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### Viva-voce Project Instructions

Task:

1. Preparation of Financial Documents:
- Prepare Journal/Sub-division of Journal, Ledger, Trial Balance, and Financial Statements of a partnership firm based on a case study.

2. Case Study Development:
- Develop a case study showing how two or more friends decide to start a business with a certain amount of capital.
- Prepare their Partnership Deed including interest on capital, partner's salary, commission, interest on drawings, interest on partner's loan, and rent paid to a partner.

3. Transaction Details:
- Write in detail their transactions during the year: purchases (cash and credit), sales (cash and credit), expenses, purchase of fixed assets and depreciation charged on them, any outstanding expenses, prepaid expenses, accrued income, drawing bills of exchange, accepting bills payable, etc.
- Ensure the case study includes at least 15 transactions.

4. Journal Entries and Financial Statements:
- Pass the journal entries based on the case study.
- Post them into the ledger.
- Prepare a Trial Balance.
- Prepare the Trading and Profit and Loss Account, Profit and Loss Appropriation Account, and Balance Sheet.

5. Visual Representation:
- Depict various expenses for comparison purposes using bar diagrams and pie charts.

6. Accounting Ratios:
- Calculate relevant accounting ratios like liquidity, solvency, activity, and profitability, providing their formulas and computations.
- Show these ratios graphically and/or pictorially (using bar diagrams and pie charts).
- Compare these ratios with industry standards if possible.

Note: All tasks and calculations should be part of the viva-voce presentation.

Sagot :

GinnyAnswer

Final answer:

Viva-voce in accounting education involves creating financial statements for a partnership business based on a case study, including journal entries, ledgers, and analysis of accounting ratios.


Explanation:

Viva-voce in accounting education often involves comprehensive projects like preparing financial statements for a partnership business based on a case study. This includes creating a partnership deed, recording various transactions, journalizing entries, preparing financial statements, and analyzing accounting ratios.

Students are tasked with developing a detailed case study with at least 15 transactions, passing journal entries, posting to ledgers, preparing a Trial Balance, Profit and Loss Account, Balance Sheet, and depicting expenses using bar diagrams and pie charts.

Key aspects include calculating accounting ratios like liquidity, solvency, activity, and profitability, graphically representing the ratios, and possibly comparing them with industry averages.


Learn more about Accounting education here:

https://brainly.com/question/37510079


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