ACCOUNTING SOFTWARE (ACCT 332)

OVERVIEW

1. COURSE DESCRIPTION

The professional roles of Bachelor of Accounting and Finance graduates will require students to be exposed to the use of accounting software applications to optimize business development, operations, auditing and analysis for various decision-making activities and processes. This course aims to teach the functional use of QuickBooks, a commonly used accounting software in many business organizations.

2. REASON FOR THE COURSE

This course aims to offer students a foundation in functional use of the most commonly used accounting software in Cambodia (i.e., QuickBooks) and an understanding of how to use other software solutions in a cloud environment (including the risks and controls) by using QuickBooks as an example. Research has shown that nearly 50% of companies in Cambodia are using QuickBooks. Therefore, it is advantageous for students to develop their technical skills and familiarize themselves with the software. Moreover, the function and structure of QuickBooks will provide applied knowledge for students to gain familiarity with the application and capacity of other accounting software. This course emphasizes recording transactions and generating accounting reports so as to strengthen their financial accounting knowledge.

3. STUDY HOURS

4. ROLE IN CURRICULUM

Prerequisites: 
Introduction to Computer Science (COSC 101) and Financial Accounting 1 (ACCT 211) are prerequisites for this course.

SKILLS

  • COURSE LEARNING OUTCOMES (CLO)
  • ASSESSMENT AND GRADING
  • TEACHING METHODS
  • STUDY PLAN
  • TEXTBOOKS AND REFERENCES

5. COURSE LEARNING OUTCOMES (CLO)

On successful completion of this course, students will be able to:

Knowledge Level of Learning Related PLO
Explain Cloud Computing and Cloud Accounting (CK1)
Explain the primary information flows and needs within a business organization in relation to the industry shift towards Cloud Computing and Cloud Accounting.		 Understand PK1
Describe the basic steps of recording business transactions (CK2)
Describe the basic steps of recording business transactions and preparing financial statements in QuickBooks.		 Understand PK2
Cognitive Skills Level of Learning Related PLO
Evaluate financial and cost performances (CC1)
Evaluate the financial and cost performance using QuickBooks.		 Evaluate PC1
Communication, Information Technology, and Numerical Skills Level of Learning Related PLO
Create Accounting Entries (CCIT1)
Make accounting entries for a service company, and a trading inventory company by using QuickBooks		 Create PCIT2
Evaluate the effectiveness of QuickBooks (CCIT2)
Evaluate the effectiveness of QuickBooks by generating accounting reports.		 Evaluate PCIT2
Interpersonal Skills and Responsibilities Level of Learning Related PLO
Work Ethically (CIP1)
Work in accordance with the predefined accounting transactions.		 Value PIP2

6. ASSESSMENT AND GRADING

Grades will be determined based on the following assessments and score allocations:

SKILL Assessment Skill Weighting
for Grade
Participation Assignment (Group) Assignment (Individual) In Class Test (2) Final Exam
Explain Cloud Computing and Cloud Accounting (CK1)       100%   5%
Describe the basic steps of recording business transactions (CK2)    75% 25%     20%
Evaluate financial and cost performances (CC1)   50% 50%     15%
Create Accounting Entries (CCIT1)       50% 50% 30%
Evaluate the effectiveness of QuickBooks (CCIT2)    30%  30%    40% 20%
Work Ethically (CIP1) 100%         10%

7. 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.

During the course, there are two assignments:

Assignment 1: QuickBooks for Service Business
Work Group: Group
Output format: QuickBooks file (in PDF format)
Language: English
Description:

The first assignment requires one student (assignment lead) to set up the QuickBooks accounts for a service business and then add team members (other users – other users will need to sign up as well), record a series of transactions and events and produce relevant financial statements. 
 Assignment 2:  QuickBooks for Trading Business
 Work Group:  Individual
Output format:  QuickBooks file (in PDF format)
 Language:  English
Description: The second assignment requires each student to set up a QuickBooks account for an inventory trading business, record a series of transactions and events and produce relevant financial statements. 
Assignment Rubric  

8. STUDY PLAN

This course has specific targets to be achieved (see the study plan below). The implementation may somewhat vary depending on the progress and needs of students. For example, some topics may be allocated more or less than 1.5 hours.

   Lesson Learning Outcomes Teaching and Learning Activities, Assessment
1

Overview of Cloud Computing & Cloud Accounting

  1. Identify the components of accounting software (CCIT2)

Lecture
Group Discussion & Groups Presentations

Reading: Chapter 1 of Lecture Handouts
2

Overview of Cloud Computing & Cloud Accounting

  1. Identify the type of business activities(CCIT2)

Lecture
Group Discussion & Groups Presentations

Reading: Chapter 1 of Lecture Handouts
3

Overview of Cloud Computing & Cloud Accounting

  1. Demonstrate how to setup an accounting system
  2. Explore accounting manual(CCIT2)

Lecture
Group Discussion & Groups Presentations

Reading: Chapter 1 of Lecture Handouts
4

Overview of Cloud Computing & Cloud Accounting

  1. Explain cloud computing and cloud accounting(CCIT2)

Lecture
Group Discussion & Groups Presentations

Reading: Chapter 1 of Lecture Handouts
5

Applied QuickBooks Part I Service Company (CK1, CK2, CK3, CCIT1, CCIT3)

