Accounting System and Process: Detailed Homework Solution

This document presents a comprehensive solution to an accounting system and process assignment. It begins by addressing plagiarism, providing insights into its definition and implications. The solution then covers techniques for transferring data from Excel to Word, including various methods for preserving and formatting data. The assignment includes a list of relevant accounting websites. The case study analyzes ABC Learning, discussing its financial performance, ethical concerns, and the importance of financial statements like income statements and balance sheets. The solution also includes financial statements with normal and formula views. Furthermore, the document addresses trial balances, journal entries, liabilities (current and non-current), and key financial ratios like the current ratio and debt ratio. The assignment concludes with a complete reference list.

Running head: ACCOUNTING SYSTEM AND PROCESS
Accounting system and process
University Name
Student Name
Authors’ Note

2
ACCOUNTING SYSTEM AND PROCESS
Table of Contents
Accounting system and process.................................................................................................1
Answer to Question 1:................................................................................................................2
Answer to Question 2:................................................................................................................2
Answer to Question 3:................................................................................................................3
Answer to Question 4:................................................................................................................3
Answer to Question 5:................................................................................................................3
Answer to Question 6:................................................................................................................4
Answer to Question 7:................................................................................................................6
Answer to Question 8:..............................................................................................................10
Answer to Question 9:..............................................................................................................11
Answer to Question 10:............................................................................................................12
Answer to Question 11:............................................................................................................13
Answer to Question 12:............................................................................................................14
Answer to Question 13:............................................................................................................14
Answer to Question 14:............................................................................................................14
Answer to Question 15:............................................................................................................15
References................................................................................................................................19

3
ACCOUNTING SYSTEM AND PROCESS
Answer to Question 1:
It is can be said that plagiarism can be considered as an act of replication of a specific job of
an individual of identical views as self-ideas (Angélil-Carter, 2014). This necessarily occurs
at the time when a particular individual is not capable to provide just insight to some kind of
paper assortment from unique sources. However, it is necessarily for this cause, plagiarism
can be characterized as a bad action to diverse honest pupil.
Answer to Question 2:
It can be hereby mentioned that numerous techniques of changing specific data from specific
excel spreadsheet to a specific word document. However, the evidence presented in the
spreadsheet are sometimes saved as well as closed together with word document. Therefore,
sparing as well as sticking schemes are effective skills that can assist in carrying out the task.
Furthermore, the other exercises comprises of diverse information presented pictorially.
However, the excel spreadsheet is accurately duplicated after proper detection of a
comprehensive approach as well as a specific zone, selection of paste button also can be
selected (Lajoie & Derry, 2013).
Thereafter, user need to click on the term task of the specified site. However, this is essential
for insertion. Finally, the alternative of “paste special” need to be chosen from the edit list of
options and provided list of specific word. However, this sequentially helps in initiating a
totally novel window in this event (Lajoie & Derry, 2013). In this case, “paste radio” need to
be selected and thereafter “Microsoft Office Excel Worksheet Object” have the requirement
to be picked from the specified box mentioned “as”.

4
ACCOUNTING SYSTEM AND PROCESS
Answer to Question 3:
The following table mentions the name of four websites on accounting:
Answer to Question 4:
Particularly, “Association of Global Accountants” is referred to as an Australian corporation
that watch over professional accountancy. Essentially, the accounting corpse also delivers
monetary support along with funds in a bid to attain lessons in the field of accountancy
(Simkin et al., 2014). However, this particular association is also beneficial to industrialists as
this particular site of the industry offers authorisation to unequal monetarist declaration of
diverse sought-after companies (Patel, 2015).
Answer to Question 5:
My erstwhile place of work has a figuring environs since it maintained and preserved the
agile criterions. In essence, it can be referred to as learning association, however, I used to get
hold of the division of authorization and finish the administrative undertaking. This

5
ACCOUNTING SYSTEM AND PROCESS
association is liable for carrying out a wide variation of useful facilities to different
individuals and makes them skilful using different resolute studies. Along with this, there are
particular establishment that also offered me an office space that have electrical arrangement
for acquiring and holding all the data (Deegan, 2013). Besides this, I was also liable for
retaining certain valuable information in a particular file. The association also makes use of
different types of Microsoft Office programs. This specifically also comprise of outlook,
power point as well as publisher. Additionally, several accessories such as task lamp, mouse
rest as well as document holder are also delivered. Again, input devices of the corporation
have also been kept at a specific height (Bebbington et al., 2014).
Answer to Question 6:
According to the given case study on ABC Learning, it can be hereby said that the
corporation also had a stable but lethargic beginning during the time of inauguration of
operations. Essentially, the federal government also plays an important role during this
specific period. In essence, the treatment of media was effectual as the government bought
some of the centres. Therefore, ABC Learning also extended productivity globally. The
escalating value of asset helped in the raising the price of share of the corporation. However,
the base of debt also increased for financial inclusion. Then again, cash along with monetary
assertions were declared for the step of crumple. During the year 2008, ABC Learning led to
increase in liability due to greater amount of liability of dollar in association to equity having
value of 30 cents.
Again, the income statement of ABC as well as pledge of line reimbursement lead to
ineffective flow of cash and this decreased the overall amount of profit. In essence, this led to
weak financial situation. In this, realisation of revenue is illogical, therefore this leads to
inappropriate review.

