Accounting System and Process: Spreadsheet and VLOOKUP Function, Inventory Management, Bank Reconciliation, Bad Debt Management and Financial Decisions

Running head: ACCOUNTING SYSTEM AND PROCESS
Accounting system and process
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ACCOUNTING SYSTEM AND PROCESS
Table of Contents
Part A.......................................................................................................................................................................2
Answer 1 – spreadsheet function........................................................................................................................2
Answer 2 – VLOOKUP function........................................................................................................................7
References.........................................................................................................................................................10
Part B – Inventory management............................................................................................................................11
Part C – Bank reconciliation.................................................................................................................................19
Reference...........................................................................................................................................................22
Part D – bad debt management and financial decisions........................................................................................23
Executive summary...........................................................................................................................................23
Introduction.......................................................................................................................................................23
Discussion.........................................................................................................................................................23
Conclusive note for sustainability.....................................................................................................................24
Reference...........................................................................................................................................................25
References.............................................................................................................................................................26
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ACCOUNTING SYSTEM AND PROCESS
Part A
Answer 1 – spreadsheet function
Three spreadsheet functions are as follows –
 SUM function – the SUM function is one of the math functions that add values. Individual values cell
references, ranges or mix of all three can be added to excel spread sheet (Hutchinson, 2017).
For example if values from cell B5 to B8 is to be added it will be formulated as SUM(B5:B8)
Example
Normal view –
Formula view –
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ACCOUNTING SYSTEM AND PROCESS
 IF function – IF function is one of most popular excel function that allows to make logical comparisons
among the value and the expectation. IF function has 2 results – (i) 1st result is if the comparison is
TRUE and (ii) 2nd result is if the comparison is FALSE. It is formulated as “IF(Logical_test,
[value_if_true], [value_if_false]” (Hutchinson, 2017).
Example – in the below presented spreadsheet it is showing that if sales revenue is greater than total
expenses, show profit or else loss.
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ACCOUNTING SYSTEM AND PROCESS
Formula view –
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ACCOUNTING SYSTEM AND PROCESS
 Chart function – chart in excel can be used to determine the trends or compare various items. For
inserting the chart, cells areas with column title and rows labels shall be selected and then from insert
tab click on the chart type from drop down menu and the selected chart will be inserted in the sheet
(Hutchinson, 2017).
Example – in the below presented chart column chart has been used for the data presented in cell B2 to E7
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