Case Study 1

  1. Describe the purpose of QuickBooks accounting system and their relevance to record in business transactions. (CK1)
  2. Explain 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)

Lecture
Hands-on Work on QuickBooks Online (individually)

Reading: Chapter 2 of Lecture Handouts
6

Applied QuickBooks Part I Service Company (CK1, CK2, CK3, CCIT1, CCIT3)

Case Study 1

  1. Prepare and set up a class list, item list and payment method. (CK2)
  2. Prepare and setup vender list, customer list, job list.(CK2)
  3. Explain the role of the recording Vendor menu, customer menu, journal, ledger, chart of account and create new company etc. (CK2)

Lecture
Hands-on Work on QuickBooks Online (individually)

Reading: Chapter 2 of Lecture Handouts
7

Applied QuickBooks Part I Service Company (CK1, CK2, CK3, CCIT1, CCIT3)

Case Study 1

  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)

Lecture
Hands-on Work on QuickBooks Online (individually)

Reading: Chapter 2 of Lecture Handouts
8

Applied QuickBooks Part I Service Company (CK1, CK2, CK3, CCIT1, CCIT3)

Case Study 1 

1. Explain the recording transactions in QuickBooks (CCIT1):

_   Expenditure (payment)
_   Create General Journal entries
_   Revenues (AR) – Click Customer and Click create invoice.

Lecture
Hands-on Work on QuickBooks Online (individually)

Reading: Chapter 2 of Lecture Handouts
9

Applied QuickBooks Part I Service Company (CK1, CK2, CK3, CCIT1, CCIT3) 

Case Study 1

1. Explain the recording transactions in QuickBooks               (CCIT1):

a. Purchase on credit – Click Vendor and Click Enter Bills.
b. Recording cash advance from staff and cash advance settlement.
c. Fund transferred & adjustment entries

Lecture
Hands-on Work on QuickBooks Online (individually)

Reading: Chapter 2 of Lecture Handouts
10

Applied QuickBooks Part I Service Company (CK1, CK2, CK3, CCIT1, CCIT3)

Case Study 1

2. Demonstrate how to close an accounting book on Profit and Loss Account (or Income Statement). (CK2)

d. Cross check the revenues from QuickBooks  must be equal to revenue in Excel list.
e. Cross check the expenses from QuickBooks   must be equal expenses in Excel list.

Lecture
Hands-on Work on QuickBooks Online (individually)

Reading: Chapter 2 of Lecture Handouts
11

Applied QuickBooks Part I Service Company (CK1, CK2, CK3, CCIT1, CCIT3) 

Case Study 1

2. Demonstrate how to close an accounting book on Statement of Financial Position (CK2).

a. Cross check the cash on hand from                      QuickBooks must be equal cash on hand in Excel list
b. Cross check the cash at the bank from                  QuickBooks must be equal to the cash at the bank in Excel list. 

c. Cross check account receivable from                    QuickBooks must be an equal account receivable in Excel list.
d. Explain the input VAT and output VAT and how  to validate VAT.

Lecture
Hands-on Work on QuickBooks Online (individually)

Reading: Chapter 2 of Lecture Handouts
 12

Applied QuickBooks Part I Service Company (CK1, CK2, CK3, CCIT1, CCIT3)

 Case Study 1

a. Explain the fixed assets and intangible assets and depreciation method.
b. Cross check other asset accounts
Cross check accounts payable from       c.QuickBooks must be equal to accounts payable in Excel list.
d. Cross check other liabilities accounts.
e. Cross check the capital investment.

Lecture
Hands-on Work on QuickBooks Online (individually)

Reading: Chapter 2 of Lecture Handouts
 13

 

Applied QuickBooks Part I Service Company (CK1, CK2, CK3, CCIT1, CCIT3)

Case Study 1

3. Prepare a bank reconciliation (QuickBooks report with bank statement) (CK2, CC1)
4. Produce/customize financial reports (CK2, CC1, CCIT1)

a. Prepare Statement of profit & loss
b. Prepare Statement of financial position
c. Prepare Statement of cash flows
d. Prepare Statement of owner’s equity
e. Prepare Bank reconciliation report
f. Prepare Journal, general ledger and trial balance report
g. Explain Comparative Financial Reports

5. Export/Import Features

Lecture
Hands-on Work on QuickBooks Online (individually)

Reading: Chapter 2 of Lecture Handouts
14

Applied QuickBooks Part I Service Company (CK1, CK2, CK3, CCIT1, CCIT3)

1. Review
2. Quiz 1

Lecture
Hands-on Work on QuickBooks Online (individually)

Reading: Chapter 2 of Lecture Handouts
 15

Applied QuickBooks Part I Service Company (CK1, CK2, CK3, CCIT1, CCIT3)

