ADITIYA RACHMAYANI (216511068)

5C- AKUNTANSI MANAJERIAL

Discussion 6 (Bookkeeping)
1. How do bookkeeping procedures in a large organization differ from those in a small one? Are the
basic principles the same or different?
Answer : Bookkeeping procedures in large organizations differ from those in small ones due to the
size, complexity, and volume of transactions. The basic principles of bookkeeping remain the same,
but the methods and requirements vary.
2. What are some of the basic requirements for a bookkeeper?
Answer : The basic requirements for a bookkeeper include strong numerical aptitude, mathematics
skills, computer literacy, data entry proficiency, finance and business knowledge, attention to detail,
communication skills, and collaboration. Bookkeepers should possess a solid understanding of basic
mathematics and be comfortable working with numbers. They are also required to have a thorough
working knowledge of basic and intermediate concepts of finance and business. Additionally,
bookkeepers should be meticulous and accurate in recording each detail in its proper place.
3. When were the first known business records kept? By whom? What kind of records were kept?
Answer : The first known business records were kept around 4,000 B.C. by the Sumerians, who used
cuneiform writing on clay tablets to record property ownership and commercial activity. The
Egyptians also expanded the use of archives by creating and housing military records around a
millennium later. These records included details of trade, taxes, and other economic activities. The
first mention of record retention occurred in Mesopotamia around this time as well, with short
retention records, such as bookkeeping records and letters, being discarded after a certain period,
while long retention records, such as legal documents, were stored in a more permanent housing.
4. How did modern bookkeeping begin?
Answer : The first known business records were kept around 4,000 B.C. by the Sumerians, who used
cuneiform writing on clay tablets to record property ownership and commercial activity. The
Egyptians also expanded the use of archives by creating and housing military records around a
millennium later. These records included details of trade, taxes, and other economic activities. The
first mention of record retention occurred in Mesopotamia around this time as well, with short
retention records, such as bookkeeping records and letters, being discarded after a certain period,
while long retention records, such as legal documents, were stored in a more permanent
housing.Modern bookkeeping has its roots in Luca Pacioli, an Italian mathematician and monk, who
published a book entitled “Summa de Arithmetica, Geometria, Proportionalita” in 1494. In this
work, Pacioli outlined the double-enty accounting system, a method that became tha basis of
bookkeeping modern. This system involves recording every financial transaction with equal and
offsetting debits and credits, providing a systematic approach to tracking and verifying financial
transactions.
5. What are the two basic methods of bookkeeping?
Answer : The two basic methods of bookkeeping are single-entry bookkeeping and double-entry
bookkeeping

 Single-entry bookkeeping: This method involves making only one entry for every
transaction, mainly consisting of the cash flowing into and out of the business. It is the most
simple bookkeeping method and is typically used by small businesses with straightforward
financial transactions
 Double-entry bookkeeping: This method, perfected by the merchants of Venice during the
fifteenth century, is still used today. It involves recording every financial transaction with
equal and offsetting debits and credits, providing a systematic approach to tracking and
verifying financial transactions.

Discussion 7 (Business transactions and financial statement)

1. What kind of accounting system should each business have? What should the method provide?
Answer : Each business should have an accounting system that suits its specific needs and
requirements. The chosen method should provide an accurate and comprehensive representation
of the company's financial position. The two primary methods of accounting are the cash method
and the accrual method.

