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Accounting Level II - Third Term Assignement I

This document contains two projects assessing competencies in personal finance and debt management. Project one provides personal budget data for Ato Chala Desta and tasks the trainee to [1] prepare budget and performance reports, [2] calculate savings percentages and discuss savings benefits, and [3] calculate repayment for a 200,000 birr loan at 12% annual interest. Project two describes Coca-Cola taking a 9 million birr loan at 13% interest for facility expansion, paid in monthly installments over 5 years. Tasks include [1] calculating first year interest and service fees, [2] total 5 year service fees, [3] discussing credit advantages and disadvantages, [4] distinguishing secured

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1K views3 pages

Accounting Level II - Third Term Assignement I

This document contains two projects assessing competencies in personal finance and debt management. Project one provides personal budget data for Ato Chala Desta and tasks the trainee to [1] prepare budget and performance reports, [2] calculate savings percentages and discuss savings benefits, and [3] calculate repayment for a 200,000 birr loan at 12% annual interest. Project two describes Coca-Cola taking a 9 million birr loan at 13% interest for facility expansion, paid in monthly installments over 5 years. Tasks include [1] calculating first year interest and service fees, [2] total 5 year service fees, [3] discussing credit advantages and disadvantages, [4] distinguishing secured

Uploaded by

Edom
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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QUEENS’ COLLEGE

TVET PROGRAM
INSTITUTIONAL SUMMATIVE MODEL COC ASSESSMENT (20 %)
KNOWLEDGE AND PRACTICAL PACKAGE
ASSIGNMENT ONE
Trainee’s Name:
ID No.:
Occupation/Department: Basic Account Works
Section:
Entry & Level: 2012 E.C Entry , Level II Trainees’
Please Circle On Your Division: Regular, Extension , Weekend
Please Write your trainer’s name:
Lists of unit of competencies covered  EIS BAW 2 08 0812 Develop and use a personal budget
in this assessment:
 EIS BAW 2 09 0812 Develop and use a saving plan
 EIS BAW 2 10 0812 Develop Understanding of Debt and
Consumer Credit

CAMPUS :
Sector Infra structure
Sub sector Business and finance
Occupational standard Basic Account Works (BAW) level II

General Directions:
Deartrainee, in doing your individual assignment successful, you have to:-
Devote your time and submit the assignment up on the schedule.
Create interdependence and build individual responsibility and accountability.
Use your comprehension to complete the assignment.
Examine your capacityfor COC exam by doing this assignment by yourself.
Explain your idea briefly and clearly, neatness is expected.
You can refer your note book and different supporting resources.

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Project one:

The following data is given for personal income expenditures plan and actual expenditures of
Ato Chala Desta for the month of Sene 2011 E.C

S/No Descriptions Estimated Budget Sene 2011 Actual Budget Sene 2011
1 Food &Related Cost 3,000 3,100
2 Clothing 1,950 1,700
3 Salary 5,400 5,400
4 House Rent 2,000 2,000
5 Par time 2,500 2,200
6 School Fee 1,650 1,650
7 Utility Fee 1,050 1,050
8 Personal Saving

Using the above information

Task 1.1. Prepare Budget report for the month of Sene 2011

Task 1.2. Prepare personal budget performance report for the month of Sene 2011

Task 1.3. Calculate the budget and Actual personal saving percentage and what are the
advantage of saving in general?

Task 1.4. Assume Ato Chala Desta borrowed birr 200,000 to be repaid at a lump sum at one
year with in interest rate 12% of per annual . Calculate total amount that should be collected
from Ato Chala Desta at the end of the year.

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Project Two: Coca- Cola Company want to invest for expansion of existing products in Sebeta
Town. The total Capital needed for expansion of the project birr 9 million to achieve the plan 25%
of the capital covered by loan from Commercial bank of Ethiopia .The company agreed to
borrowed loan at interest rate 13 % paid monthly at equal installment for Five years and service
charge 6% the total loan amount equally distributed for five year.

Task 2.1. Calculate the total interest expense &service charge at the end of the first year

Task 2.2. Calculate the total service charge at the end of the five year

Task 2.3. Demonstrate the advantages and disadvantages of credit

Task 2.4. Differentiate between unsecured and secured loans

Task 2.5.Demonstrate the Implications of establishing a poor credit history

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