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The business company being profit-making should be a manufacturing company take sample company How the accounting system is organized as functional unit in the company?
The business company being profit-making should be a manufacturing company take sample company
- How the accounting system is organized as functional unit in the company?
- What are the most common and significant forms of business transactions and accounting functions in the company?
- Which forms of "Chart of Accounts" are in use:
- Which of the theoretical accounting processes i.e Journalizing: preparation of journal entries,Posting to the ledger,Trial Balance, Worksheet for adjustments at period/year end, and the common forms of transactions (being accrued and deferred) adjusted actually, Preparation of Financial Statements (drafted), Closing process (how and which accounts are closed) at the end
- Discuss the elements in the Financial Statements (often audited) Presented in the year ended, near to this report. (Please attach the financial statements with the notes thereon).
- Review the Applicability of the basic accounting principles and qualitative characteristics of the financial information.
- Analysis and Review Reporting: on the cost accounting practices and the management accounting practices in the Company.
- Cost Accounting functions, Forms and nature of Costs maintain in the accounting system (if manufacturing: DM, DL and Overheads)
- What forms of management accounting functions are practices in the Company:
- Cost Behavior Analysis: Break-Even Analysis, CVP Analysis or Target Profit Analysis
- Budgeting Process and Control: Master Budget and/or Flexible Budgets
- Standard Costing and Variance Analysis
- Provide summary and conclusions, include specially issues you considered and reported in the practical visit related to the accounting processes.
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