Accounting Systems and Processes Assignment - Course Code, University

This accounting assignment solution addresses various aspects of accounting systems and processes. It begins by defining plagiarism and its impact. The solution then details methods for integrating Excel spreadsheets into Word documents, including both normal and formula views. It lists relevant accounting websites like AASB, IFRS, and ATO. The assignment also covers professional accounting organizations, work-integrated assessment experiences, and a case study on ABC Learning, highlighting ethical issues and financial statement analysis. The solution further provides a breakdown of account types, prepares an income statement and balance sheet, and demonstrates the balance sheet equation with different cases. The document also contains excel formulas for the balance sheet equation.

Running head: ACCOUNTS SYSTEMS & PROCESS
Accounting System & Process
Name of the Student:-
Name of the University:-
Author’s Note:-

1ACCOUNTING SYSTEM & PROCESS

2ACCOUNTING SYSTEM & PROCESS
Table of Contents
Q 1:..................................................................................................................................................4
Q 2:..................................................................................................................................................4
Q 3:..................................................................................................................................................8
Q 4:..................................................................................................................................................9
Q 5:................................................................................................................................................10
Q 6:................................................................................................................................................11
Q 7:................................................................................................................................................12
Requirement 1:...........................................................................................................................12
Requirement 2:...........................................................................................................................13
Requirement 3:...........................................................................................................................14
Requirement 4:...........................................................................................................................14
Q 8:................................................................................................................................................16
Q 9:................................................................................................................................................17
Q 10:..............................................................................................................................................17
Q 12:..............................................................................................................................................19
Q 13:..............................................................................................................................................20
Q 14:..............................................................................................................................................20
Q 15:..............................................................................................................................................21
Reference & Bibliography:............................................................................................................29

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4ACCOUNTING SYSTEM & PROCESS
Q 1:
Plagiarism can be defined as the process of copying the ideas of others and describing the
idea with same words, used in the original source, without giving proper credit to it. The honest
students often get deprived due to the plagiarism. Many students use to copy others’ assignments
without changing a single word and get higher marks. On the other hand, the honest students
complete the assignments by fair means but may not such high marks. In such scenario, the
student, who has not studied the subject at all and given any effort, would get more advantage
than the honest student, who has worked hard to complete the assignment. Hence, plagiarism is
considered as one of the unfair ways to deprive honest students.
Q 2:
The computer spreadsheet, for example, Excel sheets can be copied and pasted in the
word documents through various methods. However, there are two most widely-used methods of
pasting excel sheets are described below:
1) Simple Pasting Method:
The steps of simple pasting method are stated below:
- Selection of the excel sheet along with the row and column headings
- Right click of mouse and select paste or press Ctrl+C in keyboard
- In the word file, right click of mouse and select paste or press Ctrl+V in keyboard

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2) Pasting in Image Method:
Under this method, the excel sheets are pasted in the word documents as images instead
of tables. The steps are as follows:
- Selection of the excel sheet along with the row and column headings
- Right click of mouse and select paste or press Ctrl+C in keyboard
- In the word file, press Alt+E+S in keyboard and select Picture

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The two methods are applicable for both normal view and formula view. The examples
are given below:
1) Normal View:
a) First Method:
Student Name:
Income Statement
for the month ended 31 July 2017
$
INCOME
Revenue from Sales 100600
Revenue from Service 20000
TOTAL INCOME 120600
EXPENSES
Office Supplies Expense 2250
Wages 32500
Wages 8700
Lease Expenses 4500
Bank Fees 8
Power & Electricity 5000
Fule Charges 4300
Travelling Expenses 4300
Interest on Loan 220
Insurance Expenses 5000
TOTAL EXPENSES 66778
Profit/(Loss) for the period 53822
b) Second Method:

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Student Name:
Income Statement
for the month ended 31 July 2017
$
INCOME
Revenue from Sales 100600
Revenue from Service 20000
TOTAL INCOME 120600
EXPENSES
Office Supplies Expense 2250
Wages 32500
Wages 8700
Lease Expenses 4500
Bank Fees 8
Power & Electricity 5000
Fule Charges 4300
Travelling Expenses 4300
Interest on Loan 220
Insurance Expenses 5000
TOTAL EXPENSES 66778
Profit/(Loss) for the period 53822
2) Formula View:
a) First Method:
Student Name:
Income Statement
for the month ended 31 July 2017
$
INCOME
=E10 =B10+B12+B22
=E15 =B15
TOTAL INCOME =H9+H10
EXPENSES
Office Supplies Expense =B7
=E17 =B8+B9+B13+B16
=E17 =B17+B18

