Accounting Systems and Processes: Assignment Solutions & Analysis

This document presents a comprehensive solution to an accounting systems and processes assignment. The assignment addresses key concepts such as plagiarism in academia, methods for copying data between Excel and Word, and a review of accounting-related websites. It also explores the role of accounting institutes in Australia and the impact of computing systems on a tourism company's operations. A significant portion of the assignment is dedicated to analyzing the ABC learning case, examining unethical accounting practices, financial statement manipulation, and the consequences of poor financial management. The solution includes detailed financial statements, trial balances, and journal entries, along with explanations of deferred revenue, accrued expenses, and current ratios. The document concludes with a ten-column worksheet and relevant references.

Running head: ACCOUNTING SYSTEMS AND PROCESSES
Subject Code:
Subject Name: Accounting Systems and Processes
Student Name:
Student ID Number:
Assignment Task Number: 1
List of Questions Attempted: 15
List of Questions Not Attempted: 0
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ACCOUNTING SYSTEMS AND PROCESSES
Table of Contents
Question 1:.......................................................................................................................................2
Question 2:.......................................................................................................................................2
Question 3:.......................................................................................................................................2
Question 4:.......................................................................................................................................3
Question 5:.......................................................................................................................................3
Question 6:.......................................................................................................................................3
Question 7:.......................................................................................................................................5
Question 8:.......................................................................................................................................8
Question 9:.......................................................................................................................................9
Question 10:.....................................................................................................................................9
Question 11:...................................................................................................................................12
Question 12:...................................................................................................................................13
Question 13:...................................................................................................................................14
Question 14:...................................................................................................................................14
Question 15:...................................................................................................................................14
References and Bibliography:........................................................................................................20
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Question 1:
In the academic world Plagiarism is mainly identified as one of the unethical behavior
that is conducted by an individual. There are strict rules regarding plagiarism which is conducted
by students, professors and other institutional level person. If Plagiarism is found on works of
published individuals, they are mainly stripped of the credentials. On the other hand if Plagiarism
is conducted by students then they are marked failed, as work of honest students are hampered
due to plagiarism. Ferrero, Agnes, Besacier & Schwab (2017) argued that plagiarism is one of
the deadliest leeches, which is hampering progress of the academic world and students.
Question 2:
The above figure mainly represents the different ways in which excel file could be pasted
in the word document. These two methods have been used by individuals for copying relevant
data from excel to word document.
Question 3:
URLS Explanation
http://
indigenousaccountants.
The indigenous accountants mainly aim in motivating the new
individuals, who are becoming account. These also provide
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com.au relevant information regarding different accounting principles,
which could be used in their workplace.
https://
www.cpaaustralia.com.
au
CPA Australia mainly aims in improving the account skills, which
could help them in their workplace.
https://
www.charteredaccount
antsanz.com
The overall charted accountant ANZ mainly aims in providing
different information regarding accounting principles to accounts
for smoothing their operations.
http://
www.accountantsaustra
lia.com.au
The accounts Australia mainly aims in providing different types of
financial solution to the accounts for improving performance of the
organisation.
Question 4:
Australia has its own Institute which governs the overall Accounting Principles and
imposes the regulations on company. This Institute is mainly known as Chartered Accountant of
Australia, which provides different regulations and principles of accounts that is needed by
organisations to draft their financial report. Name of the institute is mainly to provide relevant
information to different individuals and professionals regarding Accounting Principles that could
be used by them.
Question 5:
Currently, I am working in a tourism company, which provides different types of tickets
and holiday packages to customer. The organisation currently maintained i3 processors in their
computer system, which is allowed them to smoothly work and generate the required
productivity. However improvement to the i7 processors could eventually allow the tourism
company to book more services simultaneously with the help of the computers. The company
currently also owns a networking grid, which helps in seamlessly providing services to the
customer. This networking grade allows your organisation to smoothly operate the website that is
used in booking purposes. Nevertheless the current Computing system of the organisation is
relatively adequate, as it allows the executives and employees to smoothly conduct business
operation. This high end computing system allows the tourism company 2 increases productivity
by reaching out to more customers at shorter span of time. However, improving the current
computing system could also allow the organisation to boost its operations further, as it will
allow them to conduct different bookings simultaneously without any hindrance.
Question 6:
After the analysis of ABC learning case, relevant measures that were taken by the
organisation can be identified. These measures were unethical in nature, which violated different
types of accounting principles and legislations. The violation of the accounting principles
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directly imposed different types of fines on the organisation. The analysis also helped in
identifying the manipulation that was conducted by the organisation on its intangible assets,
where balance sheet was inflated to portray are strengthened financial report. the analysis also
helped in enlightening the major problems that was faced by the organisation due to rapid
expansion and debt accumulation.
Currently organisations force to provide 3 different types of financial reports, which are
income statement, balance sheet, and cash flow statement in the annual report. With the help of
income statement organisations are mainly able to provide relative sales, expenses and net profit
that has been attained in the fiscal year. Moreover, balance sheet allows the organisation to
portray the financial stability, total assets and total liabilities that is attained by the organisation
in that fiscal year. Furthermore, with the help of cash flow statement organisations are able to
portray the cash transactions conducted in the fiscal year.
ABC case study mainly helps in identifying the unethical measures that was conducted by the
management of the organisation. The management have directly inflated the current and
noncurrent assets to hide the fact that they have become insolvent. Furthermore, the organisation
to hide its insolvency inflated the intangible assets such as goodwill and licence, which was
enlisted in the annual report. The analysis of the ABC case study also helps in identifying the
relevant problems that was faced by the organisation before its insolvency. The management had
taken wrong decisions, which increased the overall debt and interest payments. The company
was also misstating the income statement, which portrayed and increment in the overall profit of
the organisation. However due to insolvency conditions the company was not able to with old all
its activities, which led to the liquidation of the organisation.
The different types of ethical issues that were identified from the case study are depicted as
follows.
 The first ethical issue was the false information that was provided by ABC organisation to
with investors, which helped in boosting its share price and risking the capital of investor.
 The second ethical issue was identified as the manipulation so that was conducted by the
organisation in margins, which directly inflated the financial reports and hid the irregularities
in the income.
 The third ethical issue that was identified from the case study was the inflation of intangible
assets such as goodwill and licence.
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Question 7:
Normal View of the Financial Statement:
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Formula View of the financial Statement:
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Drawings of the owner mainly stand at 16,800.
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Question 8:
Balance Sheet with the Normal view
Balance Sheet of the Formula View
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Question 9:
The nominal debt balance accounts are ash account, receivables, inventory, prepaid
expenses, building, losses and salaries, whereas the nominal credit balance are liability accounts,
equity accounts, revenue accounts, account revenues, sales, and shareholders’ equity.
Question 10:
Normal View of the Trial Balance
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Formula View of the Trial Balance
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Normal View of the Trial Balance with relevant changes
Formula View of the Trial Balance with relevant changes
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