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ACCM4000 Understanding Financial Accounting: Xpress Cuts Hair Saloon Case Study Assignment 3 Answer

Assessment 3 Information

Subject Code:
Subject Name:
Financial Accounting
Assessment Title:
Xero Assignment
Assessment Type:
Total Marks:
30 marks

Your Task

  • Attend the Xero workshop conducted in class in Week 6.
  • Register for Xero when you get the invite (an announcement will be posted after the invites are sent out)
  • Attend weekly webinars conducted on Zoom in Weeks 6, 7, 8 and 9. These webinars will provide you with the support you need to complete the case study. An announcement will be postedon MyKBS with details of this webinar and how to join.
  • Watch the instructional videos available under the assessment tab on MyKBS

Assessment Description

Please refer to the Xpress Cuts – Hair Saloon Case Study available on MyKBS under the assessment tab

Learning Objectives:

After completing this Individual Assignment, you will be able to:

  1. Demonstrate an understanding of accounting processes
  2. Prepare a range of financial statements
  3. Prepare common-size financial statements
  4. Conduct ratio analysis and assess an entity’s profitability, liquidity and financial stability

Assessment Instructions

You are required to submit the following reports(as PDF) on MyKBS:

  1. Accounts Transactions Report for the month of October2020 (4 Marks)
  2. Profit and Loss Statement for the month ended 31 October 2020 (10 Marks)
  3. Balance Sheet as at 31 October 2020 (6 Marks)
  4. Prepare a common size profit and loss statement and a common size Balance sheet (6 Marks)
  5. Write a brief report on the company’s profitability and liquidity status(250 words) (4 Marks)

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