GONE FISHING PTY LTD - A MANUAL AND COMPUTERISED ACCOUNTING PRACTICE SET USING MYOB ACCOUNTRIGHT PLUS VERSION 19

Part A of this practice set provides experience in manually recording and posting a variety of business transactions common to small businesses, so that students gain an understanding of the flow of data in an accounting system. Many of these processes are out-of-sight in a computerised accounting system. Completion of the practice set for a one month period should ensure a greater appreciation of:

• Steps in the accounting cycle for a small business
• Use of special journals for processing data more efficiently
• Use of subsidiary ledgers to remove detail from the General Ledger
• Perpetual inventory system
• Bank account reconciliation
• Balance-day adjustments and the General Ledger closing process
• How the accounting cycle culminates in the preparation of financial statements
• How the goods and services tax (GST) impacts on accounting.

Part B of this practice set gives students experience in setting up a data file, entering opening balances, recording transactions and producing useful reports using MYOB Accounting Plus v19. On completion of Part B, users will acquire knowledge of how the same processes as those listed above for the manual practice set operate in a computerised environment.

In order to gain the most benefit from the practice set it is recommended that Part A be completed first, followed by Part B. However, Part A and Part B can each be independently completed.

Systems Requirements
For Windows 7: Windows Vista (service Pack 2) or Windows XP (Service Pack 3)
For Mac: Mac OS X 10.4 or later.