...How To Guide Banking The Banking area is where you manage transactions related to your bank accounts. This includes money you spend and receive, and payments to suppliers and customers. You can choose to import your bank transactions into MYOB Essentials and work with them directly using bank feeds. This lets you allocate bank transactions directly to MYOB Essentials accounts, or match them to transactions you've already entered, saving you loads of time on data entry. If you know who you'll be making transactions with, make sure to set them up as contacts so you can easily add them to payments in the future. MYOB Essentials will securely import your transactions directly from your bank, so you don't have to. You can link bank feeds to whichever account or card you want your transactions to appear in. If your bank doesn't offer bank feeds, you can also save time by uploading your electronic bank statements. This will let you work with transactions in the same way you would if you had bank feeds Create contacts Contacts are how you keep track of your customers, suppliers and personal contacts in MYOB Essentials. By adding someone as a contact, you’ll be able to store and view information about them, and track and analyse their transaction history. You need to create a contact if you want to: * create invoices and keep track of how much customers owe you * create bills and keep track of how much you owe suppliers * Record a contact’s name, address or other...
Words: 1975 - Pages: 8
...0BAFI Business Finance Exam Solutions Semester 3 2010 Section B Q. 1 Explain in simple terms what you would need to know and how you would go about determining the interest and principal components of a loan repayment. To determine the interest and principal components of a loan repayment you would need to know the following: Present value (PV) – the amount outstanding on the loan, r – the discount or interest rate applicable to the loan, n – the number of payments to be made on the loan, PMT – the periodic payment (annuity) to be made on the loan. Using the PV of an annuity formula: you would find the amount of the loan outstanding at a point in time, i.e. the loans PV. From this you would multiply the amount outstanding by the interest rate per period (r) to find the interest component of the PMT. You would then subtract the interest component from the PMT and this would give you the portion of the payment going towards repayment of the principal. Q. 2 Five years ago Chris entered into a loan agreement to borrow $200,000 and repay the loan over 20 years through equal monthly instalments. If the interest rate was fixed at 8% p.a. for the entire term of the loan, what is the amount of each monthly instalment: PVo = $200,000, n = 20 years x 12 payments per year = 240, r = 8% p.a./12 compounding periods per year = 0.00667, PMT = ?. Use PV of an annuity formula: Q. 3 Club Auto Parts’ last dividend, D0, was $0.50, and the company expects...
Words: 3703 - Pages: 15
...Student Particulars |Name | |Mavitrani a/p Madana Sriramulu | |IC Number | |920304085392 | |Student Number | |SCSJ-0008579 | |Course | |Diploma In Accountancy | |Subject Title | |Information Technology | |Subject Code | |3IS0212N | |Mode of Study | |Full-Time ( Part-Time ( Independent Learning ( E-Learning | |Name of Lecturer | |Mrs.Renne | |Due Date | |4th November 2011 | |College | |SEGI College Subang Jaya | |Declaration by student: | |I, Mavitrani, hereby declare that the attached assignment is my own work and understand that if I am suspected of plagiarism or ...
Words: 2344 - Pages: 10
...statutory audit. The company hired an auditor to audit the financial statement but the auditor wish to qualify the report because of some unresolved issue. The company was incorporated 2004. The company had maintained a lean organization with basic functional. Encik Zayed hires mostly his family member although they have a low qualification. The company use MYOB system and manually produced sales document. The company pay salary weekly to the worker and the employee prepared the time card. The auditor have problem to complete the audit due to incomplete information and record. Cik Amy the new worker as the finance executive analyse the situation and try to help the auditor although the company have many problem. Problem Faced by Delima The Delima Enterprise Sdn Bhd had many problems such as lack of fund to start the contract in the 6 month duration. The company also have a serious management problem because Puan Hashimah and Encik Zayed have no knowledge in handling the company and they treated it like sole proprietor business. The company also doesn’t have Standard Operating Procedure (SOP) and the MYOB system is not integrated and cause them manually produce the sales documents. The employee also prepared their own time sheet which can cause fraud. The company is also unorganized with unrecorded asset and late payment from debtor. The company also doesn’t have project budget and no...
