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The document outlines the preparation of financial reports based on IFRS, including inventory adjustments, general ledger preparation, and end-of-period financial reports. It details the types of accounting errors and their corrections, as well as the structure of database tables for student and marks management. Additionally, it includes PHP scripts for importing student data and marks, displaying dashboards, and generating reports.

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samuel asefa
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© © All Rights Reserved
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Download as DOCX, PDF, TXT or read online on Scribd
2 views

code

The document outlines the preparation of financial reports based on IFRS, including inventory adjustments, general ledger preparation, and end-of-period financial reports. It details the types of accounting errors and their corrections, as well as the structure of database tables for student and marks management. Additionally, it includes PHP scripts for importing student data and marks, displaying dashboards, and generating reports.

Uploaded by

samuel asefa
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Occupation : Accounting & Finance

Level IV

Individual Assignment

Unit of Compitence : Preparing Financial Reports Based on IFRS

Prepared By : Ketemash Aklilu

Submitted To Birelew

Date 27/05/2017E.C Dire Dawa, Ethiopia


Summary of Preparing Financial Reports Based on IFRS

Inventory Adjustment (IAS 2)

- Perpetual System: No adjusting entry needed as it's continuously updated.


- Periodic System: Requires adjusting entries to match actual inventory:
- Inventory Decrease: Debit Cost of Goods Sold (COGS), Credit Inventory.
- Inventory Increase: Debit Inventory, Credit COGS.
- Valuation Methods:
- FIFO (First-In, First-Out) and Weighted Average are IFRS-compliant.
- LIFO (Last-In, First-Out) is not permitted under IFRS.
- Measurement: Inventories are measured at the lower of cost and net realizable value.

Final General Ledger Preparation

- Formats:
- T-Account Format: Simple visualization with debit (left) and credit (right).
- Columnar Format: Includes date, description, reference, debit, credit, and balance.
- Processes:
- Posting: Transferring journal entries to the ledger.
- Balancing: Ensuring total debits equal total credits, determining closing balances.

End-of-Period Financial Reports

- Components:
- Adjusted Trial Balance: Lists account balances after adjustments.
- Revenue (Income) Statement: Shows income, expenses, and net profit/loss.
- Revenue - COGS = Gross Profit
- Operating Profit = Gross Profit - Operating Expenses
- Balance Sheet (Statement of Financial Position): Displays assets, liabilities, and equity.
- Assets: Current, Fixed, and Intangible
- Liabilities: Current and Long-term
- Equity: Owner’s capital, retained earnings
- Closing Entries: Transfers balances from temporary to permanent accounts (e.g.,
revenues and expenses to retained earnings).
- Post-Closing Trial Balance: Confirms accounts are balanced after closing entries.

Accounting Errors

- Types of Errors:
- Original Entry Error: Wrong amount posted.
- Duplication Error: Entry recorded twice.
- Omission Error: Transaction not recorded.
- Reversal Error: Debit/Credit recorded incorrectly.
- Principle Error: Incorrect accounting principle applied.
- Commission Error: Correct account but wrong subsidiary ledger.
- Compensating Error: One error offsets another.
- Corrections: Done via adjusting journal entries and reconciliations (e.g., bank
reconciliation).

CREATE TABLE students (

id INT AUTO_INCREMENT PRIMARY KEY,

student_ID VARCHAR(20) UNIQUE,

student_Name VARCHAR(100),

sex ENUM('Male', 'Female'),

age INT,

grade VARCHAR(10),

section VARCHAR(10)

);

CREATE TABLE marks (

id INT AUTO_INCREMENT PRIMARY KEY,

student_ID VARCHAR(20),

subject VARCHAR(50),

mark INT,

FOREIGN KEY (student_ID) REFERENCES students(student_ID)


);

<?php

session_start();

require 'db.php'; // Ensure db.php is correctly set up

require 'vendor/autoload.php'; // Load PhpSpreadsheet

use PhpOffice\PhpSpreadsheet\IOFactory;

$message = '';

if ($_SERVER['REQUEST_METHOD'] == 'POST' && isset($_FILES['student_file'])) {

$file = $_FILES['student_file']['tmp_name'];

try {

$spreadsheet = IOFactory::load($file);

$sheet = $spreadsheet->getActiveSheet();

$data = $sheet->toArray();

$stmt = $conn->prepare("INSERT INTO students (student_ID, student_Name, sex, age,


grade, section) VALUES (?, ?, ?, ?, ?, ?)");
for ($i = 1; $i < count($data); $i++) { // Skip header

list($student_ID, $student_Name, $sex, $age, $grade, $section) = $data[$i];

$stmt->execute([$student_ID, $student_Name, $sex, $age, $grade, $section]);

$message = "Students imported successfully!";

} catch (Exception $e) {

$message = "Import failed: " . $e->getMessage();

