HI5001 Lecture 6 Version 3

HI5001 Accounting for Business Decisions
Lecture 6
Accounting Systems
Click to edit Master title style
Overview
Lecture Lecture Topic Readings/Preparation
1 Role of Accounting for Decision Making Textbook Chapter: 1
2 Financial Statements & Decision Making Textbook Chapter: 2
3 Recording Business Transactions Textbook Chapter: 3
4 Adjusting Entries & Preparing Financial Statements Textbook Chapter: 4
5 Completing The Accounting Cycle Textbook Chapter: 5
6 Accounting Systems Textbook Chapter: 7
7 Cash Management & Control Textbook Chapter: 11
8 Receivables Textbook Chapter: 12
9 Inventories Textbook Chapter: 6 & 13
10 Non-current Assets Textbook Chapter: 14 & 15
11 Liabilities Textbook Chapter: 16
12 Analysis & Interpretation of Financial Reports Textbook Chapter: 19
Applied Business Statistics for Managers Holmes Institute

Overview
Lecture 5
Complete the
Accounting
Cycle
Illegal

Overview
Lecture 5 Lecture 6
B
Complete the
AccountingB Systems
Accounting b
Cycle
Illegal

Topics
Click toCovered In This
edit Master titleLecture
style
Here’s what you will learn from this lecture:
1 Basic operation of an accounting system
2 Development of an accounting system
3 Internal Control Systems
4 Manual AS: Control Accounts and Subsidiary Ledgers

Topics
Click toCovered In This
edit Master titleLecture
style
Here’s what you will learn from this lecture:
5 Manual AS: General Journal and Special Journals
6 Introduction to Computerized Accounting Systems and Software

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Lecture Overview
Master title style
Accounting Accounting Period

Cycle
Specific steps
Complete
accounting process

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Lecture Overview
Master title style

Cycle
Specific steps
Complete
accounting process

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Lecture Overview
Master title style

Cycle
Specific steps Accounting

Complete System
accounting process

Click to
Basic Operation
edit Master
of an
title
Accounting
style System
Definition of Accounting System
Collection
Accounting Storage
System
Processing

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Basic Operation
edit Master
of an
title
Accounting
style System
Financial &
Collection Accounting data
Accounting Storage
System
Processing Decision maker

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Basic Operation
edit Master
of an
title
Accounting
style System
Financial &
Collection Accounting data
Accounting Storage
System
Processing Decision maker
Accounting
Information
System
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Basic Operation
edit Master
of an
title
Accounting
style System
Manual Systems vs. Computerised Systems
Computerized Types of accounting Manual

accounting system accounting

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Basic Operation
edit Master
of an
title
Accounting
style System


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Basic Operation
edit Master
of an
title
Accounting
style System
Computerized accounting system
Accounting
Activity
AIS
Information
technology
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Basic Operation
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of an
title
Accounting
style System
Computerized accounting system
Accounting
Activity
Internal External
Users Users
AIS
Information
technology
Click to
Basic Operation
edit Master
of an
title
Accounting
style System


Click to
Basic Operation
edit Master
of an
title
Accounting
style System
Manual accounting system
Lower
upfront cost
Ordinary
Easy to use
Manual accounting Small business

system

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Basic Operation
edit Master
of an
title
Accounting
style System
3 Basic Phases of an Accounting System
Input
Processing
Output

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Basic Operation
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of an
title
Accounting
style System
Accounting
Cycle Step 1 & 2
Input

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Basic Operation
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of an
title
Accounting
style System
Accounting
Cycle Step 1 & 2 Step 3 to 10
Input Processing

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Basic Operation
edit Master
of an
title
Accounting
style System
Accounting
Cycle Step 1 & 2 Step 3 to 10 Step 11 to 13
Input Processing Output

Click to
Basic Operation
edit Master
of an
title
Accounting
style System

Click to
Basic Operation
edit Master
of an
title
Accounting
style System
Purchase of Source
goods document

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Basic Operation
edit Master
of an
title
Accounting
style System
Let me record
this transaction
in journal
B
B
b
Purchase of Source
Recording
goods document

