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Category: Business and Industry
Date Submitted: 06/01/2014 04:51 PM
SYSTEMS UNDERSTANDING AID
ASSIGNMENT SCHEDULE
Acctg. 320B Fall 2010
After the Systems Understanding Aid (SUA) is completed and graded, it is yours to keep and use for future reference. You should mark all parts of the materials as you consider appropriate, except for journals, ledgers and documents. These will be handed in for grading and should include only the information stated in the SUA requirements. It is suggested that journals, ledgers, documents and schedules be neatly prepared in pencil to facilitate corrections. Any type of paper can be used for schedules as long as they are neatly prepared and can be easily read. The penalty for unexcused late assignments (up to 24 hrs.late) is 15 points.
INTRODUCTION TO PROJECT
Instructions are included in the “Instructions, Flowcharts, and Ledgers” booklet (Instructions).
Read pages 3-9 of the Instructions booklet to familiarize yourself with the overall project.
NOTE THAT NOT ALL OF THE PROCEDURES INCLUDED IN THE INSTRUCTIONS, FLOWCHARTS, AND LEDGERS BOOKLET ARE REQUIRED TO BE PERFORMED.
THIS PROJECT HAS BEEN INCORPORATED INTO THE MATERIALS COVERED IN THE TEXTBOOKS AND CLASS LECTURES AND ITS COMPLETION IS ESSENTIAL TO AN UNDERSTANDING OF THE COURSE MATERIALS. THE PROJECT IS NOT OPTIONAL – IT MUST BE SATISFACTORILY COMPLETED TO RECEIVE A COURSE GRADE. THE SUA PROJECT SHOULD BE PERFORMED JUST AS IF IT WAS AN ACTUAL WORK EXPERIENCE.
General Comments
. Do not assume that invoices are paid when received (flowchart procedures notwithstanding.) Only write checks in payment for transactions which clearly state that the invoice is paid.
. The company is not using the Prepaid Expense account in the General ledger. Supplies are being expensed immediately at time of purchase. Do not initial records for any transactions or procedures that are not specifically included in the project (e.g. - bank reconciliation).
. Waren does not ship goods COD. Do not make entries in any places on the Bills of Lading...