?>

<!DOCTYPE html>

<html lang="en">

<head>

<title>Upload Students</title>

</head>

<body>

<h2>Import Students</h2>

<p style="color:green"><?php echo $message; ?></p>

<form method="POST" enctype="multipart/form-data">

<input type="file" name="student_file" required>

<button type="submit">Upload</button>

</form>
<a href="dashboard.php">Back to Dashboard</a>

</body>

</html>

<?php

session_start();

require 'db.php';

require 'vendor/autoload.php';

use PhpOffice\PhpSpreadsheet\IOFactory;

$message = '';

if ($_SERVER['REQUEST_METHOD'] == 'POST' && isset($_FILES['marks_file'])) {

$file = $_FILES['marks_file']['tmp_name'];

try {

$spreadsheet = IOFactory::load($file);

$sheet = $spreadsheet->getActiveSheet();

$data = $sheet->toArray();
$stmt = $conn->prepare("INSERT INTO marks (student_ID, subject, mark) VALUES (?, ?,
?)");

for ($i = 1; $i < count($data); $i++) { // Skip header

$student_ID = $data[$i][0];

for ($j = 1; $j < count($data[$i]); $j++) {

$subject = "Subject_" . $j; // Rename subjects dynamically

$mark = $data[$i][$j];

$stmt->execute([$student_ID, $subject, $mark]);

$message = "Marks imported successfully!";

} catch (Exception $e) {

$message = "Import failed: " . $e->getMessage();

?>

<!DOCTYPE html>

<html lang="en">

<head>

<title>Upload Marks</title>
</head>

<body>

<h2>Import Marks</h2>

<p style="color:green"><?php echo $message; ?></p>

<form method="POST" enctype="multipart/form-data">

<input type="file" name="marks_file" required>

<button type="submit">Upload</button>

</form>

<a href="dashboard.php">Back to Dashboard</a>

</body>

</html>

<?php

session_start();

require 'db.php';

// Fetch Students

$students = $conn->query("SELECT * FROM students")->fetchAll(PDO::FETCH_ASSOC);

// Fetch Marks

$marks = $conn->query("SELECT student_ID, subject, mark FROM marks")-


>fetchAll(PDO::FETCH_ASSOC);
?>

<!DOCTYPE html>

<html lang="en">

<head>

<title>Dashboard</title>

</head>

<body>

<h2>Dashboard</h2>

<h3>Student List</h3>

<table border="1">

<tr>

<th>ID</th><th>Name</th><th>Sex</th><th>Age</th><th>Grade</th><th>Section</
th>

</tr>

<?php foreach ($students as $s) : ?>

<tr>

<td><?php echo $s['student_ID']; ?></td>

<td><?php echo $s['student_Name']; ?></td>

<td><?php echo $s['sex']; ?></td>

<td><?php echo $s['age']; ?></td>

<td><?php echo $s['grade']; ?></td>

<td><?php echo $s['section']; ?></td>

</tr>
<?php endforeach; ?>

</table>

<h3>Student Marks</h3>

<table border="1">

<tr>

<th>Student ID</th><th>Subject</th><th>Mark</th>

</tr>

<?php foreach ($marks as $m) : ?>

<tr>

<td><?php echo $m['student_ID']; ?></td>

<td><?php echo $m['subject']; ?></td>

<td><?php echo $m['mark']; ?></td>

</tr>

<?php endforeach; ?>

</table>

<a href="upload_students.php">Import Students</a>

<a href="upload_marks.php">Import Marks</a>

</body>

</html>
<?php

$host = 'localhost';

$dbname = 'school_management';

$username = 'root'; // Change if needed

$password = ''; // Change if needed

try {

$conn = new PDO("mysql:host=$host;dbname=$dbname;charset=utf8", $username,


$password);

$conn->setAttribute(PDO::ATTR_ERRMODE, PDO::ERRMODE_EXCEPTION);

} catch (PDOException $e) {

die("Connection failed: " . $e->getMessage());

?>

<?php

require 'db.php';
try {

$stmt = $pdo->query("SELECT * FROM students");

$students = $stmt->fetchAll(PDO::FETCH_ASSOC);

} catch (PDOException $e) {

die("Database error: " . $e->getMessage());

?>

<!DOCTYPE html>

<html lang="en">

<head>

<title>View Students</title>

</head>

<body>

<h2>Students List</h2>

<table border="1">

<tr>

<th>Student ID</th>

<th>Name</th>

<th>Sex</th>

<th>Age</th>

<th>Grade</th>

<th>Section</th>

</tr>
<?php foreach ($students as $student): ?>

<tr>

<td><?= htmlspecialchars($student['student_id']) ?></td>

<td><?= htmlspecialchars($student['name']) ?></td>

<td><?= htmlspecialchars($student['sex']) ?></td>

<td><?= htmlspecialchars($student['age']) ?></td>

<td><?= htmlspecialchars($student['grade']) ?></td>

<td><?= htmlspecialchars($student['section']) ?></td>

</tr>

<?php endforeach; ?>

</table>

<a href="dashboard.php">Back to Dashboard</a>

</body>

</html>

<?php

require 'db.php';

try {

$stmt = $pdo->query("SELECT * FROM marks");

$marks = $stmt->fetchAll(PDO::FETCH_ASSOC);

} catch (PDOException $e) {

die("Database error: " . $e->getMessage());

