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Faculty of Business and Management

BA106/BBA1013 Introductory Accounting

BA100/ BBA1093 Business Accounting

To complete this assignment, create ONE (1) service or trading business:

1. Describe the business’s background, organizational structure (organizational chart) and the nature of the business.

2. In relates to your service or trading business, answer the following questions:

a. Who will be the stakeholders of your company?

b. How your company establish a good relationship with customers?

c. How your company establish a good relationship with employees?

d. How your company solve the conflict between desire to be as profitable company and society needs?

3. Create FIFTY (50) transactions occurred at the first quarter of your business’s operation. Create the source of documents (e.g: cheque butt, receipt, invoice, etc)

*THE TRANSACTIONS MUST BE IN BOTH CASH AND CREDIT TRANSACTION*

4. Prepare the journal entries for each transaction

5. Post to the Ledger (T-account) and bring the carried-down balances to the Trial Balance.

6. Prepare the Financial Statements (Income Statement and Financial Position) for the year ended.

7. Summarize your financial report and suggest 5 (five) strategies for improvement. (must relates with your account)

8. Answer the questions

(a) Accounting profession does not commit fraud but accountants do. Discuss.

(b) Explain how basic accounting concepts and principles relates in accounting. Explain any 5 (five) with appropriate example.