Tutor Quora

ACC566 Acc Systems And Processes

Academic Anxiety?

Get an original paper within hours and nail the task

156 experts online

Free Samples

ACC566 Acc Systems And Processes

.cms-body-content table{width:100%!important;} #subhidecontent{ position: relative;
overflow-x: auto;
width: 100%;}

ACC566 Acc Systems And Processes

0 Download2 Pages / 488 Words

Course Code: ACC566
University: Charles Sturt University

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia


Q1 Naming cells in spreadsheets
Create a simple spreadsheet to demonstrate how cell references can use names. Use Sales less Expenses = Net Profit. Show both normal and formula views with row and column headings.
Q2 Negative numbers
Paste a simple spreadsheet example showing how negative numbers can be displayed in brackets. Why do accounting financial reports follow this practice?
Q3 Separation of data and report areas
Why should accounting spreadsheet reports be designed with a completely separate data entry area and a separate report area? Paste a simple spreadsheet example showing normal and formula views.
Q4 IF functions
Reference a YouTube video explaining IF functions. What is an ‘IF’ statement (function)? Provide a simple spreadsheet accounting example showing an IF function for net profit/net loss.
Q5 Periodic versus Perpetual Inventory Systems
Does the Foot video in Interact2 Resources show Periodic or Perpetual Inventory? How can you tell? Explain the essential differences between perpetual and periodic inventory systems. Give your own examples of products/situations suited to each. (Watch the 3 videos on Inventory in Interact2 Resources).
Q6 Worksheet and financial reports
Write a business report critically evaluating spreadsheets as a tool for accounting. Use Internet resources. Include a section on the advantages and disadvantages of spreadsheets. Refer to the Internet for advice on Business Report structures. Reference ALL your sources.
Q7 Application of Inventory flow assumptions
Create a manual, handwritten solution. Scan or use your phone to copy and paste an image of your handwritten solution in your word file. If using a smart phone, consider using a free scanning app such as Camscanner, Office Lens or Google Drive or search for an app. Let us know which method you chose. We ask for a handwritten solution because this is the method you will use in the final exam. In the meantime, we want you to acquire spreadsheeting skills.


Wesfarmers group is a publicly listed based Australian company dealing in diverse businesses. These cover Liquor, hotels, office supplies, home improvement, supermarkets, department stores and more. In 2017 financial year approximately 515000 were the stockholders and 223000 were the employees (Wesfarmers, 2017).   
The report mainly includes the Wesfarmers financial position in 2017 comparing with 2016 financial year which consists all ordinary and extraordinary items.
Wesfarmers Group







Profit after tax



This above table shows that profit after tax of Wesfarmers Group showing an increment of $ 2466 million (that is 605% above) in 2017 financial year as compared to 2016 reporting year.
This income of company is consisted with all the ordinary and exceptional items. Further the company has also reported revenue amounting $68444 million in 2017 year in comparison to 2016 which was $ 65981 million. There is an increment of $ 2463 million in 2017 with that of the previous financial year (2016).
The primary objective of the concern is to provide desired yields to the investors by engendering strong cash flows.  
Wesfarmers has gained below highlighted points in financial year 2017. These are:

In year 2017, The net debt has decreased to $ 4809 million from $ 7103 million in 2016 which means balance sheet have been strengthen by 32.29% in 2017.
In 2017, Operating cash flows were $ 4226 million while in 2016 it was $ 3365 million which means $ 861 million was above from 2016.
Net capital expenditure was lowered by 23.1% from financial year 2016.
Return on equity shareholders were 3.6% above from 2016 reporting period.
Company has declared 223 cents dividend in 2017 financial year whereas 186 cents were declared in 2016 reporting period.
Finance costs and tax expenses were increased to 62.8% as compared to 2016 financial year.
Earnings per share were increased to 254.7 cents in 2017 while it was 36.2 cents in 2016.

Wesfarmers Revenue seat factor of 2017:
In 2017, Wesfarmers group has a revenue of $ 68444 million while $ 65981 million in 2016 which resulted an increment in 600 times.
Dividend per share:
DPS was 223 cents in 2017 whereas in 2016, it was 186 cents.
Return on capital Employed:
In 2017, ROCI was 9.7% whereas in 2016 ROCI was 11.2%.
Net Assets:
In 2017, Net assets were $ 23941 million whereas in 2016 net assets were $ 22949 million.
Earnings per share:
In 2017, EPS was 254.7 cents and in 2016 it was 36.2 cents.
Current Ratio is calculated to find out the short-term soundness of the company. It is calculated as follows: Current Assets ÷ Current Liabilities.


2017 ($ M)

2016 ($ M)

Current Assets



Current Liabilities



Current Ratio [Current Assets/Current Liabilities]



From the basis of above ratio, it has been seen that its short-term solvency is not good because Wesfarmers current assets are less as compared to current liabilities in both years i.e. 2017 and 2016.

Financials of Wesfarmers







Total Revenue









As an investment advisor, it should be noted that in 2017, the company has earned magnificent profits in diverse areas. Further it can be said that Wesfarmers is very good for long term investment because short term assets are not sufficient to meet its dues.
Wesfarmers Annual Report. (2017). Wesfarmers Annual Report 2017 . Retrieved on 08 May 2017 from www.wesfarmers.com.au/docs/default-source/default-document-library/2017-annual-report.pd

Free Membership to World’s Largest Sample Bank

To View this & another 50000+ free samples. Please put
your valid email id.