Case Study 2

6. Case Study 2 – background & updating Chart of Accounts

Lecture
Hands-on Work on QuickBooks Online (individually)

Reading: Chapter 2 of Lecture Handouts
 16

Applied QuickBooks Part I Service Company (CK1, CK2, CK3, CCIT1, CCIT3)

Case Study 2

7. Case Study 2 – recording transactions (Profit and Loss Account (or Income Statement) items)

Lecture
Hands-on Work on QuickBooks Online (individually)

Reading: Chapter 2 of Lecture Handouts
17

Applied QuickBooks Part I Service Company (CK1, CK2, CK3, CCIT1, CCIT3)

8. Case Study 2 – recording transactions (Statement of Financial Position) items

Lecture
Hands-on Work on QuickBooks Online (individually)

Reading: Chapter 2 of Lecture Handouts
18

Applied QuickBooks Part I Service Company (CK1, CK2, CK3, CCIT1, CCIT3)

Case Study 2

9. Case Study 2 – generating reports and prepare a bank reconciliation

Lecture
Hands-on Work on QuickBooks Online (individually)

Reading: Chapter 2 of Lecture Handouts
 19

Applied QuickBooks Part I Service Company (CK1, CK2, CK3, CCIT1, CCIT3) 

Case Study 2

– Review of Service Company

Lecture
Hands-on Work on QuickBooks Online (individually)

Reading:
Chapter 2 of Lecture Handouts
 20

Applied QuickBooks Part II Trading Inventory Company (CK1, CK2, CCIT1, CCIT3) 

Case Study 3

Explain how to set up Inventory Items (CK1, CK2)

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

Lecture
Hands-on Work on QuickBooks Online (individually)

Reading: Chapter 3 of Lecture Handouts
21

 Applied QuickBooks Part II Trading Inventory Company (CK1, CK2, CCIT1, CCIT3) 

Case Study 3

5. Describe how to record adjust quantity/Value on hand (CK2, CCIT1)
6. Explain how to Calculate the value of inventory close and use average cost (AVCO). (CC1, CCIT1)
7. Prepare the bookkeeping entries to use QuickBooks tools (CK2, CCIT1)

Lecture
Hands-on Work on QuickBooks Online (individually)

Reading: Chapter 3 of Lecture Handouts
 22

Applied QuickBooks Part II Trading Inventory Company (CK1, CK2, CCIT1, CCIT3) 

Case Study 3

8. Categorize & Record all entries (CK2, CCIT1)       

9. Explain how to calculate the figures needed for the preparation of the financial statement (CK2, CCIT1)

Lecture
Hands-on Work on QuickBooks Online (individually)

Reading: Chapter 3 of Lecture Handouts
 23

 Applied QuickBooks Part II Trading Inventory Company (CK1, CK2, CCIT1, CCIT3)

Case Study 3

10.Prepare the financial statement for a company and how to close accounting books. (CK2, CC1, CCIT1)

    • Statement of profit & loss
    • Statement of financial position
    • Statement of cash flows
    • Bank reconciliation report

Lecture
Hands-on Work on QuickBooks Online (individually)

Reading: Chapter 3 of Lecture Handouts
 24

 Applied QuickBooks Part II Trading Inventory Company (CK1, CK2, CCIT1, CCIT3)

Case Study 3

10. Prepare the financial statement for a company and how to close accounting books. (CK2, CC1, CCIT1)

    • General journal, general ledger and trial balance report
    • Sale report by customers and by Salesman
    • Inventory report
    • Account receivable aging report

Lecture
Hands-on Work on QuickBooks Online (individually)

Reading: Chapter 3 of Lecture Handouts
 25

Applied QuickBooks Part II Trading Inventory Company (CK1, CK2, CCIT1, CCIT3)

Case Study 3

  1. Explain how to design template form in QuickBooks (Tax invoice, Commercial, statement, and Purchase Order (PO) (CCIT2)
  2. Review the Trading Inventory Company (CCIT2)

Lecture
Hands-on Work on QuickBooks Online (individually)

Reading: Chapter 3 of Lecture Handouts
26 Create User Stories to articulate requirements (reflections of QuickBooks lessons step-by-step) Lecture
Hands-on Practice
27 Review
Quiz 2		  
28

Apply QuickBooks Part III Trading Inventory Company 

Case Study 4

  1.  Prepare the financial statement for trading inventory company and close accounting books (CK2, CCIT1)

Lecture
Hands-on Work on QuickBooks Online (individually)

Reading: Chapter 4 of Lecture Handouts
29

Apply QuickBooks Part III Trading Inventory Company 

Case Study 4

2. Prepare the financial statement for trading inventory company and close accounting books (CK2, CCIT1)

Lecture
Hands-on Work on QuickBooks Online (individually)

Reading: Chapter 4 of Lecture Handouts
 30 Review Session, covering Service Company, Inventory Trading Company and Manufacturing Company

Lecture

Reading: Chapter 5 of Lecture Handouts
Total Hours: 45 hours  

9. 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

Education Resources