Words: 1011 - Pages: 5
...BSBFIM601A Manage finances Submission details Candidate’s Name | | Candidate’s ID number | | Assessor’s Name | | | | Assessment Date/s | | Time/s | | Instructions to Students 1. You must accurately complete the Student Assessment Pack. 2. Your Assessor may want to discuss written answers with you to get further evidence of your understanding and to check that it is your original work 3. You need to submit Assessment Cover Sheet for each assessment. 4. You are permitted to use dictionaries and to seek support, as required. 5. Where your work has been deemed as unsatisfactory, you will be permitted to resubmit the assessment. Refer to RGIT reassessment policy and procedure. 6. Unless the assessment task specifically allows pair work or group activities such as brainstorming, you must submit their own original work and are not permitted to copy the work of other students. Plagiarism is never acceptable. 7. Assessments must be submitted on their due dates. 8. Extensions are permitted in consultation with the trainer. Performance objective For this task you are required to respond to a range of prompt questions that examine your understanding of key legislative and financial management requirements for a case study organisation. This assessment also requires you to review available financial information and establish a budget for the organisation. Introduction I am making a budget plan and am going to recommend financial managing...
Words: 955 - Pages: 4
...ACC203 ACCOUNTING INFORMATION SYSTEMS T0214 Section 1: General Information 1.1 Administrative details: |Associated HE Award(s) |Duration |Level |Subject Coordinator | | B Bus (Accg); B Bus (Mgt & Finance) |1 trimester |Level 2 | Richard Chang | | | | |richard@koi.edu.au | 1.2 Core / elective: This is a core subject for B Bus (Accg) and an elective subject for B Bus (Mgt & Fin) 1.3 Subject/unit weighting: Indicated below is the weighting of this subject/unit and the total course points. |Subject Credit Points |Total Course Credit Points | | 4 |BBus(Accg) 96; BBus (Mgt & Finance) 96 | 1.4 Student workload: Indicated below is the expected student workload per week for this subject/unit: |No. timetabled hours/week* |No. personal study hours/week** |Total workload hours/week*** | |4 hours/week |5 hours/week |9 hours/week | |2 hour Lecture + 2 hour Tutorial...
Words: 3902 - Pages: 16
...and learn the basics in a day! We take you through the latest version of MYOB AccountRight Plus in a hands-on, interactive classroom setting designed to make the day informative and enjoyable. You'll cover areas such as: * Setting up a chart of accounts * Setting up a datafile * Daily banking * Invoicing * Sales & receivables * Purchases & payables * Writing cheques/making deposits * Payroll * GST/BAS * Reporting * Emergency response - getting your books up to date, and working with your accountant to get accurate figures to present to the ATO * Start-up services - setting up your accounting software, chart of accounts, and recording all those records that were going to be done 'one day' * Maintenance services - ongoing support and maintenance, with a full financial management service, including updating of your accounting software as required, and presenting those finance reports which make it easier for you to do business. We do: * Accounts payable and receivable (particularly chasing those slow payers!) * Payroll and superannuation * Budgets and cashflow * BAS / PAYG / IAS returns * Account reconciliations and financial reports * Setting up chart of accounts, classes and jobs, so that you can track your clients, your income and your expenses on a job-by-job basis We work with: * QuickBooks * MYOB (Account Right) * MSExcel (especially generation of charts and tables...
Words: 280 - Pages: 2
...De La Salle Lipa College of Business Economics, Accountancy, and Management Accounting Software: Boon or Bane A Term Paper Presented to Dr. Josephine Magbojos CEAS, English Department In partial Fulfillment of the Requirements for Comski2 2014 by Briones, Kristine Norien Resma, Maria Angelica F. Abstract The development of technology brought many changes in the accounting world and the development of accounting software is one of its biggest contributions. Accounting softwares are beneficial for a business and a company for it to produce a financial report faster and easier. The use of different programs for the calculations and reporting made its way to no more manual accounting which is more complicated to do. To maximize the benefits of its uses the advantages and disadvantages of these softwares must be identify before using it. Hence, with proper knowledge of its positive and negative effect, a business or an auditing firm will be able to properly utilize its functions that will then produce financial reports which are essential to the company’s economic decision making. Technology has been an integral part of everyone’s daily lives. Different machineries, gadgets, softwares, and equipment have changed the ways of living of the Filipinos. These things ease the job of a worker, helps a student do home works and research faster, and a mother do household chores. Many developed softwares that are useful for the management of the organization. Like...
