Create the MYOB company file for a small business

Assignment Help Managerial Accounting

Reference no: EM132395131

Accounting Practice Set

This accounting practice set is a real world simulation of all of the steps involved over a single month in the accounting cycle of a small electronics store called "The Digital Village". In this context, the word "practice" does not mean a casual attempt but rather an opportunity to demonstrate your accounting skills in your own simulated "accounting practice". This practice set adopts a computerised approach. That means it requires you to complete the accounting cycle using the well-known accounting software package called MYOB.

Before the practice set starts, you will first be taken through a number of pages that contain some general instructions and sample exercises so you can better understand what is expected of you.

By the conclusion of this practice set you will have obtained real-world experience using MYOB to:

Create and setup the MYOB company file for a small business

Record transactions into the accounts of that business

Perform a bank reconciliation

Record adjusting entries

Generate an adjusted trial balance

Prepare a number of financial reports, and

Understand the benefits of using a computerised accounting system, which include the automatic posting of transactions and the built-in internal control measures that prevent records from being deliberately modified.

Attachment:- MYOB practice set.rar

Reference no: EM132395131

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