Integrating Technology into the Accounting Curriculum using QuickBooks Pro! Managing your Business...

Integrating Technology into the Accounting Curriculum using

QuickBooks Pro!

Managing your Business TransactionsImplement Accounting Cycle

Enter TransactionsGenerate Reports

QuickBooks: Point of Sale V5

Connection to NBEA & CBEA Accounting Standards

• Content Standard 1: Accounting Students will complete the accounting recording cycle and be able to

prepare basic financial statements according to generally accepted accounting principles for various forms of business.

• Content Standard 2: Accounting Students will interpret and analyze basic financial statements as used

by stockholders, creditors, and other users of financial information.

• Content Standard 3: Accounting Students will use planning and control techniques to be able to

evaluate the performance of an organization.• Content Standard 4: Accounting

Students will apply appropriate accounting principles and procedures to selected special topics such as merchandising activities, inventories, and plant and intangible assets.


Experiential LearningConstructivist Instructional Methodology

• Recognized as an effective approach to computer software training.

• Based on theories of educator John Dewey, the constructivist approach is student-directed using realistic, practical applications to aid learners in constructing a deeper understanding with improved retention.1

1R.Cwiklik, “Dewey Wins!: If the “New” Teaching Methods Pushed by High-Tech Gurus Sound Familiar, It Isn’t Surprising,” The Wall Street Journal, (November 17, 1997), R19.


Why QuickBooks?

• Chart of Accounts

• Assets, Liabilities, and Equity Cash Basis – record income when money is received and expenses

when bills are paid; track expenses at the time you pay, rather that at the time you receive the bill.

Accrual Basis – record income at the time of sale, not at the time your receive the payment; enter expenses when you receive the bill not when you pay it.

• Measuring Profitability Balance Sheet Profit and Loss Statement Statement of Cash Flow

• Banking Checking Accounts, Check Register Making Deposits, writing checks, reconciling bank statements


Why QuickBooks?

• Customers & Sales Record customer transactions Create Invoices, Record Sales Record Customer Payments and Print Reports

• Vendors, Purchases, and Inventory Record vendor transactions Create Purchase Orders Enter and Pay bills Print Vendor Reports

• Employees and Payroll Process Payroll

• Reports & Graphs Complete Accounting Cycle by creating Trial Balance and entering

adjusting entries Export Reports to Excel


QuickBooks Pro Right for Your Business… Right for Your Students

• Creating a Service vs. Merchandising Business

EasyStep Interview Process• Advanced Topics

Estimates, Credit Card Sales Accounting for Bad Debts Audit Trials


Numerous Clients - Security


Dashboard Reports… Exporting Graphs - Excel


Report Center – Sales…


Cash Drawer Reports…


Credit Card Payment Reports…


Customer Reports… Tracking customer’s data


Customer Orders Reports…


Items… Inventory, assemblies, parts etc.


Purchasing ReportsVendor & Vouchers…


Employee Reports…


Next Steps?

• We have reviewed the system as it relates to real world scenarios & textbook applications.

• We have discussed the features that will take your students to “the next level”.

• We have discussed the QuickBooks Pro commitment to student success through experiential pedagogy.

• Where do we go from here?


Credits…

• South-Western Century 21 General Journal 9E

• SW Accounting for QuickBooks Pro

• An Accounting Simulation, SW Creating the Band

• Glencoe Accounting Real World Applications & Connections

• Debra Greenier, Lewis S. Mills HS, Region 10, Burlington, CT 06013 [email protected]

Integrating Technology into the Accounting Curriculum using QuickBooks Pro! Managing your Business...

Documents

Transcript of Integrating Technology into the Accounting Curriculum using QuickBooks Pro! Managing your Business...