FORM : 104/01-F05/INT/LTN

REV : 2

KOLEJ UNIVERSITI LINTON

ASSIGNMENT BRIEF (BBA)
Programme
Name

BACHELOR OF ARTS (HONS) IN BUSINESS ADMINISTRATION (BBA)

Module Name

BUSINESS
ACCOUNTING

Module Code

AFA 3383

Session/Semester

SEMESTER 1:2016/JAN

RASHEEDUL HAQUE

Assessment
Type / Reference
No.

ASSIGNMENT - 2
AFA 3383 A 2

ANG PENG SENG

Lead Officer
(Assessment
Committee)

LEE HAR SAN

Module Leader
Name
Internal Verifier
Name

Student
Identification
IC/Passport No.

Student Name

Students
declaration

I hereby certify that this assignment is my own work and where materials have
been used from other resources, they have been properly acknowledged. I also
understand I will face the possibility of failing the module if the content of this
assignment are plagiarized.
Signed: ________________________

Date: _________________

Financial Statements of a Sole Trader

Outcome(s) /

Preparation of income statement

Assessment

Preparation of balance sheet statement

Criteria covered

Explanation on the balance day adjustments on prepayments and accruals

Explanation on provision for depreciation on non-current assets

Explanation on provision for bad and doubtful debts

Release Date
Date Received

21 MARCH
2016

Submission
Due Date

18 APRIL
2016

Marks obtained

Students work
assessed by /

Page 1 of 10

FORM : 104/01-F05/INT/LTN
REV : 2

date
Module Leaders Feedback.
Module
Leaders
comments /
feedback.
Please tick
() if the
student has
fulfilled the
assessment
criteria
otherwise
mark cross (x)

Students
comments

Page 2 of 10

FORM : 104/01-F05/INT/LTN
REV : 2

Coursework Policies
1. All coursework submitted must include
a.
b.

a copy of the full brief given by the Module Leader (with the signed coversheet)
all source material must be cited in the text and a full bibliography of source
material
(including author, title, publisher and date) listed at the end of the submission
c.
a copy of the Originality Report from Turnitin.
2. All work must be submitted in the mode instructed by the Module Leader.
3. Work submitted under the students name must only be the work of that student. All
information sources must be acknowledged. Plagiarism is a serious offence and will
render offenders liable to disciplinary action as set out in the rules and regulation of the
institution.
4. All assignments will need to be submitted to Turnitin as it is a tool to check your work
for potential plagiarism or collusion offences.
5. Students MUST keep a copy of all submitted work for reference purposes prior to the
original being handed in and returned. This will provide proof that the work was
completed, in the event that the work goes astray.
6. Whenever a candidate submits work after approved deadline without an authorised
extension, a mark of zero (0%) will be awarded. Module Leader may comment on the
quality of the work for learning purposes.
7. Requests for extensions of submission deadlines must be made in writing prior to the
submission deadline to the Module Leader and must be supported by documentary
evidence.

Page 3 of 10

FORM : 104/01-F05/INT/LTN
REV : 2

Grading Criteria Used To Assess Work

Grade

Range of
marks

80 100

A-

75 79

B+

70 74

65 69

B-

60 64

C+

55 59

50 54

C-

45 49

D+

40 44

Grading Descriptors

Exceptional high quality work

Excellent command in the subject matter
Showing excellent knowledge
Tightly argued work
Well formulated arguments based on the strong and authentic
evidences such as diagrams, tables, charts etc..
High level of innovativeness and creativity
Originality of work and excellent critical thinking
Excellent communication and presentation skills

Medium to high quality work

A very good command in the subject matter
Showing a very good knowledge
Well argued work
A very well presented evidences such as diagrams, tables,
charts etc..
Evidence of innovativeness
Little originality of work and good critical thinking
Good communication and presentation skills
Work of acceptable quality
Knows the subject at acceptable level
Showing a basic knowledge and understanding
Acceptable form of presented evidences such as diagrams,
tables, charts etc..
Very little originality of work
Adequate communication and presentation skills

Work of unacceptable level

Lack of knowledge in the subject
Lack of necessary knowledge and understanding

Page 4 of 10

FORM : 104/01-F05/INT/LTN
REV : 2

30 39

0 29

Disorganised presentation of evidences such as diagrams,

tables, charts etc..
No originality of work and critical thinking
Poor communication and presentation skills

ASSESSMENT CRITERIA AND GRADING SHEET

No.

