logo

ACC Systems and Processes | Report

   

Added on  2020-02-24

13 Pages2170 Words53 Views
Student name:Student ID number:Assignment task number: 2Subject code and name:THIS IS MY OWN WORK, AND HASN’T BEEN PLAGIARISED with all the sourcesbeen acknowledged

Table of ContentsQ1................................................................................................................................................3Q2................................................................................................................................................3Q3................................................................................................................................................3Q4................................................................................................................................................4Q5................................................................................................................................................4Q6................................................................................................................................................5C..................................................................................................................................................8Q7................................................................................................................................................8Q8 Bank Reconciliation..............................................................................................................8Q9................................................................................................................................................9Q10..............................................................................................................................................9Q11............................................................................................................................................10Q12............................................................................................................................................10Q13............................................................................................................................................11Wesfarmers Annual Report 2016..............................................................................................11References.................................................................................................................................13

Q1.It is simpler to replace the cell reference with any name so that the work becomes easy, simpleand fast. For this replacement the name box can be utilised. The formula bar's left side is forname box. The user can simply understand with the name and file becomes simple (Szulewski,2016). Any cell, table and function can be given a name. These named cells can be simplyupdated, reviewed or managed.Eg: excel attachedQ2 The negative numerals can be marked in red, red brackets, negative symbol etc. The choice canbe made by using the option of "format cells", and there is even a choice of using decimals(Brennan, 2016). The signs can depend on the appearance needed by the user, content needed bythe user, option to be utilized, ease of use etc. For example, the excel spreadsheet has beenattached.Q3 An accountant has to create a separate reported spreadsheet for avoiding the "black box effect”as the person who creates the spreadsheet is aware of its workings and must have the capacity tochange it in the right manner (Alfian, 2013). The data doesn't get manipulated if the differentsheets are used for graphs and data presentation. This way there would be less errors andimproved decisions. Its example has been attached.

Q4The link for YouTube instance utilized to give details of ‘IF statement’ is https://www.youtube.com/watch?v=fcROq683zSE ("Excel if function", 2017)The "IF statement" is one which creates Logic where the result is based on specific criteria andits happening or not happening. The attached file shows how the statement has been applied tothe columnD where it has been seen that all the payments of commissions which are more than$40,000 have been already paid and those with lesser commission are yet to be paid. This ishelpful for the management to keep the data and set the criteria appropriately.Salesperson Sales ($)CommissionPayment statusRoger200,000.00$ 20,000.00$ yet to be paidAlina352,000.00$ 35,200.00$ yet to be paidPaul652,456.00$ 97,868.40$ paidDiana256,712.00$ 25,671.20$ yet to be paidSteve752,683.00$ 112,902.45$ paidQ5 The periodic inventory system, just updates the ending inventory balance for the general ledgerwhen the physical inventory counting is carried out. As the physical inventory cannot becounted every time and it takes a huge time, some businesses carried out this once in a quarter ora year. And until that counting happens, the accounting system shows the cost of inventory thathad been there in the last counting. Till then all the purchases are captured in the purchasesaccount and once counting just got it out this balance his move into inventory account formatching the cost of ending stock (Research Conference on the Changing Roles of ManagementAccounting as a Control System, 2014). For example a seller would keep a record of sales every

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Report on Application of Advanced Functions of Excel
|18
|2092
|39

Accounting Systems & Processes
|25
|1311
|33

Accounting and Information System
|19
|2393
|482

Accounting Systems & Processes Assignment
|29
|2058
|36

Assignment of Accounting Systems and Processes
|25
|1450
|36