Assessment Information and Rubric
Subject Code
ACC500
Subject Name
Business Decision Making
Assessment Number and Title
Assessment 2 – Accounting Practice set using
Excel templates (individual)
Assessment Type
Practice Set
Length / Duration
Completion of Excel spreadsheets
Weighting %
20
Total Marks
100
Submission
Moodle Assignment submission box
Due Date
Week 8
Mode
Individual submission
Format
Excel calculations
Assessment Description and Instructions
The pivotal role of accountants today is to undertake much accounting work using computers (small
accounting software or ERP system). The practice set question in this Assessment 2 enable Business
students to understand and apply various steps in the accounting cycle and appraise the flow of
business transactions through a simple set of accounting transactions. The assumptions will be
considered in the question include the business is a sole proprietorship (non-GST) and use of
perpetual/periodic inventory system. The practice set question will be provided by the academic
coordinator on Moodle along with the questions and Excel templates to complete the accounting cycle
steps for this part.
In this assessment you will require to complete and prepare individually the following tasks from the
selected questions:








Charts of accounts
General journals
Related T-Accounts
Necessary adjusting entries
Trial Balances (unadjusted, adjusted and post-closing)
Worksheet
Income Statement (Statement of Profit or Loss)
Prepare the changes in owner’s equity statement



Balance Sheet (Statement of Financial Position)
Prepare necessary closing entries
Prepare a post-closing trial balance
(Note: Student must complete these requirements using the provided EXCEL templates)
Feedback
Marks and feedback with comments will be provided to students. A rubric will be provided on
Moodle with the assignment submission tool providing marking criteria. This will be used to mark
and provide feedback to students.
Subject Code Assessment # Marking Rubric Assessment Title and Weighting
Marking
F (Fail)
P (Pass)
C (Credit)
D (Distinction)
Criteria
0-49%
50-64%
65-74%
75-84%
HD (High
Distinction)
85-100%
Understood general
journal entries to be
recorded but completed
less than half of the
entries
Understood the general
journal entries to be
recorded but completed
more than half of the
entries
Understood the
required general
journal entries to
be recorded but
completed more
than two-third of
the entries
Understood how to
record entries &
completed less than half
of the entries
Understood how to record
entries but completed
more than half of the
entries
Understood how to
record entries but
completed more
than two-third of
the entries
Excellent Understood how to
record entries and
completed all general
journal entries
Posted in general ledger
recorded but completed
more than half of the
entries
Posted in general
ledger recorded but
completed more
than two-third of
the entries
Excellent - posted all
entries in the general
ledger and completed
including new
accounts (if
required)
Criterion
Inaccurate or
Inappropriate (did not
follow special journal, i.e.,
40% Weighting duplicate entries)
Completion of General
Journal
Excellent Understood the
required general
journal entries to be
recorded and
completed all general
journal entries
Criterion
Preparation of Accounts
receivables and
Payables schedules
Inaccurate or
Inappropriate (did not
follow procedures)
20% Weighting
Criterion
Completion of general
ledger and trial balances
(unadjusted, adjusted)
and post-closing
20% Weighting
Inaccurate or
Inappropriate (did not
post mostly blank)
Posted in general ledger
recorded but completed
less than half of the
entries
Criterion Completion of
Income Statements and
financial position
20% Weighting
Inaccurate or
Inappropriate (not
extracted and matching
with the general ledger
balances)
Extracted and matching
with the general ledger
balances but did not
follow retailer’s
functional approach
Extracted and matching
with the general ledger
balances but followed
retailer’s functional
approach
Extracted and
matching with the
general ledger
balances but
followed retailer’s
functional approach
and consistent
Excellent - Extracted
and matching with
the general ledger
balances but followed
retailer’s functional
approach and
consistent and
balance sheet agreed
both sides.