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What exactly do they want me to do here? i have been staring at it for hours and not understanding.

Instructions

Now that you have completed the unit of competence FNSACC416 Setup and Use a Computerised Accounting System, FNSACC311 Process financial transactions and extract interim reports and the unit FNSACC312 Administer subsidiary accounts and ledgers and attempted the Try this for yourself activities provided in each unit you will have created a comprehensive company file.

For this assessment you will again be using MYOB V19.7 Education Edition or MAC AccountEdge. You are to create and submit the following registers, schedules and reports from your company file and submit them with your assessment.

You must apply the following processes and show that you have undertaken the 3 tasks required by submitting reports that show both debits and credits.

1. Tracing and reconciling errors systematically or seek expert advice if required

2. Applying double-entry principles

3. Completing all tasks according to organisational policies and industry standards

Tasks - Registers, Schedules and Reports

1. A detailed asset register and depreciation schedule which includes:

a. Property, plant and equipment from fixed asset transactions

2. Copies of legers that you have recorded entries for balance day adjustments including:

a. Recording depreciation of non-current assets and disposal of fixed assets

b. Adjusting expense accounts and revenue accounts for prepayments and accruals

c. Recording bad and doubtful debts

d. Adjusting ledger accounts for inventories, if required, and transferring to final accounts

e. Prepare final general ledger accounts to reflect gross and net profits for reporting period

3. Financial reports as follows:

a. Revenue statement

b. Balance sheets

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