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=E11 =B11
=E14 =B14
=E19 =B19
=E20 =B20
=E7 =B20
=E21 =B21
=E6 =B6
TOTAL EXPENSES =SUM(H13:H22)
Profit/(Loss) for the period =H11-H23
b) Second Method:
Student Name:
Income Statement
for the month ended 31 July 2017
$
INCOME
=E10 =B10+B12+B22
=E15 =B15
TOTAL INCOME =H9+H10
EXPENSES
Office Supplies Expense =B7
=E17 =B8+B9+B13+B16
=E17 =B17+B18
=E11 =B11
=E14 =B14
=E19 =B19
=E20 =B20
=E7 =B20
=E21 =B21
=E6 =B6
TOTAL EXPENSES =SUM(H13:H22)
Profit/(Loss) for the period =H11-H23
Q 3:
The five websites, which are relevant to accounting, are listed below:

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1) Australian Accounting Standard Board (http://www.aasb.gov.au ) : This website provides the
accounting standards, which have to be followed for recording any accounting transactions and
preparing accounting reports.
2) International Financial Reporting Standards (http://www.ifrs.org/ ) : This website describes
the international standards for preparing financial reports.
3) Australian Taxation Office (https://www.ato.gov.au ): This is the website, where all the
information, related to accounting for taxation in Australia, are available.
4) Financial Accounting Standard Board (http://www.fasb.org ): The accounting standards of
AASB are based on the FASB standards. Therefore, apart from AASB website, this website can
also be helpful for the relevant information on accounting standards.
5) Generally Accepted Accounting Principles (http://gaap.com.au ): GAAP is another popular
accounting principles, followed in any countries, especially in USA. Hence, for international
financial reporting, this website can be very beneficial to understand the accounting policies,
adopted by foreign companies.
Q 4:
Amongst the various professional accounting organizations, Association of International
Accountants is one of the most revered organizations. The organization helps the people, who
wish to have training in accountancy, financially. Moreover, the professional accountants and the
business firms can also get various type of financial and accounting information from the website
of this organization.

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Q 5:
Work Integrated Assessment
My previous work was in educational institute where they had to prepare the students for
the entrance examination of engineering as well as medical background. In that, we had
computing work environment that my existing workplace. My key responsibility computer was
to handle the administration as well as documentation work for the educational institutes. I had to
perform all the documentation work by using computers and system need to be updated as well.
In my computer, information was saved in data saving file as well as protected by uploading on
the computer. The use of network was easily accessible and reliable because it was linked with
the computer (Williams, 2014). In my computer, Microsoft office programs were present that I
used to work like Microsoft PowerPoint, Microsoft word, Microsoft Excel and Microsoft
Outlook. While working in these educational institutions, I was aware of various courses and
programs that are provided for the students so that they can score well in their entrance
examination. I was responsible to handle the administration department where I noted that this
educational institution was running their business in a profitable way.
Currently, I am working in a bank where I am employed as manager. In the bank, I was
provided with materials that I need on daily basis like task lamp, document holder, phone head
set as well as computer to work. We are given comfortable desk and chair where we can sit and
work without any problem. Secrecy and confidentiality of information need to be maintained at
banks as there are so many transactions related to money that we have to handle. I really enjoy
working in this friendly and productive environment where we are given enough freedom to
work as we like and utilize the resources as far as possible.

11ACCOUNTING SYSTEM & PROCESS
Q 6:
ABC Learning and ethics- ABC Learning Case study
In this particular question, ABC Learning was explained where it experiences a slow but
stable start especially in the first year of operations (Weil, Schipper & Francis, 2013). On
introducing the role of Federal Government, it was considered as the main factor that needs
development at that point of time. It was all about the company who actually has access to
fantastic media coverage but the government was even purchasing the centers of ABC by using
indirect means. In addition, the company even was capable for international expansion in the
near future. The company enjoys high share price as well as valuation of assets that was
increasing at a faster pace because of financial inclusions. After gathering information from the
reports of the company, it is noted that the financial performance as well as cash flow shows the
scenario that it is about to collapse in short time (Deegan, 2013). There was a need for ABC
Learning on urgent basis and this could be realized because of astronomical debt as well as
valuation of assets at given inflated and the cross assets liquidity at the same time. The company
even suffered from huge debt crisis during the Global Financial Crisis 2008 where the company
owned more than dollar in debt at 30% in equity.
There are three major ethical issues that were the reason for the collapse of ABC
Learning and these are as follows:
There was wrong information given about the company to the public because of which
shareholders had lost money in the business.
There was constant accounting irregularities as well as company had used margin loan
for financing purpose.