Description - Navigaid Systems Pty Ltd by Lew Edwards
Navigaid Systems Pty Ltd is a small retail business specialising in the supply of a limited range of person global positioning systems to a variety of customers. The practice set is designed to give users experience, in a simulated retail business environment, experience in analysing, recording and processing a number of common business transactions incorporating a perpetual inventory system in a manual accounting system. On completion of this practice students should have an understanding of the processes and procedures associated with the manual accounting system and in particular a greater appreciation of: ? the steps involved in the accounting cycle for a small retail business ? how the accounting cycle culminates in the production of monthly financial statements ? the accounting procedures used in a perpetual inventory system ? how the Goods and Services Tax impacts on accounting ? the role of balance day adjustments and their effects on final statements, and the end-of-period closing process ? preparation of financial statements from accounting records.
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John Wiley & Sons Australia Ltd
Publisher: John Wiley & Sons Australia Ltd
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