Yes, alert me for offers and important updates


Download Sample Now

Earn back the money you have spent on the downloaded sample by uploading a unique assignment/study material/research material you have. After we assess the authenticity of the uploaded content, you will get 100% money back in your wallet within 7 days.

UploadUnique Document

DocumentUnder Evaluation

Get Moneyinto Your Wallet

Total 2 pages


*The content must not be available online or in our existing Database to qualify as

Cite This Work
To export a reference to this article please select a referencing stye below:


My Assignment Help. (2020). Acc Systems And Processes. Retrieved from https://myassignmenthelp.com/free-samples/acc566-accounting-system-and-process/perpetual-and-periodic-inventory-systems.html.

“Acc Systems And Processes.” My Assignment Help, 2020, https://myassignmenthelp.com/free-samples/acc566-accounting-system-and-process/perpetual-and-periodic-inventory-systems.html.

My Assignment Help (2020) Acc Systems And Processes [Online]. Available from: https://myassignmenthelp.com/free-samples/acc566-accounting-system-and-process/perpetual-and-periodic-inventory-systems.html[Accessed 18 December 2021].

My Assignment Help. ‘Acc Systems And Processes’ (My Assignment Help, 2020) accessed 18 December 2021.

My Assignment Help. Acc Systems And Processes [Internet]. My Assignment Help. 2020 [cited 18 December 2021]. Available from: https://myassignmenthelp.com/free-samples/acc566-accounting-system-and-process/perpetual-and-periodic-inventory-systems.html.

.close{position: absolute;right: 5px;z-index: 999;opacity: 1;color: #ff8b00;}


Thank you for your interest
The respective sample has been mail to your register email id


$20 Credited
successfully in your wallet.
* $5 to be used on order value more than $50. Valid for
only 1

Account created successfully!
We have sent login details on your registered email.



Are you on the lookout for accounting help? If you wish to gain good grades in the assignments on M.Y.O.B. online, we are the ones to approach. M.Y.O.B. (Mind Your Own Business Australia) has a lot of technical aspects connected to it, which often seem challenging for a beginner. MyAssignmenthelp.com experts provide invaluable assistance by gathering information on cloud computing. If you are looking for appropriate validations, we incorporate graphs, financial reports for M.Y.O.B. help. To ensure that the content is 100% original, we also perform rigorous checking via powerful plagiarism software at our disposal.

Latest Management Samples

div#loaddata .card img {max-width: 100%;

MPM755 Building Success In Commerce
Download :
0 | Pages :

Course Code: MPM755
University: Deakin University

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia

The process of developing a successful business entity requires a multidimensional analysis of several factors that relate to the internal and external environment in commerce. The areas covered in this current unit are essential in transforming the business perspective regarding the key commerce factors such as ethics, technology, culture, entrepreneurship, leadership, culture, and globalization (Nzelibe, 1996; Barza, 2…

SNM660 Evidence Based Practice
Download :
0 | Pages :

Course Code: SNM660
University: The University Of Sheffield

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: United Kingdom

Critical reflection on the objective, design, methodology and outcome of the research undertaken Assessment-I
Smoking and tobacco addiction is one of the few among the most basic general restorative issues, particularly to developed nations such as the UK. It has been represented that among all risk segments smoking is the fourth driving purpose behind infections and other several ailments like asthma, breathing and problems in the l…
Australia Maidstone Management Business management with marketing University of New South Wales Masters in Business Administration 

BSBHRM513 Manage Workforce Planning
Download :
0 | Pages :

Course Code: BSBHRM513
University: Tafe NSW

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia

Task 1
1.0 Data on staff turnover and demographics
That includes the staffing information of JKL industries for the fiscal year of 2014-15, it can be said that the company is having problems related to employee turnover. For the role of Senior Manager in Sydney, the organization needs 4 managers; however, one manager is exiting. It will make one empty position which might hurt the decision making process. On the other hand, In Brisba…

MKT2031 Issues In Small Business And Entrepreneurship
Download :
0 | Pages :

Course Code: MKT2031
University: University Of Northampton

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: United Kingdom

Entrepreneurial ventures
Entrepreneurship is the capacity and willingness to develop, manage, and put in order operations of any business venture with an intention to make profits despite the risks that may be involved in such venture. Small and large businesses have a vital role to play in the overall performance of the economy. It is, therefore, necessary to consider the difference between entrepreneurial ventures, individual, and c…
Turkey Istanbul Management University of Employee Masters in Business Administration 

MN506 System Management
Download :
0 | Pages :

Course Code: MN506
University: Melbourne Institute Of Technology

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia

An operating system (OS) is defined as a system software that is installed in the systems for the management of the hardware along with the other software resources. Every computer system and mobile device requires an operating system for functioning and execution of operations. There is a great use of mobile devices such as tablets and Smartphones that has increased. One of the widely used and implemented operating syste…
Australia Cheltenham Computer Science Litigation and Dispute Management University of New South Wales Information Technology 


Need an essay written specifically to meet your requirements?

Choose skilled experts on your subject and get an original paper within your deadline

156 experts online

Your time is important. Let us write you an essay from scratch

Tips and Tricks from our Blog

11174 Introduction To Management

Free Samples 11174 Introduction To Management .cms-body-content table{width:100%!important;} #subhidecontent{ position: relative; overflow-x: auto; width: 100%;} 11174 Introduction

Read More »