Explain how accounting information is documented

Reference no: EM133770287

Accounting Information Systems

Assessment - MYOB Simulation report

Learning Outcome 1: Describe how accounting information systems are used in an organisation for decision making and management support.

Learning Outcome 2: Explain how accounting information is documented, organised and managed through a computer system

Assessment Task Instructions:

This assignment requires to use MYOB Educational trial and follow the below instructions .

Create a new MYOB data file.
Make changes to the Chart of Accounts (add, edit & delete).
Enter opening General Ledger balances.
Record a variety of banking and general journal transactions for the month.
Prepare an end-of the-month bank reconciliation.
Submit display reports for the month.

Context of Assessment:
Ken Long and Peter South have owned and operated a pest control company in Ballarat, Victoria for several years. Both shareholders loaned money to the company and borrowed the remainder from the bank so that they could purchase land, build a warehouse, and buy equipment. The business is registered for GST, and they remit to the Australian Taxation Office quarterly.
You are required to:
Create a new MYOB data file.
Make changes to the Chart of Accounts (add, edit & delete).
Enter opening General Ledger balances.
Record a variety of banking and general journal transactions for the month.
Prepare an end-of the-month bank reconciliation.
Submit display reports for the month.

Required
Print and upload the below reports for 30 July 2023:
Banking reconciliation
Profit & Loss

GST report
Balance Sheet

Reference no: EM133770287

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