Navigaid Systems Pty Ltd

Navigaid Systems Pty Ltd : A Manual Accounting Practice Set

  • Paperback

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Description

Navigaid Systems Pty Ltd is a small retail business specialising in the supply of a limited range of person global positioning systems to a variety of customers. The practice set is designed to give users experience, in a simulated retail business environment, experience in analysing, recording and processing a number of common business transactions incorporating a perpetual inventory system in a manual accounting system. On completion of this practice students should have an understanding of the processes and procedures associated with the manual accounting system and in particular a greater appreciation of: * the steps involved in the accounting cycle for a small retail business * how the accounting cycle culminates in the production of monthly financial statements * the accounting procedures used in a perpetual inventory system * how the Goods and Services Tax impacts on accounting * the role of balance day adjustments and their effects on final statements, and the end-of-period closing process * preparation of financial statements from accounting records.F EATURES * Students will learn how typical business events are recorded in a manual accounting system * Students will gain a basic understanding of the rules for debiting and crediting * Represents accounting processes that are made by a typical small business.show more

Product details

  • Paperback
  • John Wiley & Sons Australia Ltd
  • Milton, QLD, Australia
  • 0470820187
  • 9780470820186

Table of contents

Introduction Navigaid Systems Pty Ltd - company background Accounting system and accounting records Accounting procedures General and subsidiary ledgers opening balances Transactons for June 2008 Instructions Journals General Journal Sales journal Purchases Journal Cash Receipts Journal Cash Payments Journal Ledgers Accounts Receivable Ledger Accounts Payable Ledger Inventory Ledger General Ledger Final Statements Schedules of subsidiary ledger balances Worksheet Income Statement Balance Sheet Post-closing trial balance Appendix - Transactions June 2008show more