~..Our Last Post For UBS Mini Blogging Project DAC 2183 May 2013 Session..~

      Finally this is our last post for mini blogging project 2013 season. From the beginning until the end, there are many things that we have learned. This mini blogging project really help us in Accounting Information System. The mini blogging project also give many advantages to us.

       When the first time we are given this task to do each post every week, we do not understand what is the relation between this task and our subject. But we follow the instructions by Sir Noreffendy and perform well each of the task given since every week he gave us different title for our post. The purpose of this mini blogging project is to sharpen our skills in preparing the report when we are in practical session. 

       This blogging project actually really help us in improve our essay writing especially in doing the report. Since this semester we do not take any English subject, so we all did not practice our writing. This blogging project really help us in thinking what to write and what to tell. It is a good practice for us so that we do not forget how to write a good post in English.

        Besides that, the mini blogging project actually give us advantage to refer back on what we have learn in class. During do the UBS project, we have to practice back all the lesson that we learn in class but unfortunately as a student we cannot memories all the thing that Sir Noreffendy thought us. So by referring back the steps learned in class that we have post in our mini blogging project, it help us to remember back what steps we need to do.

          Since this is the last post for our mini blogging project may 2013, we Nur Iffah Syahirah Binti Mohd Subki and Omar Bin Zulkifli would like to thank to Sir Noreffendy after all of his help during the process of our project. The guidance that he always give to us actually help us a lot even during the lesson in the class. He really make sure that his student understand what he had thought for subject Accounting Information System.

This project really help us in understanding the UBS system very well. 

Thank you again Sir Noreffendy....:)

Differences of UBS terms...

Deleting Individual Data Vs Deleting All Data In The UBS System.

Deleting Individual Data is clear only transaction and batch titles will be deleted. The chart of account and opening balance will be remain. You can choose 'Clear only transactions-chart & b/f remain' which is option number two at Housekeeping--> Clear Files/ Generate Sample Chart in UBS system.

Deleting All Data  is all transactions of account numbers and batch titles of data folder will be deleted. You have to choose 'Clear both chart of accounts & transactions' which is option number one at Housekeeping--> Clear Files/ Generate Sample Chart in UBS system.

Backup Vs. Restore.

Backup is a compression of multiple data files from UBS system into one compressed file and transfer the compressed file to floppy disk or USB flash driver or hard disk. You must 'Select Diskett Drive' to 'C:'. When do the backup, the system will generate a file name 'backup.acc'. Then you must rename 'backup.acc' to a new file name for easy to do another backup.

Restore is decompress the compressed file from floppy disk or USB flash drive or hard disk order to recover back the multiple original data files which shall be stored back into the system. Before you doing restore, make sure the file that you rename before after backup you change back to 'backup.acc'. The purpose of rename the 'backup.acc' is the system only can read the backup name of 'backup.acc'. 

Add Entry Vs. Quick Entry

Add entry is a single transaction entry procedure, which means data is key in double entry one by one. You may either key in debit entry and followed by credit entry or vise versa.

Quick entry is a double transaction entry procedure. When you enter one side of double entry, the system will generate the other side of the entry automatically. You must determine what entry can be more time to key in as 'Master Account'. 'Master Account' can be any double entry account and it means the account's entry will be handle by the system.

Lock Batches Vs. Unlock Batches

Lock Batches is a step that to prevent the batches when you are deleted the transactions. You can choose any batches to lock by go to 'Transactions--> Organize batches. High light the batches that you are want to lock and after that click 'Lock'. There will be sign of letter 'L' at the side of batches which means that it is already be lock. 

Unlock Batches is to make the batches in an availability to deleted. The sign of letter 'L' will disappear from the batches.

Special Account Vs. Non-special Accounts

Special Accounts can be divided into two groups. The first group is for accounts that require certain function, e.g. stock account, manufacturing account, payment voucher and etc. The second group is for accounts that require certain specification to obtain the effects when printing reports, e.g. header setting, spacing, single line, subtotal and etc.

