Part 5

Completing ledger accounts accounts. It is used to record any double entries made which do not arise from the other books of prime entry.

1. The journal (s nht k k ton, nht bin) keeps a record of unusual movements between

Sundry (tp ha) payable: payable to suppliers who have non-current assets. Trade account payable: payable to suppliers who have supplied raw material or goods for re-sale. Example 1.1 pg 89 The correction of errors: errors corrected by the journal must be capable of correction by means of a double entry in the ledger accounts. The error must not have caused total debits and total credits to be unequal. Journal Voucher (chng t) is used to record the equivalent of one entry in the journal.

2. The trial balance (bng cn i): is a list of ledger balances shown in debit and credit

columns.

Balancing ledger accounts: at the end of an accounting period, all debits on the account are totaled and so are all credits. If the total debits exceed the total credits, there is a debit balance on the account If the total credits exceed the total debits, there is a credit balance on the account If the basic principle of double entry has been correctly applied throughout the period, it will be found that the credit balances equal the debit balances in total Errors of transportation is when two digits in an amount are accidently recorded the wrong way round (check by divide the difference by 9) Errors of omission (b qua): means failing to record a transaction at all, or making a debit or credit entry, but not corresponding double entry. Error of principles (nguyn l): involves making a double entry in the belief that the transaction is being entered in the correct accounts, but subsequently finding out that the accounting entry breaks the rules of an accounting principle or concept. Errors of commission (y quyn): are when the bookkeeper makes a mistake in carrying out his or her task of recording transactions in the account.

Compensating (b tr) errors are errors which are, coincidentally, equal and opposite to one another. Suspense account: (ti khon tm thi) is an account showing a balance equal to the difference in a trial balance. This is a temporary account Use and example, pg 95 - 100

3. Methods of coding data Each accounting system has a unique code which is what to be used to identified the correct account for a posting Significant digit codes incorporate some digits which describe the item being coded.

4. Manual and computerized systems

All computer activities can be divided into three processes: input, processing, and output

5. Batch processing and control totals Batch processing is where similar transactions are gathered into batched, and then each batch is sorted and processed by the computer Control totals are used to make sure that there have been no errors when the batch is input. A control total is used to make sure that the total value of transactions input is the same as that previously calculated.

6. Accounting systems (h thng k ton)

The principles of computerized accounting are the same as those of manual accounting See advantages and disadvantages of accounting packages compared with a manual system pg 105 Module (chng trnh n v) is a program which deals with one particular part of a business accounting system.

7. Accounting modules: An accounting package consists of a number of modules which perfom all the tasks needed to maintain a normal accounting function like payables ledger or payroll. In modern system, the modules are usually intergrated with each other.