FNS40615 - Assessment 1: Set up and operate a computerized accounting system

RAJAT VERMA ID: 1458915 25 July 2018
FNS40615 – ASSESSMENT 1
ASSESSMENT
Qualification: FNS40615 Certificate IV in Accounting
Unit of Competency: FNSACC406 Set up and operate a computerised
accounting system
Student Name:
Student ID:
Assessment Due
Date:
FNSACC406 Set up and operate a computerized accounting system Page 1

RAJAT VERMA ID: 1458915 25 July 2018
Contents
Assessment 1............................................................................................................................................3
1. Describe the basic steps that you will take to implement integrated accounting systems.. 3
2. How would you process the transactions within the system...................................................3
3. What steps you would take to maintain computerized accounting systems.........................4
4. Explain the steps needed to produce reports for computerized accounting systems..........4
5. Describe the steps that you would take to ensure computerized accounting systems
integrity...................................................................................................................................................5
6. What is a chart of accounts.........................................................................................................5
7. Describe what accounting reports are. Give two examples....................................................6
8. What does the term store means................................................................................................7
9. When designing your Chart of accounts, which one of the following selection of accounts
would all correctly have Cost of Goods Sold as the Account Type................................................7
10. MYOB software produces tax invoices that comply with Australian legislation. Hence, in
order to make sure your invoices meet legal requirements, you need to meet the following:....7
11. Every month the bank debits your bank account for your motor vehicle lease. What’s the
best way to record this transaction in MYOB....................................................................................7
12. You’re setting up a customer card in MYOB and know that in the future, you’re going to
use MYOB’s mail-merge features. You have a customer whose name is John Saunders, and
you know this customer personally. What should you enter in the Salutation field for this
customer................................................................................................................................................8
13. Discussion Question......................................................................................................................9
Introduction............................................................................................................................................9
Content...................................................................................................................................................9
Conclusion.............................................................................................................................................9
References..............................................................................................................................................10
FNSACC406 Set up and operate a computerized accounting system Page 2

RAJAT VERMA ID: 1458915 25 July 2018
Assessment 1
1. Describe the basic steps that you will take to implement integrated
accounting systems.
The implementation of integrated accounting systems involves various steps such as:
 Analyze the plan by reviewing the business requirements and the processes and
then mapping it into the proper business plan (Buckwalter, et. al., 2012).
 The next step is to build the pilot system by the implementation team and then
validating the business plan in detail.
 The training is provided to the staff members for its operations and then testing
the results and accepting it.
 The implementation of the accounting systems is done so that final transition can
be done (Buckwalter, et. al., 2012).
 The ongoing support needs to be provided by the technology partner.
2. How would you process the transactions within the system.
Image: Processing of Data
Source: By Author
FNSACC406 Set up and operate a computerized accounting system Page 3
Data
Entry
Transaction
Processing
Database
Maintenance
Document
and Report
Generation
Inquiry
Processing