ACC 201 Financial Accounting 1 Assignment Papers.

ACC 201 Financial Accounting 1 Assignment Papers.

Weighting: 20% of the overall assessment
Due Date: The ‘Practice set (trial)’ link will open at 9:00 AM on 2 April 2018
and close at 3:55 PM on 11 June 2018 (Melbourne/Sydney
time). You can work through the trial version of the practice set
as many times as you would like to. This trial practice is NONASSESSABLE.
The ‘Practice set (assessment)’ link will open at 9:00 AM on 2
April 2018 and close at 3:55 PM on 11 June 2018
(Melbourne/Sydney time). You have two attempts at the
assessment version. This practice set is ASSESSABLE. If
you choose to attempt this practice for the second time, we will
record the higher of the two scores as your final score. You can
only start the second attempt after you have finished your first
attempt. ACC 201 Financial Accounting 1 Assignment Papers.


Assessment information
This assessment is a real-world simulation of a single month in the accounting cycle of a
small business that requires students to use the actual MYOB accounting software.
Students first learn about the key software features used in the practice set by working
through Perdisco’s MYOB Learning Centre, and then create and set up company files,
record transactions and generate financial reports using MYOB.
You will have access to two practice sets on
1. ‘Practice set (trial)
2. ‘Practice set (assessment)
As the name suggests, the trial practice set is you for you to try out the Perdisco practice
set and understand how it works. This practice set is NON-ASSESSABLE.
The assessment practice set is what matters – we will records the marks you score in this
practice set as your final mark for this assessment. ACC 201 Financial Accounting 1 Assignment Papers.

ACC201 Assessment Information Page 2 of 5 Updated: 7 March 2018
How the VirtualTutor practice set works
This is a computerised practice set.
The VirtualTutor MYOB practice set requires you to use AccountRight to complete a onemonth
accounting cycle for one business from a range of fictional retail businesses that
supply electronic goods. The practice set is designed to be a similar experience to
completing paper-based practice set books except that this practice set and its associated
learning resources are delivered online using a web browser. In this context, the word
“practice” does not mean “a casual attempt” but rather an opportunity for you to
demonstrate your accounting skills in your own simulated “accounting practice”. ACC 201 Financial Accounting 1 Assignment Papers.
The accounting cycle implemented in your practice set is shown below. This practice set
adopts a computerised approach. This means it requires you to complete the accounting
cycle for your allotted company using AccountRight. You can learn about the key software
features used in this practice set by working through the MYOB Learning Centre which is
explained in the next section.
During the accounting cycle, you will set up company records in AccountRight, record
transactions and generate financial reports using AccountRight. To allow your progress
to be regularly monitored, you will be required to transcribe your results from
AccountRight to our practice set website and answer questions about AccountRight on
an ongoing basis. Our Regular feedback will help you identify and fix your mistakes as
early as possible to prevent those mistakes being carried forward throughout the rest of
your practice set.
By the end of this practice set, you will have obtained real-world experience in using
AccountRight and should be able to perform many activities in this software that are
commonly performed by professional accountants. You will understand the benefits of
using a computerised accounting system which includes automatic posting of
transactions and built-in internal control measures that prevent records from being
deliberately modified.


ACC 201 Financial Accounting 1 Assignment Papers.

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