Accounting Systems and Processes - ACC101 Assignment, Semester 1, Uni

This comprehensive accounting assignment solution covers various aspects of accounting systems and processes. It addresses plagiarism issues, demonstrates methods for pasting spreadsheets, and provides links to useful online accounting resources. The assignment includes explanations of professional accounting bodies, a work-integrated assessment reflecting practical experience, and an analysis of the ABC Learning case study, highlighting ethical considerations and financial statement manipulation. It also includes exercises on the balance sheet equation, debit and credit balances, trial balances (including a crossword puzzle), adjusting entries, current and non-current liabilities, and financial ratios. Finally, it presents examples of worksheets and financial reports, including income statements and balance sheets, demonstrating the impact of different changes. References are also provided.

Running head: ACCOUNTING SYSTEMS AND PROCESSES
Subject Code:
Subject Name: Accounting Systems and Processes
Student Name:
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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: (Plagiarism)..................................................................................................................2
Question 2: (Pasting spreadsheets in doc files)...............................................................................2
Question 3: (Accounting resources on the Internet)........................................................................3
Question 4: (Professional accounting bodies).................................................................................3
Question 5: (Work Integrated Assessment).....................................................................................3
Question 6: (ABC Learning and ethics - ABC Learning Case Study)............................................4
Question 7: (PALER)......................................................................................................................5
Question 8: (Balance Sheet Equation).............................................................................................8
Question 9: (Debit and credit balances)...........................................................................................9
Question 10: (Trial balance)............................................................................................................9
Question 11: (Crossword)..............................................................................................................11
Question 12: (Types of adjusting entries)......................................................................................12
Question 13: (Current and non-current liabilities).........................................................................13
Question 14: (Ratios).....................................................................................................................13
Question 15: (Worksheet and financial reports)............................................................................14
References and Bibliography:........................................................................................................19
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ACCOUNTING SYSTEMS AND PROCESSES
Question 1: (Plagiarism)
One of the unethical dilemma’s, which is faced by the academic world, is the plagiarism
issues that directly affect honest students work. Plagiarism is identified, as one of the major
crimes in the academic world, which destroys careers of students, as well as professors.
Anderson (2016) mentioned that with the help of plagiarism checker academic institutions are
able to support honest students for their hard work and capabilities.
Question 2: (Pasting spreadsheets in doc files)
With the help of below figure two different types of method that might be used for
pasting excel document in word is adequately depicted.
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Question 3: (Accounting resources on the Internet)
URLS Explanation
https://
www.cpaaustralia.com.
au
The organisation mainly focuses in improving skills of accountants
and allows them to smoothly conduct the accounting process.
http://
indigenousaccountants.
com.au
The organisations aims are to provide new information to
accountants and motivate them, so that they could smoothly
conduct operations.
https://
www.charteredaccount
antsanz.com
The organisation aims in providing relevant reported to charter
accountants, which could help in improving the accounting
principles that affect the financial report.
http://
www.accountantsaustra
lia.com.au
Accountants Australia aims in providing financial solution to
accountants for improving performance of their organisation..
Question 4: (Professional accounting bodies)
The major accounting body that is currently present in Australia is Institute of Chartered
Accountant Australia, whose main aim is to provide help to accounting professionals. The
accounting body also educates new account and teaches them all the relevant accounting
principles, which could be utilized in an organization.
Question 5: (Work Integrated Assessment)
Previously I used to work for the Finance Department of a manufacturing company, who
provided 2 to 3 distinguish products. The overall technological used in the finance department
was not up to the mark, where maximum of the work was conducted manually. In addition, the
company only allowed 5 computer systems, which was not sufficient to support its overall
financing and recording activities. The company used the same old method of bookkeeping
where ledgers were kept to conduct different records. However, the company was not using
adequate computer services, which could help in improving its Accounting services. The
outdated ledger system was not allowed in the organisation to improve its operational feasibility
by using different types of accounting measure.
If the company adopted new technologies for accounting department, it could have
allowed the financial team to provide relevant measures for reducing the excessive expenditure
on its manufacture. The use of Sage accounting software and I7 computers could have boosted
capability of the financial team to perform better and provide better results. Hence, it could be
understood that due to the low technological advancement in the financial department, the
organisation was not able to fully utilizes resources and identify relevant loopholes.
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ACCOUNTING SYSTEMS AND PROCESSES
Question 6: (ABC Learning and ethics - ABC Learning Case Study)
ABC learning case study mainly portrays the fraud and Manipulating activities that was
conducted by the company to hide its arising losses. the company directly inflated is financial
statement by using higher intangible assets which helped in maintaining the interest of its
investors. Moreover, evaluation of the ABC learning case study eventually help in understanding
the unethical measures that was taken by the organisation in formulating its financial report.
After the evaluation, income statement, cash flow statement, and balance sheet is
identified as the major financial report that need to be prepared by every organisation. with use
of cash flow account organisations are able to detect all the cash transactions conducted within
the fiscal year. Moreover, balance sheet allows organisation to depict the actual financial
condition and position during the fiscal year. Lastly, the use of income statement allows
organisations to depict the actual net profits and expenses conducted during the fiscal year.
After the evaluation of ABC case, it is understood that the organisation mainly
manipulated the intangible assets and inflated its financial account. Moreover from the valuation
return also understood that the company was not able to maintain the required current assets
support it short term obligation. Furthermore, it has been identified that it was not generating the
required cash to support its activities. The combination of the problems mainly increased and
reduced the company's solvency condition. Financial report manipulation was mainly conducted
to alter the perception of investors and acquire more capital for the business.
The relevant unethical issues that are seen from the evaluation of ABC case study.
 ABC learning for the accused of outer ring wrong information and its financial report,
which mislead the investor into investing in the company.
 The management of ABC learning directly inflated its intangible assets for increasing the
total access in the financial, which in turn helped in improving its solvency condition.
 Lastly, ABC learning was involved in manipulations in its margins, were irregularities
are found in its financial report.
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Question 7: (PALER)
Financial Statement (Normal View):
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Financial Statement (Formula View):
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The overall owner’s drawings were at 16,800.
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Question 8: (Balance Sheet Equation)
Normal View (Balance Sheet):
Formula View (Balance Sheet):
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ACCOUNTING SYSTEMS AND PROCESSES
Question 9: (Debit and credit balances)
The credit balances are identified as liabilities, shareholder equity, profits, account
revenues, and sales. Moreover, the debit balances are identified as losses, drawings, assets,
expenses, and salaries (Brown et al., 2013).
Question 10: (Trial balance)
Trial Balance (Normal View)
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Trial Balance (Formula View)
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Trial Balance with changes (Normal View)
Trial Balance with changes (Formula View)
Question 11: (Crossword)
Unsolved Puzzle:
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