ACC500 Assessment 2 Help: PIA Accounting Cycle, Ethics Essay and Presentation Guide
Quick answer: PIA ACC500 Business Decision Making Assessment 2 has three parts: an accounting cycle practice set in Excel (journals with GST, adjustments, ledger, three trial balances, worksheet, income statement, closing entries and balance sheet), a 1,200 to 1,500-word essay on ethics and governance for accountants, and a 15 to 20-slide group presentation. Most marks sit in the accounting cycle, so accurate, balanced Excel templates matter more than anything else.
PIA ACC500 Assessment 2 at a glance
| Item | Details from the brief |
|---|---|
| Institution | Polytechnic Institute Australia (PIA), Sydney and Geelong campuses |
| Unit | ACC500 Business Decision Making (core unit in PIA's Master of Business and Graduate Diploma in Business) |
| Task | Part A accounting cycle practice set (Excel), Part B ethics and governance essay, 2b group presentation |
| Length | Excel templates; essay 1,200 to 1,500 words; 15 to 20 slides for 15 to 20 minutes |
| Weighting | 15% + 10% |
| Due | Week 7, Sunday 23:59 via Moodle |
| Group size | Up to 4 students (self-select on Moodle) |
| Assumptions | Sole proprietorship; perpetual or periodic inventory system as stated in your question |
How to approach Part A: the accounting cycle in Excel
Your academic coordinator posts the transactions and Excel templates on Moodle. Work through the cycle in this order and check each step balances before moving on.
| Step | What to do | Check before moving on |
|---|---|---|
| 1. General journal (with GST) | Record every transaction in date order with debit, credit and a short narration. Split GST out at 10%. | Total debits equal total credits on every entry. |
| 2. Accruals and deferrals | Add adjusting entries for accrued expenses and revenue, prepaid expenses, unearned revenue and depreciation. | Each adjustment affects one balance sheet and one income statement account. |
| 3. Post to the general ledger | Post each journal line to its T-account or running-balance ledger. | Ledger balances agree with journal totals. |
| 4. Trial balances | Prepare the unadjusted trial balance, then the adjusted, then the post-closing. | Each trial balance totals agree. |
| 5. Worksheet | Carry balances across unadjusted, adjustments, adjusted, income statement and balance sheet columns. | Profit in the income statement columns equals the balancing figure in the balance sheet columns. |
| 6. Income statement | Use the retailer's functional format: sales, less cost of sales, gross profit, less selling and administrative expenses. | Profit matches the worksheet. |
| 7. Closing entries | Close revenue, expenses and drawings to the capital account (via an income summary if your template uses one). | Only balance sheet accounts remain open. |
| 8. Balance sheet | Classify assets and liabilities as current and non-current; show closing capital. | Assets = liabilities + owner's equity. |
Worked GST method example (not an answer): if goods are sold on credit for $1,100 including GST, record Accounts Receivable Dr $1,100, Sales Cr $1,000 and GST Collected Cr $100. Under a perpetual system you would also record Cost of Sales Dr and Inventory Cr at cost. Apply the same pattern to the figures in your own question.
Common mistake: posting GST-inclusive amounts to sales or inventory. The rubric rewards following the retailer's functional approach and a balance sheet where both sides agree, so one GST error can flow through every later step.
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How to approach Part B: the ethics and governance essay
The question asks you to identify and assess ethical and good-governance issues in running a business, and the responsibilities and accountability of accountants in a wider context. A clear structure for 1,200 to 1,500 words:
| Section | Words (approx.) | What goes in it |
|---|---|---|
| Introduction | 150 | Why ethics and governance matter to accountants; your argument and structure |
| Ethical issues in running a business | 350 | Conflicts of interest, earnings management, pressure from management; link to APES 110 fundamental principles |
| Governance issues | 300 | Board oversight, audit committees, internal controls; ASX Corporate Governance Principles |
| Responsibilities and accountability of accountants | 350 | Duties to employers, clients, regulators and the public; whistleblowing; an Australian case study as evidence |
| Conclusion | 150 | Answer the question directly and summarise your assessment |
The brief expects authentic academic and professional references, so mix peer-reviewed journal articles with professional sources such as CPA Australia, CA ANZ, APESB and ASIC guidance.
