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Sports Station : A Computerised Accounting Practice Set Using MYOB Version 19 - Wendy Pabst

Sports Station

A Computerised Accounting Practice Set Using MYOB Version 19

Paperback

Published: 16th August 2012
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Sports Station is a computerised practice set using MYOB AccountRight Plus V19. This practice set is designed to give students experience in recording a variety of business transactions common to small businesses, so that they will gain an understanding of a computerised accounting system, how it operates, how to set up a data file and enter opening balances, how to record transactions, and how to produce useful reports. This ‘hands-on’ methodology reinforces the students’ understanding of accounting fundamentals typically encountered in practice, and is therefore, suitable for students undertaking a course in accounting or computer-based accounting information systems.

Completion of the practice set for a one month period, should ensure a greater appreciation of the following:

  • The steps in a typical accounting cycle for a small business
  • The use of subsidiary ledgers
  • The perpetual inventory system
  • Balance day adjustments
  • The bank account reconciliation
  • How the accounting cycle culminates in the preparation of financial statements
  • How GST is recorded and the effect it has on transactions
  • The variety of source documents, and
  • How to extract information from source documents to record transactions

Chapter 1 – Introduction
Completing the Practice Set
Installing MYOB AccountRight Plus

Chapter 2 – Guided Tour of MYOB
Running MYOB AccountRight Plus and Loading the Data File
MYOB AccountRight Plus Graphical Interface
Overview of MYOB Command Centres

Chapter 3 – Setting up the Data File
Business Background: Sports Station
Create a New Data File
Set up the new business details using the New Company File Assistant
Set-up the accounts list
Double-entry accounting and linked accounts
Entering general ledger opening balances
Check the Accounts List
Set up customer cards and enter opening balances
Set up supplier cards and enter opening balances
Set up inventory items
Record inventory opening balances
Initial bank reconciliation

Chapter 4 – Entering Transactions for period 1
Reversing journal entries
Purchase order
Cash sales
Spend money
Pay a supplier (including prompt payment discount)
Convert a purchase order into a bill
Credit sale (new customer)
Receipt from a customer
Bad debt
Receive money
Journalise profit on sale of asset
Spend money (payment of wages)
Pay supplier
Petty cash

Chapter 5 – Reports
Using the command centre to produce reports
Using the main menu bar to produce reports
Profit and loss
Balance sheet
Trial balance

Chapter 6 – Completing the practice set
Period 2 transactions (10 to 17 November)
Period 3 transactions (18 to 23 November)
Period 4 transactions (24 to 30 November)

APPENDIX 1 Transactions – November 2012
APPENDIX 2 An Introduction to the GST and PAYG
APPENDIX 3 Chart of accounts
APPENDIX 4 MYOB Help

ISBN: 9781118439852
ISBN-10: 1118439856
Audience: Tertiary; University or College
Format: Paperback
Language: English
Number Of Pages: 104
Published: 16th August 2012
Weight (kg): 0.31