Based on our experience after learning UBS system, there are many cases that we will find to do a transaction. Different companies have different kind of sources of documents.Some companies have all the data or information that an accountant needed to do a transaction for financial statement and balance sheet but some of them sometimes do not have all the documents or information that we needed. As an accountant, we suppose to know how to overcomes all the problem. For an example, documents for electricity expenses is not available due to the lost of documents. Assumptions figure is used based on the interview with the owner of the company on how much usually they spend for the electricity and ask whether on that particular months the expenses are increases or decreases.
Information or data not available
The information or data not available is actually will effect the accountant during performing their job. For an example, Pizza Hut company have many employees and some of them like to do part time job to gain more income but Pizza Hut company did not record the part time expenses salaries that they give to the employees. They just record the monthly salaries paid to the employee. In this case, if the information or data of part time expenses salaries is not informed to the accountant, it will effect the financial statement. This is because there will be excessive expenses that the accountant can't find from where it comes because there are no supporting documents that record their expenses. Assumption figure is used based on the collecting all the supporting document and ask the in charge person of Pizza Hut company to record back all the expenses of part time salaries as a prove of their expenses.
New information that need to be inform
As we know, all the companies have the same mission which is to maximize profit and minimize their cost. The different between all the business companies are whether they operate their companies by selling product or service. There are some companies such as Takaful Insurance and Am Bank sell their service but some of companies sell their product such as Giant and Tesco. Not only that, there are also a company that sell product and service at the same time such as Auto-mobile service where they sell their service and at the same time they also sell the accessories for the cars. There is some problems will arise for the accountant to record all the transaction for the Auto-mobile company because the company have two different kind of business. The problem for them is when they want to enter the batches for the company whether they should separate the sales of they should combined the sales. Assumption figure is used by enter two kind of batches which the first one is SALES- for the product sell and SALES(SERVICE) - for the service sell. Which means that the information assist should be inform so that if the new accountant want to refer back their financial statement, they will know where the sales come from.
EIGHTH CLASS
-LESSON 3-
The new skill for this class is Entering Closing Stock Value of RM48,218.95.
Go to G6. Maintain Stock Value -> click Add-> BS a/c-> click 10x ( the amount can be appear at the box). Then OS a/c and CS a/c... do the same way.
After that, key in at This Year Opening Stock the amount of Closing Stock Value of RM48,218.95.
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