Question 1

Most organisations have a range of policies and procedures relating to the operation of their accounting systems. Describe how you would apply policies and procedures to operating a computerized accounting system.

Question 2

With accrual accounting, when does the GST implications arise and why is it considered to be better than the cash system?

Question 3

What is the general ledger and how does it involve double entry accounting? Discuss .

Question 4

To what standards does the Chart of Accounts need to be prepared and what role has the AASB in this?

Question 5

What are the advantages of a computerised accounting system compared with a manual system?

Question

how the assigning of numbers in the Chart of Accounts can assist in identifying accounts particularly with regard to organisations with many locations.

Question 7

List the name of two desktop and cloud-based computerised accounting system. Write down at least two features of each desktop and cloud-based computerised accounting system.

Question 8

What legislative and regulatory requirements do you need to keep in mind when filling documents for Willow Wines PtyLtd? And how long you need to keep it? What are the issues to consider in regards to legislation when using computerized accounting systems?

Question 9

How do you update and review the system (MYOB) for accuracy or any detected processing errors? You need to access the MYOB Support Website