Example,

Account No. Description Special A/C

3010/000 Bank PV

3030/000 Stock BS

6010/000 Opening Stock OS

6020/000 Closing Stock CS

7000/000 Manufacturing A/C MA

Note:- The special account for Bank A/C is „PV‟. When you enter a 

transaction of payment in Bank A/C, you are able to type in the 

particulars that will eventually appear on payment voucher.

Non-special Accounts is an account that not require certain function or  certain specifications. It is the account that not giving any effect when printing report.

Our experiences regarding the UBS Project..:)

First and for all, I would like to thank to Sir Noreffendy for giving much help and advice for our project. For this time posting, Omar and I, will story our experiences when doing the conversion of data from source document until ledger-entries using manual accounting process.

After we finish getting all the documents and have approved by Sir Noreffendy, we started to climbed up one more step to finish our UBS project. We have to do a manual accounting process. As we have many source document, Sir Noreffendy told us to convert data from source document in order to avoid any mistake arise when we key-in the data into the system. It is a safety step for us. With this work, it actually testing our skills in accounting entries either we are still remember or not and also testing us on how long we take to convert the data.

It is been hard actually to convert for the first time we see the document. We also need to check all document one by one so that there are no error happen during the conversion. So, it take us a long period to settle the work. But, it is not too much time we take. We manage to do it within our target time.The conversion is not only the business transaction document only, but it include invoice from debtor and creditor, bank statement, and others document related.

For our company, the expenses is not in many as other company as commonly, the company is more on paying the salaries to their worker. It is also due to in process of expanding the company business.

So, that is all we have to share now. It is really challenging work in a way to complete this project.
We are still struggling to give a very impressive result to our lecturer. Hope it will end up very nice and smoothly.

What do you understand the function of "Accounting Assumption Page" for your UBS project..?

During the class of Accounting Information System (AIS), Sir Noreffendy has touch about the accounting assumption page for the report of after we finish our UBS project. The use of accounting assumption page is to clarify all the details put in the UBS project that does not have supporting documents. Based on what he have told us, there are many cases come out upon the business transactions of a company.  There are several points need to put on the accounting assumption page after finish the UBS project.

1. Lack of information.

       Different companies have different kind of sources of document based on the nature of the business itself. There are some difficulty happen faced by account department itself as the companies might or might be have complete documents and data needed for preparing Statement of Comprehensive Income and Statement of Financial Position. So, as preparation, the problem arise have their solution. For example, the electricity expenses is not available due to lost of document. All is need is the assumption figure based on collection  information of the document by interview with the owner of the company on how much usually they spend for the electricity and ask whether there expenses is increasing or decreasing in the months selected.

2. Information not available.

        The availability of information actually will effect the accountant during performing their job. For example, KFC company have many employees. But there are some of workers are doing part time job to gain more income especially students. But KFC did not record the part time salaries expenses as their record the salaries expenses for permanent workers. In this case, the information of part time expenses not disclose to the accountant, it will effect the financial statement. The excessive expenses will occur that the accountant cannot trace the problem arise as there are no supporting document for the expenses. The assumption figure is used based on the collecting all the supporting document and ask the in charge person of KFC company to record back all the expenses of part time salaries as a prove.

3. New information.

        All the companies have the same purpose which is to maximizw profit and minimize their cost. The different between all the business companies is their nature either by selling product/goods or provide services.The companies nature of business by service such as financial institution and by product such as Giant and Tesco. There are also a company that operate by both nature which are selling goods and provide services such as Auto-Mobile. There are some problems arise for the accountant to record all the transaction for the Auto-mobile company because it have two nature of business. The problem arise when they enter the batches in the UBS system whether they should separate the sales or combined it. Assumption figure is used by enter two kind of batches which the first one is Sales-for the goods sell and Sales (Service)- for the service provided. It is means that the information assist should be inform as a references in the future time.

4. Transction on Cash basis.

        There are certain company use cash basis such as enterprise company. So, all the transaction are based on cash and no document involved. So, as the accountant to prepare the financial statement, there have to disclosed in the accounting assumption page as the transaction is used based on cash basis.