ACCG926 Excel Assignments Semester 1 2012

Receiving Assignments: 1. The three assignments will be emailed to your university email. If you do not know how to use your university email account, please talk to a computer laboratory assistant or to IT Help. 2. The file for each of your assignments will contain your student ID. An example file name is ca2xxxxxxxx.xlsx where xxxxxxxx is your student ID and ca2 represents Corporate Accounting assignment number 2. You MUST use your own file for each assignment if you use someone elses file you will receive zero marks for that assignment. 3. You must NOT change the file names provided the marking program uses your student ID. You may make a working copy of the file but you may NOT copy any part or sheet to a new file. Answering the Assignments: 1. You do not have to use Excel formulas in the Corporate Accounting assignments. You must select accounts from drop-down boxes but you may type in the dollar amounts without an Excel formula. If you do know how to use Excel, you would be advised to use it correctly and save yourself calculating time. 2. You may not use any Copy/Paste operation in Excel, and this includes copying data from your own file. Each worksheet in an assignment is coded in a way that will detect any use of copy and paste. Any evidence of using Copy/Paste will result in a zero mark (at the very least). The use of Copy/Paste may also change named ranges making it impossible to mark your assignment. 3. Do NOT combine journal entries for any section. The program allows for consequential errors but it will not be able to do this if you combine journal entries. Example: The following consolidation journal entries are made for intragroup sales and unrealised profit in closing inventory;
Accounts Sales Cost of goods sold Elimination of intragroup sales and purchases (COGS) equity Cost of goods sold Inventory Elimination of unrealised profit in closing inventory. (60% x $3,000) Deferred tax asset Income tax expense Adjusting current ITE for unrealised inventory and recording DTA. Debit 12,000 Credit 12,000 1 mark 1 mark

1,800 1,800

1 mark 1 mark

540 540

1 mark 1 mark

If the first two entries are combined but the answer is still correct, this will be marked as:

Accounts Sales Cost of goods sold Inventory Elimination of intragroup sales and purchases (COGS) and adjusting for unrealised profit (60% x $3,000). Deferred tax asset Income tax expense Adjusting current ITE for unrealised inventory and recording DTA.

Debit 12,000

Credit 1 mark 10,200 2 marks 1,800 1 mark

540 540

1 mark 1 mark

If an error is made in the unrealised profit in closing inventory and the three separate entries are made, the marking will be:
Accounts Sales Cost of goods sold Elimination of intragroup sales and purchases (COGS) equity Cost of goods sold Inventory Elimination of unrealised profit in closing inventory. (40% x $3,000) Deferred tax asset Income tax expense Adjusting current ITE for unrealised inventory and recording DTA. Debit 12,000 Credit 12,000 1 mark 1 mark

1,200 1,200

0 mark 1 mark

Consequential

360 360

1 mark 1 mark

Consequential Consequential

If the first two entries are combined but an error is made in the unrealised profit, this will be marked as:
Accounts Sales Cost of goods sold Inventory Elimination of intragroup sales and purchases (COGS) and adjusting for unrealised profit (60% x $3,000). Deferred tax asset Income tax expense Adjusting current ITE for unrealised inventory and recording DTA. Debit 12,000 Credit 1 mark 10,800 0 marks 1,200 0 marks

360 360

1 mark 1 mark

Emailing Assignments for marking: 1. You must email the assignments with the Excel file as an attachment. Assignments without the correct file name (the name given to you) will NOT be marked. Many students send emails without the attachment please make sure that you check AFTER sending the email that the attachment was actually included. 2. Use your university email facilities and attach your answer file to the email. The subject of the email MUST be ACCG926 (capital letters and no spaces). 3. Send the email with attached file to fbe.submission@mq.edu.au 4. You should receive an automatic response that the email has been received . If you have sent the file correctly you will receive a response thanking you for submitting the file. If there is an error in the submission (incorrect or no file or incorrect subject) you will receive a notice that the submission was rejected. Please make sure that you check your email (including Junk folder) soon after submitting the assignment to make sure that it has been accepted. 5. IF the university email system is not working and your assignment is due, you may use the dropbox provided at the website http://ebis.net.au. Select the Education page and click on the link for the dropbox. Select ACCG926 as the destination and use the Browse button to find your answer file. Fill the form in correctly (especially your email address for getting a receipt) and click on the Upload button. The use of this dropbox is a LAST RESORT only!

Marked Assignments: Marked assignments will be emailed to you as per the schedule in your unit outline.