Mahasiswa mampu membuat laporan dengan melengkapi siklus akuntansi sampai dengan menyusun income statement dan balance sheet

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Accounting Systems and

Internal Controls

6542– SRI HANDAYANI, SE, MM, MAk, CPMA

PROGRAM STUDI MANAJEMEN & AKUNTANSI FAKULTAS EKONOMI DAN BISNIS

UNIVERSITAS ESA UNGGUL

FEB103

PENGANTAR AKUNTANSI I +

LAB

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Mahasiswa mampu memahami Sistem Akuntansi dan Internal Controll

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Mahasiswa mampu membuat laporan dengan melengkapi siklus akuntansi

sampai dengan menyusun income statement dan balance sheet

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Chapter

5 Accounting Systems and

Internal Controls

Accounting, 21st_Edition

Warren Reeve Fess

PowerPoint Presentation by Douglas Cloud

Professor Emeritus of Accounting Pepperdine University

Task Force Image Gallery clip art included in this electronic presentation is used with the

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Some of the action has been automated, so click the mouse when you see this

lightning bolt in the lower right-hand corner of the screen. You can point and

click anywhere on the screen.

Some of the action has been automated, so click the mouse when you see this

lightning bolt in the lower right-hand corner of the screen. You can point and

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1. Defne an accounting system and describe its implementation.

2. List the three objectives of internal

control, and defne and give

examples of the fve elements of internal control.

3. Journalize and post transactions in a

manual accounting system that uses subsidiary ledgers and special

journals.

Objectives

After studying this chapter, you should

be able to:

After studying this chapter, you should

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4. Describe and give examples of

additional subsidiary ledgers and modifed special journals.

Objectives

5. Apply computerized accounting to the revenue and collection cycle.

6. Describe the basic features of

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Basic

Accounting

System

Basic

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Implementation

Design

Analysis

F E

E D

B A

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Objectives of Internal

Control

Objectives of Internal

Control

1. assets are safeguarded and used for business purposes. 2. business information is

accurate.

3. employees comply with laws and regulations.

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1. Control environment 2. Risk assessment

3. Control procedures 4. Monitoring

5. Information and communication

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1. Control environment

2. Risk assessment

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Management philosophy and operating style influences the

control environment.

Management philosophy and operating style influences the

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1. Control environment

2. Risk assessment

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Once risks are identified, they can be analyzed to estimate their significance, to assess their likelihood of occurring, and to determine actions that will minimize them.

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3. Control procedures

4. Monitoring

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Control Procedures

 Competent Personnel

 Rotating Duties

 Mandatory Vacations

 Separating Responsibilities for Related Operations

 Separating Operations, Custody of Assets, and Accounting

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Control Procedures

 _{Rotating Duties}

 Separating Responsibilities for

Related Operations

 Separating Operations, Custody of Assets, and Accounting

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Separating

Responsibilities for

Related Operations

Separating

Responsibilities for

Related Operations

1. Orders may be placed on the basis of

friendship with a supplier, rather than on price, quality, and other objective factors. 2. The quantity and quality of supplies

received may not be verifed, thus causing payment for supplies not received or poor-quality supplies.

3. Supplies may be stolen by the employee. 4. The validity and accuracy of invoices

may be verifed carelessly.

Otherwise, the

following abuses are

possible:

Otherwise, the

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Control Procedures

 _{Rotating Duties}

 Separating Responsibilities for Related Operations

 Separating Operations,

Custody of Assets, and Accounting

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Independent

check

Independent check

Custody of Assets

Accounting Operations

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3. Control procedures

4. Monitoring

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Clues to Potential Problems

1. Abrupt changes in lifestyle.

2. Close social relationships with suppliers. 3. Refusing to take a vacation.

4. Frequent borrowing from other employees.

5. Excessive use of alcohol or drugs.

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1.Missing documents or gaps in transaction numbers.

