and is to be used to complete the manual accounting task. Reckon software is to be used to prepare computerised records in Part B to ensure they agree for Part C.

The business transactions that occurred in April 2016 are as follows: (refer chart of accounts for account names and numbers. Do not make up your own account names).
1. April 1 Paid rent for April $4,400 with cheque number 46 (including GST $400).
2. April 1 Purchased an Apple MacBook Pro on credit from Insight Computers for $1,342 (including GST $122)
3. April 2 Purchased office supplies with cheque number 47 for $770 (including GST $70)
4. April 2 Sold 5 pairs of skis on credit to Snowy Resort, invoice number AB32 $22,000 (including GST $2,000).
5. April 3 Purchased 40 tennis racquets on credit from Dunlop $ 7,040 (including GST $640).
6. April 4 Paid for prepaid insurance of $1,320 for 12 months effective 1 April (including GST $120) with cheque number 48.
7. April 4 Sold 23 pairs of cross trainers, 6 tennis racquets and 1 pair of skis as a cash sale for $12,078 (including GST $1,098) (Choose Deposit to ANZ Bank Account in Reckon).
8. April 4 Lauren withdrew $8, 000 cash for her personal use with cheque number 49 (no GST applicable.)
9. April 4 Paid the monthly net wages of the staff of $10,400 with cheque number 50 (no GST applicable.)
10. April 10 Sold 4 pairs skis and 20 tennis racquets on credit to Mainstream Adventures, Invoice Number AB33 $24,640 (including GST $2,240).
11. April 11 Purchased 50 pairs of cross trainers and 5 pairs of skis on credit from Sports Wholesalers $17,050 (including GST $1,550).
12. April 14 Paid Premium Accountants the balance owing of $3,850 with cheque number 51.
13. April 21 Paid Ballistic Sports $15,400 with cheque number 52 as part payment of prior month purchases of inventory.
14. April 21 Issued a credit note to Mainstream Adventures for return of 2 tennis racquets, Credit Number 14 $704 ($640 plus GST $64). (Retain as an available credit in Reckon).
15. April 22 Received $15,200 from Dawson Training as payment on account. (Choose Deposit to ANZ Bank Account in Reckon).
16. April 26 Paid the monthly telephone and internet expense with cheque number 53 for $275 (including GST $25).
17. April 26 Invoiced Dawson Training for 40 tennis racquets, Invoice Number AB34 for $14,080 (including GST $1,280).
18. April 28 Received $6,000 on account from Indigo Sports Centre.
19. April 28 Returned 5 pairs of cross trainers to Sports Wholesalers and received a credit of $ 605 (including GST $55).
20. April 30 Lauren lodged her quarterly Business Activity Statement (BAS return) and paid cheque number 54 to the ATO for a total of $17,630. This represented the March quarter Tax Payable (GST) of $12,450 and also the previous month PAYG tax payable of $5,180. (Record each item on a separate line in Excel). (Use Write Cheques function in Reckon).
21. April 30 Received $22,000 from Snowy Resort as payment on account.
22. April 30 Paid the marketing expenses for April with cheque number 55 for $814 (including GST $74).
23. April 30 Paid for utilities expense for April with cheque number 56 for $616 (including GST $56).
24. April 30 Bank Statement: Paid bank charges of $25 (no GST applicable). (Use Write Cheques function in Reckon)
25. April 30 Record a general journal entry for $2,590 for the total PAYG tax withheld on the monthly wages. (Debit wages expense and credit PAYG Tax Payable). (PAYG tax payable is tax withheld from staff wages owed to the government.)
26. April 30 Lauren contributed $2,500 of capital into the business bank account.
EXCEL CHECK VALUES TO ASSIST YOU TO COMPLETE THE SET ACCURATELY:
Total of the Unadjusted Trial Balance Columns of the Worksheet $228,697
Total of the Adjustments Columns of the Worksheet $6,288
Total of the Adjusted Trial Balance Columns of the Worksheet $233,035
Net profit for April $7,917
Please ensure you have done all the homework questions for topics 2 to 6 especially topic 6 special journals before attempting this assignment.
Before Starting Excel Component:
It is vital that you complete Problem 7.5 from the textbook which covers special journals and the required postings before you start the Excel component of this assignment otherwise you may waste significant amounts of time.
Useful Tips
• Proofs have been inserted in the journals to help you identify that Total Debits = Total Credits. (Each Proof should display 0).
• Formulas exist in some areas of the template to assist students but other formulas are required (eg general ledger accounts balances for Income Summary, drawings, revenue and expenses)
• To insert a v for your subsidiary ledger postings, use Insert Symbol and scroll down to find the tick.
• To minimise errors and maximise efficiency, it is recommended to enter values in the journal area only, then use Excel formula links to post to general ledger and/or subsidiary ledger and other areas of the template.
• The 2nd column of the General Ledger and Subsidiary Ledger accounts is to be left blank.
• Enough space has been provided in the Excel template – do not insert extra rows or columns.