How to approach Assessment 2b: the group presentation
The presentation rubric has four equal criteria (25% each): idea generation and gap identification, stakeholder engagement and audience impact, PowerPoint design, and communication and mastery. Plan 15 to 20 slides: title, agenda, two to three slides walking through the cycle with one worked transaction, key financial statement results, the main ethics and governance issues, recommendations, and references. Give every member a speaking part and rehearse timing.
How the ACC500 Assessment 2 rubric is weighted
| Criterion | Weight | How to reach the top band (HD, 85%+) |
|---|---|---|
| Part A: general journal | 20% | Every entry recorded correctly, including GST |
| Part A: accrual and deferral entries | 5% | All adjusting entries recorded and completed |
| Part A: ledger, worksheet and trial balances | 25% | All entries posted; every trial balance agrees |
| Part A: financial statements and closing entries | 25% | Statements match the ledger, follow the retailer's functional approach and the balance sheet balances |
| Part B: essay | 25% | Thorough knowledge of ethics and governance concepts |
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Pre-submission checklist
- Every Excel template is complete; no blank cells where a balance belongs.
- GST is separated on every taxable transaction.
- All three trial balances agree and the balance sheet balances.
- Closing entries leave only balance sheet accounts open.
- The essay is 1,200 to 1,500 words and uses academic and professional references.
- Slides are 15 to 20, with a speaking part for each member.
- Files are uploaded to the correct Moodle box before Sunday 23:59 in Week 7.
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ACC500 Assessment 2 answer hints and sample structure
Students often search for ACC500 Assessment 2 answers or a solved practice set. The transactions in your Moodle question are what get marked, so a copied workbook will not match and is easy to detect. A better approach is to follow the eight-step order above, check each balance as you go, and use the essay structure table to plan your word count. If a trial balance will not agree, work backwards: check the worksheet, then the ledger postings, then the journal entries.
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Frequently asked questions
What is PIA ACC500 Assessment 2?
ACC500 Business Decision Making Assessment 2 at Polytechnic Institute Australia is a group task worth 15% plus 10%. Part A is an accounting cycle practice set completed in the Excel templates on Moodle, Part B is a 1,200 to 1,500-word essay on business ethics and governance for accountants, and Assessment 2b is a 15 to 20-slide face-to-face presentation.
When is ACC500 Assessment 2 due?
The brief sets the due date as Sunday of Week 7 at 23:59, submitted through the Moodle assignment box. Check your Moodle page for the exact date in your trimester.
Which steps of the accounting cycle are marked in ACC500?
General journal entries including GST, accrual and deferral adjustments, posting to the general ledger, unadjusted, adjusted and post-closing trial balances, the worksheet, the income statement, closing entries and the balance sheet.
How do I record GST in the ACC500 journal?
Split each taxable transaction into the GST-exclusive amount and 10% GST. GST on sales is a liability (GST Collected) and GST on purchases is an asset (GST Paid). Do not include GST in sales revenue or in the cost of inventory.
Which ethics frameworks work best for the ACC500 essay?
Most strong essays use APES 110 Code of Ethics for Professional Accountants (integrity, objectivity, professional competence and due care, confidentiality, professional behaviour), the ASX Corporate Governance Principles, and an ethical theory such as utilitarianism or deontology, applied to a real Australian case.
Can I get ACC500 answers or a solved practice set?
No. Copying a solved set is detected easily because the figures come from your own Moodle question. Our tutors can explain each step, check your entries and give feedback on your own Excel workbook and essay draft.
How long should the ACC500 presentation be?
The brief asks for 15 to 20 PowerPoint slides presented face to face in 15 to 20 minutes, based on your Part A and Part B answers, by groups of up to four students.
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Academic integrity: this guide explains how to approach the assessment. It is not an answer to submit. Our tutors provide teaching, feedback on your own work and proofreading only, in line with PIA's academic integrity policy and the TEQSA Act. If your unit allows generative AI, follow the brief's rules for declaring prompts and outputs.