using general ledger software and spreadsheets in accounting carol yacht author-software consultant...
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Using General Ledger Using General Ledger Software and Spreadsheets in Software and Spreadsheets in
AccountingAccounting
Carol YachtCarol Yacht Author-Software ConsultantAuthor-Software Consultant
[email protected]@carolyacht.comwww.carolyacht.comwww.carolyacht.com
Mike Fujita, Accounting ProfessorMike Fujita, Accounting ProfessorLeeward Community CollegeLeeward Community College
[email protected]@hawaii.eduhttp://www.ilearnacc.comhttp://www.ilearnacc.com
Use technology in
Use technology in
accounting courses
accounting coursesToday’s
Objective
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Faculty and Practitioners Agree on the Critical Technology Skills for Accountants:
Spreadsheet software
Accounting software
Word processing software
Presentation software
Database
Windows
World Wide Web
Technology nomenclature
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Has the curriculum changed?Has the curriculum changed?
Most potential changes focus on the ways that technology is integrated into the curriculum. Other changes relate to improving writing skills and increasing the focus on business applications. Students need Office Suite and Business Suite skills.
W. Steve Albrecht, Brigham Young University; Robert J. Sack, University of Virginia; study published by American Accounting Association, 2000. http://aaahq.org/pubs/AESv16/toc.htm
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Who are today’s students?Who are today’s students?
Students in college today think of the Students in college today think of the Internet the way we think of TV: it’s Internet the way we think of TV: it’s always been there and it stays on. always been there and it stays on.
Debates persist over the Net’s birthday Debates persist over the Net’s birthday but today’s college students were born but today’s college students were born after after the invention of the Internet. the invention of the Internet.
The Internet started 35 years ago, but The Internet started 35 years ago, but who heard of it then? Who hasn’t heard who heard of it then? Who hasn’t heard of the Internet now?of the Internet now?
Leonard Kleinrock, UCLA computer scientist, stands next to the refrigerator-sized computer that made the first-ever connection in 1969 to what was to become the Internet.
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Use software in these Use software in these courses:courses:
Accounting I & II; Principles of Accounting I & II; Principles of Accounting; College AccountingAccounting; College Accounting
Financial/Managerial AccountingFinancial/Managerial Accounting Computer AccountingComputer Accounting Using Spreadsheets in AccountingUsing Spreadsheets in Accounting Accounting Information SystemsAccounting Information Systems
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GL System G/L
CofA GJ GL
A/R
CRJ SJ
A/P
CDJ PJ
Inventory
CGSJ Valuation
Jobs
Job Prof. Rep Job Ledger
Payroll
Pay. Jrnl Registers
Tax Forms
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Peachtree’s General Ledger flow-chart
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When should I use General When should I use General Ledger and Spreadsheet software Ledger and Spreadsheet software
in my accounting course?in my accounting course?
Use GL software and Excel after students have Use GL software and Excel after students have completed a chart of accounts and journalizing in completed a chart of accounts and journalizing in the general journal and posting to the general the general journal and posting to the general ledger. ledger.
In most textbooks, introduce software after In most textbooks, introduce software after Chapter 4.Chapter 4.
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Why use software in the first Why use software in the first accounting course?accounting course?
Strengthen students’ understanding of fundamental accounting Strengthen students’ understanding of fundamental accounting principles principles − − debit/credit; double-entry; accounting cycle.debit/credit; double-entry; accounting cycle.
Through the use of GL software, students see the relationship Through the use of GL software, students see the relationship between journal entries and financial statements. between journal entries and financial statements. THINK DRILL-THINK DRILL-DOWN! DOWN!
What software is available?What software is available?
““Generic” or publisher software Generic” or publisher software
Peachtree Complete AccountingPeachtree Complete Accounting
QuickBooks. QB Online Edition is FREE for 30 daysQuickBooks. QB Online Edition is FREE for 30 days
ExcelExcel
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Think Drill-Down!Think Drill-Down!
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Software templatesSoftware templatesPeachtree templates -- .PTB extensions. In 2004 Peachtree templates -- .PTB extensions. In 2004 version, restore wizard allows you to create a new version, restore wizard allows you to create a new company from .ptb file. company from .ptb file. http://balancesheet.swlearning.com/0903/0903b.htmlhttp://balancesheet.swlearning.com/0903/0903b.html
QuickBooks -- .QBB extensions. Create student QuickBooks -- .QBB extensions. Create student template with starting data.template with starting data.
Excel -- .XLS extensions. Student templates include Excel -- .XLS extensions. Student templates include starting data.starting data.
Generic software includes EOC problems for use with Generic software includes EOC problems for use with software.software.
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Computer Accounting course:Computer Accounting course:Peachtree Complete Accounting 2004Peachtree Complete Accounting 2004 textbook website: www.mhhe.com/yacht2004textbook website: www.mhhe.com/yacht2004
QuickBooks Pro 2004 QuickBooks Pro 2004 textbook website: www.mhhe.com/ulmer2003textbook website: www.mhhe.com/ulmer2003
Great Plains (MS Business Solutions)Great Plains (MS Business Solutions)www.greatplains.comwww.greatplains.com
Online software FREE for 30 daysOnline software FREE for 30 days
ePeachtree – ePeachtree – www.epeachtree.comwww.epeachtree.com
QB: Online Edition – QB: Online Edition – http://oe.quickbooks.comhttp://oe.quickbooks.com
Microsoft Excel – http://office.microsoft.com/excelMicrosoft Excel – http://office.microsoft.com/excel
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Using Spreadsheets in Accounting Mike Fujita
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What is Spreadsheet Accounting?
In a spreadsheet accounting course, students apply accounting procedures to Excel. Topics include:
Excel tutorial - learn basic spreadsheet elements, such as how to move around, enter data, save, format, use page setup and print.
Accounting projects - use Excel templates to manipulate accounting data; analyze spreadsheets.Reinforce financial and managerial accounting concepts.
Model building - build spreadsheets from scratch. For example, payroll, depreciation, amortization schedules.
Case problems - advanced model-building projects.
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Excel balance sheet
AssetsCash 5,600$ Accounts receivable 2,000 Supplies 575 Prepaid insurance 2,200
Equipment 50,000$ Accumulated depreciation-Equipment 25,000
25,000 Total Assets 35,375$
LiabilitiesAccounts payable 2,300 Notes payable 7,000 Salaries payable 700
Total Liabilties 10,000$
Owner's EquityCapital 25,375
Total Liabilities and Owner's Equity 35,375$
Mike's Surf and SeaBalance Sheet
As of 12/31/03
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Excel income statement
RevenuesService revenue 35,000$
ExpensesSalaries expense 8,700$ Rent expense 1,200 Utilities expense 800 Advertising expense 300 Insurance expense 400 Depreciation expense 5,000 Supplies expense 925
Total Expenses 17,325
Net Income 17,675$
Mike's Surf ShopIncome Statement
for the year ended 12/31/03
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Questions?Questions?