 Cash method: In this method, income is recorded when it is received, and expenses are
recorded when they are paid. It is the easiest method to use but may not provide an
accurate financial picture, especially for businesses with payables and receivables
 Accrual method: This method records income when it is earned and expenses when they are
incurred, regardless of when the cash is received or paid. It provides a more accurate
representation of a company's financial position, especially for businesses with payables and
receivables
2. For what is an accountant responsible in setting up a system?
Answer : An accountant is responsible for setting up, maintaining, and managing a corporation's
accounting system, which is most often an enterprise-wide software platform. The accounting team
sets up individual accounts in the asset, liability, equity, income, and expense categories, assigning
unique general-ledger codes to each account and setting the system to record various transaction
types in the appropriate accounts automatically
3. What kind of equipment can be utilized where speed is important?
Answer : Modern accounting machines and data-processing equipment have significantly increased
the speed with which information can be made available to management. Some of the key
equipment and technologies that have contributed to this acceleration include tabulating machines,
accounting machines, and electronic data processing (EDP) systems.
4. How are transactions recorded in accounting systems?
Answer : When a business is established, a system must be introduced that records all transactions
in monetary terms. These transactions can be categorized as internal or external, where internal
transactions involve transfers within the company, and external transactions involve transfers
between the company and external entities.
5. What are some typical business transactions? Are all of them outside the organization
Answer : Typical business transactions include a wide range of financial activities, both internal and
external, that are essential for maintaining accurate financial records. These transactions can be
categorized as internal, occurring within the company, or external, involving exchanges with outside
entities. Some typical business transactions are as follows:
1. Purchase of merchandise, supplies, and services
2. Sale of merchandise
3. Receipt and disbursement of cash
4. Receipt and issue of negotiable instruments, such as checks or notes
5. Acquisition of property
6. Incurring and paying debts
7. Transfer of merchandise from warehouse to store
8. Use of supplies and services in the operation of the business
In summary, typical business transactions encompass a variety of internal and external financial
activities that are crucial for the operation and financial management of a business.

Discussion 8 (Budgeting)
1. What does budgeting involve? What is its primary objective?
Answer: Budgeting involves setting financial goals and standards for an enterprise. The primary
objective of the budget is to establish a financial framework for the operations of the business.
2. What is the customary accounting period for the budget? When can a budget be reviewed or
changed?
Answer: The accounting period for the budget is usually either the calendar year or the fiscal year.
As we have noted, the fiscal year is any arbitrarily chosen twelve month period that does not
necessarily correspond to the calendar year. Many business have provisions for review and change
of the budget more frequenty, quarterly, or even monthly.
3. What is included in the financial forecast? What can a flexible master budget be used for?
Answer: A generally accepted budgeting device is a flexible master budget. This budget foresees
that management plans to operate the business at various levels of activity and all the different
activities of the enterprise are included in the financial forecast. Budget for various sections of the
company are gathered together into one overall budget. Then, as the business year progresses,
management can use the budget as a control device that permits monitoring of the company’s
operations.
4. What kinds of activities are included in a business involved in retail trade? For which of them
would budgets be prepared?
Answer: In retail business, activities include purchasing inventory, managing store operations,
marketing, sales, and customer service. Budgets are usually prepared for various aspects such as
sales projections, marketing campaigns, operational costs, and employee salaries to ensure effective
financial planning and control.
5. What are the important entries in the sales budget? What else must be added if the business sells
more than one kind of
Answer: One of activity budgets is the sales budget. Information about unit price, that is the price of
one item of each kind of merchandise sold, and the expected sales volume are the important
entries for this budget. If the business sells more than one kind of item, a provision for the sales mix
must be added. This, of course, is the mixture of the different kinds and styles of goods sold by the
retailer.

Discussion Unit 9 (Cost Accounting)

1. What is one of the main objectivies of industry?

Answer : One of the main objectivies of industry is to determine the selling price of the products or
the cost of services that are furnished by a company.

2. What is the customary accounting period of the budget? When can a budget be reviewed or
changed?

Answer : To establish a selling price that ensures a profit, it is first necessary to determine the costs
of making the product or of providing the service. This is the purpose of costs accounting, and many
of the procedures of other branches of accounting have been adapted to achieve this end.

3. What is included in the financial forecast? What can a flexible master budget be used for?

Answer : Basically, there are two kinds of manufacturing, in the first, raw materials are shaped or
assembled into a product. Many consumer goods, including automobiles. appliances, furniture, and
clothing, are manufactured in this way. In the second, a continuous process that is often chemical in
nature changes a raw material into some other kind of product. Metals are refined, or purified, from
their ores by means of a continuous process. Some agricultural products-like sugar-are also refined
in this way. Petroleum products, paper, flour, and cement are other examples of continuous-process
manufacturing

4. What kind of manufacturing is job order cost accounting suitable for ?

Answer : job-order cost accounting, is suitable for use with the assembly type of manufacturing It is
used to determine the cost of an individual item or a batch, or job lot, of identical items. The other
method. process cost accounting, is suitable for use with the continuous-process type of
manufacturing
Budgets are typically prepared for activities such as purchasing inventory (inventory budget), sales
and marketing (marketing budget), store operations (operating budget), and overall financial
management (master budget). These budgets help allocate resources, set goals, and track
performance in different areas of the retail business.
5. What must the job order cost accountant first determine?
Answer : The job order cost accountant must first determine the direct costs associated with a
specific job. This involves identifying and calculating the direct materials, direct labor, and any other
direct costs that can be directly attributed to a particular job or project. This information forms the
foundation for accurately assigning costs to specific jobs and calculating the total cost of production
for each job in a job order costing system.

