| Higher Nationals Assignment Brief | |
| Qualification Title | Pearson BTec Level 5 Higher National Diploma in Business |
| Unit Number and Title | Unit 10: Recording Financial Transactions |
| Assignment Title | Financial Accounting Principles |
| Submission format | The submission is in the form of a portfolio of evidence compiled from the evidence produced for the assignments that include recording transactions, preparing and producing trial balance, bank reconciliation and control account reconciliations statement. The report must be clearly worded and well-structured and should make use of appropriate business language and terminology. The report should also include clearly labelled tables, charts and appropriately constructed statements for the business. The word count is 4000–4,500 words, although you will not be penalised for going under or exceeding the total word limit. A bibliography should be provided using the Harvard referencing system. Inaccurate use of referencing may lead to issues of plagiarism if not applied correctly. |
| LO1 | Record business transactions using double-entry bookkeeping, books of prime entry, journals and ledger accounts . |
| LO2 | Prepare a trial balance for a given organisation from the data provided. |
| LO3 | Perform bank reconciliations to ensure organisation and bank records are correct. |
| LO4 | Perform control account reconciliations for accounts receivable and accounts payable. |
| Vocationa Scenario | Paxora Ltd. is a small retail business located in Leeds, UK, with a reputation for providing excellent customer service since its establishment in 2005. The company has outlined specific objectives to guide its operations, including increasing revenue and profits, expanding business operations, improving cash flow management, reducing costs and expenses, enhancing the business's reputation and brand image, and improving transparency in record keeping. As the newly appointed bookkeeper, your primary duties will include recording business transactions, preparing trial balances, and producing bank and control account reconciliations statements. It is important to use appropriate bookkeeping terminology, label tables and charts clearly, and construct financial statements accurately. Additionally, your line manager has requested you to provide some financial insights based on recent business data, which will be presented to you in three parts. Your analysis should align with the company's objectives, providing accurate and timely information to assist the business owner in making informed decisions to achieve these goals. |
| Assignment activity and guidance | |
| i) | Submit a soft copy to Turnitin on the submission date. Use a Normal script with a proper font size of 12. |
| ii) | Attach the front sheet of this assignment brief to your work for assignment submission with signatures on the statement of authenticity. |
| iii) | Assignments submitted after the deadline will not be accepted unless Extenuating Circumstances Form is submitted with third-party evidence. |
| iv) | Collusion and Plagiarism must be avoided. (For further details, please refer to Academic Misconduct Policy and Procedure; Plagiarism Handbook, all available on Moodle) |
| v) | Start each answer on a new page and pages should be numbered. Highlight each question clearly. Include a Bibliography at the end of the assignment and use the Harvard referencing system. |
| vi) | All work should be comprehensively referenced, and all sources must be fully acknowledged, such as books and journals, websites (include the date of visit), etc. |
| vii) | In order to pass, you need to address all the LOs and meet all the PASS (Ps) criteria within the LO. |
| viii) | In order to get a merit you need to address the characteristics of Pass and then M1, M2 ,M3 and M4 |
| ix) | In order to get a distinction, you need to address the characteristics of Pass, Merit and then D1, D2, D3, and D4. |
In order to pass this unit, the evidence that the learner presents for assessment needs to demonstrate that they can meet all the learning outcomes for the unit. The assessment criteria for a pass grade describe the level of achievement required to pass this unit.
| Higher Nationals Assignment Brief | |
| Qualification Title | Pearson BTec Level 5 Higher National Diploma in Business |
| Unit Number and Title | Unit 10: Recording Financial Transactions |
| Assignment Title | Financial Accounting Principles |
| Submission format | The submission is in the form of a portfolio of evidence compiled from the evidence produced for the assignments that include recording transactions, preparing and producing trial balance, bank reconciliation and control account reconciliations statement. The report must be clearly worded and well-structured and should make use of appropriate business language and terminology. The report should also include clearly labelled tables, charts and appropriately constructed statements for the business. The word count is 4000–4,500 words, although you will not be penalised for going under or exceeding the total word limit. A bibliography should be provided using the Harvard referencing system. Inaccurate use of referencing may lead to issues of plagiarism if not applied correctly. |
| LO1 | Record business transactions using double-entry bookkeeping, books of prime entry, journals and ledger accounts . |
| LO2 | Prepare a trial balance for a given organisation from the data provided. |
| LO3 | Perform bank reconciliations to ensure organisation and bank records are correct. |
| LO4 | Perform control account reconciliations for accounts receivable and accounts payable. |
| Vocationa Scenario | Paxora Ltd. is a small retail business located in Leeds, UK, with a reputation for providing excellent customer service since its establishment in 2005. The company has outlined specific objectives to guide its operations, including increasing revenue and profits, expanding business operations, improving cash flow management, reducing costs and expenses, enhancing the business's reputation and brand image, and improving transparency in record keeping. As the newly appointed bookkeeper, your primary duties will include recording business transactions, preparing trial balances, and producing bank and control account reconciliations statements. It is important to use appropriate bookkeeping terminology, label tables and charts clearly, and construct financial statements accurately. Additionally, your line manager has requested you to provide some financial insights based on recent business data, which will be presented to you in three parts. Your analysis should align with the company's objectives, providing accurate and timely information to assist the business owner in making informed decisions to achieve these goals. |
| Assignment activity and guidance | |
| i) | Submit a soft copy to Turnitin on the submission date. Use a Normal script with a proper font size of 12. |
| ii) | Attach the front sheet of this assignment brief to your work for assignment submission with signatures on the statement of authenticity. |
| iii) | Assignments submitted after the deadline will not be accepted unless Extenuating Circumstances Form is submitted with third-party evidence. |
| iv) | Collusion and Plagiarism must be avoided. (For further details, please refer to Academic Misconduct Policy and Procedure; Plagiarism Handbook, all available on Moodle) |
| v) | Start each answer on a new page and pages should be numbered. Highlight each question clearly. Include a Bibliography at the end of the assignment and use the Harvard referencing system. |
| vi) | All work should be comprehensively referenced, and all sources must be fully acknowledged, such as books and journals, websites (include the date of visit), etc. |
| vii) | In order to pass, you need to address all the LOs and meet all the PASS (Ps) criteria within the LO. |
| viii) | In order to get a merit you need to address the characteristics of Pass and then M1, M2 ,M3 and M4 |
| ix) | In order to get a distinction, you need to address the characteristics of Pass, Merit and then D1, D2, D3, and D4. |
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