A blog that should make use of headings, sub-sections, columns, and appropriate business - related images and illustrations. This format offers the opportunity to present academic and theoretical information in a practical, contextualised and creatively written way. The recommended word limit for the case study is 1,500–2,000 words, although you will not be penalised for going under or exceeding the total word limit. All work must be supported with research and referenced correctly using the Harvard referencing system (or alternative referencing system).
You will need to provide a bibliography using the Harvard referencing system (or an alternative referencing system). Inaccurate use of referencing may lead to issues of plagiarism if not applied correctly. You will also submit a memorandum with an accompanying Excel spreadsheet (raw data will be supplied by your tutor). You will insert sections of your spreadsheet into the memorandum. The recommended word limit for the memorandum is 1,000–1,500 words, although you will not be penalised for going under or exceeding the total word limit. Referencing for both submissions should use the Harvard system (or an alternative system).
LO1 Examine the context and purpose of accounting.
LO4 Prepare budgets for planning, control and decision-making using spreadsheets
Reasoning and analytical skills • Written communication using a range of media
• 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.
Organisation Deloitte is a large British multinational accountancy and professional services company based in London. The company was founded by William Welch Deloitte in London in 1845 and expanded into the United States and elsewhere. The company provides audit, consulting, financial advisory, risk advisory, tax, and legal services with approximately 415,000 professionals globally. In 2021, the business earned revenues of US$50.2 billion in aggregate. With a large portfolio of clients and a change business environment, the company expects many challenges ahead as the local, national and international trading moves into recession, downsizing and changes mainly through technological advances, skill shortages, increasing costs and competition.
Role You have recently joined the firm as a Graduate Trainee attached to their UK SME (Small and Medium Enterprises) Unit, offering accountancy and financial services to businesses that typically have a turnover ranging from £0.5 m to £15 m. As part of your ongoing training, you have been asked to undertake some activities.
Your supervisor, one of the firm’s Key Account Managers, has asked you to prepare a blog that will be used to market and promote its accounting services to new and existing clients. The working title you have been given for the blog is ‘The role of accounting in an organisation’. The blog must be presented as an online blog in an engaging and practical way, covering relevant academic theory, making use of, for example, headings, images and illustrations. Your blog should include the following, but is not limited to:
the purpose and scope of accounting in complex operating environments
• a critical evaluation of the accounting function in informing decision making and meeting stakeholder and societal needs and expectations
• the main branches of accounting and job skillsets and competencies
• accounting systems and the role of technology in modern-day accounting
• issues of ethics, regulation and compliance and the extent to which they are constraints or threats to the organisation.
Having completed the first activity, you have now been asked to work with a hospitality and catering start-up business that your firm has just taken on as a client. The business is particularly in need of support and guidance with budgeting and how it can be used to inform efficient resource allocation and support effective control and decision making. The founder of the business is investing £100,000 of their own capital and has also secured a business loan of £50,000.
The submission is in the form of a portfolio of evidence compiled using the evidence produced for two assignments, it will also include the following. A detailed letter to a named client. The letter must be clear worded, well-structured and should make use of appropriate business language and terminology. The letter can also include clearly labelled tables and charts. It will accompany and support the appropriately constructed financial statements (income statement and statement of financial position) for the business in question. The word count is 2,000–2,500 words, although you will not be penalised for going under or exceeding the total word limit. A bibliography should be provided using the Harvard referencing system (or an alternative system). Inaccurate use of referencing may lead to issues of plagiarism if not applied correctly.
LO2 Prepare basic financial statements for unincorporated and small business organisations in accordance with accounting principles, conventions and standards.
LO3 Interpret financial statements
Having successfully completed your six-month probation at Deloitte as a Graduate Trainee, the accountancy company, you have now been attached to a unit in the firm that deals with the provision of accountancy and consultancy services to small businesses that are typically set up as sole traders, not-for-profit or partnerships. The firm is careful about which small and emerging businesses it works with as it seeks to spot growth potential and identify and work with clients that have scalable business models.
The company initially introduced you on working with a selection of small businesses that were trading for three years and which now need annual trading statements to be compiled and submitted in line with government requirements. Given this, you have now been given:
• an extended trial balance for each business, including accruals, prepayments and figures for bad debts and depreciation.
• a range of comparative key performance ratios from the previous year. Note: This data is attached in spreadsheet format. This financial data given is elastic and in context to meet local needs. The local businesses do not make use of contemporary software to support its bookkeeping and accounting function. This is something which concerns you as you feel that it represents an opportunity for the business to save time and resource. Your supervisor, one of the firm’s Key Account Managers, has asked you to compile the year-end financial statements ready for submission and provide, for each client, some detailed analysis of the figures produced, which will be presented in the form of an accompanying letter. Specifically, you will undertake the following:
1. From the data provided, you are required to prepare the year-end financial statements, taking into consideration accounting principles, conventions and standards. You will need to make and show appropriate adjustments to both the income statement and the balance sheet.
2. Write an accompanying letter to the client that will be sent with the completed financial statements.
