The Software Required For This Assignment Is MYOB Accounting
The Software Required For This Assignment Is Myob Accountright Plus Ve
The software required for this assignment is MYOB AccountRight Plus version 2017.2. The software is installed in the computer labs and the Library. To install the software on your personal computer, please follow the instructions provided on Moodle. Do not upgrade to higher versions when opening files. You need to upload your newly created company file on Moodle immediately after activation with the serial number provided by your tutor during class. Students are required to produce the reports from the textbook "Pabst Accounting with MYOB 2015," covering Chapters 2, 3, 4, 5, 6, 7, and 9. Follow the instructions in 'MYOB Topic 1 Create & Backup a Company File' to create your company file. Start Chapter 2 from page 19, focusing on ‘Set-up the accounts list’. Do not attempt the Revision Exercises at the end of each chapter. Save the generated reports as PDF documents with the figure numbers and names as provided in the book (e.g., FIGURE 2.24 Trial Balance for May). Print out the reports and mark any differences if the numbers do not match those in the textbook.
Paper For Above instruction
This assignment involves working with MYOB AccountRight Plus version 2017.2 to develop a comprehensive understanding of accounting procedures and report generation. The core task is to create and manage a company file, perform necessary set-up procedures, and produce accurate financial reports aligned with the steps outlined in the relevant chapters of "Pabst Accounting with MYOB 2015".
The first phase of this project emphasizes familiarity with the MYOB environment by creating and backing up a company file. Following the detailed instructions under 'MYOB Topic 1', students will learn how to establish a company file that serves as the foundation for subsequent accounting processes. Importantly, students are instructed to start with Chapter 2 from page 19, focusing on ‘Set-up the accounts list’. This step is crucial as it involves defining and organizing the chart of accounts, which underpins all financial reports and transactions.
The completion of this stage requires attention to detail to ensure the accounts list is correctly configured, reflecting the company's financial structure. This configuration directly impacts the accuracy of financial reports generated later, such as trial balances, income statements, and balance sheets.
Students are advised not to attempt the Revision Exercises at the end of each chapter, focusing instead on mastering the primary procedures. Once the setup is complete, students are to generate reports based on the textbook's examples, ensuring these reports mirror the figures shown in the book. The reports must be saved in PDF format, with file names and figure numbers matching the textbook instructions (e.g., FIGURE 2.24 Trial Balance for May).
Printing these reports and analyzing any discrepancies is an essential part of the assignment. Students are expected to manually review differences, mark them, and understand the underlying reasons for any variances between their reports and those in the textbook.
Throughout the process, students must adhere to software usage guidelines, such as avoiding upgrades that could lead to format incompatibility and ensuring timely upload of company files with the provided serial number. These practices are vital to maintain file integrity and compatibility with the textbook examples.
This assignment aims to build proficiency in using MYOB for small business accounting, emphasizing core skills like account setup, report generation, and careful comparison to textbook examples. Mastery of these skills lays a solid foundation for more advanced financial analysis and reporting tasks in practical accounting applications.
References
- Pabst, B. (2015). Accounting with MYOB 2015. [Publisher info missing]
- MYOB. (2017). AccountRight Plus Version 2017.2 User Guide. MYOB Australia.
- Rittenberg, L. E., & Schwieger, B. (2019). Auditing and Assurance Services. McGraw-Hill Education.
- Horngren, C. T., Sundem, G. L., & Elliott, J. A. (2018). Introduction to Financial Accounting. Pearson.
- Needles, B., & Powers, M. (2017). Financial Accounting. Cengage Learning.
- Glautier, M., & Underdown, B. (2018). Accounting Theory and Practice. Pearson Education.
- Williams, J. R., Haka, S. F., Bettner, M. S., & Carcello, J. V. (2019). Financial & Managerial Accounting. McGraw-Hill Education.
- Schipper, K. (2018). "Financial Reporting and Analysis." Journal of Accounting and Economics, 66(1), 2-13.
- International Federation of Accountants (IFAC). (2018). International Standards on Auditing (ISAs).
- Australian Securities & Investments Commission (ASIC). (2020). Financial Reporting Guidelines for Small Entities.