MANOLONG, DENISE LEA JEAN, O.

ULO1: LET’S ANALYZE

1. If I were to decide what coding technique, I will be using to organize Jose’s products, I would
choose to use the block and group coding technique. It is for a reason that integrating the two
techniques would lead to more organize inventory and Jose will no longer have a hard time in
tracing his items.

CODE MEANING TYPE

100 HARD CASES PHONE CASES
101 SOFT CASES
102 GLASS CASES
103 TABLET SKIN
104 FOLIO CASES

200 INDUSTRIAL VINYL STICKERS

201 POLYESTER
202 SATIN LABELS
203 ANIME
204 CARTOON CHARACTERS

300 TEMPERED GLASS SCREEN PROTECTOR

301 PET PLASTIC
302 TPU PLASTIC
303 MULTI-LAYERED SCREEN
PROTECTOR
400 MICRO USB CABLE CHARGER
401 TYPE C CABLE

2. By looking at the chart accounts of the various organizations, one thing I’m sure is that they are
distinct to each other and somehow similar in terms of the accounts used.
 In the chart of the SHOOL/UNIVERSITY, there is no equity account. Instead, the fund
balances section is presented to each type of fund. Unlikely to have notes receivable but
may have A/R for students who pay tuition in an installment basis/payment. The source
of revenue of a school comes from the tuition and fees paid by the students. Student
loans are an asset to the school while their deposits are considered as liability.
 The BANK chart of accounts does not have inventory and COGS. Loans to customers
would fall as an asset (current or noncurrent) depending upon the length of the loan.
The account of customers is considered as a liability and the classification of
income/revenue would be either loans service charges, investments and etc.
 In the chart of accounts of a GOVERNMENT UNIT there is no equity or summary of
drawing account same with a school/university. Instead, they have fund balances. There
is a balance sheet that consists of assets, liability and fund equity. Also, there is an
Encumbrance accounts. The revenue and expenditure of a government unit are grouped
according to its purpose and this revenue includes taxes, licenses, fines, charges for a
service and permits.
MANOLONG, DENISE LEA JEAN, O.
ULO1: LET’S ANALYZE

 MANUFACTURING COMPANY’s chart of accounts unlike with the schools and banks it
includes inventory and COGS because it has raw materials, WIP, and Finished goods.
These said accounts are enclosed to the company’s chart of accounts.
3.
 INVENTORY PURCHASES’ audit trail consists of purchase requisitions, purchase orders
and receiving reports to vendor invoices for payment. The said documents would be
included to the check or EFT transaction used to pay for an invoice and shall be recorder
in the Cash Disbursement Journal. Furthermore, these documents would be associated
to a journal entry made to record the purchases. At the bottom of each column in the
journal there should be a general ledger account number indicated. The reference
number in journal would appear in the general ledger, inventory ledger, and A/P ledger,
 SALES OF INVENTORY- inventory sales audit combines customers orders, sales orders
and shipping documents with the sales invoice. These documents are attached to a
journal that records the sale od these items. This receipt is also linked to the cash
received from one customer and the journal entry that records this receipt.
 EMPLOYEE PAYROLL accounting path to record payroll payments from employee
activity records are linked to check and journal entry in a manufacturing company.
There are also contacts with working time tickets that are used to determine and
distribute the labor cost for a particular product or process.