Required for Assessment
Complete Exercise 1 Boots which includes setting up a business using the Xero Demo
Company, importing and modifying a Chart of Accounts (CoA-boots-student.csv) and
completing the conversion process as at 1 January 2013 and then processing transactions
for the month of January 2013. When all the frequent transactions have been entered,
complete the Bank Reconciliation process (BS-boots.csv).
You are required to submit to Stream the following:
(i) The Bank Reconciliation Report for Boots as at 31 January 2013 (6 marks)
(ii) The Profit & Loss for Your Name Boots for the period 1 January 2013 to 31 January
2013. (30 marks)
(iii) The Balance Sheet for Boots as at 31 January 2013 (24 marks)
Login in to Xero at www.xero.com
Select Free Trial
Enter your details. Make sure you use EDU as a prefix in your trial company name e.g.
EDU Joe Yan Kayaks Ltd or EDU Joe Yan Boots Ltd. This will save you receiving calls from
Xero sales staff.
It will prove easier to complete the Boots assignment if you have first worked through the
Kayaks one, especially the “Frequent Transactions”.
Resetting the Demo Company does not reset some current 2019 transactions which are
there for the benefit of users who want to know how Xero works. They will have no impact
on your Financial Statements as long as all your transactions and reports relate to 2013.
Xero automatically resets the Demo company after 28 days. This appears to happen
around the end of the calendar month so in order to allow enough time please start early in
September and complete before the 28 th of September, even though the assignment is not
due until 30 September.
In the Xero calendar if you click on the current month and the year it will give you the option
to select the month (January) and the year (2013) which saves clicking back through the
months and years.
SECTION B CONTROLS RELATING TO XERO
The COBIT framework requires adequate controls so that information provided to
management satisfies seven key criteria: effectiveness; efficiency; confidentiality; integrity;
availability; compliance; reliability (Refer page 419).
For the following four criteria, efficiency, confidentiality, availability and compliance discuss
how features in XERO contribute to meeting these criteria. Use at least two examples in
your discussion of each criteria.
Whilst some of the examples from XERO could be applied to different criteria, you are
required to use examples only once in the assignment.
List your criteria 1 to 4 and indicate for each the criteria you are addressing. (Word limit 800
for all of Section B).
A marking grid for Section B is included in Appendix B.