ACCOUNTING SOFTWARE ACCT 332

AIM

  • COURSE DESCRIPTION
  • ROLE IN CURRICULUM
  • LEARNING OUTCOMES
  • STUDY PLAN
  • TEACHING METHODS
  • ASSESSMENT AND GRADING
  • TEXTBOOKS AND REFERENCES

COURSE DESCRIPTION

The professional roles of bachelor of accounting and finance graduates will require use of accounting information system (AIS) software to optimize business development, operation, auditing and analysis for decision making. This course aims to teach the functional use of Quickbooks, a commonly used accounting software.

Credits: 3
Lecture Hours: 45

Self-Study Hours:

  • Reading: 32 (95 pages of technical reading)     
  • Review: 32 (Home-Work on QuickBooks- Participation Case Studies – 2)
  • Assignment: 32 (QuickBooks Assignment Case Studies – 2)
    96

ROLE IN CURRICULUM

Prerequisites

The prerequisites for this course is successful completion of Introduction to Computer Science (COSC 101) and Financial Accounting 1 (ACCT 211). Students must bring a laptop to each class.

LEARNING OUTCOMES

The learning outcomes for this course cover three main areas: On successful completion of this course, students will be able to:

1  Knowledge

Level of Learning PLO CLO Learning Outcome
Understand PK1 CK1 Explain the primary information flows and needs within a business organization as they relate to accounting software
Understand PK2 CK2 Identify the functions of accounts involved in sales and customers, purchases and suppliers, chart of account, banking and payments, accounting evidence and report system especially for a business using Quickbooks.
Understand PK1 CK3 Explain the basic steps of recording business transactions and how to prepare the financial statements and how to close the accounts in Quickbooks.

2  Cognitive Skills

Level of Learning PLO CLO Learning Outcome
Apply PC1 CC1 Compare financial and cost performance using the accounting software

3  Communication, Information Technology, and Numerical Skills

Level of Learning PLO CLO Learning Outcome
Create PCIT2 CCIT1 Make accounting entries for a service company, and a trading inventory company by using accounting software.
Create PCIT3 CCIT2 Construct user stories for improvement in an accounting software.
Understand PCIT3 CCIT3 Describe Cloud Computing and Cloud Accounting

4   Interpersonal Skills and Responsibilities

None.

STUDY PLAN

The course targets the study plan below. Implementation may vary somewhat depending on the progress and needs of students. For example, some topics may be allocated more or less than 1.5 hours.

No  Lesson Learning Outcomes Teaching and Learning Activities, Assessment
Session 1, 2, 3 & 4

Overview of Cloud Computing & Cloud

  1. The components of accounting software
  2. Type of business activities
  3. How to setup an accounting system
  4. An overview of accounting manual
  5. Cloud Computing and cloud accounting

 

Lecture Group Discussion & Groups PresentationsReading:

  • Chapter 1 of Lecture Handouts
  • Cloud Computing by Microsoft
  • Cloud Computing by AWS (Amazon Web Service)
  • Cloud Computing by IBM
  • Cloud Accounting by FInancialForce
  • Cloud Accounting by hubdoc
  • Cloud Accounting 101 by
  • QuickBooks
Session 5 to Session 19

Applied QuickBooks Part I Service Company (CK1, CK2, CK3, CCIT1, CCIT3) (Case Study 1 and Case Study 2)Case Study 1 – Session 5 & 6

  1. Describe the purpose of QuickBooks accounting system and their relevance to record in business transactions. (CK1)
  2. Understand how to create new company (CCIT1)
  3. Explain the setup preferences (CK2) 
  4. Prepare the preset chart of accounts (nature, classification, analysis) and how to set up the chart of accounts. (CK2)   
  5. Prepare and set up a class list, item list and payment method. (CK2)
  6. Prepare and setup vender list, customer list, job list.(CK2) 
  7. Explain the role of the recording Vendor menu, customer menu, journal, ledger, chart of account and create new company etc. (CK2)

Case Study 1 – Session 7, 8, & 9

  1. Explain the case study and business transaction such as expenses by cash on hand and cash at bank, revenue or trade account receivable list, trade account payable list, and bank statement etc. (CK2)   
  2. Recording transaction in QuickBooks (CCIT1): 
    1. Expenditure (payment) 
    2. Make general journal entries
    3. Revenues (AR) – Click Customer and Click create invoice.
    4. Purchase on credit – Click Vendor and Click Enter Bills.
    5. Recording cash advance from staff and cash advance settlement.
    6. Fund transferred  & Adjustment entries

Case Study 1 – Session 10 & 11

  1. Demonstrate how to close an accounting book on Profit and Loss statements. (CK3)
    1. Cross check the revenues from QuickBooks must be equal to revenue in Excel list.
    2. Cross check the expenses from QuickBooks must be equal expenses in Excel list.
  2. Demonstrate how to close an accounting book on a statement of financial position (CK3).
    1. Cross check the cash on hand from QuickBooks must be equal cash on hand in Excel list
    2. Cross check the cash at the bank from QuickBooks must be equal to the cash at the bank in Excel list.
    3. Cross check account receivable from QuickBooks must be an equal account receivable in Excel list.
    4. Explain the input VAT and output VAT and how to validate VAT. 