}
?>

<!DOCTYPE html>

<html lang="en">

<head>

<title>View Marks</title>

</head>

<body>

<h2>Marks List</h2>

<table border="1">

<tr>

<th>Student ID</th>

<th>Subject 1</th>

<th>Subject 2</th>

<th>Subject 3</th>

<th>Subject 4</th>

<th>Subject 5</th>

<th>Subject 6</th>

<th>Subject 7</th>

<th>Total</th>

<th>Average</th>

<th>Semester</th>

</tr>

<?php foreach ($marks as $mark): ?>

<tr>
<td><?= htmlspecialchars($mark['student_id']) ?></td>

<td><?= htmlspecialchars($mark['subject_1']) ?></td>

<td><?= htmlspecialchars($mark['subject_2']) ?></td>

<td><?= htmlspecialchars($mark['subject_3']) ?></td>

<td><?= htmlspecialchars($mark['subject_4']) ?></td>

<td><?= htmlspecialchars($mark['subject_5']) ?></td>

<td><?= htmlspecialchars($mark['subject_6']) ?></td>

<td><?= htmlspecialchars($mark['subject_7']) ?></td>

<td><?= htmlspecialchars($mark['total']) ?></td>

<td><?= htmlspecialchars($mark['average']) ?></td>

<td><?= htmlspecialchars($mark['semester']) ?></td>

</tr>

<?php endforeach; ?>

</table>

<a href="dashboard.php">Back to Dashboard</a>

</body>

</html>

<?php

require 'db.php';
try {

$stmt = $pdo->query("SELECT * FROM promotion");

$promotion = $stmt->fetchAll(PDO::FETCH_ASSOC);

} catch (PDOException $e) {

die("Database error: " . $e->getMessage());

?>

<!DOCTYPE html>

<html lang="en">

<head>

<title>Promotion Policy</title>

</head>

<body>

<h2>Promotion Result</h2>

<table border="1">

<tr>

<th>Student ID</th>

<th>Name</th>

<th>Total Sem 1</th>

<th>Total Sem 2</th>

<th>Average</th>

<th>Cumulative Rank</th>

<th>Promotion Status</th>
</tr>

<?php foreach ($promotion as $row): ?>

<tr>

<td><?= htmlspecialchars($row['student_id']) ?></td>

<td><?= htmlspecialchars($row['name']) ?></td>

<td><?= htmlspecialchars($row['total_sem1']) ?></td>

<td><?= htmlspecialchars($row['total_sem2']) ?></td>

<td><?= htmlspecialchars($row['average']) ?></td>

<td><?= htmlspecialchars($row['cumulative_rank']) ?></td>

<td><?= htmlspecialchars($row['promotion_status']) ?></td>

</tr>

<?php endforeach; ?>

</table>

<a href="dashboard.php">Back to Dashboard</a>

</body>

</html>

<?php

require 'db.php';

require 'vendor/autoload.php';

use PhpOffice\PhpSpreadsheet\Spreadsheet;

use PhpOffice\PhpSpreadsheet\Writer\Xlsx;
$stmt = $pdo->query("SELECT * FROM promotion");

$rows = $stmt->fetchAll(PDO::FETCH_ASSOC);

$spreadsheet = new Spreadsheet();

$sheet = $spreadsheet->getActiveSheet();

// Header

$sheet->setCellValue('A1', 'Sabian Secondary School');

$sheet->setCellValue('A2', 'Grade: 9');

$sheet->setCellValue('A3', 'Section: A');

// Table Header

$sheet->setCellValue('A5', 'Student ID');

$sheet->setCellValue('B5', 'Name');

$sheet->setCellValue('C5', 'Sex');

$sheet->setCellValue('D5', 'Age');

$sheet->setCellValue('E5', 'Total Sem1');

$sheet->setCellValue('F5', 'Total Sem2');

$sheet->setCellValue('G5', 'Average');

$sheet->setCellValue('H5', 'Cumulative Rank');

$sheet->setCellValue('I5', 'Promotion Status');

$rowNum = 6;

foreach ($rows as $row) {


$sheet->setCellValue('A' . $rowNum, $row['student_id']);

$sheet->setCellValue('B' . $rowNum, $row['name']);

$sheet->setCellValue('C' . $rowNum, $row['sex']);

$sheet->setCellValue('D' . $rowNum, $row['age']);

$sheet->setCellValue('E' . $rowNum, $row['total_sem1']);

$sheet->setCellValue('F' . $rowNum, $row['total_sem2']);

$sheet->setCellValue('G' . $rowNum, $row['average']);

$sheet->setCellValue('H' . $rowNum, $row['cumulative_rank']);

$sheet->setCellValue('I' . $rowNum, $row['promotion_status']);

$rowNum++;

$writer = new Xlsx($spreadsheet);

$filename = 'Class_Roster_Report.xlsx';

header('Content-Type: application/vnd.ms-excel');

header('Content-Disposition: attachment;filename="' . $filename . '"');

header('Cache-Control: max-age=0');

$writer->save('php://output');

exit;

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