John Walsh is the owner manager of a television business trading under the registered business name, Video Matrix. The business sells a range of televisions, videos and other related equipment to various retailers at competitive prices. The business commenced on the 1 July 1999 when Walsh used some of the proceeds of an early retirement package to purchase the business premises and buy a small quantity of inventory. This practice set is intended to introduce students to MYOB Accounting Plus v18. It gives students experience in keeping a computerised set of books and is recommended for use by students studying an introductory unit in financial accounting. This practice set is designed to simulate the activities of a business i.e. Video Matrix, and provide students with the opportunity to process a number of common transactions affecting a business over one accounting period. It should ensure a greater appreciation of: (A) the steps required in the accounting cycle (including GST requirements); (B) entering sales, purchases, receipts, payments and general journal entries; (C) reconciling bank accounts, GST, Accounts Receivable and Accounts Payable; (D) printing financial reports which summarise the activities of the business for the period; and (E) the preparation of the Business Activity Statement. Students are asked to analyse and enter transactions for the month of June 200X using MYOB Accounting Plus, according to the instructions given.

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