'Astronav Systems Pty Ltd' is a combined manual and computerised practice set using MYOB Accounting Plus Version 17. The practice set is divided into two parts: Part A requires the recording of a set of monthly transactions into a manual acccounting system and the completion of the accounting cycle, while Part B requires the subsequent month's transactions to be recorded in a computerised accounting sysem and completion of the accounting cycle using MYOB Accounting Plus version 17.
The practice set will provide students with an appreciation of the workings of a manual acounting system and develop their understanding of the transition from a manual accounting system to a computerised accounting system typically used in business.
On completion of the practice set, students will appreciate
? The steps involved in the accounting cycle for a small retail business
? How the accounting cycle culminates in the production of monthly financial statements
? Balance day adjustments and their effects over two accoumting cycles
? How the Goods and Services Tax impacts on accounting
? The preparation of financial statements.
