Financial Systems and Auditing

|NAME OF STUDENT |Hoang Ngoc Bich |
|REGISTRATION NO. |3052 |
|UNIT TITLE |Unit 11: Financial Systems and Auditing |
|ASSIGNMENT TITLE |Accounting and Management Control Systems |
|ASSIGNMENT NO |1 of 2 |
|SUBMISSION DEADLINE |Oct 26 2009 |

I, ____Hoang Ngoc Bich_______ hereby confirm that this assignment is my own work and not copied or plagiarized from any source. I have referenced the sources from which information is obtained by me for this assignment.

____________________ _____26th October 2009______

Signature Date

Table of content

I. Introduction 2

II. The purpose and use of different accounting records 2

A. Source data 4

B. Book of Prime Entry 4

C. Ledger account 6

D. Financial statement 8

III. Computerized accounting system 9

IV. The importance and meaning of the fundamental accounting concepts 10

A. Going concern concept 10

B. Prudence concept 10

C. Accruals concept 11

D. Consistency concept 11

V. Factors which may influence the nature & structure of accounting systems 12

VI. Business risks and recommendations 14

A. Purchase cycle 15

B. Inventory cycle 16

C. Sales cycle 17

VII. The control sys‎tem 17

VIII. Assess the risk of fraud and prevention 21

Reference………………………………………………………………………………………25

Introduction