Sports Station - A Computerised Accounting Practice Set Using Myob Version 19

Sports Station is a computerised practice set using MYOB AccountRight Plus V19. This practice set is designed to give students experience in recording a variety of business transactions common to small businesses, so that they will gain an understanding of a computerised accounting system, how it operates, how to set up a data file and enter opening balances, how to record transactions, and how to produce useful reports. This ‘hands-on’ methodology reinforces the students’ understanding of accounting fundamentals typically encountered in practice, and is therefore, suitable for students undertaking a course in accounting or computer-based accounting information systems.

Completion of the practice set for a one month period, should ensure a greater appreciation of the following:

• The steps in a typical accounting cycle for a small business
• The use of subsidiary ledgers
• The perpetual inventory system
• Balance day adjustments
• The bank account reconciliation
• How the accounting cycle culminates in the preparation of financial statements
• How GST is recorded and the effect it has on transactions
• The variety of source documents, and
• How to extract information from source documents to record transactions