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NAME OF STUDENTREGISTRATION NO.

UNIT TITLE Unit 11: Financial Systems and Auditing

ASSIGNMENT TITLE Accounting and Management Control Systems

ASSIGNMENT NO 1 of 2

SUBMISSION DEADLINE Oct 24, 2009

I, ___ hereby confirm that this assignment is my on or! and not co"ied or "lagiari#ed from anysource$ I ha%e referenced the sources from hich information is obtained by me for this assignment$

________________________________ _________________________

Signature &ate

----------------------------------------------------------------------------------------------------------------F'( 'FFICIA) US*

ASSIGNMENT GRADE

1

NATIONAL ECONOMICS UNIVERSITY

BTEC HND IN BUSINESS AND MANAGEMENT

Assignment !"e# S$eet

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Unit outcomes

O%tc!me E"i&ence '!#t$e

c#ite#i(

Fee&)(c* Assess!#+s&ecisi!n

Inte#n(e#i'ic(ti!n

Evaluate the

effectiveness of

accounting systems

within a business

(Unit 11, 1)

Explain the

purpose and useof the different

accounting

records

(

Explain the

importance andmeaning of the

fundamentalaccounting

concepts

)

Assess the

factors whichinfluence the

nature andstructure of

accountingsystems

c

Analyse the

management

control systemsof a

business

(Unit 11, 2)

Identify thedifferent

components ofbusiness risk

(

Describe andevaluate the

control systemsin place in a

business

)

Assess the risk

of fraud withina business, and

suggestmethods for

detection offraud

c

Me#it g#(&es ((#&e& M/ M2 M

Distincti!n g#(&es ((#&e& D/ D2 D

1#!'ess!#+s (&&iti!n( 'ee&)(c* (n& c!mments

2

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OMMON SILLS 3 OM1ETENIES ASSESSED in&ic(te& )5 67

A. MANAGING 3 DEELO1ING SELF D. MANAGING TASS 3 SOLING 1ROBLEMS1 !anaging own roles " responsibilities X 1# $se information sources X# !anage own time in achieving ob%ectives X 1& Deal with a combination of routine " non'routine tasks

& $ndertakes personal and career development 1( Identify " solve routine " non'routine problems( )ransfer skills gained to new*changing situation

E. A11L8ING NUMERA8

B. ORING IT: 3 RELATING TO OT:ERS 1+ Applying numerical skills and techniues

+ )reat others beliefs and opinions with respect

- .elate " interact effectively with individuals " groups F. A11L8ING TE:NOLOG8/ 0ork effectively as a team member 1- $se a range of technological euipment and systems

. OMMUNIATING G. A11L8ING DESIGN AND REATIIT8 .eceive and respond to a variety of information X 1/ Applying a range of skills and techniues to develop a variety of

ideas in the creation of new*modified products, services or situations2 3resent information in a variety of visual forms

14 5ommunicate in writing X 1 $se a range of thought processes

11 3articipate in oral " non'verbal communication

+

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FOR OFFIIAL USEComments y Assessor

!mm!n S*is G#(&e

A B D E F G

Assignment- . /ell0structured(eference is done "ro"erly should be done -if any.

'%erall, you%e

A#e(s '!# im;#!"ement;(in t$e ;%#;!se (n& %se !' t$e &i''e#ent (cc!%nting #ec!#&s

First of all, the riter ill define the accounting record:

4he records !e"t by a com"any to com"ly ith the Com"anies Act -189?., hichre

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subsidiary ledger-s. and S(e &(5 )!!* @ a boo! of first entry for sales in%oicesissued to customers for goods su""lied or ser%ices renderedB entries from this;ournal are "osted to indi%idual customer accounts, their totals are "osted to theledger as a debit to accounts recei%able and as a credit to sales$.

1%#c$(se D(5 B!!*

4he urchase &ay oo! records all the in%oices it recei%es under the folloingheadings: date su""lier "urchase ledger folio -reference to the "age number of the "urchase ledger, in a

manual system. total amount in%oiced "urchases analysis of "urchases -eg$ tele"hone, electricity, etc$.4he in%oice number is not recorded because this is a record of other "eo"lesin%oices, hich ill ha%e all different numbers$

S(e D(5 B!!*

4his is the boo! of "rime entry for credit sales, here all credit sales of the day arelisted and totalled$ 4he total is then used as a single "osting entry to the sales ledgerand also "osted to a sales control account in a single total to tally ith the underlyingsales ledger$ =oe%er, indi%idual debits are "osted se"arately in the res"ecti%e salesledger -or debtors or recei%ables ledger accounts.$ An e@cer"t might loo! li!e this:

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(s$ B!!*