Clover Cellars: An Accounting Practice Set With MYOB Option

Abdel Halabi, Monash University
Robyn Dyt, Monash University

An Accounting Practice Set in two versions - Manual and MYOB Accounting Plus Version 14

Clover Cellars is a two-way accounting practice set that includes both a manual version for completion in writing or Microsoft® Excel and a version which uses the MYOB Accounting Plus Version 14 computerised accounting software. Students undertaking the manual version first will achieve a thorough grounding in the accounting process while the MYOB Business Software version introduces students to a general business package. The perpetual stocktake system is used and no prior knowledge of MYOB Business Software is assumed. Students are also provided with full background information about the business eliminating the need for supplementary notes from instructors. This practice set may also be used as an assessable assignment.

Completion of this practice set will help introductory students of accounting to 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
The opportunity to work through a major exercise in MYOB Business Software
Exposure to real-world computerised accounting systems

Additional practice sets -

Amphibian Sounds - (www.mhhe.com/au/wijewardena)

an accounting practice set by Hema Wijewardena (University of Wollongong) based on the periodic stock take system. Can also be completed in Excel.

Pedal Power - (www.mhhe.com/au/pedalpower)

an accounting practice set by Hema Wijewardena (University of Wollongong) based on the perpetual stock take system. Can also be completed in Excel.

Pete's Plumbing - (www.mhhe.com/au/halabi)

an accounting practice set by Abdel Halabi and Robyn Dyt (Monash University) based on the periodic stock stake system. Can also be completed in Excel.

Clover Cellars / Quickbooks version - (www.mhhe.com/au/halabi2)

an accounting practice set by Abdel Halabi and Robyn Dyt (Monash University) based on the perpetual stock stake system. Can be completed in writing, in Excel and / or Quickbooks.

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