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Boab Art Gallery

Boab Art Gallery A Computerised Accounting Practice Set Using MYOB AccountRight PLUS Version 19

Author: Wendy Pabst; Brian Perrin
Publisher: John Wiley & Sons
ISBN: 9780730302407
Published In: June 2011
Format: Paperback , 81 pages
Jurisdiction: International or US ? Disclaimer:
Countri(es) stated herein are used as reference only

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Description
Contents

Details

Boab Art Gallery 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.

Features:

Students will set up a data file for a company and process transactions for one month
An overview of the MYOB Command Centres is provided
Includes installation guidelines for MYOB AccountRight Plus
The transactions for period 1 are demonstrated in Chapter 4 with step-by-step instructions and screen shots of relevant windows, so that students can compare their screens against the screen shots before recording the entry or moving to the next step
A CD containing MYOB AccountRight Plus V19 is included with the practice set.

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: Boab Art Gallery
Create a new data file
Set up the 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
Receive money
Purchase order (new supplier)
Credit sales
Receipt from a customer
Pay a supplier (including prompt payment discount)
Transfer money
Receipt from a customer
Convert a purchase order to a bill
Cash sales
Purchase item
Payment of wages and drawings
Cash purchase

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 (8 August to 14 August)
Period 3 transactions (15 August to 21 August)
Period 4 transactions (22 August to 31 August)

APPENDIX 1 Transactions - August 2011
APPENDIX 2 An introduction to the GST and PAYG
APPENDIX 3 Chart of accounts
APPENDIX 4 MYOB Help