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.F
EATURES * Students will learn how typical business events are recorded in a manual accounting system * Students will gain a basic understanding of the rules for debiting and crediting * Represents accounting processes that are made by a typical small business.
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John Wiley & Sons Australia Ltd
Publisher: John Wiley & Sons Australia Ltd
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