days: BSBFIN401 Practical Assessment - Case Study

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Case Study Overview

This case study assessment requires you to prepare a financial report on at least two occasions.

This assessment is divided into 6 Case Study tasks:

Case Study 1: Bounce Fitness Financial Reports

Task 1: Enter Conversion Information and Balances
Task 2: Prepare a Register of Assets and Depreciation Schedule
Task 3: Record Journal Entries
Task 4: Record Annual Depreciation
Task 5: Record Adjusting Entries for Prepaid Expenses and Accrued Revenue
Task 6: Prepare Profit and Loss Statement and Balance Sheet

This assessment includes detailed scenarios and simulated environments, providing all necessary information required to complete relevant tasks and activities, based on the simulated business, Bounce Fitness.

This will not require you to access a real workplace, however, some tasks to be completed are similar to those typically done in a real workplace.

IMPORTANT

Read the following before proceeding

Case study assessments that follow use Xero. Use a free or paid version of this software to complete the relevant assessments.

If you are using the free trial version, you must complete the assessments within 28 days upon creation of the simulated company file.

If you will use an accounting software other than Xero, discuss first with your assessor.

You must record transactions in Xero in the financial year corresponding with the financial year in which you are completing this assessment, unless otherwise specified.

For example, if you are completing this assessment in October 2022, then the financial year is 1 July 2022 – 30 June 2023. You must enter transactions for this financial year, unless otherwise specified.

The financial year notations used in all provided instructions and templates are:

1 July 20YY: The first day of the current financial year
30 June 20YY plus 1: The last day of the current financial year
20YY minus 1 or 20YY-1: One year before the current financial year
20YY minus 2 or 20YY-2: Two years before the current financial year
20YY plus 1 or 20YY+1: One year after the current financial year
20YY plus 2 or 20YY+2: Two years after the current financial year

Attempts allowed: 3

Grading method: Highest grade

Grade to pass: 6.00 out of 6.00