Words: 2256 - Pages: 10
...SUMMARY Delima Enterprise is founded in 1981 by Encik Zayed. The main activity of Delima Enterprise is conducted trading and supplying related products including manpower supplies to the oil and gas industries. The company activities had expanded into provision of engineering services. Due to encouraging business growth in 2004, the Delima Enterprise was incorporated as Delima Enterprise Sdn Bhd. Since 2006, the company awarded with several engineering projects and its cumulative revenue for 2004 is RM1 million and RM1.7 million for 2005. The company is family based company and most of them only have secondary school background. They do not familiar with the audit. They also did not familiar with Accounting Standards and the provision of the Companies Act. The company also consists from the non experiences staff of their job. In May 2006, the company had employed Cik Amy graduated from a local university with no job experience. Encik Zayed is a principal shareholder and controlling director. In May 2006, the company had secured a contract worth RM 750,000 to be implemented over duration of six month. Due to shortage funds, Delima Enterprise Sdn Bhd wants to make banking facilities from Malayan Banking Berhad and CIMB Bank Bhd. The bank required company’s Audited Financial Statements for the last two years. From the requirements, Encik Zayed realized that company did not perform any statutory audit before. In July 2006, they engaged with the external Auditor Aziz & Co (Chartered...
Words: 3152 - Pages: 13
...Section 2 Develop Team Cohesion and Facilitate Teamwork Page 41 Time/Distance/Number/Events are all measure of Quantitive data? Give an example of this working in your current workplace (3 sentences max). What will you measure? How will you measure it and analyse the results? Page 42 People’s opinions are measures of Qualitive data? Page 43 Communication could happen where eg meetings. Give four other examples Page 44 List five good role model examples Page 46 What is a good way to give constructive feedback? (three sentences) Good way is to Delivering a feedback sandwich,that's mean * Beginning feedbacks with a possitive comment. * Delivering negative feedback in the middle. * Ending by giving additional positive feedback. Give four reasons that people change their behaviour * When delivering bad news by positive fedback. * Team member begine to fear praise * Avoid all form of feedback * Additional negative feedback. Page 47 How do you feel when you are told you are not good? For sure at the beginning I feel bad but this negative feeling improves me and makes me better than previous. How do you feel when you are told that what you did was not good? I am felling better than above because at this point I am focusing on the problem and not on myself.It makes me watch the problem of the edge ,recognize mistakes and improve next time. Page 48 When a problem appears, we should (pick one of the following): immediately...
Words: 961 - Pages: 4
...Kirsten Yu – March 5th, 2014 Reading the Brothers Grimm to Jenny Context Response As I read this poem the first time through, I assumed that whoever was talking was a male. The reason I believe that it is a man retelling this is because the title of the poem says “Reading the Brothers Grimm to Jenny”. However, no matter the gender, it is someone that Jenny looks up to. It is evident in the line “you insist I have the golden key” that Jenny admires the author. However, the author believes that he hasn’t done a good job of preparing her for the future. The author believes that they’ve forced her in to thinking of a pleasant and fantasized world where nothing can go wrong. However, she will eventually have to understand that life is not so and has to face reality. The author understands that she has to “live with power and honour circumstance[s]”. Jenny’s heart is pure, and the author is afraid of how she will react when she is exposed to reality. She’s been penetrated with thoughts that life is perfect, and when mistakes are made, they are fixable. Some examples of tales that have been told to Jenny include: “birds speak the truth”, “beauty proves a royal mind”, and that “death is a small mistake, where [a] kiss revives”. At the end of his list of tales, he says “Jenny, we make just dreams out of our unjust lives”, which clearly means that we only make up fantasies to fulfill a bit of hope and happiness because we suffer through stressful lives. Overall, I...
