Question

1.Is MYOB a black box？

Answer 1

Black Box Accounting

Black box accounting describes the use of complex bookkeeping methodologies with the intent to make interpreting financial statements time-consuming or difficult. Black box accounting is more likely to be used by companies seeking to hide information that they do not want investors to readily see, such as large amounts of debt, as the information would negatively affect the company's shares or ability to gain access to funding.

MYOB is a computerised accounting system. Its name is an acronym, standing for Mind Your Own Business.

It is used to record transactions, create journal entries, enter into ledgers and to create financial reports such as the income statement and balance sheet - and these are just a few things that can be done with MYOB.

MYOB is an Australian tax and accounting software Company which provide a wide variety of products for small to large scale business Browser-based, cloud-based, or physical installation based software. To maximize the software’s usability MYOB uses a number of partnerships. It’s a Microsoft Gold Certified Partner, which implies that MYOB software works easily with Microsoft programs. It’s also cooperated with PayPal, convenient coordination for online business. At last, MYOB is cooperated with Westpac to implement a business startup toolkit called ‘Open for Business’.