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    ACC101 INDIVIDUAL ASSIGNMENT

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    General Rules and Requirements: This assignment is weighted to 40%Must be confined to 2,000 words.Any list of the references actually cited must be included in your assignment paper. Font type should be Times New Roman (size 12), paragraph spacing should beequal to 1.5.A word copy of the assignment must be submitted via Turn-it-in (the link isavailable on Moodle).10% penalty will be applied for each day late. No extension will be given.Please write down your name and student ID on the cover page.Similarity rate must be lower than 20%, otherwise you will fail or even get zeromark in your ...

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    Part B:

    Answer 1:The following are the types of revenues being generated by the company:•Sales from goods and services•Interest being received from banks•others

    Answer 2:The following are the categories between which the assets of the group have been classified:•Current Assets•Non-current assets

    Answer 3:The following shows the different categories of equity of the group:•Contributed equity•Reserves•Retained earnings•Equity attributable to the owners of the company•Non-controlling interestsThe company holds about 98,947,309 shares as at the end of the financial year.

    This report aimed to develop a critical understating of the various accounting software by evaluating the cloud-based accounting software in regards to businesses and then suggest the most appropriate accounting software to a chosen company such as Woolworth. The findings of the current report reflected that the company has key activities like manage, organize, maintain its store staff, develop various strategies for the business, billing for their products, maintain their transactions, and records them and handle their conflicts, etc. Similarly, its other activities related to revenue and expenditure cycle also includes sales and purchase related practices. Moreover, some internal controls are found weak in Woolworth due to which company has risks like segregation of duties, major frauds, poor corporate governance, improper monitoring of managerial opportunistic behavior.

    This report aimed to develop a critical understating of the various accounting software by evaluating the cloud-based accounting software in regards to businesses and then suggest the most appropriate accounting software to a chosen company such as Woolworth. The findings of the current report reflected that the company has key activities like manage, organize, maintain its store staff, develop various strategies for the business, billing for their products, maintain their transactions, and records them and handle their conflicts, etc. Similarly, its other activities related to revenue and expenditure cycle also includes sales and purchase related practices. Moreover, some internal controls are found weak in Woolworth due to which company has risks like segregation of duties, major frauds, poor corporate governance, improper monitoring of managerial opportunistic behavior.

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