Prepare financial statements - Australia Assignments

Student Name			Student Number
Unit Code/s & Name/s	FNSACC414 Prepare financial statements for non-reporting entities
Cluster Name If applicable	NA
Assessment Type	☐ Assignment ☐ Project ☐ Case Study ☒ Portfolio ☐ Third Party Report (Workplace) ☐ Third Party Report (Peer) ☐ Other
Assessment Name	Assessment 1		Assessment Task No.			1 of 2
Assessment Due Date			Date Submitted			/ /
Assessor Feedback:
Attempt 1	Satisfactory ☐	Unsatisfactory ☐			Date		/ /
Assessor Name			Assessor Signature
☐ Student provided with feedback and reassessment arrangements (check box when completed)				Date scheduled for reassessment			/ /
Attempt 2	Satisfactory ☐	Unsatisfactory ☐			Date		/ /
Assessor Name			Assessor Signature
Note to Assessor: Please record below any reasonable adjustment that has occurred during this assessment e.g. written assessment given orally.

Part A
Assessment Criteria / Benchmarks The evidence submitted demonstrates that the student has satisfactorily:	Attempt 1		Attempt 2
	Date __/__/__		Date __/__/__
	Y	N	Y	N
Recorded accounts in the correct account class	☐	☐	☐	☐
Listed, and explained advantages / disadvantages of 3 financial statements	☐	☐	☐	☐
Explained purpose of financial statements for Managers / Business owners Suppliers Investors Government Regulators	☐	☐	☐	☐
Named the governing body that issues Accounting Standards	☐	☐	☐	☐
Defined a reporting entity and non reporting entity; explained the reporting requirements of each	☐	☐	☐	☐
Identified 2 key pieces of legislation affecting taxable transactions and summarised the key features of each	☐	☐	☐	☐
Part B
Identified the formula to be used for each calculation	☐	☐	☐	☐
Calculated the ratios for 2019 and 2020, to 2 decimal places. Workings should be included	☐	☐	☐	☐
Comment on / analyse each ratio	☐	☐	☐	☐
Identify the small business benchmark and compare to Delizio Delicatessen Gross profit ratio Net profit ratio	☐	☐	☐	☐
Explain the advantages and disadvantages of using ratios and comparison techniques	☐	☐	☐	☐
Part C
Reconstruct Accounts Receivable and Accounts Payable General Ledger account.	☐	☐	☐	☐
Prepared a cash flow statement consistent with AASB107	☐	☐	☐	☐
Prepared a reconciliation of Net Profit with Net Cash Flow from Operating Activities	☐	☐	☐	☐
Use appropriate functions in Microsoft Excel. For example: cell referencing and totalling.	☐	☐	☐	☐