Discussion Unit 10 (Tax Accounting )

1. Why has tax accounting become an important specially throughout the world?
Answer : Almost all individuals and organizations in the united state are required to compute their
tax liability, complete the necessary forms, and pay the taxes due. Many features of the American
system. Both in the imposition collection of taxes, have been adopted by other countries the
speciality of tax accounting has, therefore, developed into one of the most important branches of
accounting throughout the world.
2. Why do most businessmen depend on tax accountants? What does a tax accountant
Answer: Tax accountants play a crucial role for businesses and individuals alike by providing
specialized expertise in navigating the complex world of taxation. Here are several reasons why
most businessmen depend on tax accountants:
a. Complexity of Tax Laws : Tax laws are intricate and subject to frequent changes. Businessmen may
not have the time or expertise to stay updated on the latest tax regulations. Tax accountants
specialize in understanding and interpreting these laws, ensuring that businesses remain compliant.
b. Time-Saving : Tax preparation can be a time-consuming process. Business owners often find it
more efficient to delegate tax-related tasks to professionals, allowing them to focus on running their
business and making strategic decisions.
c. Maximizing Deductions and Credits: Tax accountants are trained to identify and apply all relevant
deductions and credits that can minimize the amount of tax a business owes. This can result in
significant savings for the business.
3. What levels of government in the united states can impose income taxes?
Answer: In the United States, income taxes can be imposed by three levels of government: federal,
state, and local. Here's a brief overview of each:
- Federal Income Tax : The Internal Revenue Service (IRS) is the federal agency responsible for
collecting income taxes at the national level.
- State Income Tax: Many states impose their own income taxes in addition to the federal tax. State
income tax rates and rules vary widely among states.
- Local Income Tax: In some cases, local governments, such as cities or counties, may impose income
taxes. However, not all localities have the authority to do so, and the rates and rules vary.
It's important to note that not all states impose income taxes, and some states that do have varying
approaches.
4. What is a major concern of bussines? How is tax planning made possible?
Answer : A major concern for businesses is often the effective management of finances, and taxes
play a significant role in this aspect. Tax planning is a crucial element of financial management for
businesses.
How Tax Planning is Made Possible :
- Understanding Tax Laws: Businesses need to have a good understanding of applicable tax laws at
the federal, state, and local levels. This may involve staying updated on changes in tax regulations.
- Strategic Timing: Tax planning involves strategically timing income and expenses to optimize tax
outcomes. For example, deferring income or accelerating deductible expenses in the right
circumstances.
- Deductions and Credits: Identifying and leveraging available deductions and tax credits is a key
aspect of tax planning. This includes taking advantage of incentives provided by tax laws.
5. What are the three major forms of business organization ?
Answer :
- Sole Proprietorship
- Partnership
- Corporation

Discussion Unit 11 (Auditing)

