Account

Business Folio

First Phase - Business Information Introduction Phase

(Team Assignment)

DUE DATE: in Week 5 (10 marks)

LOCATION: both online electronic submission through the Blackboard and hard copy submission to SIM are required

INTRODUCTION OF BUSINESS FOLIO

The Business Folio consists of two related phases. This scaffolding exercise aims to reach the learning outcome that you will be able to record financial information through both manual accounting information systems and computerised accounting information systems, and compare and consolidate your knowledge within both systems. You will be given structured instructions to set up a business, create your own Chart of Accounts, and prepare a set of transations within a general journal. This forms the Business Information Introduction Phase. Based on the feedback from your tutors from this phase and supporting materials, demonstrations, instructions on computerised accounting system, you will then process the information that you created in the Introduction phase, through a computerised accounting system.

Capability in this application is achieved through the development of generic capabilities. Therefore, the best preparation for this folio is to study the lecture materials and the readings from the text as well as consider real life examples of businesses.

Each phase of your Business Folio must be accompanied by an Assignment Cover Sheet. Each phase of Business Folio must be submitted electronically through RMIT Blackboard. Also, hard copies must be submitted to the SIM. The contents of your hard copy submission must be identical to your electronic submission. Whichever submission, hard copy or electronic copy, has the latest submission time will be considered as your submission time.

All assignments will be marked as if submitted on time then the mark awarded will be reduced by 10% for each day (or part of a day) it is late. Assignments that are late by 7 days or more will not be marked and...