Integrating Technology into the Accounting Curriculum using QuickBooks Pro!

1. Integrating Technology into the Accounting Curriculum using QuickBooks Pro! Managing your Business Transactions Implement Accounting Cycle Enter Transactions Generate Reports

2. 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.

3. 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.

4. 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

5. 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

6. 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

7. Numerous Clients - Security

8. Dashboard Reports… Exporting Graphs - Excel

9. Report Center – Sales…

10. Cash Drawer Reports…

11. Credit Card Payment Reports…

12. Customer Reports… Tracking customer’s data

13. Customer Orders Reports…

14. Items… Inventory, assemblies, parts etc.

15. Purchasing ReportsVendor& Vouchers…

16. Employee Reports…

17. 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?

18. 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 • greenierd@region10ct.org