Click to
Basic Operation
edit Master
of an
title
Accounting
style System

Click to
Basic Operation
edit Master
of an
title
Accounting
style System
Transferring
information
with the
same date
Journal Ledger

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Basic Operation
edit Master
of an
title
Accounting
style System
Ledger
Transferring title
information
with the
same date
Trial Balance
Journal Ledger
Ledger
balance

Click to
Basic Operation
edit Master
of an
title
Accounting
style System

Click to
Basic Operation
edit Master
of an
title
Accounting
style System
Journal Ledger
Trial Balance

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Basic Operation
edit Master
of an
title
Accounting
style System
Income
Journal Ledger Statement
Balance sheet Cash flow

Trial Balance
statement

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Basic Operation
edit Master
of an
title
Accounting
style System
Converting Data to Information
Business
Transaction
Source
Journal Ledgers Reports
documents

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Basic Operation
edit Master
of an
title
Accounting
style System
Business
Transaction
Source
documents
Interested
Parties

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Basic Operation
edit Master
of an
title
Accounting
style System
Business
Transaction
Source
documents
Interested
Parties
Management
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Basic Operation
edit Master
of an
title
Accounting
style System
Business
Transaction
Source
documents
Illegal
Interested
Parties
Creditor Management
Click to edit Master
Pause Point 1title style
Pause the video here and take few moments to review this section.
Understand what is an accounting system.
Understand basic operation of an accounting system.
What are the three basic phases of an accounting system.

Development of an Accounting
title style System
Applied Business Statistics for Managers Ordinary Holmes Institute

title style System
I want a
good
accounting
system
Ideal
accounting
system
title style System
I want a
good
accounting
system
Carefully
planned
Carefully
Ideal designed
accounting
system
Click
3 Phases
to edit
in Developing
Master title a
style
System
Systems analysis
Understanding information
requirements and sources
of information
Systems implementation
Systems design
and review
Implementing systems, Determining personnel
training staff, preparing requirements, source
accounting manual, documents, accounting
test-runs, evaluation records and procedures,
and review reports and reports format

Click
3 Phases
to edit
in Developing
Master title a
style
System
System
3 implementation &
review
2 System design
1 System analysis

Click to Analysis
System edit Master title style
Review business
requirement &
processes

Click to Analysis
Things
working well
Review business
requirement &
processes
Improvement
required
Click to Analysis
Things working
well
Review business
requirement & Mapped to
processes project plan
Improvement
Applied Business Statistics for Managers
required Holmes Institute
Click to Design
System
3 implementation &
review
2 System design
1 System analysis

Click to Design

Click to Design
Personal
requirement

Click to Design
Personal
requirement
Source
documents

Click to Design
Personal
requirement
Records & Source

procedures documents

Click to Design
Report & Personal

its format Brequiremen
Bt
b
Ordinary
Records & Source
procedures documents

Click to Implementation
and Review
System
3 implementation &
review
2 System design
1 System analysis

and Review
System
System
Implementation
Implementation

and Review
Provide
training to
staff
System
System
Implementation
Implementation

and Review
Provide
training to
staff
Preparing
accounting
manual
System
System
Implementation
Implementation

and Review
Provide
training to
staff
Preparing
accounting
manual
System
System
Implementation
Implementation
Test Runs

and Review
Provide
training to
staff
Preparing
accounting
manual
System
System
Implementation
Implementation
Test Runs
Evaluation &
review
Pause the lecture here.
Consider yourself as a head of the Finance Department who wants to

replace the existing accounting software with SAP.
Think and state the potential hurdles for implementing the new system.
For example, resistance from people, budgetary approval etc.

Considerations title style
in Developing an Accounting System

Cost versus
benefit
BOh!! but your

We invested $1 B accounts
million for the new b
requirement was
system small
B

Cost versus
benefit
Compatibility

We need to I’s just a

incorporate one click
Cost versus work in the
revised
benefit system
GST rate
Flexibility &
Compatibility
adaptability
Cost versus
Internal
benefit
Control
Flexibility &
Compatibility
adaptability
Pause the lecture here and take a few moments to check your learning.
• What are the 3 phases of the operation of an accounting system
• The installation of an accounting system consists of 3 phases
• Four important considerations in establishing an accounting system are:
✓ cost vs. benefits,
✓ compatibility with the organisation and personnel of the business,
✓ flexibility to adapt to expansion and changes in the business, and
✓ an effective system of internal control.

