CAC 205 Computerized Accounting

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1 CAC 205 Computerized Accounting Instructor Name: Jason Wu Instructor Contact Number: (347) Course Name: Computerized Accounting (3 credits) Course Code: B Track CAC205 FLD2 Course Term: April 12, 2016 July 27, 2016 Class Hours: Tuesday 06:10 PM 09:00 PM Lab Hours: Tuesday 09:10 PM 10:00 PM Class Room: M307 PC Teaching Website: Required Text Book and Supplementary Materials: Villani, Kathleen and Rosa, James. Computerized Accounting with QuickBooks Minnesota: EMC Paradigm, ISBN: Required Reading: Related chapters in the required textbook. Please see details in the following course schedule as assigned by the Instructor. Lecture Notes. Other materials that will be handed out during the semester. Method of Evaluation and Grading: The final grade will be based upon completing class work, homework, quizzes, tests, and a final exam. J. Wu, last updated April 12, 2016 Page 1 of 10

2 Evaluation Grade Percentage1Equivalency Homework(Assignments 20% A Classwork 15% B Projects 20% B Midterm(Exam 20% C Final(Exam 25% C D D F 0359 W Withdrawal grade is assigned when a student withdraws from a course before the 12 th week of the semester, or processes an Official Withdrawal from the semester with the Registrar s Office. NS No-show grade is assigned by the Faculty at the end of a semester when an enrolled student has not attended from the first day of the course. Out-Of-Class Student Work: Students are expected to complete 2 hours of out-of-class work for every hour of time spent in class. This out-of-class work can include the following, where applicable: lab, reading, research, exercises, and steno practice. Academic Honesty: It is the responsibility of every student enrolled at LIBI to support the principles of academic integrity and to refrain from all forms of academic dishonesty, including but not limited to the following: plagiarism, falsification, fabrication, or misrepresentation of data, unauthorized assistance, cheating, deliberately providing false information, forging, falsifying or misusing LIBI documents, and assisting or aiding another to engage in acts of academic dishonesty. Additional information can be found in the LIBI Student Handbook at CLASS POLICY REGARDING ELECTRONIC DEVICES: electronic devices are to be turned off. Prior to class session, all Students with Disabilities If you anticipate issues related to the format or requirements of this course, please meet with your instructor. The instructor can discuss ways to ensure your full participation in the course. If you determine that formal, disability-related accommodations are necessary, it is very important that you formally process your disability paperwork with the Office of the Registrar (located in the Main building on the 5th floor at the Flushing Campus, the 2nd Floor of the Commack Campus or the 2nd Floor of the Manhattan Extension Center) within the first ten school days of the semester so that they can notify the instructor of your eligibility for accommodation. J. Wu, last updated April 12, 2016 Page 2 of 10

3 THIS COURSE OUTLINE IS SUBJECT TO CHANGE AS NEEDED TO MEET THE OBJECTIVES OF THE COURSE OR TO AID IN COURSE ADMINISTRATION AT THE DISCRETION OF THE INSTRUCTOR. IT IS NOT ANTICIPATED THAT THERE WILL BE ANY SUBSTANTIVE CHANGES. Course Outline: CLASS DATE TOPICS CHAPTER ASSIGNMENT 1 04/12 Class Starts Welcome, Introduction to Course Course Syllabus and Outline Describe the differences and similarities between manual and computerized accounting Identify the four levels of operation within QuickBooks Open QuickBooks Open a company file Make a backup copy of a company file Restore a backup copy of a company file Change the company name in a company file 1 QuickBooks 2013: Overview, Open a Company File, Create Backup Copy, restore a Backup Copy Read: p.1-2 to 1-4, p.1-13, 1-22 to p.1-26 to 27 ; p.1-25 to 26 Key Concepts & 2 04/19 Identify the system default accounts for vendors Update the Vendor Center Record purchases on account in the Enter Bills Process credit memos in the Enter Bills 2 Vendors: Enter Bills, Pay Bills, and Cash Payments Read: p.2-2 to 2-3, practice Project #1: p.2-37 to 2-41 Record payments of accounts payable in the Pay Bills Record cash purchases in the Write s p.2-36 to 2-37 Display and print vendor- J. Wu, last updated April 12, 2016 Page 3 of 10

4 related reports 3 04/26 Identify the system default accounts for customers Update the Customer Center Record sales on account in the Create Invoices Record collections of accounts receivable in the Receive Payments 3 Customers: Create Invoices, Receive Payments, Enter Sales Receipts, and Make Deposits Read: p.3-2 to 3, practice Project #2: p.3-33 to 3-35 Record cash sales in the Enter Sales Receipts Record deposits in the Make Deposits Display and print customerrelated reports p.3-32 to /03 Update the Chart of Accounts List Record adjustments in the Make General Journal Entries View the effect of periodend adjustments on the trial balance 4 Period-End s: Make General Journal Entries Read: p.4-2, practice Project #3: p.4-39 to 4-41 Display and print period-end accounting reports Change the reports display using the Customize Report button p.4-32 Key Concept & Display and print accounting reports and financial 5 05/10 Identify the two inventory systems Update the Item List Record purchases of inventory items in the Enter 5 Inventory: Receive Items, Sell Items, Process Sales Discounts, Adjust Quantity/Value on Hand, and Read: p.5-2 to 5-3, practice J. Wu, last updated April 12, 2016 Page 4 of 10

