Accounting Systems and Processes - RMIT University Assignment 1

This assignment solution provides a detailed response to various questions related to accounting systems and processes. It begins by addressing plagiarism and methods of pasting spreadsheets. The solution then explores accounting resources, professional accounting bodies, and work-integrated assessment experiences. A significant portion of the document analyzes the ABC Learning case study, focusing on ethical issues and financial manipulations. The assignment further covers fundamental accounting concepts, including the balance sheet equation, debit and credit balances, trial balances, and crossword puzzles. It details different types of adjusting entries, current and non-current liabilities, and financial ratios. Finally, the solution includes comprehensive worksheets and financial reports, offering both normal and formula views, along with adjustments to demonstrate profit and loss calculations. The document incorporates relevant references and a bibliography to support its analysis.

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
Q 1: Plagiarism................................................................................................................................2
Q2: Pasting spreadsheets in doc files...............................................................................................2
Q3: Accounting resources on the Internet.......................................................................................3
Q4: Professional accounting bodies.................................................................................................3
Q5: Work Integrated Assessment....................................................................................................3
Q6: ABC Learning and ethics - ABC Learning Case Study...........................................................4
Q7: PALER......................................................................................................................................5
Q8: Balance Sheet Equation............................................................................................................8
Q9: Debit and credit balances..........................................................................................................9
Q10: Trial balance...........................................................................................................................9
Q11: Crossword.............................................................................................................................11
Q12: Types of adjusting entries.....................................................................................................12
Q13: Current and non-current liabilities........................................................................................13
Q14: Ratios....................................................................................................................................14
Q15: Worksheet and financial reports...........................................................................................14
References and Bibliography:........................................................................................................20
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Q 1: Plagiarism
Plagiarism is mainly identified, as one of the unethical activities conducted by students or
individuals to claim work of others as their own. Moreover, plagiarism is considered a dishonest
action that is taken by students against honest students. The hard work of honest students mainly
loses their value, as dishonest students use copied material. Plagiarism checker is one of the
viable software that helps in segregating the works of dishonest students with honest students
(Angelil-Carter, 2014).
Q2: Pasting spreadsheets in doc files
The bellow figure mainly helps in identifying the two method, which could be used by
individuals to paste data from excel sheet to word.
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Q3: Accounting resources on the Internet
URLS Explanation
http://
www.accountantsaustra
lia.com.au
The Accountants Australia provides financial solutions, which help
business to improve its financial performance
http://
indigenousaccountants.
com.au
This firm mainly motivates new accountants and provides them
with relevant new information.
https://
www.charteredaccount
antsanz.com
Charted accountants are provided relevant reports concerning
accounting principles that affect financial report
https://
www.cpaaustralia.com.
au
This company mainly helps in improving skills of accountants,
which in turn smoothes the accounting process.
Q4: Professional accounting bodies
Institute of Chartered Accountant Australia is mainly identified, as one of the adequate
accounting body present in Australia. Moreover, the accounting body adequately provides
relevant support to accounting professionals regarding relevant accounting principles. The
accounting bodies mainly aim is to educate accountants, which could help the financing
capability of different organizations.
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Q5: Work Integrated Assessment
I mainly faced the computing related problems in my previous job, where the system was
not adequate to support the job activities. The company operated in accounting related services,
which was provided to other companies. The computing system was relevantly adequate, where
latest technology was used by the organisation to count its operations, Furthermore, the latest
accounting system was also used by the organisation, which improved performance of the
workforce. The firms provide the relevant services to its customers used accounting software,
such as Sage for competing relevant transactions. Moreover, the company used latest hardware
computing such as I7 processors to conduct relevant services to its customers. Moreover, the
organisation used relevant accounting software to identify relevant cost cutting measures, which
could help in improving profitability of its organisations. The work-integrated assessment could
eventually allow the organisation to improve its current operational capability and provide
between services to its customers by applying high-end technology.
Q6: ABC Learning and ethics - ABC Learning Case Study
After the evaluation of the overall ABC learning case study, mainly helps in
understanding the fraud, which was conducted by the organisation. Furthermore, the case study
also helps in understanding the relevant manipulations, which was conducted by the company to
inflate its financial report. Moreover, the evaluation mainly helps in understanding the problems
that might be faced by organisation, while manipulating their financial report.
The major financial reports that need to be prepared by organisation are balance sheet,
income statement, and cash flow statement. The main purpose of income statement is to record
all the relevant transactions and provide actual profitability of the organisation. Furthermore, the
cash flow statement is mainly used in recording all the relevant cash transactions of the
organisation conducted during the fiscal year. Lastly, the overall balance sheet is statement
conducted to identify the relevant assets and liability of the company.
The evaluation of ABC case mainly helps in understanding the maintenance of adequate
current assets, which could reduce the chance of liquidations. The manipulation that was
conducted by ABC learning mainly restricted its ability to generate the required cash to support
its activities. Moreover, the company did not have positive profits, which declined its ability to
support the required profitability. The company mainly manipulated the intangible assets for
increasing the overall assets, which portrayed a positive solvency condition. However, this
manipulation mainly reduce ability of the company to supports its operations and generate the
required profitability for attaining sustainable growth.
The main ethical issues that could be identified from the evaluation of the ABC Learning
case study are depicted as follows.
 ABC Learning has directly inflated its intangibles assets for increasing their total assets
in financial report.
 Furthermore, ABC Learning was involved in the manipulations of margins, which
increased irregularities in the financial account.
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 Lastly, ABC Learning was also accused for providing wrong information to its investors
regarding its current financial condition.
Q7: PALER
Normal View (Financial Statement):
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Formula View (Financial Statement):
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From the overall evaluation, drawings were at 16,800.
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Q8: Balance Sheet Equation
Balance Sheet (Normal View)
Balance Sheet (Formula View)
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Q9: Debit and credit balances
The nominal debt balance accounts are drawings, expenses, assets, losses and salaries,
whereas the nominal credit balance are profits, liabilities, account revenues, sales, and
shareholders’ equity (Bebbington, Unerman, & O'Dwyer, 2014).
Q10: Trial balance
Normal View (Trial Balance)
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Formula View (Trial Balance)
Normal View (Trial Balance with changes)
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Formula View (Trial Balance with changes)
Q11: Crossword
Unsolved Puzzle:
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