Click to Control
Internal edit Master
Systems
title style
Internal Control

Click to Control
Systems
title style
Defined
Control its
activities
Internal
Control
System
Procedures
adopted by
entity
Protect its Efficient use of

assets asset

Click to Control
Systems
title style
Defined
• A system of internal control consists of all the measures used by
a business:
✓To safeguard its resources against waste, fraud and
inefficiency.
✓To promote the reliability of accounting data.
✓To encourage compliance with business policies and
government regulations.
• Two aspects to internal control:

✓administrative controls
✓accounting controls.

Click to edit
Principles ofMaster
Internaltitle
Control
style Systems
Clear
responsibility
Principles
of internal
control
system

Click to edit
Principles ofMaster
Internaltitle
Control
style Systems
Clear
responsibility
Separation of
record keeping
& custodianship
Principles
of internal
control
system

Click to edit
Principles ofMaster
Internaltitle
Control
style Systems
Clear
responsibility
Separation of
record keeping
& custodianship
Principles
of internal
Division of
control
responsibility
system

Click to edit
Principles ofMaster
Internaltitle
Control
style Systems
Clear
responsibility
Separation of
record keeping
& custodianship
Principles
of internal
Division of
control
responsibility
system
Mechanical &
Electronic
devices

Click to edit
Principles ofMaster
Internaltitle
Control
style Systems
Clear
responsibility
Separation of
record keeping
& custodianship
Principles
of internal
Division of
control
responsibility
system
Mechanical &
Electronic
Adequate devices
insurance
Click to edit
Principles ofMaster
Internaltitle
Control
style Systems
Clear
responsibility
Separation of
record keeping
& custodianship
Principles
of internal
Division of
control
responsibility
system
Mechanical &
Electronic
Internal
Adequate devices
auditing
insurance
Click to edit
Principles ofMaster
Internaltitle
Control
style Systems
Clear
responsibility
Separation of
record keeping
& custodianship
Principles
of internal
Division of
control
Programming responsibility
system
control
Mechanical &
Electronic
Internal
Adequate devices
auditing
insurance
Click to edit
Principles ofMaster
Internaltitle
Control
style Systems
Clear
responsibility
Separation of
Physical
record keeping
controls
& custodianship
Principles
of internal
Division of
control
system
control
Mechanical &
Electronic
Internal
Adequate devices
auditing
insurance
Click to edit
Principles ofMaster
Internaltitle
Control
style Systems
Clear
Other responsibility
controls
Separation of
Physical
record keeping
controls
& custodianship
Principles
of internal
Division of
control
system
control
Mechanical &
Electronic
Internal
Adequate devices
auditing
insurance
Click to edit
Principles ofMaster
Internaltitle
Control
style Systems
Establishment of
responsibility
Cashier

Click to edit
Principles ofMaster
Internaltitle
Control
style Systems
Establishment of
responsibility Segregation of
duty
Person Clerk
receiving depositing
Cashier cash cash

Click to edit
Principles ofMaster
Internaltitle
Control
style Systems
Establishment of Segregation of Safe storage

responsibility duty of cash
Person Clerk
Cashier cash cash
Internal
Applied Business Statistics for Managers Verification Holmes Institute
Click to edit
Principles ofMaster
Internaltitle
Control
style Systems
Establishment of Segregation Safe storage

responsibility of duty of cash
Person Clerk
Cashier cash cash
Cash Deposit
receipt slips
Payment Cash
slip register
Internal
Applied Business Statistics for Managers
Documentation Verification Holmes Institute
Click to edit
Principles ofMaster
Internaltitle
Control
style Systems
Establishment of Segregation Safe storage

responsibility of duty of cash
Person Clerk
cash cash
Cashier
Cash Deposit
receipt slips
Build trust &
daily cash
deposition Payment Cash
slip register
Other
Internal
Applied Business Statistics for Managers control
Documentation Verification Holmes Institute
Click to editof
Limitations Master
Internal
title
Control
style Systems
Internal
control = Risk
free system

