OBJECTIVE: To study the design and operation of the accounting system used by a business. This project is designed to supplement textbook and class lectures by providing a real-life example of a business. STEP 1 Every student needs to identify preferably a small business/company and provide the instructor with the name and telephone of the contact person. After obtaining a general overview of the business, the group is to collect supporting documents (source documents) for the report. STEP 2 Present an overview of the company. Identify system and information system of the company. Select a subsystem of the company. How many transactions cycles does the company have? Select any one transaction cycles and list the major transactions that occur in each. What source documents does the company use to capture the relevant data for the transactions you identified in? Provide a narrative description of the accounting cycle studied. For example. If you choose the revenue cycle, describe a) The product/services sold by the company b) How those products/services are sold/delivered c) How customers payments are collected d) What documents are used for these activities e) Filing/storage of documents 2 f) How the general ledger and other master files are updated. STEP 3 Provide graphic documentation to summarize the narrative description. This should include Data Flow diagrams (compulsory).