Kings Own Institute

ACC703 Accounting Information

Trimester 2, 2016

Individual Assignment (30% in total)

A major component of the ACC703 course is the MYOB assignment that is an individual assignment
Your Individual will be assessed on four aspects of the assignment:

MYOB Assignment: 18%;

MYOB Work Activity Report: 750 words plus or minus 20% (5%);
Prepare Job Claim Statement and Resume (5%); and
Individual presentation based on MYOB assignment: (2%).

Students should report the progress of their MYOB assignment to the tutor by showing the completed chapters or
parts of the MYOB assignment to the tutor in week 6.
The MYOB Assignment is due by week 10.

MYOB Assignment (18%)

1. MYOB Assignment is uses the Case and the Data of the Wendy Pabst & Brian Perrin
(2011), Accounting With MYOB 19, 1st Edition, Cengage Learning, Australia. Please
note that it is a large activity, taking up to 40 study hours to complete over many
days or weeks. Please ensure you leave yourself enough time to complete this activity
before its submission deadline:
Buy MYOB book.
Find MYOB software CD the inside of the back cover page of the book for Window Operation
System or get AccountEdge MYOB software from KOI library for Mac Operation System. You
can also download both trial versions from www.myob.com.au
Install MYOB software to your computer.
2. Read the chapter 1, create new data file in chapter 2 and follow the instructions from
Chapter 2 to Chapter 10 of the book. When you try to create company data file,
disregard the serial number request of the MYOB software. As the MYOB software is a
trial version, you do not need to enter the serial number.
3. Please follow the instructions of the book except for the followings of Page 13 of
Chapter:
Company Name: Put Your Student Full Name
ABN: Put 315 plus your student number (should be 11 digit)
Address: Your Address

4. Each chapter has Revision Exercise. Please Do not do Revision Exercise.

5. When you finish each chapter, please print the reports specified in the
book , compare the results of the your printed reports and the results of
reports of the book and sign at the bottom of each printed report as an
evidence of completing the comparison of two reports before starting the

Page6

Special care should be taken while entering the accounting year(2012), as this cannot
be changed later on. MYOB assignments especially asks for a particular conversion
month. Student should choose that conversion month(May) only.

you should
mark the different results on your printed reports, analyse
the difference and write down the possible reasons of the
next chapter. If two results of the reports are different,

difference.
6. You should also make the each chapter back-up based on version control full
back up method, using the back-up method explained during the class or
below:

We assume you completed chapter 2 and start chapter 3: click file and
exit on the MYOB command centre, then MYOB display do you wish
to back up? message. Please click No and make the file name
yourname02 such as Richard Chang 02
When you try to start chapter 3, find the Richard Chang02. myo file
and copy the file in the same directory. You can find TWO files such as
Richard Chang02. myo and Richard Chang02copy. myo
Click the Richard Chang02copy. myo, click the right button on your
mouse and rename the Richard Chang02copy. myo to Richard Chang
03.myo
Open Richard Chang 03.myo and start chapter 3 and repeat the above
procedures again when you start new chapters. At the end you should
have 9 back-up files

7. The assignment should include one title page and 9 chapter cover pages
(chapter 2 to 10) in front of the printed reports of each chapter, and be tied
tightly by binding or using plastic folders. Please do not forget to write your
student number, name and course on the title page.
8. MYOB assignment is due by Week 10. Students submit both the paper-printed version
and the USB stick to contain 9 MYOB assignment files (*.MYO)
9. When students submit the paper-printed version to the lecturer, the lecturer will ask
validation questions to the student to check whether the submitted MYOB assignment
is the student own work or not.
10.
In the past, we found that some students had copied other students
work, changed name and format, printed and submitted the printed
version , or copied word outputs, changed name and converted to PDF file.
We remind you again that If we find the students who submits other
students work with changed name and format, we will take action against
the students.

One of the most common errors is to enter the date in correctly. Though the
student does not have any intension to enter the date in correctly it can
happen. MYOB by default enters the current date. However the accounting
MYOB assignment has transaction dates which relates to 2012. So this is a
trap for the student and it is very likely that a wrong date is entered. Thus
student should double check the date before entering it in to the system.

Page6

Common Mistake

Go to the DATE SETTING on your computer to see the format of the date.
Ensure that this is in the format DATE-MONTH-YEAR. If it is not in this format,
then you should change the setting to this format, or else remember that it is
not in this format, before entering any information. A common problem for
students is assuming that the date setting on their computer will be DAY
MONTHYEAR. However, it may be set as MONTHDAY-YEAR and finding that
transactions attempting to be entered on 13/7/2009 will not be accepted, is the
first students know that their computer is set to the date setting MONTHDAYYEAR. At that stage there is no alternative but to start over again, losing all
transactions entered. To set your computer so that DATE-MONTH-YEAR date
format are used for your transactions, go to Control Panel and then to Regional
and Language Options and change to DATE-MONTH-YEAR date format
To set your computer so that dollars are used for your transactions, go to
Control Panel and then to Regional and Language Options and change to
DOLLAR (Australian)format.
Enter opening balances as positive numbers. Dont, for example, enter your
liability account balances as negative numbers. Enter negative amounts only if
accounts truly have negative balances. As a rule, these will be asset accounts
that record accumulated depreciation. For example you have to enter the
opening balance of the trial balance (page 27). The trial balance has two
columns (debit and edit) The scree of MYOB balance has one column. Please
enter -275, -4,410, -3,830, -11,940 in asset category and also enter -3,790
-21,500 in liability category. Please refer to 3rd, 4th and 5th paragraphs of
page 26 for detailed explanation.
When you creating Purchase or Sales invoices in MYOB, there is a tick box
asking you whether the invoice is Inc. or Exc. GST, also when loading in price
for products. It is another common mistake for students to forget to tick or
untick the in the tick box, based on the information of the book.