Click to editof
Limitations Master
Internal
title
Control
style Systems
Internal
control = Risk
free system
NO

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Limitations Master
Internal
title
Control
style Systems
Limitation of internal control
1 Absolute assurance not possible
I am equipped with
safety gear and
should get the
cheese easily

Click to editof
Limitations Master
Internal
title
Control
style Systems

Effectiveness influenced by
2 I’m a receptionist,
I think size of entity’s operations telephone operator,
this is & secretary.
better I think
this is
Illegal better
I think
this is
better
Large organization – Small organization – No segregation of duty

Different view
Applied Business Statistics for Managers & independent internal verification
Holmes Institute
Click to editof
Limitations Master
Internal
title
Control
style Systems

Breaking of good control system due to
Employees 3
tiredness, indifference or carelessness
Ordinary
May not bother
Illegal
to work
properly
Overworked Careless
Complete
work
Click to editof
Limitations Master
Internal
title
Control
style Systems
4 Heavy reliance on segregation of duties
Its difficult
to monitor
all things
Ordinary
at a time

Click to editof
Limitations Master
Internal
title
Control
style Systems
5 Difficult in detecting computer fraud
Ordinary
Data theft due to
Applied Business Statistics for Managers inefficient system Holmes Institute
Click to editof
Limitations Master
Internal
title
Control
style Systems
1 2 3 4
B 5
B
b
Ordinary
Breaking of
Illegal
Effectiveness the control Difficult in

Absolute Heavy
influenced by system due detecting
assurance reliance on
size of to tiredness, computer
not possible entity’s segregation
indifference fraud
operations or of duties
carelessness

Research the internal control system, its principles and limitations.

• What is a system of internal control?
• What are the principles of internal control systems?
• What are the limitations of internal control systems?

Click to Accounts
Control edit Master
& title
Subsidiary
style Ledgers

Click to Accounts
Control edit Master
& title
Subsidiary
style Ledgers
Contains
detail to
support
Subsidiary Control Ledger
Ledger
Control accounts and subsidiary ledgers:

• A large amount of detailed information about a certain general ledger account must be
kept in a separate ledger called a subsidiary ledger.
• The total of the balances of which should equal the balance of the related control
account in the general ledger.

Click to editLedgers
Subsidiary Master title style
Subsidiary Ledgers Subsidiary ledger

P Able
Date Debit Credit Balance
Nov 1 3200
Nov 8 1800 5000
Nov 16 3200 1800
General ledger
Accounts receivable Subsidiary ledger
R Baker
Nov 1 6500 Date Debit Credit Balance
Nov 30 5100 11600 Nov 1 1100
Nov 30 6900 4700 Nov 3 1100 -
Nov 20 2400 2400
Subsidiary ledger
D Cane
Nov 1 2200
General Ledger Nov 12 900 3100
Nov 28 2600 500
Subsidiary ledger
Control
P Able
account Date Debit Credit Balance
Nov 1 3200
Nov 8 1800 5000
Nov 16 3200 1800
General ledger B
Accounts receivable Subsidiary ledger
B
Date Debit Credit Balance R Baker b
Nov 1 6500 Date Debit Credit Balance
Nov 30 5500 11000 Nov 1 1100
Nov 3 1100 -
Nov 30 6900 4700
Nov 20 2400 2400
Subsidiary ledger
D Cane
Nov 1 2200
Nov 12 900 3100
Nov 28 2600 500
Schedule of Accounts receivable

General ledger as on 30 November
B
Accounts receivable B
Date Debit Credit Balance b Amt in $
Nov 1 6500 P Able 1800
Nov 30 5500 11000 R Baker 2400
Nov 30 6900 4700 D Cane 500
4700

• Principles of control accounts & subsidiary ledgers

• Summary information
• Control account
• Detailed information
• Subsidiary ledger
• Subsidiary ledgers are used for a number of other general ledger
accounts, such as:
• Accounts receivable
• Accounts payable
• Inventory
• Plant and Equipment
• Investments

• What are the differences between control account and subsidiary ledgers?
• What are the advantages of using a subsidiary ledger?
• Research any two control ledgers and draw the linkage to their corresponding
subsidiary ledgers.

