Accounting Systems and Processes Assignment Help by MBA Writers

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What is Accounting Systems and Processes?

Since Accounting Systems is a major subject for an academic course, most of the students are interested in studying the subject and so many universities furnish this course. Due to the heavy competition among students, the majority of the students faces difficulty and taking more time to understand the concept and that leads the students to score low and unable to finish their Accounting Systems and Process Assignment help before the given time.

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Essential Concepts of Accounting Systems and Processes:

Profit Making Operations

Practicing the basic accounting concepts with different challenges (like – Cost control, Budgeting, cash flow, debt service, pricing strategies and tax planning) will make to achieve more profit on the business.

Accumulation Concepts

Every student who has engaged them with Accounting Systems and Processes should imagine themselves as an entrepreneur and that helps them to understand the subject. That includes the below concepts.

Accounting System
Controls
Cash Flow Management
Overhead and Production Breakouts
Debt Management
Compliance

Moderation Concepts

For a successful business, it is very important to understand each trouble and scenario covered under the course. I.e. managing expenses, income, funding, invoice and other activities involved in the financial process of a business.

You can also Check out Accounting related topics that Maybe help you in your Accounting Assignment Writing Help.

Types of Accounts

If are you an Accounting student, then you should know about the Accounting Types that use in all Accounting equations. Let’s know about it.

Real Account: Real Account is related to properties or Assets.

Tangible Real Account:Assets that can be touched and have physical
Intangible Real Account:This account is calculated in terms of money that contains the value.
Rules for Real Account:Debit what comes in and Credit what goes out.

Personal Account:Personal Accounting indicates a person like Companies, Partnership firms, bodies corporate, etc.

Rules for Personal Account:Debit the Receiver and Credit the Giver

Nominal Account:The Nominal account is related to the income and expenses of a business.

Rules for Nominal Account:Debit all expenses & losses and Credit all incomes and gains

Topics Covered By Our Experts Under Accounting Systems And Processes Assignment Help:

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Accounting Systems and Processes Assignment experts are highly qualified that is all our professionals are PhD holders and they are well versed in handling the below topics.

Accounting Equation: A balance sheet is a main and basic formula used in Accounting that denotes the relationship between the liabilities, assets and equity of a business.
Assets = Liabilities + Equity Accounting Cycle: This is used to track the financial record on yearly basis to develop a business. The accounting cycle includes Transaction, Journal Entries, Posting to GL, Trail Balance, Worksheet, Adjusting Entries, Financial statements and Closing.
Accounting Theory: It is necessary to understand the basics of the financial process of a business. This includes Cost Principle Theory, Matching Principle Theory, Materiality Accounting Theory, Conservatism Accounting Theory and Monetary Unit Assumption Theory.
Balance sheet: The Balance sheet contains the complete financial statement of a business that is calculated using asset, liability and equity.
Batch Costing: It is alike job costing were receiving orders from the customer for different products. Batch Costing is used for the cost of each batch calculation.
Debit & Credit: Debit acts as increasing Asset value and decreasing liabilities values. Credit acts as maximizing the liabilities.

Types of Accounting Systems

Manual Accounting System

The manual accounting system is about maintaining or bookkeeping the records manually (on hand without using a computer). Where the transactions been recorded using journals with the financial statement.

Manual accounting systems are mostly used by small scale businesses or news stared businesses where these do not have more financial entities to make. One of the main advantages of maintaining records in manual accounting is that we don’t need to bother about the power cuts and we can open the book whenever and wherever we need to have the look at it.

Computerized Accounting System

A computerized accounting system is a process of financial transactions and events according to GAAP (Generally Accepted Accounting Principles)that generates reports as requested by the user. The process of maintaining the records of financial transactions and data is called an operating environment that is a combination of software & hardware on which the accounting system been worked on.

Now a day’s computerized accounting systems are maintained using a Database that is like computer programming which is used for storing. The computerized accounting system requires Accounting Framework, Operating Procedure, Front-end interface, Back-end Database, Data Processing and reporting system.

Why Accounting Systems and Processes Important in Business?

The main motive of the Accounting Systems and Processes course is to furnish students to gain knowledge by understanding the main concept to implement the same in this latest business world. This course includes internal controls and Strategic decision making, Problem solving & operations (example: expenditure, transactions, revenue and so on) are used to magnify Risk management, Auditing, Business Processes and Internal Controls. The recent issues like ethics, Data & Information management and security are also included along with the course. Likewise, Accounting is all about maintaining Balance Sheets using the accounting concept.

Take Help from Australian University Website Guidelines for other Information:

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Accounting Systems and Processes As Part of A Course

The Accounting systems and processes is a part of accounting course that is been studied in all the graduations or Diploma or master’s which are related to accounting.

Graduate Diploma in Business (Accounting): This provides the students to focus on a specific area of subject or on a particular career. This course gives students skills in business management and also provides great opportunity by gaining knowledge as well as can shine in their career with a higher salary.

Master of Business (Accounting): This course provides basic business processes, improving knowledge on business activities, managing finance, goods & services. This course teaches students to think about developing the business into the next and smarter way to improve. Major subjects covered in this course are Commerce, marketing, economy and finance.

Students who completed Master of Business (Accounting) will get the opportunity of becoming Business Analyst, HR Manager, Financial Advisor, Management Analyst, Financial Manager, etc.

Master of Professional Accounting: This is the advanced degree for students who need to know more about financial professional or professional accounting. Where the students can provide advisory, insolvency, auditing, budget planning, account management, strategy planning, internal auditing, recovery services to the client, etc.

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