Wedding Bells Boutique

'Wedding Bells Boutique' is a manual accounting practice set. This practice set is designed to give students an understanding of the accounting process and how to prepare a range of typical accounting reports and transactions common to a small businesses. By completing this practice set, students will gain an understanding of the flow of data in an accounting system.

Completion of the practice set for a one month period should ensure a greater appreciation of the...
More Description

'Wedding Bells Boutique' is a manual accounting practice set. This practice set is designed to give students an understanding of the accounting process and how to prepare a range of typical accounting reports and transactions common to a small businesses. By completing this practice set, students will gain an understanding of the flow of data in an accounting system.

Completion of the practice set for a one month period should ensure a greater appreciation of the following:

• The steps in the accounting cycle for a small business
• The use of special journals for processing data more efficiently
• The use of subsidiary ledgers to remove details from the general ledger
• The steps in posting journals to the general ledger and subsidiary ledgers
• The perpetual inventory system
• The bank account reconciliation
• Balance-day adjustments and the general ledger closing process
• How the accounting cycle culminates in the preparation of financial statements
• How the goods and services tax (GST) impacts on accounting.

FEATURES

• Give students 'hands-on' experience at manually keeping a set of accounting records for a small business for at least one accounting cycle
• Give students an appreciation of the perpetual inventory system
• Presents complete accounting cycle and requires students to prepare adjusting and closing entries, worksheets and financial statements.