Click to edit
General Journal
Master
vs. title
Special
styleJournals
Transaction
date
Journal Accounts
Book of involved
original Records all
entry financial transaction
B Amount of
B money
Brief
b
description

Click to edit
General Journal
Master
vs. title
Special
styleJournals
Transaction
date
Journal Accounts
Book of involved
original Records all
entry financial transaction
Amount of
money
Brief
Ordinary
description
So much
information
to record.

Click to Journals
Special edit Master title style
Cash
payments
Journal
Cash Sales
receipts Special journal Journal
Journal
Purchases
Journal
Click to
Sales Journal
edit Master title style
Cash
payments
Journal
Cash Sales
receipts Journal
Journal
Purchases
Journal
Click to
Sales Journal
Sales
Journal
Credit Sales of
inventory

Click to
Sales Journal

Click to
Sales Journal
Monthly
basis
General Subsidiary
Sales
Ledger Ledger
Journal (Account (Debtor
receivable) Account)
Credit Sales of
inventory
Daily
basis

Click to
Sales Journal
Transaction
recorded on
single line Sales
Journal

Click to
Sales Journal
No
narration
Transaction
recorded on
single line Sales
Journal

Click to
Sales Journal
No
narration
Transaction Efficient
recorded on posting
single line Sales
Journal

Click to
Sales Journal
Summary of Sales journal:

• It is used solely for recording sales of inventory on credit.
• Other columns can be added to the sales journal to
satisfy the needs of a specific entity.
• Advantages of a sales journal:
✓Each transaction recorded on a single line.
✓Entries do not require a narration.
✓Eliminates posting separate debits and credits during
the month.

Click to editJournal
Purchases Master title style
Cash
payments
Journal
Cash Sales
receipts Journal
Journal
Purchases
Journal
Purchases
Journal
Credit Purchases
of inventory

B
B
b

Monthly
basis
General Subsidiary
Purchases
Ledger Ledger
Journal (Account (Creditor
payable) Account)
All Credit
Purchase
Daily
basis

No
narration
Transaction
Ordinary
Efficient
recorded on
posting
single line
Purchases
Journal

Summary of Purchases Journal:

• Single purpose Purchase Journal records only credit
purchases of inventory items
• Multiple purpose Purchase Journal can be used for credit
purchase of items other than inventory
• Total posted to general ledger monthly
• Detail (by creditors) posted to subsidiary ledger daily
• Advantages
✓as for sales journal

Click to
Cash Receipts
edit Master
Journal
title style
Cash
payments
Journal
Cash Sales
receipts Journal
Journal
Purchases
Journal
Click to
Cash Receipts
edit Master
Journal
title style
Cash
Receipts
Journal
Cash receipt

Click to
Cash Receipts
edit Master
Journal
title style

Click to
Cash Receipts
edit Master
Journal
title style
Summary of Cash Receipts Journal

• Records all receipts of cash
• Records each receipt and total banked
• Totals posted to general ledger monthly
• Details (for cash received from debtors only) posted to
subsidiary ledger daily
• Columns set up for common receipts (cash sales, GST
payable on cash sales, payment from accounts
receivable)

Click to
Cash Payments
edit Master
Journal
title style
Cash
payments
Journal
Cash Sales
receipts Journal
Journal
Purchases
Journal
Click to
Cash Payments
edit Master
Journal
title style
Cash
Payments
Journal
Cash
payment

Click to
Cash Payments
edit Master
Journal
title style

Click to
Cash Payments
edit Master
Journal
title style
Summary of Cash Payments Journal
• Records all payments of cash
• Records each payment and cheque number
• Totals posted to general ledger monthly
• Details (for cash paid to creditors only) posted to
subsidiary ledger daily
• Columns set up for common payments (cash purchase,
GST receivable on cash purchases, payment for
accounts payables and other accounts)