2.An unusual increase in customer

refunds.

3.Diferences between daily cash

receipts and bank deposits.

4.Sudden increase in slow

payments.

5.Backlog in recording transactions.

Warning signs from the accounting system:

Clues to Potential Problems

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Cash 11

Accts. Pay. 21

General Ledger

Accts. Rec. 12

Supplies 14

General Ledger and Subsidiary Ledgers

Accounts Receivable Subsidiary Ledger

A B C D

Customer Accounts

Accounts Payable Subsidiary Ledger

A B C D

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BUYING

SELLING

Special Journals

Providing services on account

Revenue journal

recorded in

Receipt of cash from any source

Cash receipts journal

recorded in

Purchase of items on account

Purchases journal

recorded in

Payment of cash for any purpose

Cash payments journal

recorded in

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The Revenue Journal

All sales on account are recorded in this journal. Each sales invoice is

listed in numerical order.

All sales on account are recorded in this journal. Each sales invoice is

listed in numerical order.

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Revenue Journal

Performed services on credit to MyMusic.com, $2,200.

2006

Mar. 2 615 MyMusicClub.com 2 2 0 0 00

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Revenue Journal

Notice that only one line is required to make the entry.

Notice that only one line is required to make the entry. 2006

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Posting from the Revenue Journal

Revenue Journal

To update the MyMusicClub.com account, the $2,200 debit is posted to the accounts

receivable subsidiary ledger.

To update the MyMusicClub.com account, the $2,200 debit is posted to the accounts

receivable subsidiary ledger.

2006

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Revenue Journal

Accounts Receivable Subsidiary Ledger

Date Item P.R. Debit Credit Balance

MyMusicClub.com

Mar. 22006 R35 2,200 2,200

Posting from the Revenue Journal

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Revenue Journal

MyMusicClub.com

Mar. 22006 R35 2,200 2,200

This procedure is repeated for each posting to the accounts receivable subsidiary ledger.

Posting from the Revenue Journal

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Revenue Journal

Assume that similar entries were journalized and posted during the

month of March.

Assume that similar entries were journalized and posted during the

month of March.

Posting from the Revenue Journal

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Revenue Journal

On March 31, the revenue journal is totaled and ruled.

31 9 6 0 0 00

Posting from the Revenue Journal

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Revenue Journal

Next, the revenue journal’s total

($9,600) is posted to the general ledger.

Next, the revenue journal’s total

($9,600) is posted to the general ledger.

31 9 6 0 0 00

Posting the Revenue Journal Total

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ACCOUNT Accounts Receivable Account No. 12

Balance

Dr. Cr. Date Item Post. _Ref. Dr. Cr.

2006

Mar. 1 Balance 3 400 00

GENERAL LEDGER

31 R359 600 00 13 000 00

Revenue Journal, page 35

Posting the Revenue Journal Total

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By placing the account number here, we indicate that $9,600 has been debited to

Accounts Receivable in the general ledger.

Posting the Revenue Journal Total

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ACCOUNT Fees Earned Account No. 41

Balance

Dr. Cr. Date Item Post. _Ref. Dr. Cr.

GENERAL LEDGER

2006

Mar. 31 R35 9 600 00 9 600 00

Posting the Revenue Journal Total

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Revenue Journal

Placing “41” here indicates that $9,600 has been posted to the credit side of Fees

Earned in the general ledger.

Posting the Revenue Journal Total

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The Cash Receipts

Journal

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All transactions that involve the receipt of cash are

recorded in the cash receipts journal.

All transactions that involve the receipt of cash are

recorded in the cash receipts journal.

The Cash Receipts Journal

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Mar. 1 Rent Revenue 400 400

CASH RECEIPTS JOURNAL

Other Accounts

Post Accounts Receivable Cash Date Account Credited Ref. Cr. Cr. Dr.

Page 14

NetSolutions received $400 cash on March 1 for the month’s rent.