Part A EXCEL Accounting Task Instructions (1 – 9)
1) Open up the Excel student template provided on Blackboard and enter your name and student number into the footer section on the first tab (Chart of Accounts)
2) Record the April transactions in the following journals: cash payments, cash receipts, purchases, sales and general journal. (Opening balances at 31 March have been entered into the general ledger and subsidiary accounts).
3) Postings are done either daily or monthly. Post daily to the subsidiary ledgers. Post daily from the general journal. Post the monthly totals of the special journals to the general ledger. Include posting references in the journals. (There will be only 2 postings to ANZ Bank Account – total receipts and total payments).
NOTE: For posting reference purposes in the ledgers, please use the journal page numbers indicated next to the journal title (eg SJ18, PJ18, CPJ25, CRJ17, GJ62, GJ63, GJ64).

4) Prepare a trial balance as at 30 April 2016, in the trial balance columns of the worksheet.
5) Complete the worksheet using the required adjusting entries below for the month of April :
A) Accrued Wages
Wages owing as at 30 April are $3,300.
B ) Insurance
Noted in the transactions above, Lauren prepaid 12 months of insurance on April 4.
C ) Depreciation – Store Equipment
Annual Depreciation on Store Equipment has been calculated at $5,616.
D ) Depreciation – Computers
Annual Depreciation on Computers has been calculated at $6,840.
E) Office Supplies Expense
On 30 April, Lauren performed a stocktake of office supplies and $370 of supplies remained.
6) Prepare and post the adjusting entries.
7) Prepare the following statements for month ended 30 April in accordance with AASB 101:
- a classified income statement classified by business function (expense classification below)
- a statement of changes in equity, and
- a classified statement of financial position (or balance sheet) with comparative values as at 31 March. (Use separate columns for comparison of 31 March values with 30 April values).
Note that there is a need to split Sales and Sales Returns separately in the manual system as discussed earlier.
For Income Statement business function expense classification, use the following information:
Selling Expenses: Wages
Administrative Expenses: Depreciation – Computer Equipment, Depreciation – Store Equipment, Insurance Expense, Marketing Expense, Office Supplies Expense, Rent Expense, Telephone and Internet Expense, Utilities Expense
Finance Expenses: Bank Charges
8) Prepare and post the closing entries.
9) Prepare a post-closing trial balance and confirm whether the total of the subsidiary ledgers agree with the respective control accounts in the general ledger for accounts receivable and accounts payable.
EXCEL CHECK VALUES TO ASSIST YOU TO COMPLETE THE SET ACCURATELY:
Total of the Unadjusted Trial Balance Columns of the Worksheet $228,697
Total of the Adjustments Columns of the Worksheet $6,288
Total of the Adjusted Trial Balance Columns of the Worksheet $233,035
Net profit for April $7,917

Part B Reckon Accounting Task Instructions (1 – 12)

Before Starting Reckon Component:
It is vital that you complete the 2 Essential Reckon exercises for your Assignment under Learning Resources/ Reckon Support Materials before you start the Reckon component of this assignment otherwise you may waste significant amounts of time.

Reckon software is to be used to prepare computerised records in Part B to ensure they agree with the manual records. It is important to save and backup regularly to your QUT student network drive or other secure location rather than relying on a USB or to the local drives of QUT computers which are cleared as users log off. Do not rely on one file location in case there is a problem such as corruption, losing USB etc. Reckon will name your original files with the extension. QBW and the backup files .QBB.
Marks will be allocated, where students have produced correct reports that reconcile to the required values. Remember, key figures such as profit are provided and the client is expecting you to ensure Excel and Reckon agree. If they don't agree or you don’t allow enough time and only achieve the initial set up process, low marks will result because you haven't achieved assessment or client requirements.
1) Establish a new data base in Reckon.
Step 1 Company Information.
On the Reckon menu bar, click File New company.
Click Start Interview

