ACC566: Accounting System, Process, and Financial Decisions Report

This report provides a comprehensive analysis of accounting systems and processes, covering spreadsheet functions, inventory management, bank reconciliation, and bad debt management. It includes examples of SUM, IF, and Chart functions in spreadsheets, along with a demonstration of the VLOOKUP function. The report contrasts perpetual and periodic inventory systems, analyzes LIFO, FIFO, and average costing methods, and recommends the perpetual method for Bike World. It also addresses bank reconciliation issues and examines the bad debt management practices of a2 Milk Company, including ratio analysis to assess the company's financial health and sustainability. The analysis suggests that a2 Milk Company improved its financial position from 2015 to 2016 and is sustainable for the long term, advising investment with a focus on expense minimization and sales growth.