Main description:

"Sound Bytes Electronics" will help students gain an overall understanding of how accounting information is recorded in journals and transferred between journals, ledgers, sub-ledgers and inventory records, and then used in financial statement preparation to help managers in making decisions for the future. "The Practice Set" will take the student through a one month accounting cycle and the student will fill the role of the accountant for the Proprietorship. The set will take 6-10 hours to complete and will include all source documents such as invoices, cheques, sales receipts, etc. The student processes the transactions, completes the worksheets, journal entries, special journals, and prepares a trial balance and the financial statements for the first quarter. This is a manual practice set that can be converted to a computerized set through the instructions provided for Simply Accounting.