(a)

(b)

Breakdown of assessment criteria

Weight
(%)

(c)

(d)

(e)

Range of achievement
()

Marks
Awarded
(%)

Weighted
Marks
(b) x (d)

(Application of appropriate
technique)

Journal entries on balanceday adjustments

Preparation of Income
Statement

Preparation of Balance Sheet

(Logical sequence and Development)
An introduction (relevant and
coherent)
Logical sections and sub-sections

20
30
20
70

5
5
10

(Evaluation of Issues)
A comment on the issues raised
A recommendation.

8
2
10

(Use of Referencing System and

Bibliography)
Within the report and in a reference
list at the end of the report.
(Overall Presentation)
Title page, contents page, sections
and appendices numbered
appropriately-(In a relevant,
systematic and coherent manner)
TOTAL

100%

Page 5 of 10

FORM : 104/01-F05/INT/LTN
REV : 2

Key to marking ranges:

A
75 100
B
60 74
C
50 59
D
30 49
F
0 29

ASSIGNMENT BRIEF
1.

Assignment Title : The Financial Reports

2.

Learning Outcome(s) covered : LOC 3

. Explanation on balance-day adjustments on prepayments and accruals
Explanation on provisions for (a) depreciation and (b) bad and doubtful debts
Prepare financial reports for sole traders

3.

Programme Learning Outcome(s) and Programme Objective(s) covered :

Able to effectively solve problem and make decision using appropriate quantitative and
qualitative skills including identifying, formulating and solving business problem. (PO2)

Able to conduct research into business and management issues, manage projects, sources
and effective self management in terms of time, planning and behaviour effectively,
motivation, self-starting, individual initiative and enterprise. (PO4)

Providing a general qualification which allows flexibility of study to meet local or

specialist needs so that the students can be easily employed by industries and other
relevant sector. Therefore the learners will be exposed on assignment, practical and
research. (O2)

4.

Assessment criteria covered :

a) Balance-day adjustments on prepayments and accruals
Page 6 of 10

FORM : 104/01-F05/INT/LTN
REV : 2

b) Provision for depreciation and disposal of non-current assets

c) Provision for bad and doubtful debts
d) Preparation of Income Statement
e) Preparation of Balance Sheet
f) Stock valuation
5.

Relationship to other modules :

It provides business students an understanding of the importance of accounting process
in the preparation of financial statements by sole traders and other business organizations.
This will enable the students to understand the contents of the statements and to assess
the performance of the respective business organization for a particular period.

6.

Scenario/Introduction/Background Information :
Assuming that you continue to work as accountant executive in United Enterprise. At the end of
financial year ended 31 December 2015, a trial balance is prepared as attached (Appendix 1).
However, you notice that the following matters need to be considered before appropriate
financial statements can be prepared. These matters include balance-day adjustments, provision
for depreciation and provision for bad debts. Your employer, Mr. John Zheng is also interested in
these matters. He raised a few issues during a meeting between you and him which requires your
attention.
Four fundamental issues were raised during the meeting:
1) How should we deal with revenues or expenses which are outstanding at the end of the
financial year?
2) What is depreciation and what is the purpose of making provision for depreciation?
3) How we deal with customers debts which are overdue for a long period of time and what
is the provision for bad and doubtful debts?
4) How is stock valued? What is the importance of stock valuation?

