Homework answers / question archive / ASSIGNMENT SPRING 2021 ACCT3404 / BSAC3111 ACCOUNTING FOR GOVERNMENT AND NON-PROFIT ORGANIZATION INDIVIDUAL CASE PROJECT / ASSIGNMENT Weightage 20% (15 written report + 5 presentation) OBJECTIVE: To study ACCCOUNTING POLICIES AND PRACTICES of Government or business units

ASSIGNMENT SPRING 2021 ACCT3404 / BSAC3111 ACCOUNTING FOR GOVERNMENT AND NON-PROFIT ORGANIZATION INDIVIDUAL CASE PROJECT / ASSIGNMENT Weightage 20% (15 written report + 5 presentation) OBJECTIVE: To study ACCCOUNTING POLICIES AND PRACTICES of Government or business units

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ASSIGNMENT SPRING 2021 ACCT3404 / BSAC3111 ACCOUNTING FOR GOVERNMENT AND NON-PROFIT ORGANIZATION INDIVIDUAL CASE PROJECT / ASSIGNMENT Weightage 20% (15 written report + 5 presentation) OBJECTIVE: To study ACCCOUNTING POLICIES AND PRACTICES of Government or business units. This project is designed to supplement textbook and class lectures. Assignment/Case Study Each student must submit a complete profile of one of the Public or Private organization in Oman as a case study in the form of an assignment. It should include financial statements (latest years and not older than 2 years) of the case study organization. Case study + presentation makes up 20% of the total marks. The Case Study should include the following information: • Selection of any public or private company or Government unit. • Provide a general report on the financial statements giving the details of Accounting policies/procedures and methods adopted (from Accounting Notes or website of the organization). • Provide a complete description of any four major accounting heads from the selected financial statement/s like, current assets, current liabilities, capital assets, depreciation etc. Description must comprise explaining Accounting policy, Calculation adopted and a Comparison with government accounting system (a minimum of four ‘accounting heads’ have to be selected by the student). • Attach/Present the latest financial statements. • Conclude the report with a discussion whether the organization is operating efficiently or not and how similar are the accounting practices with government accounting. 1 • COPYING PREVIOUS ASSIGNMENT BY CHANGING FINANCIAL YEAR WILL BE GIVEN ZERO MARKS. Blackboard zero percent plagiarism is not a proof of original assignment. Present your original work. Group Assignment Assessment criteria (Written part) S. No. Criteria Marks 1 Cover page and table of contents 1 2 Introduction and profile of the organization 2 3 Accounting procedures and methods adopted by the organization 3 4 Accounting head/area explanation (4 * 2) 8 5 Attach latest (2020) Financial Statements covering accounting heads 1 Total Marks 15 Case Study Assessment criteria (Individual Presentation) S. No. Criteria Marks 6 Clarity of concept (Accounting methods adopted by company) 2 7 Queries answered (Accounting heads) 3 Total Marks 5 2 • • • • • • • • • Login to msm.gov.om Select Companies Choose your company name from the list Select Financial Reports Download the Annual Report / Audited Financial Statements of 2020 in English Print Income Statement, Balance Sheet and Statement of Cash Flows Save the Notes to Financial Statements in Laptop Don’t select the data of parent Company or Group Don’t consider the numbers in $ Chapter 2: Write the Accounting Policies and Procedures or methods followed by the Company – 3 Pages: Notes to Financial Statements Chapter 3: Select any four Accounting Heads as per your choice: Explain them in detail with numbers / figures of 2020 and 2019 with a comparative percentage analysis and interpretation: Income Statement, Balance Sheet and Statement of Cash Flows. The details of the accounting heads can be obtained from Notes to Financial Statements – 6 Pages Example: 1. Current Assets: Cash, Inventory, Receivables, Short-term investments etc. For each item prepare a separate comparative table to show the data of 2020 and 2019. Make a percentage analysis and write the interpretation below the table for each item 2. Current Liabilities: payables, Short-term loans etc. For each item prepare a separate comparative table to show the data of 2020 and 2019. Make a percentage analysis and write the interpretation below the table for each item 3. Non-Current Assets: property, Plant and Equipment, Long-term investments etc. For each item prepare a separate comparative table to show the data of 2020 and 2019. Make a percentage analysis and write the interpretation below the table for each item 4. Non-Current Liabilities: Term Loans, Bonds, and Debentures etc. For each item prepare a separate comparative table to show the data of 2020 and 2019. Make a percentage analysis and write the interpretation below the table for each item 5. List of Revenues 6. List of Expenses 7. List of Owner’s Equity 8. List of Operating Cash Flows 9. List of Investing Cash Flows 10. List of Financing Cash Flows (Balance Sheet: 1,2,3,4 & 7; Income Statement: 5 & 6; Statement of Cash Flows: 8,9 & 10) Chapter 4: Conclusion: Write the findings of the analysis made in chapter 3. Comment on the financial position of the company – 1 page • Profitability position of the company by comparing profits of 2019 and 2020 • Compare Current Assets (CA) with Current liabilities (CL) of the Company during 2019 & 2020 and comment upon whether CA are sufficient to pay off the CL • Compare the Debts with Equity to comment upon the long-tern solvency of the business • Compare the net cash flows of operating, investing and financing activities to comment on the cash position of the business at the end of 2019 & 2020 3 • If Expenses are more leading to decrease in profit or if the revenues are less resulting in lower profit. You can comment on the increase of revenues or reduction in expenses required to maximize the profit Chapter 5: Annexure: Attach the Income Statement, Balance Sheet and Statement of Cash Flows of the company in 2020 References: In APA Style Last date to submit the Assignment: May 20, 2021 (Thursday) before 4pm on Blackboard NOTE: Paraphrase all the contents taken from the web sources or any other materials in order to minimize the percentage of plagiarism 4