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Accounting System and Process - Doc

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Added on  2021-05-31

Accounting System and Process - Doc

   Added on 2021-05-31

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Running head: ACCOUNTING SYSTEM AND PROCESSAccounting System and ProcessName of the StudentName of the UniversityAuthors NoteCourse ID
Accounting System and Process - Doc_1
ACCOUNTING SYSTEM AND PROCESS1Table of ContentsAnswer to question 1:.................................................................................................................2Answer to question 2:.................................................................................................................2Answer to question 3:.................................................................................................................2Answer to question 4:.................................................................................................................3Answer to question 5:.................................................................................................................4Answer to question 6:.................................................................................................................4Answer to question 7:.................................................................................................................5Answer to requirement 1:...........................................................................................................5Answer to requirement 2:...........................................................................................................6Answer to question 8:.................................................................................................................6Answer to question 9:.................................................................................................................8Answer to question 10:...............................................................................................................8Answer to question 11:...............................................................................................................9Answer to question 12:...............................................................................................................9Answer to question 13:...............................................................................................................9Reference List:.........................................................................................................................12
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ACCOUNTING SYSTEM AND PROCESS2Answer to question 1: The purpose of substituting the spreadsheet cell with the names to enable an informalunderstanding of the accessibility and relation with the calculations performed withdeclaration of each spreadsheet. Below stated is the example of spreadsheet with the names; Normal View: ParticularsAmount (in $)Sales3,20,000Less: Cost of Goods Sold1,70,000Gross profit1,50,000Formula View: ParticularsAmount (in $)Revenue='Q-1 (NV)'!C4Cost of revenue='Q-1 (NV)'!C5Gross profit=C4-C5Answer to question 2:The negative numbers are presented as brackets in red colour. Accountants makes theuse of the spreadsheet to show the negative numbers in bracket is because it helps inemphasising that the figure constitute a loss or expenses rather than a gain (Zeff, 2016). Answer to question 3: As stated by Edmonds et al., (2016) necessary for the accountants to have the distinctsystem of accounting. The primary objective of creating a separate accounting data is toenable a single view of each row and column. For an accountant to have a separateaccounting area helps in forming a detailed report which covers the necessary source ofinformation.
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ACCOUNTING SYSTEM AND PROCESS3A separate record keeping provides correct recording of data in the spreadsheet(Vasarhelyi et al., 2018). The process involved recording spreadsheet is the development ofseparate data entry to enable simple data recording and removing the undesired records. Anexample of spreadsheet is stated below; Answer to question 4: As defined by Tricker & Tricker, (2015) “IF” is a type of function that return onevalue if the criteria are True or alternatively provides value if the criteria is False. The “IF”function is regarded as the build-in function that is held as logical function. The below statedfigure provides an example of “IF” function.
Accounting System and Process - Doc_4

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