Clover Cellars: An Accounting Practice Set Using MYOB Accounting Plus v.14

Clover Cellars using MYOB is a two-way accounting practice set for completion manually, using Excel or using MYOB v.14 software. A Quickbooks version is also available.

Students undertaking the manual/MYOB version first will achieve a thorough grounding in the accounting process while the Quickbooks version introduces students to a general business package. The perpetual stocktake system is used and no prior knowledge of MYOB is assumed. Students are also provided with full background information about the business.

Completion of this practice set will help introductory students of accounting enhance their understanding of:

- the accounting cycle

- the chart of accounts

- recording transactions

- identifying transactions from original source documents

- recording transactions in the general and special journals

- double-entry accounting

- posting transactions from journals into the general and subsidiary ledgers

- preparation of a trial balance

- end-of-period adjustments

- preparing a bank reconciliation statement

- closing entries

- compilation of financial information on a worksheet

- preparation of accounting reports, including the profit and loss statement and balance sheet

- preparing a post-closing trial balance

- exposure to real-world computerised accounting systems