Clickoftothe
Use edit
General
MasterJournal
title style
Where
should I
Sales account
Journal depreciation
Purchases
Journal
General
Journal
Cash
Receipts
Journal Cash
Payments
Journal

Clickoftothe
Use edit
General
MasterJournal
title style
General entry used for

booking
Infrequent
transactions

Clickoftothe
Use edit
General
MasterJournal
title style

booking
Infrequent
transaction
s
Adjusting
entries

Clickoftothe
Use edit
General
MasterJournal
title style

booking
Infrequent
transactions
Adjusting
entries
Closing
entries
Clickoftothe
Use edit
General
MasterJournal
title style

booking
Infrequent
transactions
Reversing Adjusting
entries entries
Closing
entries
Clickoftothe
Use edit
General
MasterJournal
title style

booking
Correcting Infrequent
entries transactions
Reversing Adjusting
entries entries
Closing
entries
Worked
Click toExample (for Art
edit Master & Medical
title style P/L)
From the following information, determine which journal should be used:

➢ 1/8 Purchased $440 of art supplies for cash
➢ 1/8 Purchased $5,500 of medical supplies from Nead Co (credit)
➢ 3/8 Returned defective medical supplies ($220)
➢ 5/8 Sold art supplies for $990 (cost $550) on credit to P Marks
➢ 6/8 Purchased art supplies from Tott Co for $770 (credit)
➢ 10/8 Returned defective art supplies from Tott ($110)
➢ 15/8 Paid Nead Co balance owing
➢ 16/8 Sold art supplies for cash ($275) cost $160
➢ 19/8 Received payment from P Marks
➢ 22/8 Sold medical supplies for cash ($880). Cost $500
➢ 25/8 P & H paid 75% of account owing

Worked
Click toExample (for Art
edit Master & Medical
title style P/L)
From the following information, determine which journal should be used:
➢ 1/8 Purchased $440 of art supplies for cash (CPJ)
➢ 1/8 Purchased $5,500 of medical supplies from Nead Co (credit) (PJ)
➢ 3/8 Returned defective medical supplies ($220) - GJ
➢ 5/8 Sold art supplies for $990 (cost $550) on credit to P Marks – (SJ)
➢ 6/8 Purchased art supplies from Tott Co for $770 (credit) - (PJ)
➢ 10/8 Returned defective art supplies from Tott ($110) – (GJ)
➢ 15/8 Paid Nead Co balance owing – (CPJ)
➢ 16/8 Sold art supplies for cash ($275) cost $160 – (CRJ)
➢ 19/8 Received payment from P Marks – (CRJ)
➢ 22/8 Sold medical supplies for cash ($880). Cost $500 – (CRJ)
➢ 25/8 P & H paid 75% of account owing (CRJ)

Research the special journals i.e. sales journal, purchases journal, cash receipts
journal and cash payments journal.

Computerized Accounting
title style
Manual Computerized
Ordinary
Accounting Accounting

title style
Sarah..7 John..fresher
years of recruited as
accounting an
experience accountant.
B
B
b
Manual Computerized
accounting accounting

title style
Reduction in
processing
cost
Advantages of
computerized
system

title style
Reduction in
processing
cost
Advantages of
computerized High
system processing
speed

title style
Reduction in
processing
cost
Advantages of
computerized High
system processing
speed
Error
reduction

title style
Reduction in
processing
cost
Advantages of
computerized High
system processing
speed
Automatic Error
posting reduction

title style
Reduction in
processing
cost
Advantages of
Automatic
computerized High
report system processing
generation speed
Automatic Error
posting reduction

title style
Improved
Reduction in
reporting &
processing
decision
cost
making
Advantages of
Automatic
computerized High
generation speed
Automatic Error
posting reduction

title style
Faster
response
Improved time Reduction in
reporting &
processing
decision
cost
making
Advantages of
Automatic
computerized High
generation speed
Automatic Error
posting reduction
title style
Failed system
Disadvantages
of
computerized
system

title style
Failed system
Disadvantages
Power failure
of
computerized
system

title style
Failed system
Disadvantages
Power failure
of
computerized
system
Viruses

title style
Failed system
Disadvantages
Power failure
of
computerized
system
Hackers Viruses

Computerizsed Accounting
title style
Failed system
B
Frauds Disadvantages
Power
B failure
of b
computerized
system
Hackers Viruses

Accounting
Click to editSoftware
Master -title
MYOB style
• It is recommended that students do familiarise themselves

with accounting software.
• All computers (for student use) at Holmes have MYOB
available or you can download a free trial copy on
www.mymyob.com.au
• This allows a trial for a period but it will shut down once
expires (or you need to purchase).

