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Using General Ledger Software and Spreadsheets in Accounting

Using General Ledger Software and Spreadsheets in Accounting. Carol Yacht Author-Software Consultant carol@carolyacht.com www.carolyacht.com. Mike Fujita, Accounting Professor Leeward Community College fujitam@hawaii.edu http://www.ilearnacc.com. Today’s Objective. Use technology in

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Using General Ledger Software and Spreadsheets in Accounting

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  1. Using General Ledger Software and Spreadsheets in Accounting Carol Yacht Author-Software Consultant carol@carolyacht.com www.carolyacht.com Mike Fujita, Accounting Professor Leeward Community College fujitam@hawaii.edu http://www.ilearnacc.com

  2. Today’s Objective Use technology in accounting courses

  3. 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

  4. 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

  5. Who are today’s students? • Students in college today think of the Internet the way we think of TV: it’s always been there and it stays on. • Debates persist over the Net’s birthday but today’s college students were born after the invention of the Internet. • The Internet started 35 years ago, but who heard of it then? Who hasn’t heard 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.

  6. Use software in these courses: • Accounting I & II; Principles of Accounting; College Accounting • Financial/Managerial Accounting • Computer Accounting • Using Spreadsheets in Accounting • Accounting Information Systems

  7. GL System

  8. Peachtree’s General Ledger flow-chart

  9. When should I use General Ledger and Spreadsheet software in my accounting course? • Use GL software and Excel after students have completed a chart of accounts and journalizing in the general journal and posting to the general ledger. • In most textbooks, introduce software after Chapter 4.

  10. Why use software in the first accounting course? • Strengthen students’ understanding of fundamental accounting principles − debit/credit; double-entry; accounting cycle. • Through the use of GL software, students see the relationship between journal entries and financial statements. THINK DRILL-DOWN! What software is available? • “Generic” or publisher software • Peachtree Complete Accounting • QuickBooks. QB Online Edition is FREE for 30 days • Excel

  11. Think Drill-Down!

  12. Software templates • Peachtree templates -- .PTB extensions. In 2004 version, restore wizard allows you to create a new company from .ptb file. http://balancesheet.swlearning.com/0903/0903b.html • QuickBooks -- .QBB extensions. Create student template with starting data. • Excel -- .XLS extensions. Student templates include starting data. • Generic software includes EOC problems for use with software.

  13. Computer Accounting course: • Peachtree Complete Accounting 2004 textbook website: www.mhhe.com/yacht2004 • QuickBooks Pro 2004 textbook website: www.mhhe.com/ulmer2003 • Great Plains (MS Business Solutions) www.greatplains.com • Online software FREE for 30 days ePeachtree – www.epeachtree.com QB: Online Edition – http://oe.quickbooks.com • Microsoft Excel – http://office.microsoft.com/excel

  14. Using Spreadsheets in Accounting Mike Fujita

  15. 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.

  16. Excel balance sheet

  17. Excel income statement

  18. Questions?

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