Page6

You have entered an invoice twice in MYOB and closed both of them. You need
to find out how to delete one of them, You are finding it difficult because it's
already closed. Have to delete the payment that closed the invoice first. If you
are looking at the invoice click on history then delete the line entry that has
the payment that closed the invoice. Once you delete the payment, you will be
able to delete the invoice.

MYOB Work Activity Report (5%)

You have to provide an individual work report on how you have worked to produce your MYOB assignment. Major
part of your individual report is to practice Audit Around the Computer Approach and to prepare report. Audit
Around the Computer approach is more often known as black box audit approach as shown below:

In your MYOB assignment, you enter input data in to the MYOB software based on the source documents (input) of
the book, print the outputs (the reports) generated by MYOB software and then compare the printed outputs with the
outputs of the book. If two results of the two reports are different, you should reconcile the different results

Periodic information such as starting, ending and printing dates of each chapter entries must be inserted into the
correct section in chronological order, including causes and solutions of the problems. Particularly when you finish
each chapter, please print the reports specified in the book and compare the results of the your printed reports and the
results of reports of the book . If two results of the two reports are different, you should reconcile the different results
on your printed reports and write down the possible reasons in your report.
The final report should use an appropriate business report format and should include a detailed description on (Times
new Roman 12 point):

Page6

a. progress based on time spent on each chapter;

b. any issues or problems that have occurred or been managed in each chapter, including details of
what the issues or problems (if there are difference between two results of the report produced by
you and the report of the book, analyse the difference and write down the possible
reasons of the differenc), how have been dealt with them and what have been done to fix the issue
or the problems (how to reconcile the difference).
c. your achievement in your MYOB assignment
d. what work is planned for the next 3 months in getting MYOB related accounting job.

JOB Claim Statement (5%)

The following document are required and attached :
1.
2.
3.
4.

Print job advertisement you applied for;

Job claim statement (Job Claim Statement is different from Job Application Cover Letter.)
Resume
Confirmation email for you applied for the JOB

Find the job advertisement related to MYOB from www.seek.com.au, www.careerone.com.au or

www.gumtree.com.au . The advertisement will provide an overview of the position, information on how to apply and
a closing date for applications. You may contact the employer and get the position description to contain a more in
depth description of the position and to include details of the selection criteria required to successfully undertake the
position.
After analyzing the job advertisement, prepare the job claim statements of no more than three pages outlining your
motivation and suitability for the role, addressing the selection criteria individually. Addressing the selection criteria
provides you with an opportunity to demonstrate your key strengths by providing examples from past experiences to
show how you meet the requirements of the position.
Make sure you individually address each criterion, carefully reading each one and breaking it down into parts
ensuring you address each aspect thoroughly. The most important aspect of addressing selection criteria is to provide
evidence through relevant examples. Support your claims with actual, specific examples of what you have done and
how well you did it. One way to do this is to use the STAR model:
1.

Situation: Outline a specific circumstance where you developed the particular experience or
used the required skills or qualities. Set the context of the situation.

2.

Task: What was your role? What did you have to do?

3.

Action: What did you do and how did you do it?

4.

Result: What did you achieve? What were the results of what you did?

Tips
1. use clear language with specific and relevant examples from your current or past employment
(paid or unpaid), study, extra-curricular activities or other experience.
2. quantify your experience or skills if you can, e.g. three years experience in creating monthly
budgets using Microsoft Excel.
3. if an example applies to a number of selection criteria, include it under each separate criterion.
4. remember you are limited to a maximum of 500 words for each selection criterion
Example
Here is an example to address selection criteria.
Demonstrated capacity to communicate effectively
My ability to communicate effectively with a range of people was demonstrated in my position as
receptionist with the organisation. I dealt with members of the general public, officers from the local
council and government departments, and representatives from private businesses on a daily basis.

Preparing your resume / curriculum vitae: your resume (also known as curriculum vitae or CV) is a snapshot
summarising your qualifications, experience, skills, qualities and key accomplishments / achievements. A resume
needs to be clear, concise and neatly organised with content relevant to the role you are applying for.

Page6

I communicated with these people face to face, over the phone and through use of email. As I was
the first point of contact for the organisation it was very important that I was professional, courteous
and helpful in my interactions. In recognition of my positive interpersonal skills my temporary
position was extended for nine months beyond my initial contract.

Individual Presentation (2%)

Presentation marks will be based on individual student performance at the presentation of your MYOB assignment
based on the MYOB Work Activity Report and the Job Claim Statement in weeks 11 and 12 tutorials. If any
student does not attend their presentation, the student will not get presentation marks unless a medical
certificate has been provided

Presentation Rubric (2% in total)

(minus 0.1 for each tick)

(minus 0.4 for each tick)

(minus 0.6 for each tick)
Comments (other possible
improvements)

Presenter
Name:

too fast
too slow
too small to hear
no clear voice
monotonous voice tone
not interesting and enthusiastic
excessive ums and errs
inappropriately dressed
does not stand up straight
no body language
not eye contact with audience
reads presentation

overall: ____/2%

Page6

Fluency/Style