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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

  1. How the accounting system is organized as functional unit in the company?
  2. What are the most common and significant forms of business transactions and accounting functions in the company?
  3. Which forms of "Chart of Accounts" are in use:
  4. 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
  5. 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).
  6. Review the Applicability of the basic accounting principles and qualitative characteristics of the financial information.
  7. Analysis and Review Reporting: on the cost accounting practices and the management accounting practices in the Company.
  8. Cost Accounting functions, Forms and nature of Costs maintain in the accounting system (if manufacturing: DM, DL and Overheads)
  9. What forms of management accounting functions are practices in the Company:
  10. Cost Behavior Analysis: Break-Even Analysis, CVP Analysis or Target Profit Analysis
  11. Budgeting Process and Control: Master Budget and/or Flexible Budgets
  12. Standard Costing and Variance Analysis
  13. Provide summary and conclusions, include specially issues you considered and reported in the practical visit related to the accounting processes.

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