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Accounting Amortization Schedules Templates - PowerPoint

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					Accounting Software
on Every Desktop:
Implications for
Business Education



     Carol Yacht, Author
             Jerome, AZ
   www.mhhe.com/yacht
Today’s
Objective
Why integrate technology?
   Because there is a gap between how we teach
    and what is done in the business world.
   Because we need to teach students how
    technology has reshaped business.*
   There is a 75% retention rate with hands-on
    practice.


    *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




Carol Yacht, Author         Accounting Software on Every Desktop    February 19, 2005
      Retention                                     5% ____________Lecture
      Rates
                                                   10%___________Reading
      Learning
      Pyramid*                                     20%___________Audio-Visual

                                                   30%___________Demonstration

                                                    50%___________Group Discussion

                                           75%_____________Practice by Doing

                        90%: Teach Others - Immediate Use

  *National Training Labs, Institute for Applied Behavioral Science; Bethel, Maine


Carol Yacht, Author                Accounting Software on Every Desktop              February 19, 2005
 What are the Critical Technology Skills?

                                                                    Windows
                                                                       Internet
                                                                           Email
                                                             Word processing
                                                                Spreadsheet
                                                                   Database
                                                                Presentation
                                                     Accounting software


Carol Yacht, Author   Accounting Software on Every Desktop         February 19, 2005
2005’sTop Technology Issues*
         Paperless Office
         Radio Frequency Identification (RFID)
     www.microsoft.com/BusinessSolutions/scm_chip.aspx
         Integration of Web-based activities
         Data mining and business intelligence
         Voice over Internet Protocol (VOIP)
         Viruses and Internet Security
         Document management techniques

     *Accounting Technology magazine
     www.webcpa.com/article.cfm?articleid=9497&pg=acctech


Carol Yacht, Author       Accounting Software on Every Desktop   February 19, 2005
What software does business use?
       Microsoft Office Suite:
           Word
           Excel
           Outlook, PowerPoint, Publisher, Access
           Internet Explorer
           Small Business Accounting
  www.microsoft.com/office/editions/prodinfo/smallbusiness
  /accounting/default.mspx

       Accounting: Quicken, Peachtree, QuickBooks,
       Microsoft Business Solutions-Great Plains,
       ACCPAC, Simply Accounting….
Carol Yacht, Author    Accounting Software on Every Desktop   February 19, 2005
    Software Integration

                             Word                                 Publisher
   Bus. Educ.                                                   PowerPoint
                          Processing
    courses                                           Word


                            Business                 Excel           IE
                           Technolog                Access         Digital
                             y Skills                              tools




    Carol Yacht, Author   Accounting Software on Every Desktop      February 19, 2005
    Software Integration

   Accounting             Accountin                             Excel
                                                    AA; CYGL
    courses                   gI                    Peachtree
                                                    QuickBook
                                                        s


                          Accountin               Great Plains
                          g                       MAS 90 & 200   Access
                              II




    Carol Yacht, Author   Accounting Software on Every Desktop    February 19, 2005
             Accounting Software Market*




 Entry-level software: Businesses with sales of up to $5 million; up to 20
  employees; 5 million companies.
 Small to medium business software: Business with sales of up to $100 million;
  up to 100 employees; 516,000 companies.
 Small to medium enterprise software: Organizations with revenues up to $500
  million; up to 500 employees; 84,000 companies.
 Enterprise resource planning software: Organizations with revenues exceeding
  $500 million; up to 500 employees; about 17,000 companies.

*A Strategy for Finding the Right Accounting Software, Journal of Accountancy, September 2003;
www.aicpa.org/pubs/jofa/sep2003/johnston.htm
   Form-based-- source-document screens for data
   entry; e.g., purchase orders; sales orders;
   checks.
   Cash transactions and bank reconciliation.
   Customer and Vendor transactions .
   Numerous reports including financial
   statements.
   Payroll accounting option (fee-based service).



Carol Yacht, Author   Accounting Software on Every Desktop   February 19, 2005
   General Ledger Software Design
                                        GL
                                       Cycle


                                      Debit/
                                      Credit
                                     Paradigm
                User's or
              Practitioner's                                          Peachtree
                approach




Carol Yacht, Author            Accounting Software on Every Desktop           February 19, 2005
General Ledger System
                                           G/L

                          CofA             GJ                  GL


                  A/R                                                    A/P

       CRJ                 SJ                               CDJ                 PJ



        Inventory                              Jobs                            Payroll

                                  Prof. Rep          Job Ledger          Pay. Jrnl   Registers
 CGSJ                 Valuation                                                      Tax Forms




Carol Yacht, Author               Accounting Software on Every Desktop           February 19, 2005
                        Market Share:
                 QuickBooks/Peachtree/Other*


                         20%
                         Other                 45%
                                           QuickBooks

                        35%
                      Peachtree




     *Accounting Technology, December 2002

Carol Yacht, Author     Accounting Software on Every Desktop   February 19, 2005
Peachtree/QuickBooks Pros & Cons
      Peachtree reinforces traditional accounting.
     QuickBooks does not follow the debit/credit
      paradigm.
      Peachtree is double-entry accounting.
     QuickBooks is single-entry.
      Peachtree organizes records by monthly
      accounting periods.
     QuickBooks has one set of data for the entire
      year.
      Peachtree is free to schools.
     QuickBooks is purchased by schools.


Carol Yacht, Author   Accounting Software on Every Desktop   February 19, 2005
Peachtree & QuickBooks: CD version
Software                 2005 Educational Cost                         2005 Retail Cost
Peachtree                     Free to schools                              $399.95
                       www.peachtree.com/training/educational_p
                       artnerships.cfm




QuickBooks                 Educational pricing                           $199.95 to
                              $259 - $599                                $1,499.95

                       www.intuitadvisor.com/education




 Carol Yacht, Author            Accounting Software on Every Desktop        February 19, 2005
       Application Service Providers:
              Web delivered

     ASP               2005 Retail Cost                            Free Trial Period
ePeachtree              $14.99/month                                   30 days

                                                       www.peachtree.com/epeachtree

QB Online               $19.95/month                                   30 days
Edition
                                                       http://oe.quickbooks.com/




 Carol Yacht, Author        Accounting Software on Every Desktop            February 19, 2005
     Using Spreadsheets in 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.



Carol Yacht, Author   Accounting Software on Every Desktop   February 19, 2005
                      Excel balance sheet
                                       Mike's Surf and Sea
                                               Balance Sheet
                                                 As of 12/31/03


                       Assets
                        Cash                                                   $    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

                           Liabilities
                         Accounts payable                                           2,300
                         Notes payable                                              7,000
                         Salaries payable                                             700
                       Total Liabilties                                        $   10,000

                       Owner's Equity
                        Capital                                                    25,375

                       Total Liabilities and Owner's Equity                    $   35,375


Carol Yacht, Author                 Accounting Software on Every Desktop                    February 19, 2005
             Excel income statement
                             Mike's Surf Shop
                                Income Statement
                             for the year ended 12/31/03


                      Revenues
                       Service revenue                       $     35,000

                      Expenses
                        Salaries 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



Carol Yacht, Author         Accounting Software on Every Desktop            February 19, 2005
Questions?

				
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