Enter Company Name and add your student number and surname and to the end of the company name. (eg Active Sports 9084574 Marsland). Leave other fields blank.
Note: Click Next at each step of the interview to move on.
Step 2: Select your industry. Select Product Sales/ Retail
Step 3: How is your company organised? Select Individual Tax Return
Step 4: Select the first month of your financial year. Select: July
Step 5: Ignore passwords
Step 6: Create your company file, indicating a directory to save to. Click Save.
Step 7: Customising
In the interview process, choose the Preferences below. Take care to enter carefully as you can’t change these preferences and would otherwise need to start again:
Field Select Then
What do you sell? Products only Click Next
Do you track tax? Yes Click Next
Do you want to create estimates in Reckon? No Click Next
Do you want to track sales orders before you tax invoice your customers? No Click Next
Do you want to use sales receipts in Reckon? Yes Click Next
Do you want to use billing statements in Reckon? No Click Next
Field Select Then
Do you want to use invoices in Reckon? Yes Click Next
Do you want to use progress invoicing? No Click Next
Do you want to keep track of the bills you owe? Yes Click Next
Do you want to track inventory in Reckon? Yes Click Next
Do you want to track time in Reckon? No Click Next
Do you have employees? No Click Next twice
Select a start date to start tracking your finances Enter 31/03/2016 Click Next
Would you like to add an existing bank account? Yes Click Next
Key in ANZ Bank Account for the name of the bank account. Click on or after 31/03/2016. Click Next three times. Click Finish to complete the initial set up process.
2) Set up preferences for banking for all receipts and payments to process to the ANZ Bank Account (otherwise they will default to Undeposited Funds).
3) Important: Set up user for Audit Trail Log to enable production of an Audit Trail Report.
Click on Company. Click on Set Up Users. Click on Add User.
Enter your student number followed by your surname (eg 9084574 Marsland). Record exactly what you have typed safely as you will use it to log in and record all of the assignment transactions.
Do not enter Passwords. Click Next Click No that you do not want to enter a password.
Click on All Areas of Reckon Accounts (for the user to enable access).
Click Yes to confirm that you do wish to allow the user to access all areas of Reckon. Click Finish. Click Close.
4) Choose the option File/ Close Company/(Log Off and Open the Active Sports.QBW File that you have established. Now log into Reckon using the User Name that you established earlier.
(if you forget your username, log in as Admin and note down the user name and repeat the log in process).The Administration User is not to be used in any of the assignment process, otherwise you will receive 0 for the Reckon component.

Set up lists and Opening Balances for Inventory, Customers and Suppliers as at 31 March 2016. (Addresses are not required for this project for customers or suppliers).
5) Run an Audit Trail Report as at 31 March 2016 to ensure that you can see your User Name in all the transactions (not the Admin user). If you fail to submit an Audit Trail Report or submit an Audit Trail with the Admin user only recorded, you will receive 0 for the Reckon component.
6) Enter opening balances for all other accounts as at 31 March 2016.
7) Run a trial balance as at 31 March 2016 to ensure all opening balances are accurately entered. Process a general journal entry to correct the items in the trial balance which require adjustment including processing a general journal entry to correct Uncategorised income, Uncategorised expenses and Opening Balance (equity).
8) Save your file. Also, backup your Reckon file using the Save Copy or Backup function (which will name it with the extension.QBB).
9) Record the April transactions in Reckon, opening new accounts as necessary. For Reckon, you do not need to use the account numbers provided in the Chart of Accounts.
Tips:
GST codes: where payments have GST included, use the tax code NCG for expenses and CAG for the purchase of the computer.
Bank Accounts: Check each receipt and payment is processed to the ANZ bank account, not Undeposited Funds).
Dates: ensure that dates are entered correctly in the month of April.
Names: are required if the transactions involve Accounts Receivable or Accounts Payable but for other transactions such as Cash Sales and Cash Cheques, you can simply enter “Cash Sale” or “Cash” respectively.
Regularly save and backup your files. Do not rely on 1 file location in case there is a problem such as corruption, losing USB etc. Reckon will name your original files with the extension. QBW and the backup files .QBB.
10) Prepare a trial balance as at 30 April 2016 and ensure all account values agree to the unadjusted manual trial balance prepared in Part A except for Sales and Sales Returns. (Reckon Trial Balance total should be $228,057 as Sales Returns is netted off against Sales in Reckon not displayed separately as it is in Excel).
Note that there is no ability in our Reckon student version software to record Sales Returns separately. Instead the software will process a sales return as a reduction from Sales Revenue.
Do not create a separate Sales Returns account in Reckon.
11) Process the adjusting entries above in Reckon.
12) Print to pdf the following reports from Reckon. Combine into 1 pdf if possible for ease of marking.
Please name your report files for submission to Blackboard with a file name less than 12 characters so that we can download them for marking.(e.g. TB.pdf).
- Journals: 31 March to 30 April 2016 (Reports Accountant)
- Trial Balance as at 30 April 2016 (Reports Accountant)
- Profit and Loss Standard: 1 to 30 April 2016* (Reports Company & Financial)
- Balance Sheet as at 30 April 2016 (Reports Company & Financial)
- Inventory Valuation Summary as at 30 April 2016 (Reports Inventory)
- Customer Balance Detail as at 30 April 2016 (Reports Customers & Receivables)
- Supplier Balance Detail as at 30 April 2016 (Reports Suppliers & Payables)
- Audit Trail Report (Date Range: 1/4 to today’s date) (Reports Accountant: Audit Trail)
* Note Profit and Loss does not need to be classified into Business Function for Reckon.
Closing entries are not required in Reckon as they are done automatically by the software.
RECKON CHECK VALUES TO ASSIST YOU TO COMPLETE THE SET ACCURATELY:
Total of Unadjusted Trial Balance (due to netting off sales returns in sales) $228,057
Total of Adjusted Trial Balance (due to netting off sales returns in sales) $232,395

