Using General Ledger Using General Ledger Software and Software and Spreadsheets in Spreadsheets in Accounting Accounting Carol Yacht Carol Yacht Author-Software Author-Software Consultant Consultant [email protected][email protected]www.carolyacht.com www.carolyacht.com Mike Fujita, Accounting Mike Fujita, Accounting Professor Professor Leeward Community College Leeward Community College [email protected][email protected]http://www.ilearnacc.com http://www.ilearnacc.com
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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 [email protected] www.carolyacht.com. Mike Fujita, Accounting Professor Leeward Community College [email protected] http://www.ilearnacc.com. Today’s Objective. Use technology in - PowerPoint PPT Presentation
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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
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
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.