Accounting Assignment Assessment task€¦ · Accounting Assignment Assessment task This is the assessment task for the assignment Component of National 5 Accounting Course assessment

Accounting

Assignment

Assessment task

This is the assessment task for the assignment Component of National 5 Accounting Course assessment. It must be read in conjunction with the general assessment information for this Component of Course assessment.

This edition: January 2015 (version 1.0)

The information in this publication may be reproduced to support SQA

qualifications. This publication must not be reproduced for commercial or trade

purposes. This material is for use by assessors.

© Scottish Qualifications Authority 2015

Valid for session 2014/15 only

National 5 Accounting component: assessment task

Introduction This is the assessment task for National 5 Accounting assignment.

This assignment is worth 50 marks out of the total of 150 marks for the Course

assessment. The Course will be graded A–D.

Marks for all Course Components are added up to give a total Course

assessment mark which is then used as the basis for grading decisions.

This is one of two Components of Course assessment. The other Component is a

question paper.

This document gives instructions for candidates.

It must be read in conjunction with the general assessment information for this

Component of Course assessment.

The assessment instructions for candidates are provided and should be

detached and given to the candidate.

The assessment task will be set and externally marked by SQA and conducted in

centres under the conditions specified by SQA.

Equality and inclusion This Course assessment has been designed to ensure that there are no

unnecessary barriers to assessment. Assessments have been designed to

promote equal opportunities while maintaining the integrity of the

qualification.

For guidance on assessment arrangements for disabled candidates and/or those

with additional support needs, please follow the link to the assessment

arrangements web page: www.sqa.org.uk/sqa/14977.html

Guidance on inclusive approaches to delivery and assessment in this Course is

provided in the Course Support Notes.

http://www.sqa.org.uk/sqa/14977.html

National 5 Accounting component: assessment task 1

Accounting

Assignment

This edition: January 2015 (version 1.0)

The information in this publication may be reproduced to support SQA

qualifications. This publication must not be reproduced for commercial or trade

purposes. This material is for use by assessors.


Glen Spring


Instructions for candidates This assessment applies to the assignment for National 5 Accounting.

This assignment is worth 50 marks out of the total of 150 marks for the Course

assessment. The Course will be graded A–D.

It assesses the following skills, knowledge and understanding:

making appropriate use of spreadsheets to complete the assignment

entering data with accuracy

selecting and using appropriate formulae, formatting and printing functions to present information

accurately completing all accounting work related to the context of the assignment

Your assessor will let you know how the assessment will be carried out and any

required conditions for doing it.


You are an experienced Accounts Assistant working for Glen Spring, a

manufacturer of flavoured mineral water made in a variety of different flavours

and sourced from Highland Glens.

You have been assigned a number of Financial and Management Accounting

tasks by your line manager, Dawn MacAllister. Complete each task in the order

shown using the spreadsheet file Glen.

Apply VAT at 20% where appropriate.

Ensure your name appears on all printouts.

Assignment task


Task Printouts Marks

Available

Completed ()

1 Ledgers Value view 18

2 Management Decision Making: Limiting Factors Value view

Formula view

10

3

3 Cash Budget Value view

Formula view

14

5

Total marks 50

National 5 Accounting 2015: Glen Spring


Task 1

Use the documents/information on pages 5-7 to update the selected ledger accounts of

Glen Spring contained in the worksheet named Ledger.

Print one copy of the completed ledger in value view.




Does this

Task 2

We currently sell only 2 different packs of our flavoured mineral water to wholesalers

and retailers across the country. Over the next few months it is anticipated that we

will be able to produce a higher volume of each pack due to an increase in available

labour hours. I’d like to calculate the maximum profit that could be earned from the

increase in labour hours.

Using the worksheet named Profit, I need you to calculate the following for the month

of May:

□ Available labour hours □ Maximum sales demand for each pack □ Contribution per unit for each pack □ Contribution per labour hour for each pack □ Labour hours required to meet maximum sales demand for each pack □ Labour hours to be used to maximise profits for each pack □ The number of units of each pack that can be produced from the available labour

hours □ The contribution earned from each pack and in total □ The maximum profit

Use appropriate spreadsheet formulae and the notes below to calculate the required

figures.

Print one copy of this completed worksheet in value view and formula view.


1. Predicted bank balance on 1st May - £3,000.

2. All units produced in April to June are expected to be sold.

(i) 50% of all units will be sold on a cash basis with the remainder sold on one month’s credit.

(ii) Credit customers will receive a discount of 10% on the normal selling price.

3. Materials will be purchased in the same month as production and paid for one month later.

4. Labour and Variable Overheads will be paid for in the same month as production.

5. Fixed costs are expected to be 10% lower than the figure originally estimated for the month of May. Calculate the new fixed costs for May and June by linking to the appropriate figure in the worksheet Profit.

6. A new packaging machine costing £5,000 will be purchased in May. A 20% deposit will be paid in May, with the remainder paid in 2 equal instalments in June and July.

7. The old packaging machine will be sold in June – we expect to receive the full Net Book Value.

[END OF ASSIGNMENT]

Task 3

Following review of additional market research data received from our Marketing

department, we have decided to make vast changes to the products we sell. As of April

2015, we will only sell one pack of our products to wholesalers and retailers – Pack C.

I’d like you to prepare a cash budget to forecast the cash requirements of the business

for the months May and June.

Use the notes below to complete the Cash Budget using the worksheet named Budget.

Use appropriate spreadsheet formulae to calculate the required figures.

Print one copy of the completed Cash Budget in value view and formula view.


Copyright acknowledgements

Assignment task introduction – Fruit smoothie - Artyzan / Shutterstock.com

(& Task 1 – Copy credit note)

Task 1 – Mixed fruit on Receipt - Elena Schweitzer / Shutterstock.com

Task 1 – Electronic media on Invoice - Angela Waye / Shutterstock.com


Administrative information

Published: January 2015 (version 1.0)

History of changes Version Description of change Authorised

by Date

Copyright This document may be reproduced in whole or in part for assessment purposes

provided that no profit is derived from reproduction and that, if reproduced in

part, the source is acknowledged. If it needs to be reproduced for any purpose

other than assessment, it is the centre’s responsibility to obtain copyright

clearance.

Re-use for alternative purposes without the necessary copyright clearance may

constitute copyright infringement.



Instructions for teachers Teachers are reminded that information providing instructions for the conduct of coursework, an overview of the assessment task, evidence to be gathered and general marking instructions can be found on the SQA website’s page for National 5 Accounting, in the Assessment Support section under Coursework Information. Teachers are asked to ensure that all tasks submitted show the candidate’s name, centre and task number clearly displayed on each printout. Row and column headings and gridlines should be shown on each printout. Each task should have 2 printouts submitted: a Value view printout and a Formula view printout. If formulae are not visible in full in a Formula view printout, this may result in the candidate losing marks.

All tasks should be completed through the use of formulae (where appropriate)

and teachers should ensure that candidates are familiar with the spreadsheet

requirements outlined in the Course Assessment Specification.

Documents

Accounting Assignment Assessment task€¦ · Accounting Assignment Assessment task This is the assessment task for the assignment Component of National 5 Accounting Course assessment