Accounting, Accountability and Society

Part A – Processing transactions using MYOB and preparing reports & reconciliations

Part B – Theoretical questions

PART A:
Part A requires you to:
• process your transactions from Stage 1 using MYOB
• print final reports
• reconcile the differences between your Stage 1 and Stage 2 final reports

Further information on Part A can be found from page 2 onwards in this document.

PART B:
Part B requires you to answer the following questions:
(i) Describe what the term ‘earnings management’ means.
(ii) Briefly explain how accrual accounting is linked to earnings management.
(iii) Provide an example of how earnings management could be undertaken in your hypothetical business in the Business Design Project.
(iv) In terms of depreciation of non-current assets, describe two instances where professional judgment of the accountant needs to be applied.
(v) Provide one example of how accounting can impact on human behavior / society in the context of your hypothetical business.

PART A (continued):
For this project you do not have to purchase the MYOB software. To access version 19 ED of MYOB you need to install and access myDesktop on your computer via the RMIT website. For further details about myDesktop go to http://www1.rmit.edu.au/students/mydesktop. Once installed, you can access the necessary software and do not need to purchase it.
NOTE: Once you are in myDesktop, you will need to open an internet browser and login to myRMIT so that you can access blackboard.
From blackboard, you will need to save the MYOB data-file available for stage 2 – save it to your personal RMIT drive or save the file to cloud storage.
You then need to find the MYOB Account Right Plus ED software on my Desktop and open the MYOB software………

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