Words: 763 - Pages: 4
...EasyPC Training Accounting Basics Business & Administration Contents Accounting Basics .............................................................................................................. 3 The Accounting Equation ................................................................................................. 3 Assets.................................................................................................................................. 3 Liabilities............................................................................................................................. 3 Owner’s Equity................................................................................................................... 3 The Balance Sheet .............................................................................................................. 5 Double Entry Bookkeeping............................................................................................... 6 Ledger Accounts................................................................................................................ 6 Trial Balance ...................................................................................................................... 7 Profit and Loss account.................................................................................................... 8 Sales................................................................................................................
Words: 1785 - Pages: 8
...The adoption of cloud based accounting information system in business I. Introduction Accounting information system is playing an important role in the business operation, and the cloud computing has a great impact on the revolution of accounting information system. This research paper aims to discuss the new trend of cloud based accounting information system in business. The whole text is divided into three parts: First part gives an overview of the cloud computing and accounting information system; second part analyses the benefits and challenges of the accounting information system's move to the cloud; and third part gives the recommendations on key success factors of the adoption. II. Cloud-based accounting information system overview i. Cloud computing According to the definition given by the NIST (National Institute of Standards and Technology), “Cloud computing is a model for enabling ubiquitous, convenient, on-demand network access to a shared pool of configurable computing resources (e.g., networks, servers, storage, applications, and services) that can be rapidly provisioned and released with minimal management effort or service provider interaction. This cloud model is composed of five essential characteristics.” The NIST also identified the following five essential characteristics that cloud computing has: (i) “On-demand self-service”. With the time and network stored in the cloud server, cloud computing dramatically reduces consumer’s human interaction with...
Words: 1746 - Pages: 7
...Ho Man Lan, Eva evaho1993@gmail.com Flat 2515, 25/F, Lei Hing House, Lei Yue Mun Estate, Yau Tong Contact Number: 65706463 EDUCATION Hong Kong Shue Yan University Expected 2016 Bachelor of Accounting GPA:2.76 St. Catharine’s School for Girls, Kwun Tong 2012 Hong Kong Advanced Level Examination (2012) Pass in 5 Subjects Hong Kong Certificate of Education Examination (2010) Pass in 8 Subjects: Chinese Language (4), Principle of Account (B), Economics (C) and Religious Studies (C) WORK EXPERIENCE 快達會計 (Internship) July – Sept. 2014 Part-time Account Clerk • Data entry • Simple Audit work • Preparation of: • Sales summary & Purchase summary • Bank Book • Trial balance and other relevant documents Kanbo July – Aug. 2013 Part-time Clerk • Data-Entry • Physical Stock Taker Wui Sing Sept – Dec. 2012 Part-time Tutor • Assist students with their academic studies. • Help them improve their grades and performances on exams and tests. B-DUCK July to Aug. 2012 Part-time Sales • Assist customers in selecting products. • Answer their questions about the products. • Keep a check on the inventory, saled goods. Tonkichi...
Words: 288 - Pages: 2
...TABLE OF CONTENT Introduction 3 Stakeholders and their stakes 4 Case analysis -Issues, impacts and improvements 5 Conclusion 11 1. INTRODUCTION 1.1 CASE SUMMARY Delima Enterprise was founded in 1981 by En Zayed. The main business are trading and supplying related products including manpower supplies to the oil and gas industries. The enterprise was incorporated in 2004 as Delima Enterprise Sdn Bhd with En. Zayed and his wife, Puan Hashimah as the controlling directors and two principal shareholders. This case is about Delima Enterprise which wants to make banking facilities from Malayan Banking Berhad and CIMB Bank Berhad. The banks required company’s Audited Financial Statements for the last two years. From the requirement, Encik Zayed and Puan Hashimah realised that the company did not performed any statutory audit before. So, they engaged with the external Auditor Aziz & Co. (Chartered Accountant). The auditor need to performed statutory audit for the period 2003 to 2006. There are some mistakes happened during the last two years founded by the auditors. To resolve several issues, the auditors need to qualify the Financial Statements. However, Encik Zayed and Puan Hashimah tried to negotiate with the auditor to not qualify the Financial Statements. The auditor was not agreeing with the Encik Zayed negotiation and he planned to terminate the auditor appointment. Encik Zayed also...
Words: 2609 - Pages: 11
