Accounting Information Systems Analysis
Added on 2020-02-05
20 Pages3560 Words51 Views
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ACCOUNTING SYSTEMAND PRACTICE
Table of ContentsINTRODUCTION...........................................................................................................................4Question 1........................................................................................................................................4Naming cells in spreadsheets.......................................................................................................4Question 2........................................................................................................................................4Negative numbers........................................................................................................................4Question 3........................................................................................................................................4Separation of data and report areas..............................................................................................4Question 4........................................................................................................................................5IF Functions.................................................................................................................................5Question 5........................................................................................................................................6Spreadsheet apps..........................................................................................................................6Question 6........................................................................................................................................6Perpetual versus periodic systems...............................................................................................6Question 7........................................................................................................................................7Journal entries..............................................................................................................................7Question 8........................................................................................................................................7Worksheets and financial reports.................................................................................................7Question 9........................................................................................................................................9Accounting principles..................................................................................................................9Question 10......................................................................................................................................9Inventory flow assumptions.........................................................................................................9Question 11......................................................................................................................................9Application of inventory flow assumptions.................................................................................9Question 12....................................................................................................................................10Internal control issues................................................................................................................10Question 13....................................................................................................................................10Bank Reconciliation...................................................................................................................10Question 14....................................................................................................................................12Journalising accounts receivable...............................................................................................12Question 15....................................................................................................................................12Estimating Bad debts.................................................................................................................122
Question 16....................................................................................................................................13Evaluation of firm's financial position.......................................................................................13Question 17....................................................................................................................................13Percentage of sales method........................................................................................................13Question 18....................................................................................................................................14Dishonor of a note receivable....................................................................................................14Question 19....................................................................................................................................15Account classification................................................................................................................15Question 20....................................................................................................................................15Work integrated assessment case study.....................................................................................151. Application of balance scorecard in Qantas..........................................................................152. Executives paid in 2015.........................................................................................................163. Expertise bring by Todd Sampson to board of directors.......................................................164. Explain Revenue Seat Factor, EBITDA, Revenue received in advance and RetainedEarnings.....................................................................................................................................165. Calculate working capital ratio..............................................................................................166. Column and pie chart of Qantas............................................................................................177. Recommendations to board for making investment decision................................................18CONCLUSION..............................................................................................................................18REFERENCES..............................................................................................................................193
INTRODUCTIONAccounting scope has increases with the passage of time as the external market willcreate burden on the business. The modern accounting will get simplified by using excel andspreadsheet functions.QUESTION 1Naming cells in spreadsheetsIllustration 1: Formula viewSalesVariable costContribution#VALUE!The cells are referenced with the names rather than references of cells to help the users inorder to interpret the results (Mancini, Dameri & Bonollo, 2016). The traditional practice ofexcel has changed in which the cell references are used which created confusion among the usersin interpreting the results. The use of names in the formula will help in understanding the resultscarefully in order to ensure the achievement of goals and the objectives.QUESTION 2Negative numbersSales100000Variable cost50000Contribution50000QUESTION 3Separation of data and report areasThe spreadsheets are used by an entity owner in order to perform strong calculations inspontaneous way to facilitate its users (Seckin, 2016). The use of spreadsheets will be beneficialfor the business entity as it cater the information needs of all individuals. The preparation ofspreadsheets will save time and energy of an individual by recording each and every transactions4
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