The Cash Receipts Journal

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Mar. 1 Rent Revenue 400 400

During March, NetSolutions collected cash from three customers.

19 Web Cantina 3,400 3,400 28 MyMusicClub.com 2,200 2,200 30 RapZone.com 1,750 1,750

The Cash Receipts Journal

Page 14

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Each account under “Accounts

Receivable Cr.” is posted to the accounts receivable subsidiary ledger.

Each account under “Accounts

Receivable Cr.” is posted to the accounts receivable subsidiary ledger.

Posting the Cash Receipts Journal

Mar. 1 Rent Revenue 400 400

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Mar. 1 Rent Revenue 400 400

Page 14

Web Cantina

Mar. 1 Bal. 3,400

18 R35 2,650 6,050

2006

3,400 2,650

Posting the Cash Receipts Journal

2006

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Mar. 1 Rent Revenue 400 400

Page 14

Posting the Cash Receipts Journal

Web Cantina

Mar. 1 Bal. 3,400

18 R35 2,650 6,050

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The Cash Receipts Journal

After all journalizing and posting to the accounts receivable

subsidiary ledger for the month is complete, the columns are totaled. After all journalizing and posting

to the accounts receivable

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The Cash Receipts Journal

Mar. 1 Rent Revenue 400 400

Page 14

2006

The total “Cash Dr.” column equals the total of the two

credit columns.

The total “Cash Dr.” column equals the total of the two

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Mar. 1 Rent Revenue 400 400

Page 14

Posting the Cash Receipts Journal

The three circled items are posted to the general ledger.

Let’s post Accounts Receivable.

The three circled items are posted to the general ledger. Let’s post Accounts Receivable.

2006

Account: Accounts Receivable No. 12

GENERAL LEDGER

Mar. 1 Bal  3,400 31 R35 9,600 13,000

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Mar. 1 Rent Revenue 400 400

Page 14

Posting the Cash Receipts Journal

2006

Account: Accounts Receivable No. 12

GENERAL LEDGER

Mar. 1 Bal  3,400 31 R35 9,600 13,000

2006

7,350 5,650

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Mar. 1 Rent Revenue 400 400

Page 14

Posting the Cash Receipts Journal

2006

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Posting the Cash Receipts Journal

The $7,750 total in the Cash Debit column is posted to

Cash in a similar manner.

The $7,750 total in the Cash Debit column is posted to

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Posting the Cash Receipts Journal

The $400 credit to Rent Revenue

could have been posted earlier, but posting it at the same time as other

general ledger accounts is proper.

The $400 credit to Rent Revenue

could have been posted earlier, but posting it at the same time as other

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Posting the Cash Receipts Journal

A completely posted cash receipts journal is shown in

the next slide.

A completely posted cash receipts journal is shown in

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Mar. 1 Rent Revenue 400 400

Page 14

Posted Cash Receipts Journal

42

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2006

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Accounts Receivable

Control Account

If the accounts receivable account in the general ledger

only shows summary totals, where are the individual

customer balances?

If the accounts receivable account in the general ledger

only shows summary totals, where are the individual

customer balances?

ACCOUNT Accounts Receivable No. 12

GENERAL LEDGER

Mar. 1 Bal 3,400

31 R35 9,600 13,000 7,350 5,650

31 CR14

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Date Item P.R. Debit Credit Balance

RapZone.com

3/6 R35 1,750 1,750

3/30 CR14 1,750

--Date Item P.R. Debit Credit Balance

Web Cantina

Date Item P.R. Debit Credit Balance

3/2 R352,200 2,200

3/27 R353,000 5,200

3/28 CR14 2,200 3,000

3/1 Bal. 3,400

3/18 R352,650 6,050

3/19 CR14 3,400 2,650



Mar. 1 Bal 3,400

31 R35 9,600 13,000 7,350 5,650

31 CR14

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The purchases journal is designed for recording all

purchases on account. The purchases journal is designed for recording all

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On March 3, 2003, NetSolutions purchased supplies from Howard

Supplies, $600.

