ACC117 Introduction to Financial Accounting Group Assignment Brief 2026 | UiTM

ACC117 Group Assignment Brief

Course Code: ACC117

Course Name: Introduction to Financial Accounting

Programme: Diploma / Bachelor of Accountancy

Semester: 1

Session: 2026

1. Assignment Title

Group Assignment: Learning Basic Financial Accounting Using a Small Business

2. What This Assignment Is About

This assignment is given to help you understand accounting in a simple way.
In class, you learn rules and concepts. Here, you use them.

You will look at a small business, write down its transactions, and prepare
basic financial statements. The aim is to help you understand what the numbers
mean, not just how to calculate them.

3. What You Should Learn

After completing this assignment, students should be able to:

• Understand basic accounting concepts from ACC117
• Record simple transactions correctly
• Prepare basic financial statements
• Explain results using simple words
• Work properly as part of a group

4. Group Work

• Students must work in groups of 4 or 5
• Group members should be from the same tutorial group
• Every member is expected to take part in the work

5. What You Need to Do

Choose one small business or create a simple imaginary business.
Then complete the tasks below.

Task 1: Business Description

Explain briefly:

• What type of business it is
• What the business does or sells
• What kind of transactions usually happen

Task 2: Business Transactions

• List at least 10 business transactions
• Record each transaction using double-entry accounting
• Show debit and credit clearly

Task 3: Financial Statements

Prepare the following for one accounting period:

Answer

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