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FNSACC504 Prepare financial reports for corporate entities: Assessment Task 4

Assessment Task 4: Consolidation

Task summary 

For this assessment task, you are required to prepare a consolidation worksheet for Mullum Machinery Pty Ltd and Byron Machinery Pty Ltd Pty Ltd based on the extracts of trial balance and additional information provided to you. 

This assessment is to be completed in the simulated work environment in the RTO.

Required

  • Access to textbooks/other learning materials
  • Computer with Microsoft Office and internet access
  • Consolidation Information
  • Access to AASB101 Presentation of financial statements:
  • Timing

Your assessor will advise you of the due date of these submissions.

Submit

  • Email with Consolidation Workbook attached.

Assessment criteria

For your performance to be deemed satisfactory in this assessment task, you must satisfactorily address all of the assessment criteria. If part of this task is not satisfactorily completed, you will be asked to complete further assessment to demonstrate competence.

Assessment Task 4 Instructions 

Carefully read the following: 

You are an accountant for an accountancy company that has the following organisational procedures for preparing financial statements:

  • All financial statements are to be prepared using Microsoft Excel with a worksheet for each type of statement. 
  • Financial statements must be prepared within 3 working days of receipt of information from client. 
  • Financial statements must be prepared as General Purpose Financial Statements according to AASB 101 Presentation of financial statements.  

Complete the following activities:

  1. Prepare a consolidation worksheet

Review the AASB 101 Presentation of financial statements document.

Create an Excel Workbook that has one Worksheet titled Consolidation Worksheet.

In that Worksheet, complete a consolidation worksheet for Mullum Machinery Pty Ltd and Byron Machinery Pty Ltd using the data in Consolidation Information. 


Save this file as Consolidation Workbook.

  1. Send an email to your assessor.

The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.

It should introduce and summarise the contents of the attachment. 

Attach your Consolidation Workbook to the email.

Ensure that this email is sent within the time limit given in your accounting company’s organisational procedures.

Answer

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