accounting software on every desktop: implications for business education carol yacht, author...
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Accounting Software on Every Desktop: Implications for Business Education
Carol Yacht, AuthorJerome, AZ
www.mhhe.com/yacht
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Use the Accountin
g
Use the Accountin
g
Software th
at is on
Software th
at is on
Every Desktop
Every Desktop
Today’s Objective
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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
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5% ____________Lecture
10%___________Reading
20%___________Audio-Visual
30%___________Demonstration
50%___________Group Discussion
75%_____________Practice by Doing
90%: Teach Others - Immediate Use
Retention Rates Learning Pyramid*
Carol Yacht, Author Accounting Software on Every Desktop February 19, 2005
*National Training Labs, Institute for Applied Behavioral Science; Bethel, Maine
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What are the Critical Technology Skills?
Windows
Internet
Word processing
Spreadsheet
Database
Presentation
Accounting software
Carol Yacht, Author Accounting Software on Every Desktop February 19, 2005
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2005’sTop Technology Issues*
Paperless OfficeRadio Frequency Identification (RFID)
www.microsoft.com/BusinessSolutions/scm_chip.aspx
Integration of Web-based activitiesData mining and business intelligenceVoice over Internet Protocol (VOIP)Viruses and Internet SecurityDocument 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
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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
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Software Integration
Bus. Educ. courses
Business Technolog
y Skills
Word
Word Processing
PublisherPowerPoint
ExcelAccess
IEDigital tools
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Software Integration
Accounting courses
Accounting
II
AA; CYGLPeachtreeQuickBook
s
Accounting I
Excel
Great PlainsMAS 90 & 200 Access
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Accounting Software Market*
*A Strategy for Finding the Right Accounting Software, Journal of Accountancy, September 2003; www.aicpa.org/pubs/jofa/sep2003/johnston.htm
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.
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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).
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General Ledger Software Design
Carol Yacht, Author Accounting Software on Every Desktop February 19, 2005
User's or Practitioner's
approachPeachtree
GL Cycle
Debit/Credit
Paradigm
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General Ledger System
G/L
CofA GJ GL
A/R
CRJ SJ
A/P
CDJ PJ
Inventory
CGSJ Valuation
Jobs
Prof. Rep Job Ledger
Payroll
Pay. Jrnl Registers
Tax Forms
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45% QuickBooks
35% Peachtree
20% Other
Market Share: QuickBooks/Peachtree/Other*
Carol Yacht, Author Accounting Software on Every Desktop February 19, 2005
*Accounting Technology, December 2002
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Peachtree/QuickBooks Pros & ConsPeachtree 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.
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Carol Yacht, Author Accounting Software on Every Desktop February 19, 2005
Peachtree & QuickBooks: CD Peachtree & QuickBooks: CD versionversion
Software 2005 Educational Cost
2005 Retail Cost
Peachtree Free to schools
www.peachtree.com/training/educational_partnerships.cfm
$399.95
QuickBooks
Educational pricing $259 - $599
www.intuitadvisor.com/education
$199.95 to $1,499.95
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Carol Yacht, Author Accounting Software on Every Desktop February 19, 2005
Application Service Providers: Application Service Providers:
Web deliveredWeb delivered
ASP 2005 Retail Cost Free Trial Period
ePeachtree
$14.99/month 30 days
www.peachtree.com/epeachtree
QB Online Edition
$19.95/month 30 days
http://oe.quickbooks.com/
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Using Spreadsheets in AccountingIn a spreadsheet accounting course, students apply accounting procedures to Excel. Topics include:
Excel tutorial - learn basic spreadsheet elements, such as how to move around, enter data, save, format, use page setup and print.
Accounting projects - use Excel templates to manipulate accounting data; analyze spreadsheets. Reinforce financial and managerial accounting concepts.
Model building - build spreadsheets from scratch. For example, payroll, depreciation, amortization schedules.
Case problems - advanced model-building projects.
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Excel balance sheet
AssetsCash 5,600$ Accounts receivable 2,000 Supplies 575 Prepaid insurance 2,200
Equipment 50,000$ Accumulated depreciation-Equipment 25,000
25,000 Total Assets 35,375$
LiabilitiesAccounts payable 2,300 Notes payable 7,000 Salaries payable 700
Total Liabilties 10,000$
Owner's EquityCapital 25,375
Total Liabilities and Owner's Equity 35,375$
Mike's Surf and SeaBalance Sheet
As of 12/31/03
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Excel income statement
RevenuesService revenue 35,000$
ExpensesSalaries 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$
Mike's Surf ShopIncome Statement
for the year ended 12/31/03
Carol Yacht, Author Accounting Software on Every Desktop February 19, 2005
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Questions?