6
ACCOUNTING SYSTEM AND PROCESS
The ethical concerns for which ABC Learning collapsed can be stated as follows:
- Occurrence of incaution in the process of accounting for particularly investment as
well as margin of loan
- During the period of stable financial condition, this specific corporation did not put
sufficient emphasis on generation of profit.
- The value of indefinable asset leads to intensification of the value of business.
- This firm also delivered incorrect information to different users of financial
declaration that ruined the faith of financiers and subsequently led to the downfall of
the business corporation.
Financial pronouncements of the corporation also includes declaration of income,
announcement of balance sheet of firm, and declaration of alterations in equity and assertion
of flow of cash (Kristensen & Israelsen, 2013). The statement of balance sheet also aids in
linking the liabilities with different assets of the corporate. Therefore, it is a necessary
financial declaration. Essentially, the announcement of income aids the managers of the
business to intensify gains, revenue from transactions along with expenditure in the specific
accounting period (Bebbington et al., 2014). In addition to this, the statement of cash flow
provides significant information about the investment, diverse operational as well as
pecuniary actions of the business firm. Finally, the change in the overall balance of capital
also assists to change the declaration of equity that alters. Subsequently, this directs towards
increase as well as decrease in the owners’ equity. Therefore, profit can be regarded as a vital
part of business. Thereafter, the overall operations of the business can be sustained
universally and this in turn might perhaps help in the process of effective functioning of the
corporation (Bebbington et al., 2014). Finally, flow of cash can be considered as another
risky aspect without which the functions of the business can be undertaken.

7
ACCOUNTING SYSTEM AND PROCESS
Answer to Question 7:
Presenting the Normal View: Declaration of income for the firm Bruce Design Studio -

8
ACCOUNTING SYSTEM AND PROCESS
Presenting the Formula View: Declaration of income for the firm Bruce Design Studio –
Presenting Normal View of diverse drawings of Shareholders of the firm and Balance sheet
of the firm Bruce Design Studio -

9
ACCOUNTING SYSTEM AND PROCESS

10
ACCOUNTING SYSTEM AND PROCESS
Presenting Formula View of diverse drawings of Shareholders of the firm and Balance sheet
of the firm Bruce Design Studio -

11
ACCOUNTING SYSTEM AND PROCESS
Answer to Question 8:
Presenting Normal View: Balance Sheet
Presenting Formula View: Balance Sheet -:

12
ACCOUNTING SYSTEM AND PROCESS
Answer to Question 9:

13
ACCOUNTING SYSTEM AND PROCESS
Answer to Question 10:
Presenting Normal View of Trial Balance:

14
ACCOUNTING SYSTEM AND PROCESS
Presenting Formula View: Trial Balance
Answer to Question 11:

15
ACCOUNTING SYSTEM AND PROCESS
Answer to Question 12:
Both delicate journal entries along with the adjusted entries at the end of the period is hereby
presented below:
Answer to Question 13:
In general, liabilities are regarded as obligations of a corporation particularly during the short
term period, particularly includes those repaid in a particular time period (Bebbington et al.,
2014). Contrarily, then non-current obligations depict the responsibility regarding the debt
settlement during a specific period (Drury, 2013). For instance, a corporation need to be
settled with 5 years to around 15 years. However, current liabilities also occur in different
forms that comprise of leases of long term, borrowings for a long period of time, debentures
along with deferred reimbursement (Hoffjan et al., 2014).
Answer to Question 14:
Current ratio is considered as ability of a specific firm with regard to discharging and settling
different liabilities of short term period (Simkin et al., 2014). This is essentially enumerated
by means of different divisions of current liabilities as well as current assets.

16
ACCOUNTING SYSTEM AND PROCESS
As rightly stated by Deegan (2013), debt ratio can be regarded as the process of
comprehending the condition of solvency of the firm. This also helps in appraising the level
of debt of the firm and helps in evaluating diverse monetary risks that are associated to the
business operations of the corporation (Shevelev et al., 2017).
Answer to Question 15:

17
ACCOUNTING SYSTEM AND PROCESS

18
ACCOUNTING SYSTEM AND PROCESS

19
ACCOUNTING SYSTEM AND PROCESS

20
ACCOUNTING SYSTEM AND PROCESS
References
Angélil-Carter, S. (2014). Stolen language?: Plagiarism in writing. Routledge.
Bebbington, J., Unerman, J., & O'Dwyer, B. (Eds.). (2014). Sustainability accounting and
accountability. Routledge.
Deegan, C. (2013). Financial accounting theory. McGraw-Hill Education Australia.
DRURY, C. M. (2013). Management and cost accounting. Springer.
Hoffjan, A., Weide, G., & Trapp, R. (2014). Impact of an integrated accounting system on
managerial information provision-an empirical analysis. Betriebswirtschaftliche
Forschung Und Praxis, 66(2), 192-219.
Kristensen, T. B., & Israelsen, P. (2013). Management accounting system problems in
context of Lean. The Routledge Companion to Cost Management, 32.
Lajoie, S. P., & Derry, S. J. (Eds.). (2013). Computers as cognitive tools. Routledge.
Patel, S. (2015). Effects of accounting information system on Organizational Profitability.
International Journal of Research and Analytical Reviews, 2(1), 72-76.
Shevelev, A. E., Sheveleva, E. V., & Gvozdev, M. Y. (2017). Methods of internal control in
integrated management accounting system of the enterprise. In SHS Web of
Conferences (Vol. 35, p. 01115). EDP Sciences.
Simkin, M. G., Norman, C. S., & Rose, J. M. (2014). Core concepts of accounting
information systems. John Wiley & Sons.

21
ACCOUNTING SYSTEM AND PROCESS