Name of Institution

Course Number and Title

Credits

Century College

ACCT 1030 – Computerized Accounting Applications

3

South Central College

ACCT 1834/1835 – Computerized Accounting I & II

6

Name of Program(s)

Program Type

Bookkeeping

  Certificate

Accountant

 Diploma

Accounting

 AAS 

Expected Outcome

MnTC
Goal Area

Identify and apply accounting terms, concepts, principles, and procedures generally applicable to a service business and a merchandise business using integrated accounting software.

Demonstrate the general software capabilities of Peachtree Complete Accounting® 2010/20xx and QuickBooks Pro 2010/20xx.

Demonstrate the ability to use and evaluate software setup procedures, data entry and manipulation, information retrieval, and troubleshooting in an accounting environment.

Define and compare the differences between computerized and manual accounting systems.

Identify, understand and update the company’s general ledger account framework.

Demonstrate a working knowledge of cash and accrual methods of accounting.

Demonstrate a working knowledge of management and reconciliation of cash accounts.

Demonstrate a working knowledge of managing of inventory and inventory-related accounts.

Demonstrate a working knowledge of accounts receivable and accounts payable, including treatment of taxes and discounts.

Demonstrate a working knowledge of the concepts associated with payroll and their application.

Demonstrate a working knowledge of costing concepts and their application.

Demonstrate a working knowledge of adjusting entries and financial statement preparation.

1.  QuickBooks
   1. Introduction to QuickBooks Pro 2010
             i.      Installation of QuickBooks software
            ii.      Students learn to load, backup, and restore data files.
           iii.      Navigation the QBP desktop and using centers and menu commands
           iv.      Apply multi-tasking using keyboard shortcuts and help features
   2. QuickBooks Basics
             i.      Illustrate QBP drilldown, lookup and find features
            ii.      Printing, customizing, emailing and exporting reports in Excel format
           iii.      Identify, understand and update  the company’s general ledger account framework
           iv.      Explain company preference settings that control transaction posting
            v.      Open and close accounting periods.
   3. General Journal Transactions and Reports
             i.      Illustrate posting, editing and voiding basic and complex journal entries.
            ii.      Make adjusting entries and print general ledger reports, the trial balance and financial statements
           iii.      Students should be able to become comfortable with posting transactions and tracing entries.
   4. Customer Activities for a Service Based Business
            i.      Explain revenue recognition principles
           ii.      Setup and maintain customer accounts, create sales invoice
          iii.      Explain customer jobs and analyzing job profitability
          iv.      Illustrate customer reporting, statements, and reconciling activities that take place at the end of an accounting period.
   5. Vendor Activities for a Service Based Business
           i.      Illustrate the purchasing cycle including purchase orders
          ii.      Explain liability recognition and matching principles
         iii.      Setup and maintain vendor accounts
         iv.      Set up default expense accounts, purchase discount terms and activating 1099 reporting
          v.      Illustrating vendor reports printed at month-end and the procedures used for reconciling purchasing activities to the general ledger
   6. Payroll Activities for a Service Based Business
          i.      Discuss various employer and employee payroll taxes and company provided benefits such as health insurance and 401K plans
         ii.      Illustrate transactions affecting a company’s payroll cycle
        iii.      Calculation of payroll taxes using IRS tax tables
        iv.      Create a payroll register spreadsheet including recording and reconciliation of employee timecards.
   7. Close the Accounting Period for a Service Based Business
          i.      Illustrate monthly closing procedures
         ii.      Record adjusting entries for depreciation, accrued payroll, etc.
        iii.      Reconciliation of bank statements
        iv.      Analyze printed financial reports for errors and omissions
   8. Customer Activities for a Merchandising Business
          i.      Overview of the sales cycle
         ii.      Explain inventory valuation methods
        iii.      Update data to reflect partial shipments and to print a sales invoice
        iv.      Illustrate customer reporting, statements and reconciling activities that take place at the end of an accounting period.
   9. Vendor Activities for a Merchandising Business
          i.      Same as for a service company with the addition of recurring payments, post and modify a memorized bill and issuance of checks to vendors
   10. Payroll Activities for a Merchandising Business
           i.      Same as for a service company
   11. Close the Accounting Period for a Merchandising Business
           i.      Same as for a service company
   12. Create a New Company
           i.      Construct a chart of accounts with beginning balances
          ii.      Create customers, vendors, inventory and employees for a new company
          iii.      Enter one month of transactions, close the accounting period and produce financial statements.