Location via proxy:   [ UP ]  
[Report a bug]   [Manage cookies]                
Scribd
Upload
850 views

CXC Sba Poa

This document provides guidelines for a small business accounting project for a Principles of Accounts course. Students must complete a simulated or actual small business project between 1,000-1,200 words. Acceptable project types include a school cafeteria, club, or snack shop. The project report should include an introduction, contents page, aims, business information, accounting records and procedures, analysis of results with ratios, business performance assessment, and conclusion. An example project is provided based on a school events snack shop with opening balances and January transactions to use for setting up the relevant source documents, books of accounts, trial balance, and final accounts.

Uploaded by

Mildred C. Walters
Copyright
© © All Rights Reserved
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
850 views

CXC Sba Poa

This document provides guidelines for a small business accounting project for a Principles of Accounts course. Students must complete a simulated or actual small business project between 1,000-1,200 words. Acceptable project types include a school cafeteria, club, or snack shop. The project report should include an introduction, contents page, aims, business information, accounting records and procedures, analysis of results with ratios, business performance assessment, and conclusion. An example project is provided based on a school events snack shop with opening balances and January transactions to use for setting up the relevant source documents, books of accounts, trial balance, and final accounts.

Uploaded by

Mildred C. Walters
Copyright
© © All Rights Reserved
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
You are on page 1/ 4

Guidelines for Principles of Accounts SBA Project

1. Requirements
Each candidate must participate in a project, which involves the simulation or
actual operation of a small business entity.
2. Types of Projects
Projects should centred around entities with which the candidates are familiar, e.g.
- school cafeteria, canteen;
- school club;
- snack shop at school events;
- events coordinated by students such as concerts and fashion shows;
- sporting and culture clubs at school.
NB All activities selected must e le!al
". Scope and Si#e
The project should be between 1$$$ and 12$$ words, not including appendices!.
"herever a student e#ceeds the ma#imum length for the project by more than $%
percent, the teacher must impose a penalty of $% percent of the score that the
student achieves on the project. T%e project may e done y individual asis
or y !roup &or'. (o&ever) &%ere t%e project is done y a !roup) an
individual project must e sumitted y eac% student. No t&o reports must
e identical.

T%e project must satisfy t%e follo&in! ojectives
$. - &ooks of original entry 'ubsidiary &ooks!

(. - The ledger with respect to recording the transactions.

). - The trial balance
*. - Trading and Profit and +oss ,ccount or the -ncome and E#penditure
,ccount
.. - &alance 'heet

$
Project Reports
Each candidate/s project report should be presented in an ordinary and
ine#pensive soft folder.

T%e front pa!e must %ave t%e follo&in!
The candidate/s name
0egistration number
1ame of subject
'chool
2entre number
1ame of Teacher
3ear of E#amination
4ate submitted
Each folder should comprise in this particular order
a! The project, comprising
$. *ntroduction
(. Tale of contents
). Aims of t%e project Name at least TWO)
*. *nformation on entity
- Name of entity (actual or simulated), the business type and
description of activity
- The place where business activity takes place
.. Relevant information and Records
- Operational procedures with aid of accounting diagrams
- Transactions for the month
- Source documents
Purchase invoice or Sales invoice
ebit note or credit note
!he"ue
#eceipts
5. Actual accountin! procedures
(
$oo%(s) of original entry& the ledger accounts& the trial
balance&
Trading and Profit and 'oss (ccount and the $alance Sheet
6. *nterpretation of results
Simple ratios, comparisons of one period to another, etc.
)se at least T*O)
7. Performance of t%e usiness Two statements!
8. Su!!estions+Recommendations 9ive at least T,-!
$%. .onclusion
The following is a simulated business based on the 'chool Events 'nack
'hop.
The following are the opening balances in the books.

E:uipment ;5%%%, 'tock ;$)%%, 2ash ;(%%%, 2ash at &ank ;$(*%%
4ebtors< 9. 4avis ;8%
2reditors< 'hoppers ;$)(%
/urin! t%e mont% of 0anuary 2$12
=an ( Paid rental of stall by 2he:ue ;$(%%.
&ought goods from 'hoppers ;5()% on credit and paid ;).* to transport them.
"ithdrew 2ash from bank for business use ;(%%%.
Paid for purchases in cash ;(*%%.
5 &ought E:uipment from 0oy/s >ardware on credit for ;$**%.
$$ &ought goods on credit from 'hoppers ;(*$%
Total cash sales ;*..%.
2redit sales to 9. 4avis ;$%%
9. 4avis returned ;$% worth of sales.
&anked cash ;*%%%
$. Paid insurance by che:ue ;8%%.
$8 2ash 'ales ;.65%.
0eturned goods to 'hoppers ;8.%.
Paid 'hoppers ;5%%% by che:ue, after a discount of $%? was deducted on the amount
owing.
(5 2ash sales ;.8(%
0eceived ;$6. by che:ue from 9. 4avis. >e was allowed a cash discount of ;..
The owner took ;)%%% cash for personal use.
&anked 2ash ;..%%.
(7 Paid wages in 2ash ;$%*%.

The notes at the end of the month were
$. "ages owing ;(.%.
(. 0ental of stall paid in advance ;(%%.
). 4epreciate the fi#ed assets at a rate of $%? per annum.
*. 2losing stock ;$.)%.
)
Prepare
$ The relevant source documents.
( The Purchases 4ay &ook, The 'ales 4ay &ook,
The 0eturns -nwards &ook , The 0eturns @utwards &ook and The 2ash &ook.

) The Purchases +edger, The 'ales +edger and The 9eneral +edger.
* The Trial &alance.
. The final ,ccounts for the month.
5 0atios and 2omparisons.
*

You might also like