Problem
I.
What is the purpose of remittance advice documents?
What would you do in the event that the customer failed to provide one?
Why do receipts and payments need to be matched?
II.
List three types of transactions that would generate a receipt in an accounting system.
III.
What is batching and when is it used?
IV.
Provide a summary of 3 conditions with which you need to comply when collecting, recording and disclosing information. There are six (6) conditions; you need to state any three (3) of the six.
V.
What is legislation? How might it affect you in the workplace?
VI.
List and briefly describe the five (5) self-assessment tools that can be used to plan and monitor work tasks.
VII. What is matching?
VIII.
List and briefly describe five discrepancies you might find when completing a bank reconciliation.
IX.
What steps should you take when do not know how to deal with a discrepancy?
X.
What are the general principles for reconciling balances outstanding?
XI.
What does accurate and timely reporting enable a company to do?
XII.
Arrange the numbers into file number order.
750923, 785423, 665239, 237686, 751923
XIII.
Arrange the names into alphabetical order.
Penfold Stationery
B Penfold
Penfold Auto and Air
Bill Penfold
Penfold Sons
XIV.
Arrange into alphanumeric order.
AN7542 NZ6598
AU6450 AK3422
US2234 NZ5423
NZ4523
XV.
Regardless of the accounting system used for payments, what requirements must be adhered to?