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Level 4 Diploma in Accounting and Business

Assignment workshop: drafting, feedback and improvement

AB403 · Principles of Financial Accounting — Week 14 of 16

CourseAB403
Week14 of 16
SemesterI
TutorOnline in the course chat

This week’s topics

Assignment workshop: drafting, feedback and improvement

  1. Drafting against the criteria
  2. Tutor and peer feedback
  3. Improving the final submission

What you will be able to do

  • 1.1 Explain the need for financial record-keeping.
  • 1.2 Explain the importance of liquidity and solvency in business.
  • 1.3 Explain the accounting equation.
  • 1.4 Explain how to record financial transactions using the double-entry method of bookkeeping.
  • 2.1 Examine the purpose and importance of end of year adjustments in the preparation of final accounts.
  • 2.2 Calculate the value of revenue and cost of sales, for given data, over the accounting period.
  • 2.3 Calculate year-end adjustments, for given data, to account for irrecoverable debts and provisions for doubtful debts.
  • 2.4 Calculate year-end adjustments, for given data, to account for accruals and prepayments when preparing the financial statements.
  • 2.5 Calculate the cost of depreciation from different methods of depreciation for given data.
  • 3.1 Explain the purpose of preparing final accounts for sole traders and partnerships.
  • 3.2 Prepare final accounts, including relevant adjustments, for a specific sole trader business.
  • 3.3 Prepare final accounts, including relevant adjustments, for a specific partnership business.
  • 3.4 Analyse the financial statements of a selected business.
  • 4.1 Explain the professional characteristics and ethical principles exhibited by an accountant.
  • 4.2 Evaluate the impact of a breach of ethics on accountants and business organisations.
  • 4.3 Explain the role of regulatory bodies for accountancy in a specific country.
  • 4.4 Identify the requirements for external audit and the basic processes undertaken.

Activity

Draft the assignment, get feedback and improve it before submission.

Study materials

Further resources

  • Writing Guide, 3.5: Peer review and using feedback · PDF · OpenStax, textbook chapter; pp. 92–94 · for registered students
  • Writing for Success, ch. 8.1–8.3: Prewriting, outlining and drafting · PDF · Saylor Academy, textbook chapter; pp. 281–318 · for registered students
Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.
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Course plan
  • Week 1: Foundations of Financial Accounting and Record-Keeping
  • Week 2: The Double-Entry Bookkeeping System
  • Week 3: Period-End Financial Concepts and Trading Performance
  • Week 4: Accounting Adjustments for Accruals, Prepayments, and Recei…
  • Week 5: Capital Expenditure and Depreciation of Non-Current Assets
  • Week 6: Financial Statements for Sole Traders
  • Week 7: Partnership Accounting and Reporting
  • Midterm: Midterm evaluation
  • Week 9: Financial Statement Analysis and Interpretation
  • Week 10: Professional Ethics and Conduct in Accountancy
  • Week 11: Accounting Regulation and External Audit Fundamentals
  • Week 12: Applying Principles of Financial Accounting in practice: ca…
  • Week 13: Assignment workshop: research, planning and referencing
  • Week 14: Assignment workshop: drafting, feedback and improvement
  • Week 15: Review and coursework completion
  • Final: Final assessment and submission
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