1. What does the auditing function of accounting involve?
Answer : Auditing is an accounting that involves the review and evaluation of financial records.
2. How has the attitude toward auditing change in modern times?
Answer : In modern times, the attitude toward auditing has undergone several notable changes
influenced by various factors. Here are some key aspects of how the attitude toward auditing has
evolved:
1. Increased Emphasis On Transparency
2. Stricter Regulatory Environment
3. Technological Advancements
4. Globaliztion and Complex Business Strctures
5. Expanded Scope of Auditing Services
3. What kind of system for checking on operations and recording jobs is maintained by many
organizations? What business papers are used in this kind of system?
Answer : Many organizations maintain a system for checking on operations and recording jobs, and
this is often referred to as a job costing or project costing system. This system is crucial for tracking
the costs associated with specific jobs or projects. The system involves several business papers and
documents to record, monitor, and control various aspects of operations. Here are key components
of such a system and the associated business papers:
- Job orders or work orders
- Time sheets or time cards
- Materials requisition forms
- Purchase orders
- Job cost sheets
- Work in progress (WIP) Reports
- Change orders
4. What is the partical difficulty with internal control system?
Answer : While internal control systems are crucial for safeguarding assets, ensuring accurate
financial reporting, and promoting operational efficiency, there are some practical difficulties
associated with their implementation and maintenance.
5. What are the various functions of internal auditors? Overall what do they try to ensure?
Answer : Internal auditors play a crucial role in organizations by providing independent and
objective evaluations of the effectiveness of internal controls, risk management, and governance
processes. Their primary goal is to help organizations achieve their objectives by ensuring that
internal processes are sound, risks are adequately managed, and resources are used efficiently.
Group assignment, Member :
1. Irfan Toding Pamara (216511056)
2. Aditiya Rachmayani (216511068)
3. Tsamara Aqila Hazima (216511075)

2. How much related each of term? You choose ( two terms) and explain how related they are?
Answer : unit 6 (bookkeeping) is related to unit 7 (business transactions). The special terms
involved are liabilities and transactions.
Liabilities and transactions are closely related in the context of finance and accounting. Financial
transactions are economic events or activities that occur between two parties and result in changes
in the financial position of an entity. In other words, every time a financial transaction occurs, it can
affect the entity's obligations. A good understanding of the link between transactions and liabilities
is important for accurate accounting records, preparation of appropriate financial reports, and
analysis of a company's financial health.

3. Is there any factors that would be influenced on each terms related? Please mention and
explain in details.
Answer :
The factors that influence the terms "liability" and "transaction" can vary depending on the context,
be it an individual, a company, or a financial institution. Here are some general factors that can
influence these two terms:
Factors Affecting Liability:
1. Borrowing and Debt: The decision to take out a loan or debt can create liabilities. The interest
rate, term, and terms of the loan will affect the nature of the liabilities.
2. Contractual Obligations: Entities may have obligations under the contracts they have. The terms
of the contract, including the promised payments, will affect the size and nature of the obligation.
3. Future Revenue Recognition: If an entity receives payment in advance for services or products to
be provided in the future, this may create a liability.
4. Restitution and Guarantee: Liabilities may arise from promises to provide restitution or
guarantees for products or services provided.
5. Changes in Accounting Rules: Changes in accounting rules, such as new accounting standards, can
affect the way liabilities are recognized and measured in financial statements.
Factors Affecting Transactions:
1. Market Demand: Changes in consumer and market conditions can affect sales transactions for
goods or services, which in turn can affect cash receipts or liabilities.
2. Economic Conditions: Macroeconomic factors, such as economic growth, inflation rates, and
interest rates, can influence the types of transactions carried out and the size of liabilities.
3. Government Regulations and Policies: Government regulations, changes in fiscal policy, or
monetary policy can affect a company's transactions and obligations.
4. Technological Innovation: Technological changes may affect the way transactions are conducted
and may create new obligations, such as data protection or technology-related obligations.
5. Changes in Legal Environment: Changes in the legal environment, including changes in regulatory
or contract law, may affect transactions and the obligations arising from such transactions.
In summary, various factors, including borrowing and debt, contractual obligations, future revenue
recognition, restitution and guarantee, changes in accounting rules, market demand, economic
conditions, government regulations and policies, technological innovation, and changes in the legal
environment, can influence the different aspects of liabilities and transactions. Understanding these
factors can help businesses make informed decisions and optimize their financial performance.
4.You would also explain in details that among of those terms referred before, which terms
(choose one or two each) would be Absolutely affected/influenced or in contrarary of?
Answer : In summary, budgeting, cost accounting, tax accounting, and auditing are interconnected
processes that work together to ensure the efficient management of resources and compliance with
financial regulations. Budgeting provides a framework for allocating and tracking resources, while
cost accounting helps organizations minimize costs and improve efficiency. Tax accounting ensures
that individuals and businesses comply with tax laws, and auditing builds confidence in the financial
information provided by organizations and individuals. These processes are essential for financial
planning, decision-making, and compliance with financial regulations.