Journalizing in the Purchases Journal

PURCHASES JOURNAL

Accts. Other

Post Payable Supplies Accounts Post

Date Account Credited Ref. Cr. Dr. Dr. Ref. Amount

Page 11

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Page 11

To keep the accounts payable

subsidiary ledger current, this entry is posted on March 3.

Mar. 3 Howard Supplies2006 600 600

Accounts Payable Subsidiary Ledger

Date Item P.R. Dr. Cr. Balance

Howard Supplies

Mar 32006 600 600

Posting the Purchases Journal

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Page 11

Accounts Payable and Supplies

will be posted as totals.

Posting the Purchases Journal

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Page 11

On March 7, NetSolutions

purchased supplies from Donnelly Supplies, $420.

Mar. 3 Howard Supplies2006 600 600 7 Donnelly Supplies 420 420

Journalizing in the Purchases Journal

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Page 11

Journalizing in the Purchases Journal

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Page 11

On March 12, NetSolutions purchased office equipment from Jewett Business

Systems, $2,800.

7 Donnelly Supplies 420 420

12 Jewett Bus. Sys. 2,800 Off. Equip. 2,800

Because there isn’t a special column for

Office Equipment, this purchase was recorded under “Other Accounts Dr.”

Journalizing in the Purchases Journal

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Page 11

Now, let’s look at the rest of March’s entries (assume that all postings to the accounts payable

subsidiary ledger have been made).

19 Donnelly Supplies 1,450 1,450 27 Howard Supplies 960 960

Journalizing in the Purchases Journal

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Page 11

At the end of March, all columns are totaled and equality of debits and credits is verified.

Totaling the Purchases Journal

19 Donnelly Supplies 1,450 1,450 27 Howard Supplies 960 960

31 6,230 3,430 2,800

$6,230 = $3,430 + $ 2,800

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The next step is to post to the general journal.

Page 11

12 Jewett Bus. Sys. 2,800 Off. Equip. 2,800 19 Donnelly Supplies 1,450 1,450

27 Howard Supplies 960 960

31 6,230 3,430 2,800

Posting the Purchases Journal

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Page 11

27 Howard Supplies 960 960

31 6,230 3,430 2,800

ACCOUNT Accounts Payable No. 21

GENERAL LEDGER

Mar. 1 Bal 1,230

6,230 7,460

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Page 11

27 Howard Supplies 960 960

31 6,230 3,430 2,800

GENERAL LEDGER

Mar. 1 Bal 1,230

6,230 7,460

31 P11

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Page 11

27 Howard Supplies 960 960

31 6,230 3,430 2,800

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Supplies is posted as a total of $3,430

to general ledger account 21. Office Equipment is posted individually.

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Page 11

27 Howard Supplies 960 960

31 6,230 3,430 2,800

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18

( )

NetSolutions had only one entry in the

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All payments are recorded in the cash payments

journal. NetSolutions makes all payments by

check.

All payments are recorded in the cash payments

journal. NetSolutions makes all payments by

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Let’s make all of the cash payment journal entries

for March.

Let’s make all of the cash payment journal entries

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CASH PAYMENTS JOURNAL

Ck. Post Accounts Payable Cash Date No. Account Debited Ref. Dr. Dr. Cr

PAGE 7

On March 2, NetSolutions paid the rent for March by issuing

Check No. 150 for $1,600.

2006

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PAGE 7

On March 15, issued Check No. 151 to Grayco Supplies on account, $1,230.

2006

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PAGE 7

Let’s post to the accounts payable subsidiary ledger at this time to keep

the creditor’s account current.