Accounting
Click to editSoftware
Master -title
xerostyle

Key Take
Click Aways
to edit Master title style
Summary of Lecture 6
• Basic operation of an accounting system

• Development of an accounting system
• Internal control systems
• Manual accounting system: control accounts and subsidiary
ledgers
• Manual accounting system: general journal and special journals
• Introduction to computerised accounting systems and software

End ofto
Click Lecture 6
• Recommended Readings
Hoggett & Edwards - Chapter 7
• Tutorial Questions
Hoggett & Edwards - Chapter End Questions
• Discussion Board & Drop-in Session

Post your questions in the discussion board
• Next Lecture
Lecture 7 – Cash & Internal Control

HI5001 Lecture 6 Version 3

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HI5001 Lecture 6 Version 3

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HI5001 Accounting for Business Decisions

Applied Business Statistics for Managers Holmes Institute

Applied Business Statistics for Managers Holmes Institute

Applied Business Statistics for Managers Holmes Institute

1 Basic operation of an accounting system

2 Development of an accounting system

3 Internal Control Systems

4 Manual AS: Control Accounts and Subsidiary Ledgers

Applied Business Statistics for Managers Holmes Institute

5 Manual AS: General Journal and Special Journals

6 Introduction to Computerized Accounting Systems and Software

Applied Business Statistics for Managers Holmes Institute

Accounting Accounting Period

Applied Business Statistics for Managers Holmes Institute

Accounting Accounting Period

Applied Business Statistics for Managers Holmes Institute

Accounting Accounting Period

Specific steps Accounting

Applied Business Statistics for Managers Holmes Institute

Applied Business Statistics for Managers Holmes Institute

Processing Decision maker

Applied Business Statistics for Managers Holmes Institute

Processing Decision maker

Computerized Types of accounting Manual

Applied Business Statistics for Managers Holmes Institute

Computerized Types of accounting Manual

Applied Business Statistics for Managers Holmes Institute

Computerized accounting system

Computerized accounting system

Computerized Types of accounting Manual

Applied Business Statistics for Managers Holmes Institute

Manual accounting system

Manual accounting Small business

Applied Business Statistics for Managers Holmes Institute

Applied Business Statistics for Managers Holmes Institute

Applied Business Statistics for Managers Holmes Institute

Applied Business Statistics for Managers Holmes Institute

Input Processing Output

Applied Business Statistics for Managers Holmes Institute

Input Processing Output

Applied Business Statistics for Managers Holmes Institute

Applied Business Statistics for Managers Holmes Institute

Applied Business Statistics for Managers Holmes Institute

Input Processing Output

Applied Business Statistics for Managers Holmes Institute

Applied Business Statistics for Managers Holmes Institute

Applied Business Statistics for Managers Holmes Institute

Input Processing Output

Applied Business Statistics for Managers Holmes Institute

Applied Business Statistics for Managers Holmes Institute

Balance sheet Cash flow

Applied Business Statistics for Managers Holmes Institute

Applied Business Statistics for Managers Holmes Institute

Applied Business Statistics for Managers Holmes Institute

Understand what is an accounting system.

Understand basic operation of an accounting system.

What are the three basic phases of an accounting system.

Applied Business Statistics for Managers Holmes Institute

Applied Business Statistics for Managers Ordinary Holmes Institute

Applied Business Statistics for Managers Holmes Institute

Applied Business Statistics for Managers Holmes Institute

Applied Business Statistics for Managers Holmes Institute

Applied Business Statistics for Managers Holmes Institute

Applied Business Statistics for Managers Holmes Institute