Part A:
A Brief that should make use of headings, sub-sections and columns and appropriate business- related images and illustrations. This format offers the opportunity to present academic and theoretical information in a practical, contextualized and creatively written way. The recommended word limit for the Brief is 1,000–1,500 words, although you will not be penalized for going under or exceeding the total word limit. All work must be supported with research and referenced correctly using the Harvard referencing system. You will need to provide a bibliography using the Harvard referencing system. Inaccurate use of referencing may lead to issues of plagiarism if not applied correctly.
Part B:
You will also submit a Project Portfolio that should include financial statements and budget on Excel spreadsheets, evaluation report and an advisory report (raw data will be supplied by your line manager, see appendix). You will insert your spreadsheet into the portfolio. The recommended word limit for the portfolio is 2,500–3000 words, although you will not be penalized for going under or exceeding the total word limit. Referencing for both submissions should use the Harvard system.
LO1 Examine the context and purpose of accounting.
LO2 Prepare basic financial statements for unincorporated and small business organizations in accordance with accounting principles, conventions and standards.
LO3 Interpret financial statements.
LO4 Prepare budgets for planning, control and decision making using spreadsheets.
- Reasoning and analytical skills
- Written communication using a range of sources
- Manipulation and interpretation of data using spreadsheets
- Effective communication of relevant information across the organisation and to appropriate stakeholders
- Creation and interpretation of information, showing how that information can be used most effectively to add value to an organisation.
- Managing financial data
- Written communication using a range of media
- Manipulating and interpreting data using spreadsheets
- Effective communication of relevant information across the organisation and to appropriate stakeholders
- Creation and interpretation of information and showing how that information can be used most effectively to add value to the organisation
- Ability to use quantitative skills to manipulate data, evaluate, estimate and model business problems
- Application of accounting knowledge to consistently deliver high-quality, accurate data and information in a timely fashion.
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Vocational scenario
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You work as a Senior Accountant with Al Falah Auditors & Chartered Accountants, a rapidly expanding accounting and auditing firm in Qatar. Renowned for their expertise, Al Falah Auditors ensures the accuracy and dependability of financial information, which is vital for the efficient operations of their clients` businesses. The firm serves a diverse portfolio of local and international clients, offering services such as bookkeeping, financial statement preparation, budgeting, and financial consultancy. Your line manager has assigned you with two tasks. Task 1 requires preparing a Brief and Task 2 is a big project assigned to you with a number of client services required to meet, such as preparing financial statements, budgets and appraising the financial health of the organization by calculating and comparing ratios. You must also draft an Advisory Report to make justified recommendations.
Task 1 – Brief:
You have been asked to prepare a Brief as a part of orientation for junior accountants recently hired at Al Falah Auditors & Chartered Accountants. This Brief will highlight the role of the accounting department within the organization and help the junior accountants understand the role & purpose of accounting from a wider context.
Task 2 – Project Portfolio:
Part A: Financial Statements for Client 1, 2 and 3:
You have also been asked by your line manager to produce basic financial statements for a set of clients. You have been provided with of trial balances for a number of clients that include a sole proprietorship, a partnership and a not for profit organization. (see appendix) From these trial balances you will prepare the Profit & Loss Account and the Balance Sheet for these clients. You will also need to make appropriate adjustments as required.
Part B: Evaluation Report for Client 4:
Your line manager has shared the financial statements (see appendix) of one of its international clients that seeks an assessment on its performance. Your line manager has asked you to present an evaluation report on the financial health of organization to the client by calculating and comparing the ratios of two consecutive financial years.
Part C: Budget and Advisory Report for Client 5:
Your line manager has also assigned you to prepare an advisory including a cash budget using spreadsheet for your one of the local clients that has faced financial challenges due to non-adaptation of budgetary controls. (see appendix)
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Task 1 Brief:
The working title you have been given for the Brief is ‘The role of accounting in an organization’. The Brief must be prepared in an engaging and practical way, covering relevant academic theory, making use of, for example, headings, images and illustrations. Your Brief should include the following aspects:
- Examine the purpose of the accounting function within an organization and assess the function from the context of regulatory & ethical constraints.
- A critical evaluation of the role and purpose of the accounting function in informing decision making to meet organizational, stakeholder and societal needs & expectations
Task 2 Project Portfolio:
The Project assigned to you must be a compilation of a Portfolio that includes the following:
Part A: Financial Statements for Client 1, 2 and 3:
Your line manager has provided you trial balances for 3 of its clients (see appendix), you must:
- Prepare basic financial statements including appropriate adjustments from the trial balances provided by your line manager (see appendix) for 3 of your clients (the Sole Proprietorship- Al Safa Trading, Partnership- Qamar & Shams Partners WLL Qatar and Not for Profit Organization- Al Amal Trust, Qatar) to meet the accounting principles, conventions and standards.
Part B: Evaluation Report for Client 4:
PVH Corp. one of the International client would like to assess its performance for the year 2025 to understand the impact pre and post the economic contractions. Your line manager has provided you with the financial statements for 2023 and 2024 (see appendix). From the financial statements you must:
- Calculate financial ratios (profitability, liquidity, efficiency and gearing ratios) for the two consecutive years and compare them .
Critically evaluate the financial statements using financial ratios to assess the
Part C: Budget and Advisory Report for Client 5:
One of your local clients Pearl Trading WLL is facing financial challenges due to non-adaptation of budgetary controls. Your line manager has asked you to include a cash budget and an advisory to the client. You must include:
- A cash budget from the given data (see appendix) using a spreadsheet
- Discuss the benefits and limitations of budgets and budgetary planning & control for your client.
- Identifying the corrective actions to ensure effective & efficient deployment of resources and how it impacts organizational decision making. Justify to your client the necessity of budgetary controls.
