Buacc1507 Accounting Fundamentals This Major Assessment Task Involves The Completion 4140315


Please be aware assessment task 2 in BUACC1507 requires students to incur additional cost to purchase a third-party provided computerised accounting practice set. The cost of this practice set at the time of publication is $24.95. In addition to the accounting practice set, students will require a specific version of MYOB accounting software – MYOB AccountRight Plus Version 19. This version of the MYOB software is only available for Microsoft Windows computer systems. If you do not have access to this MYOB software, it may be accessible in your University computer labs or a time limited version can be purchased for up to an additional $20.

This major assessment task involves the completion of an accounting practice set from the provider Perdisco (www.perdisco.com.au). The task may be completedindividuallyor in agroup of a maximum of two students.

The accounting practice set is a real world simulation of a single month in the accounting cycle of a small business. In this context, the word “practice” does not mean “a casual attempt”, but rather an opportunity to demonstrate your accounting skills in your own simulated “accounting practice”. This particular practice set will give you practical experience in using contempory accounting software, by taking you through all of the steps involved in the accounting cycle for a small business.

This practice set adopts a computerised approach, which means it requires you to complete the accounting cycle using the well-known accounting software package called MYOB. To complete this practice set, you will therefore need the practice set itself from Perdisco, as well as access to the MYOB accounting software (please check which version of MYOB your practice set is written for and use the correct version – As of publishing this, the practice set requires you to useMYOB AccountRight Plus Version 19). This software is separate to the practice set itself and, if you have access to the appropriate version of MYOB by other means, you are not required to purchase it from Perdisco. Please note that MYOB has designed the required version of the software to run only on Windows operating systems. If you do not have your own access, instructions on downloading and installing MYOB are also provided at www.perdisco.com.au/myobLogin

The practice set from Perdisco provides you with a unique accounting scenario involving a series of unique transactions. It will provide you with instructions and other resources including aStudent Companion and Helpful Hintsdocument to help you complete the practice set. This document will significantly guide you through the exercise. At various stages throughout the accounting cycle, the practice set will prompt you to submit output from the MYOB software online through the Perdisco website. You will then be provided with immediate feedback on your performance based on accuracy and completeness.

By the conclusion of the practice setyou will have obtained real-world experience in using MYOB accounting software to:

• Create and setup a company in MYOB;

• Record transactions;

• Perform reconciliations;

• Prepare a number of financial reports; and

• Understand the benefits of using a computerised accounting system, which include the automatic posting of transactions.


1. Creating an account with the practice set provider Perdisco and purchasing access to the

practice set.

Before you can commence the assignment, you need to purchase it online from Perdisco where it is available within the Federation University account. Payment can be made using a credit card or PayPal. To purchase the practice set, follow the instructions provided at www.perdisco.com.au/myobLogin. Please make sure you are enrolled in the correct course (BUACC1507) and location.

To access the practice set, please:

i. Create an account atwww.perdisco.com.au/myobLoginii. Once registered, click ‘Add a product to my account’ iii. Select your course from the available options iv. Click ‘How do I pay?’ for the payment options available.

If you do not have your own access to the MYOB software on University computers or by some other means, you can purchase a version of MYOB from Perdisco at the same time as you purchase the practice set.

2. Commencing a non-assessed trial-run of the practice set (optional)

In the interests of maximising students’ opportunity to develop their understanding of the accounting cycle and learn the MYOB accounting package, there are two stages of the practice set. The first is a non-assessed trial run. The accounting scenario in the trial run will have similar elements to the assessed version. Students are encouraged to fully work through the trial run, so to develop the knowledge and skills to maximise their marks on the assessed version.

3. Commencing and completing the assessed practice set

Once you have worked through the trial-run practice set, and have developed familiarity with the MYOB software, you should immediately commence work on the assessed practice set. The practice set is a large activity, taking up to 20 study hours to complete over a number of days or weeks. Please read all of the instructions carefully and ensure you allow yourself enough time to complete this activity fully before its submission deadline. It is imperitive that you complete the practice set before the due date, as your access to the Perdisco online system will expire on the due date, and no extensions to access can be granted.


To help you along the way you will notice links to the ‘MYOB Learning Centre’. This online resource provides you with support on using MYOB and you are strongly encouraged to refer to it as you complete your practice set.

The assessed practice set contributes 20% of your overall mark in BUACC1507. The mark you receive for the practice set is based on your cumulative performance from each of the various stages throughout the practice set where you submit MYOB output to Perdisco for grading and feedback.

4. Submitting your MYOB file by the due date

Although the assessment task is completed in MYOB and online through Perdisco, and is marked automatically, you are required to submit your MYOB file (file name ends in “.myo”) to Moodle by the due date of5pm Friday of Week 11 of Semester 2. Please submit your MYOB file using the Assessment Task 2 assignment submission link on Moodle. If you are completing the assessment task in a group, only one submission is required. Please ensure the names and student IDs of both members of the group is used to name the file. The purpose of requiring students’ to submit their MYOB file is to enable the lecturer to check that the work completed is their own. The lecturer may call students in to demonstrate in MYOB that they have completed the practice set themselves. Students that fail to submit their MYOB file through Moodle will be given zero marks.

Assessment tasks submitted after the due date, without prior approval/arrangement, will be penalised at 10% of the available marks per day. Requests for extension of time must be made with the lecturer concerned and based on Special Consideration guidelines https://federation.edu.au/current-students/essential-info/administration/special- consideration

Should you need assistance, please use the available resources and support through the drop- down menus in Moodle. For assistance with submission, go to: http://federation.edu.au/staff/learning-and-teaching/clipp/elearning-hub/moodle-lms/how- to/submit-an-assignment