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Computerized Accounting - Course Outlines | BUS 201, Study notes of Financial Accounting

Material Type: Notes; Class: Acct I; Subject: Business; University: Lourdes College; Term: Spring 2008;

Typology: Study notes

Pre 2010

Uploaded on 08/18/2009

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COURSE OUTLINE
BUS 301 – COMPUTERIZED ACCOUNTING
(March 1, 2008)
Department: Business
Credit Hours: 3
Prerequisites: BUS 201 and CMP 211
General Education: N/A
College Learning Outcomes: 2a, 2b – Critical Thinking Ability; 9a, 9b, 9c, 9d, 9e –
Quantitative Competence
Course Description: Introduces Peachtree and QuickBooks commercial accounting software.
Applies basic accounting knowledge and theory to a computerized environment. Includes sales,
invoicing, purchases, receivables and payables, payroll, financial statements, and end of period
procedures for service and merchandising businesses.
Purpose of the Course: To use of software in gathering, analyzing, and summarizing business
data in order to prepare financial reports used for decision making by owners, managers,
investors, and creditors.
College Learning Outcomes and Objectives:
(2a) They can demonstrate an explicit understanding of principles of critical thought.
(2b) They can demonstrate the ability to reflect on issues and/or theories systematically.
(9a) They can formulate specific questions from vague problems, select effective problem
solving strategies, and know which mathematical operations are appropriate in particular
contexts.
(9b) They can perform mental calculations and estimates with proficiency, and decide
when an exact answer is needed and when an estimate is more appropriate.
(9c) They can use a calculator correctly, confidently, and appropriately and/or use
computer software for mathematical tasks.
(9d) They can use tables, graphs, spreadsheets and statistical techniques to organize,
interpret, and present numerical mathematical tables.
(9e) They can judge the validity of quantitative results presented by others.
Program Learning Outcomes: N/A
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COURSE OUTLINE

BUS 301 – COMPUTERIZED ACCOUNTING

(March 1, 2008)

Department : Business Credit Hours : 3 Prerequisites : BUS 201 and CMP 211 General Education: N/A College Learning Outcomes: 2a, 2b – Critical Thinking Ability; 9a, 9b, 9c, 9d, 9e – Quantitative Competence

Course Description: Introduces Peachtree and QuickBooks commercial accounting software. Applies basic accounting knowledge and theory to a computerized environment. Includes sales, invoicing, purchases, receivables and payables, payroll, financial statements, and end of period procedures for service and merchandising businesses.

Purpose of the Course : To use of software in gathering, analyzing, and summarizing business data in order to prepare financial reports used for decision making by owners, managers, investors, and creditors.

College Learning Outcomes and Objectives : (2a) They can demonstrate an explicit understanding of principles of critical thought. (2b) They can demonstrate the ability to reflect on issues and/or theories systematically. (9a) They can formulate specific questions from vague problems, select effective problem solving strategies, and know which mathematical operations are appropriate in particular contexts. (9b) They can perform mental calculations and estimates with proficiency, and decide when an exact answer is needed and when an estimate is more appropriate. (9c) They can use a calculator correctly, confidently, and appropriately and/or use computer software for mathematical tasks. (9d) They can use tables, graphs, spreadsheets and statistical techniques to organize, interpret, and present numerical mathematical tables. (9e) They can judge the validity of quantitative results presented by others.

Program Learning Outcomes: N/A

Course Objectives: Upon completion of this course, students should be able to:

  1. Apply the basic concepts of accounting to a business organized as a sole proprietorship, partnership, or corporation. (CLO 2a, 2b, 9a, 9e)
  2. Use the double entry method to record business transactions in ledger accounts. (CLO 9a, 9b, 9c, 9e)
  3. Adjust ledger accounts and prepare a classified Balance Sheet. (CLO 9b, 9c, 9d, 9e)
  4. Prepare financial statements for a merchandising business using a perpetual inventory system. (CLO 9a, 9b, 9c, 9d, 9e)
  5. Prepare worksheets and closing entries to complete an accounting cycle. (CLO 9a, 9b, 9c, 9d, 9e)
  6. Record transactions in a variety of journals in order to handle large volumes of data. (CLO 2a, 9a, 9b. 9c, 9d, 9e)
  7. Use internal control procedures to protect assets. (CLO 2a, 2b, 9a, 9b, 9c, 9d, 9e)
  8. Record credit sales and calculate interest and discounts on notes receivable and accounts receivable. (CLO 2b, 9a, 9b, 9c, 9d, 9e)
  9. Use special journals to record transactions and the proper use of accounts receivable and accounts payable subsidiary ledgers. (CLO 9a, 9b, 9c, 9d, 9e)
  10. Apply the various methods used in recording inventories and the importance of proper valuation. (CLO 2b, 9a, 9b, 9c, 9d, 9e)
  11. Apply generally accepted accounting principles. (CLO 2a, 2b, 9a, 9e)
  12. Use Peachtree and QuickBooks modules. (CLO 2a, 9a, 9b, 9c, 9d, 9e)

TOPICAL OUTLINE:

  1. System Requirements – Opening, Backing Up, and Restoring a Company’s Data Files
  2. Journalizing, Posting, and Printing Reports
  3. Compound Journal Entries, Adjusting Entries, and Printing Financial Reports
  4. The Closing Process and Completing the Accounting Cycle
  5. Accounting for Merchandising Operations
  6. Perpetual Inventory Systems and Cost of Goods Sold
  7. Payroll Accounting
  8. Cash and Internal Control
  9. Accounting for Accounts Receivable and Accounts Payable