  Case Study 1 – Session 12

    1. Explain the fixed assets and intangible assets and depreciation method.
    2. Cross check other asset accounts
    3. Cross check accounts payable from QuickBooks must be equal to accounts payable in Excel list.
    4. and cross check other liabilities accounts.
    5. Cross check the capital investment 

Case Study 1 – Session 13

  1. Prepare a bank reconciliation (QuickBooks report with bank statement) (CK3, CC1)
  2. Produce / Customize financial reports (CK3, CC1, CCIT1)
    1. Statement of profit & loss
    2. Statement of financial position 
    3. Statement of cash flows
    4. Statement of owner’s equity
    5. Bank reconciliation report 
    6. Journal, general ledger and trial balance report
    7. Comparative Financial Reports
  3. Export / Import Features

Session 14

Recap

Quiz 1

Case Study 2 – Session 15, 17 and 18

Session 19

  1. Recap of Service Company
 Lecture Hands-on Work on QuickBooks Online (individually)Reading: Chapter 2 of Lecture Handouts
Session 20 to Session 25

Applied QuickBooks Part II Trading Inventory Company (CK1, CK2, CK3, CCIT1, CCIT3) (Case Study 3)Case Study 3 – Session 20

  1. Explain how to set up Inventory Items (CK1, CK2)
  2. How to record sales order (SO) and invoice. (CK3, CCIT1)
  3. How to record credit note and debit note. (CK3, CCIT1)
  4. Describe how to record purchase order (PO) (CK3, CCIT1)
  5. Describe how to record received items and enter bills (CK3, CCIT1)

Case Study 3 – Session 21

  1. Describe how to record adjust quantity/Value on hand (CK3, CCIT1)
  2. Calculate the value of inventory close and using average cost (AVCO). (CC1, CCIT1)
  3. Prepare the bookkeeping entries to use QuickBooks tools (CK3, CCIT1)

Case Study 3 – Session 22

  1. Record all entries (CK3, CCIT1)
  2. Calculate the figures needed for the preparation of the financial statement (CK3, CCIT1)

Case Study 3 – Session 23 & 24

  1. Prepare the financial statement for a company and how to close accounting books. (CK3, CC1, CCIT1)
    1. Statement of profit & loss
    2. Statement of financial position
    3. Statement of cash flows
    4. Bank reconciliation report
    5. General journal, general ledger and trial balance report
    6. Sale report by customers and by Salesman
    7. Inventory report Account receivable aging report

Session 25 (CCIT2)

  1. How to design template form in QuickBooks (Tax invoice, Commercial, statement, and Purchase Order (PO)
  2. Recap of Trading Inventory Company
   Lecture Hands-on Work on QuickBooks Online (individually) Reading: Chapter 3 of Lecture Handouts
Session 26 Create Wireframes and User Stories to articulate requirements Lecture Hands-on Practice
Session 27 Recap Quiz 2 Lecture Hands-on Practice
Session 28 & 29

Applied QuickBooks Part III Trading Inventory Company (Case Study 4)

  1. Prepare the financial statement for trading inventory company and close accounting books (CK3, CCIT1)
 Lecture Hands-on Work on QuickBooks Online (individually) Reading: Chapter 4 of Lecture Handouts
Session 30 Recap Session, covering Service Company, Inventory Trading Company and Manufacturing Company Lecture Reading: Chapter 5 of Lecture Handouts
Total Hours: 45 hours  

TEACHING METHODS

This course is primarily lecture and assignment based; assigned readings will support learning and serve as a reference to material covered in class. During class, approximately half of the class will be devoted to lecture with another half of the class working on case studies and problem sets and reviewing the solutions.

ASSESSMENT AND GRADING

Grades will be determined based on a grading score, calculated using the following assessments and score allocations:

Assessment Weight of each assessment Learning Outcome Assessed
CLO PLO

Participation (Based on 

  • In Class Activities
  • Graded Homework
  • In Class Participation)
 20% CK1, CK2, CK3 CC1 CCIT1, CCIT2 PK1, PK2
In-class tests​ (2) 24% CCIT1, CC1 PK1, PK2, PC1, PK1, PK2
Assignments (2) 26% CCIT1, CCIT2, CC1 PK1, PK2, PC1, PK1, PK2
Midterm exam No Mid Term    
Final exam 30% All CK, CCIT1, CCIT3 PK1, PK2, PC1, PCIT2
Total grading score 100%  

During the course, there are two assignments:

Assignment 1 – Quickbook for Service Business

Work Group: Group
Output format: Quickbooks file (in the PDF format)
Language: English
Assignment: The first assignment requires one student (assignment lead) to set up the Quickbooks accounts for a service business, and then adding team members (other users – other users will need to sign up as well) recording a series of transactions and events and producing the financial statements.

Assignment 2 – Quickbooks for Trading Business

Work Group: Individual
Output format: Quickbooks file (in the PDF format)
Language: English
Assignment: The second assignment requires each student to individually set up the Quickbooks accounts for an inventory trading business, recording a series of transactions and events and producing the financial statements.

 

TEXTBOOKS AND REFERENCES

Textbook

  1. QuickBooks – Small Business Users Guide (Reference Manual)\

References

  1. Cloud Computing by Microsoft
  2. Cloud Computing by AWS (Amazon Web Service)
  3. Cloud Computing by IBM
  4. Cloud Accounting by FInancialForce
  5. Cloud Accounting by hubdoc
  6. Cloud Accounting 101 by QuickBooks
  7. quickbooks.intuit.com/global

This course aims to give students a foundation in functional use of the most commonly used accounting software in Cambodia, QuickBooks and understanding of how to use any software solution in a cloud environment (including the risks and controls, using QuickBooks as an example). Research has shown that nearly 50% of companies using accounting software in Cambodia are using Quickbooks. Therefore, it is an advantage for students to develop functional use and familiarity with the software which they will encounter either as an accountant or an auditor. Moreover, the functions and structure of Quickbooks will give students a familiarity with the application and capacity of accounting software, whatever software they may encounter. This course emphasis the practice of recording transactions which will also benefit students by strengthening their financial accounting knowledge.

Education Resources