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PROJECT GUIDELINES . . . . You are starting a new company Decide on a product and a business You start the business and the first month passes Pass at least 30 Journal entries for transactions for the first month Based on these, prepare Ledgers, Trial Balance and Financial Statements Prepare a COMPLETE set of financial statements (including cash flow statement), i.e. with notes, policies and disclosures relevant to your entity You may use the published financial statements of any entity for guidance and for copying off accounting policies from The journal entries MUST include the following: . . . . . Opt either FIFO/AVCO and either Periodic/Perpetual method of inventory valuation and prepare back end stock ledger card in addition to the journal entries Perform NRV test on the closing stock and clearly show working. All expenses necessary for running that business as well as any potential income other than revenue Closing inventories and closing receivables (you must sell some of the goods on credit) The company is buying on credit, closing trade payables should be there You must have cash on hand The company is 50% equity financed and 50% debt financed All schedules should be added as annexures PROJECT GUIDELINES . . . . You are starting a new company Decide on a product and a business You start the business and the first month passes Pass at least 30 Journal entries for transactions for the first month Based on these, prepare Ledgers, Trial Balance and Financial Statements Prepare a COMPLETE set of financial statements (including cash flow statement), i.e. with notes, policies and disclosures relevant to your entity You may use the published financial statements of any entity for guidance and for copying off accounting policies from The journal entries MUST include the following: . . . . . Opt either FIFO/AVCO and either Periodic/Perpetual method of inventory valuation and prepare back end stock ledger card in addition to the journal entries Perform NRV test on the closing stock and clearly show working. All expenses necessary for running that business as well as any potential income other than revenue Closing inventories and closing receivables (you must sell some of the goods on credit) The company is buying on credit, closing trade payables should be there You must have cash on hand The company is 50% equity financed and 50% debt financed All schedules should be added as annexures