Part C Reckon Accounting Task Instructions (1 – 13)
Ensure all reports agree with manual reports generated in Part A (except for different treatment of Sales Returns in Reckon as Sales Returns is netted off Sales in Reckon not displayed separately as it is in Excel.)
Note that there will be minor differences in the naming used in Reckon (eg Trade Receivables, Trade Creditors and Tax Payable have equivalent names to the Excel Chart of Accounts and don’t need to be altered).
Similarly, the order of accounts must be logical and in the correct categories within Current Assets, Fixed Assets, Current Liabilities and Equity. Ensure that the Balance Sheet displays Original Cost of Fixed Assets above Accumulated Depreciation and that Capital displays above Drawings. (These can be altered in the Chart of Accounts as demonstrated in the sample exercises).
In Reckon, there is no need to remove accounts with a zero balance as they are fine to leave as they are.
For Reckon, you do not need to use the account numbers provided in the chart of accounts.
Specifically, check the following four items to ensure they are the same in both Excel and in Reckon:
- Gross Profit
- Net Income or Net Profit
- Total Assets
- Total Equity
Support Provided:
• Materials are on Blackboard to assist with Excel and Reckon
• Consultation with Staff and Postgraduate Learning Advisors who are able to assist
• Frequently Asked Questions on Blackboard to enable any clarifications or answer any common questions – this will be an iterative document that will be developed as students make enquiries
• IT Helpdesk can assist with installation of Reckon.

AYN416 FINANCIAL ACCOUNTING 1 – ASSIGNMENT CRITERIA SHEET
Student Name: …………………………………………………. Student No.: ………………. Date: ……………..
Part A –Manual Accounting Task (8% weighting) Assessed using Blackboard Quiz: 16 questions in 20 minutes using your complete printed Excel template
Criteria 4 ( 50%) 4 (50% - 64%) 5 (65% - 74%) 6 (75% - 84%) 7 ( 85% ) Mark
Knowledge and Skills (KS 1.1) Demonstrated little understanding of relevant concepts, principles and practices. Major inaccuracies evident.
Demonstrated some understanding of relevant concepts, principles and practices. Some inaccuracies evident.
Demonstrated a good understanding of relevant concepts, principles and practices with some minor inaccuracies.
Demonstrated a good understanding of relevant concepts, principles and practices.
Demonstrated a comprehensive understanding of relevant concepts, principles and practices.

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Part B – Reckon Accounting Task (8% weighting)
Criteria 4 4 5 6 7 Mark
Knowledge and Skills (KS1.2) Demonstrated a lack of proficiency in the use of accounting software and summarising results.
Demonstrated some competence in the use of accounting software and summarising results.
Demonstrated competence in the use of accounting software and summarising results.
Demonstrated proficiency in the use of accounting software and summarising results.
Demonstrated high proficiency in the use of accounting software and summarising results.

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Part C – Reconciliation of Manual and Reckon Accounting Task (4% weighting)
Criteria 4 4 5 6 7 Mark
Higher Order Thinking Skills
(HO2.2) Demonstrated a lack of proficiency of critical evaluation between Excel and Reckon reports to initially identify any differences and ultimately to reconcile to each other. Demonstrated some competence of critical evaluation between Excel and Reckon reports to initially identify any differences and ultimately to reconcile to each other.
Demonstrated competence of critical evaluation between Excel and Reckon reports to initially identify any differences and ultimately to reconcile to each other.
Demonstrated proficiency of critical evaluation between Excel and Reckon reports to initially identify any differences and ultimately to reconcile to each other.
Demonstrated high level of critical evaluation between Excel and Reckon reports to initially identify any differences and ultimately to reconcile to each other.

/ 4
Total Marks (20% weighting) Marks