2006

Mar. 2 150 Rent Expense 1,600 1,600 15 151 Grayco Supplies 1,230 1,230

Accounts Payable Subsidiary Ledger

Grayco Supplies

Mar. 3 Bal. 1,230

Date Item P.R. Dr. Cr. Balance

1,230 ---

15 CP7

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PAGE 7

On March 21, issued Check No. 152 as payment on account to Jewett Business Systems, $2,800.

2006

Mar. 2 150 Rent Expense 1,600 1,600 15 151 Grayco Supplies 1,230 1,230 21 152 Jewett Business Sys. 2,800 2,800



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PAGE 7

On March 22, issued Check No. 153 as payment on account to

Donnelly Supplies, $420.

2006

Mar. 2 150 Rent Expense 1,600 1,600 15 151 Grayco Supplies 1,230 1,230 21 152 Jewett Business Sys. 2,800 2,800 22 153 Donnelly Supplies. 420 420

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PAGE 7

On March 30, issued Check No. 154 as payment for utility bill, $1,050.

2006

Mar. 2 150 Rent Expense 1,600 1,600 15 151 Grayco Supplies 1,230 1,230 21 152 Jewett Business Sys. 2,800 2,800 22 153 Donnelly Supplies. 420 420 30 154 Utilities Expense 1,050 1,050

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PAGE 7

On March 31, issued Check No. 155 on account to Howard

Supplies, $600

2006

Mar. 2 150 Rent Expense 1,600 1,600 15 151 Grayco Supplies 1,230 1,230 21 152 Jewett Business Sys. 2,800 2,800 22 153 Donnelly Supplies. 420 420 30 154 Utilities Expense 1,050 1,050 31 155 Howard Supplies 600 600

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PAGE 7

The journal is ruled, summed, and verified for equality of debits and

the “Cash Cr.” column.

2006

Mar. 2 150 Rent Expense 1,600 1,600 15 151 Grayco Supplies 1,230 1,230 21 152 Jewett Business Sys. 2,800 2,800 22 153 Donnelly Supplies. 420 420 30 154 Utilities Expense 1,050 1,050 31 155 Howard Supplies 600 600 31 2,650 5,050 7,700

  

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Individual items in the “Other Accounts Dr.” column are posted. Then the totals for “Accounts

Payable Dr.” and “Cash Cr.” are posted.

PAGE 7

2006

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Accounts Payable Accounts Payable

Accounts Payable

Control

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Donnelly Supplies

Date Item P.R. Debit Credit Balance

Grayco Supplies

Howard Supplies

Mar 2 P11 420 420

19 P11 1,450 1,870

22 CP7 420 1,450

Accounts Payable Subsidiary

Ledger

Accounts Payable (Controlling)

GENERAL LEDGER

Mar. 1 Bal 1,230

31 P11 6,230 7,460

31 CP7 5,050 2,410

Mar 1 Bal. 1,230

15 CP7 1,230 0

-- 

Mar 3 P11 600 600

27 P11 960 1,560

31 CP7 600 960

Jewett Business Systems also has a zero balance, so

that account was omitted for space

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Advantages of a Computerized

Accounting System Over a

Manual Accounting System

Advantages of a Computerized

Accounting System Over a

Manual Accounting System

1. Computerized systems simplify the

record-keeping process.

2. Computerized systems are generally more

accurate.

3. Computerized systems provide management

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The Revenue and Collection

Cycle in QuickBooks

The Revenue and Collection

Cycle in QuickBooks

From Exhibit 10, page 203 of textbook

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The Revenue and Collection

Cycle in QuickBooks Continued

The Revenue and Collection

Cycle in QuickBooks Continued

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The Revenue and Collection

Cycle in QuickBooks Continued

The Revenue and Collection

Cycle in QuickBooks Continued

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Advanced Areas Where the

Internet is Being Used for

Business Purposes

Advanced Areas Where the

Internet is Being Used for

Business Purposes

_{Supply chain management (SCM)}

_{Customer relationship management (CRM)}

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