Page 7 of 10

FORM : 104/01-F05/INT/LTN
REV : 2

7. BASED ON THE SCENARIO, YOU ARE REQUIRED:

You are required to write an individual report to advise John accordingly. Consider carefully the
above information and write a report of not more than 1000 words which addresses the
following:
1. An introduction specifying the purpose of your report. (5 marks)
2. Comment on the issues raised by John and recommendations. (10 marks)
3. With reference to the information provided as per Appendix 1, prepare the Income Statement
for the year ended 31 December 2015 and Balance Sheet as at that date. Your solution will
form an appendix to the main report. (70 marks)
4. References both in text and in a reference list. (5 marks)
5. The report format as described below. (5 marks)
6. Sections should have numbers and appropriate headings. (5 marks)
Format of report
Detailed calculations should go into Appendices, but a summary of the results should go into the
report itself, for convenient reference by the reader. The report should be structured as follows:

a title page

a contents page showing all numbered sections or subsections and their page numbers

an appropriate introduction

sections which have a heading and a number

section headings (and if appropriate, sub-sections) should describe their contents

sections should be in a logical order

page numbers

appendices (numbered or lettered) containing the detailed calculations

an appropriate recommendation

Information Sources :
Reference Books:
a) Wood. F and Sangster, Business Accounting 1 (latest edition), Pearson Higher
b)
c)
d)
e)
f)

Education
Thomas, A, Introduction to Financial Accounting, (latest edition) McGraw Hill .
Elliot and Elliot, Financial Accounting and Reporting, (Latest edition), McGraw Hill.
Horngren, Harrison & Bamber, 2003, Accounting, 6th edn, Prentice Hall.
Dyson J.R, 2000, Accounting for Non-Accounting Student, FT Prentice Hall.
Tan Liong Tong, Financial Accounting & Reporting in Malaysia, Students Edition,
Page 8 of 10

FORM : 104/01-F05/INT/LTN
REV : 2

g) Thomson Information(S. E. Asia)

Electronic/Internet Sources:
www.biz.ed.ac.uk.

www.bursamalaysia.com.my

www.proquest.com.

www.investpedia.com

Grading Matrix

Assessment
Methods

1.

Assignment 1

2.

Assignment 2

3.

Examination 1

ObjectiveProgramme

Programme
Outcome

No.

LOC 3

LOC 1

Learning
Outcomes

LOC 2

Outcome Assessment Mapping

PO1

PO2

PO1
PO1

PO2
PO2

APPENDIX 1
(A) Latest report of the business
1. Trial Balance As At 31 December 2015
Items
Capital
Motor Vehicle
Furniture
Office Equipment
Trade Debtors
Cash in hand
Bank
Trade Creditors
Sales
Returns Inwards
Purchases
Returns Outwards
Discount Received

Debit
(RM)
92,000
26,000
20,000
61,800
6,510
91,400
3,550
118,000
-

Credit
(RM)
150,000
39,800
303,600
1,990
5,110
Page 9 of 10

FORM : 104/01-F05/INT/LTN
REV : 2

Discount Allowed
Salary
Rent
Maintenance
Rates
Telephone
Stationery, Printing & Postage
Transport
Drawings
Total

2,150
44,000
11,000
3,300
4,230
6,260
1,100
8,820
380
500,500

500,500

(B) Issues which need to be dealt with before preparation of financial statements:
1. A customer has acknowledged receipt of a batch of goods on 12 December 2015 and
the sales price is RM1,050. However, he has not paid for it until 31 December 2015.
2. The following bills are outstanding:
Stationery and printing expenses
RM200
Telephone
RM240
3. Rent paid in advance RM1,000
4. The firms motor vehicle and office equipments have been used for a number of years
and you decided to make provision for depreciation as follows:
(a) The motor vehicle is to be depreciated at the rate of 20% per annum;
(b) Office equipments RM20,000 are recorded at costs. Included in the office
equipments is an old computer bought at a cost of RM5,000 and with an
accumulated depreciation of Rm4,500, The computer was sold for RM300 at 31
December 2015. It was decided to continue to depreciate the remaining
equipments at a rate of 10% per annum.
5. There are quite a lot of outstanding debtors. Debts which are definitely cannot be
recovered are RM1,800. The owner thought it would be better if these debts are
written off as bad debts. For the remaining debts of RM60,000, it is decided to
provide 5% of debtors as provision for doubtful debts.
6. Closing stock is valued at RM10,580.
BASED ON THE SCENARIO, YOU ARE REQUIRED
1. to prepare
(a) Income Statement for the year ended 31 December 2015 and
(b) The Balance Sheet as at that date.
[Note: you must take into account the four issues raised above]
2. to give advice and suggestion to Mr. John Zheng the appropriate ways to tackle
the four issues raised by him.

Page 10 of 10