AIN2601_ Exam Papers for October/ November Examinations.

AIN2601_ Exam Papers for October/ November Examinations. Practical Accounting Data Processing. When a primary data field of a database file is entered into another database file to create a relation between the two database files, the primary data field in the other database file is known as a foreign key. A foreign key does not uniquely identify a record and may have duplicates in a database file. The use of foreign keys prevents the duplication of data. 4.4 Account 4.5 The customer is not required to be a registered VAT vendor to purchase from Polka Mazurka. Polka is a registered VAT vendor – all customers will be required to pay VAT on purchases and all payments will be captured in the Bank inclusive column and this raise output on VAT on all sales. 4.6 4.6.1 Setup 4.6.2 Edit 4.6.3 Process Page 2 of 17 4.6.4 View 4.6.5 File 4.7 4.7.1 Balance forward processing 4.7.2 They pay regularly and on time. They only buy once a month (low number of transactions). 4.8 4.8.1 Quotation 4.8.2 Sales order 4.8.3 Delivery note 4.8.4 Sales invoice 4.9 4.9.1 outstanding quotation report 4.9.2 outstanding/open sales order report 4.9.3 credit note analysis reports 4.10 4.10.1 Decrease 4.10.2 Increase 4.10.3 Increase 4.10.4 Decrease Question 5 5.1 =PMT((B$4/12),(B$5*12),$B16,$C16,0)*-1 5.2 =$D16*(1/1.14) 5.3 =MID($A16,7,3) 5.4 =RIGHT($A16,1) 5.5 =VLOOKUP(F16,A$9:C$13,3,TRUE) Page 3 of 17 5.6 =IF($G16="B",2,1) 6 6.1 =ROUND(B$12-(B$12*B$9),0) 6.2 =($B$3*B$13)*$B$4*B$14 6.3 =IF(B$11,B$19*0.115,B$19*0.09) 6.4 =($B$5*B$12*B$14)*-1 6.5 – a password required for opening or reading workbooks – a password required to make changes to the workbook structure – a password required for changing the content in a sheet or cell MJ 2014 Question 3 3.1 The quality of information is directly linked to the quality of raw data entered – in other words, inaccurate data will lead to inaccurate information and incomplete data will lead to incomplete information, which in turn will result in ineffective decisions. 3.2 A database can be defined as an organised collection of related data that is managed and stored electronically and can provide data to different application software in the organisation. 3.3 Advantages: – Data can be accessed, inserted and/or deleted without changing the database structure. – The database structure can be easily customised for most types of data storage. – Data does not need to be duplicated. – Most users easily understand the structure. – It is easy to search for and extract data from the database 3.4 Logical. The CoA must have a logical flow in the major categories, subcategories and the related account number blocks and individual account numbers. For example, the balance sheet accounts will be first, followed by the income statement accounts. The categories, subcategories and the related GL accounts will not be mixed, but follow each other logically. • Consistent. The account number structure and format must be consistent between the accounts used. • Account description. The account description should clearly but briefly explain the nature of the GL account. Page 4 of 17 • Draft. Create a draft structure on paper first before implementing it in the AIS. It is easier to change the draft than the implemented CoA. • Feedback. Obtain feedback from the different role players on the draft CoA. They may have insights you have not yet considered and which could influence the CoA materially. • Sign-off. Obtain sign-off from applicable management on the final CoA before implementing it. 3.5 3.5.1 Primary data field: Each file has a unique data field (known as the primary data field) that can be used to uniquely identify each data record in a database file. A primary data field is also known as a primary key 3.5.2 A 3.5.3 Foreign key: When a primary data field of a database file is entered into another database file to create a relation between the two database files, the primary data field in the other database file is known as a foreign key. A foreign key does not uniquely identify a record and may have duplicates in a database file. The use of foreign keys prevents the duplication of data. 3.5.4 G Question 4 4.1 The menu bar The toolbar The system navigator The explorer 4.2 False 4.3 remark Page 5 of 17 4.4 General Account Number Debit/Credit Amount 8000/000 – Customer Control Account (trades receivable) Credit 9500/000 – VAT Debit 74200 1000/001 – Sales (Sales revenue) Debit 7700/001 – Inventory Debit 2000/001 – Cost of Sales Credit 4.5 4.5.1. Process 4.5.2 View 4.5.3 Setup 4.5.4 Process 4.5.5 Change Question 5 5.1 Supplier Age analysis 5.2 By setting up normal payment terms Phil could establish which accounts are due or overdue. 5.3 The remittance shows balances as per balance forward processing and should be a remittance for open item processing. The open item processing contains more detail than balance forward processing. 5.4 Remittances are useful to help settle account disputes between customers and suppliers. 5.5 Eight 5.6 If a transaction is processed in the wrong accounting period, the financial and business information will be incorrect and this can lead to incorrect decisions being made. It will give rise to incorrect monthly financial information. 5.7 supplier master file, inventory master file, purchase transaction file, VAT reference file, VAT transaction file, general ledger master files. 5.8 5.8.1 490 5.8.2 530 Page 6 of 17 Question 6 6.1 =LEFT(B$11,2) 6.2 =B11&”-“&B13 6.3 =PV(B17,B18,B16,0,1) 6.4 =VLOOKUP(B$19,$D$3:$F$9,3,TRUE) 6.5 =IF((B$12/12)3,$B$4*B$21, $B$5*B$21) 6.6 =SUM(B$21:B$22) 6.7 =B$23+($B$6*B$23) 6.8 =B$24/(1+$B$3) 6.9 =MAX(B$25:F$25) 6.10 Complexity. • Frequency of use and updating. • Number of users using a spreadsheet. • Time in use. OCT/NOV 2013 3.1  Requirement analysis: future growth of the organisation, all role players input, prioritisation of requirements, the number of users; the number of suppliers and customers; input, processing and output methods (real-time, batch, etc.); processing speed; features; standard and customisable reports; and security.  Budget: budget for initial investment, training and implementation, customisation, the succeeding years’ maintenance, support and licence fee costs.  Implementation period: budget and plan for the time to implement the AIS. 3.2 Enterprise level software 3.3 SAP ERP 3.4  Ease of use. Because this software is used daily, it should be easy to understand and use.  Integration.  Flexibility. Scalability. Can this product grow with the organisation? Page 7 of 17  Costs.  Implementation.  Upgrades. 3.5 Audit trail 3.6 • The database model type used should support the requirements of the organisation. • The acquired DBMS and database should closely match the requirements of the organisation. • The DBMS and database should be able to evolve to meet future organisational needs. • The performance of the DBMS and database. • The cost of the DBMS and database • Different DBMS and databases will require different levels of specialised staff skills. • The hardware needed to run the DBMS and database should be considered. • Can the DBMS and database be integrated with the rest of the organisation’s information systems? • The database size must be adequate for the organisation’s future data requirements and the database should easily be expandable. • The number of concurrent users the DBMS and database can handle • The DBMS and database vendor should be a reputable organisation and financially stable 3.7 Conceptual level 3.8 DML Question four 4.1 General Ledger account number Debit/Credit Amount Trade Payables credit R7740.60 (7000*0.97*1.14) (Supplier invoice amount including VAT (net of trade discount and price Page 8 of 17 differences) VAT debit R950.60 (R7000*0.97*0.14) (Supplier invoice VAT amount) GRN Accrual Debit R7000.00 (Original GRN accrual amount excluding VAT) Inventory Credit R239.40 (7000*1.14*0.03) (Trade discount)