5 06 05/17 Bills and Write s s Identify transactions requiring sales tax Process sales discounts Record adjustments to inventory items in the Adjust Quantity/Value on Hand Record payment of sales tax in the Pay Sales Tax Display and print inventoryrelated reports Display and print accounting reports and financial Create a new company file and establish preferences using the QuickBooks Detailed Start method and EasyStep Interview Setup the Customer Center, Vendor Center, and Item List using the QuickBooks Setup Review information recorded in the EasyStep Interview and QuickBooks Setup s Customize the Chart of Accounts List, System Default Accounts, and Terms List Pay Sales Tax Project #4: p.5-39 to New Company Setup-- Advanced Setup: EasyStep Interview and QuickBooks Setup p.5-37 to 5-38 Read: p.6-2 to 6-3, practice Project #5: p.6-66 to 6-79 J. Wu, last updated April 12, 2016 Page 5 of 10

6 07 05/ /31 Create a new company file and establish preferences using the QuickBooks Detailed Start method and EasyStep Interview Setup the Customer Center, Vendor Center, and Item List using the QuickBooks Setup Review information recorded in the EasyStep Interview and QuickBooks Setup s Customize the Chart of Accounts List, System Default Accounts, and Terms List Review Midterm Exam 1 5 Midterm Exam 1 5 p.6-65 Key Concept & 09 06/07 Create a new company file without using the QuickBooks Express Start method 7 New Company Setup Express Start: Set Up Company Preferences Read: p.7-2 to 7-3, practice Establish preferences Update the Chart of Accounts List Customize the System Default Accounts and Terms List Update the Item List Project #6: p.7-49 to 7-60 Update the Customer and Vendor Centers Adjust the new company file to follow the accrual basis of accounting p.7-48 to 7-49 Display and print accounting reports and financial J. Wu, last updated April 12, 2016 Page 6 of 10

7 10 06/14 Review payroll terminology Activate the payroll preference Customize payroll system default accounts Customize and update the Chart of Accounts List for payroll 8 Payroll Setup: Custom Setup Read: p.8-2 to 8-5, practice Project #7: p.8-27 to 8-31 Set up payroll to accept manual entries Customize the Payroll Item List for payroll items created by QuickBooks p.8-26 to 8-27 Update the Payroll Item List Display and print the Payroll Item Listing report 11 06/21 Review accounting for payroll transactions Update the Employee Center Record payroll in the Pay Employees s 9 Payroll Processing: Pay Employees, Pay Payroll Liabilities, and Process Payroll Forms Read: p.9-2 to 9-4, practice Project #8: p.9-31 to 9-37 Record payments of payroll taxes in the Pay Liabilities Display and print payrollrelated reports, accounting reports, and financial p.9-30 to /28 Transfer funds between accounts using the Transfer Funds between Accounts Reconcile cash accounts using the 10 Banking: Transfer Funds, Reconcile Read: p.10-2 to 10-4, practice J. Wu, last updated April 12, 2016 Page 7 of 10

8 Reconcile Enter credit card charges using the Enter Credit Card Charges Accounts, and Enter Credit Card Charges Project #9: p to or 2 Pay credit card charges using the Write s Display and print banking-related reports, accounting reports, and financial p to /05 Add a job to the Customer Center Record and allocate payroll incurred for a specific job in the Pay Employees s Record and allocate services rendered for a specific job in the Create Invoices s Set up Time Tracking Track employee time for each job using the Weekly Timesheet Pay employees using Time Tracking data Create Invoices using Time Tracking data Create Customer Statements Display and print job and time tracking reports, accounting reports, and financial 11 Jobs and Time Tracking: Record Job Income, Record Job Payroll Expenses, Track Time for Employees and Jobs, and Create Customer Statements Read: p.11-2 to 11-3, practice Project #10: p to or 2 p Key Concept & 14 07/12 Customize the desktop with the home page and icon bars Customize Lists/Centers including subaccounts, merge entries, and custom fields Customize Activities including activity display and related invoice, QuickBooks Letter in Microsoft Word, memorize transactions Customize Reports including the appearance of reports, memorize settings, export a report into Microsoft Excel, process multiple reports, change report default settings, view and print a graph 12 Customizing Your Company File: Desktop, Reports, Invoices, Letters, Memorized Transactions, and Fiscal Year Read: p.12-2, practice Project #11: p to or 2 J. Wu, last updated April 12, 2016 Page 8 of 10

9 View fiscal year closing, set closing date, prepare for new fiscal year Appendix A Open or Restore a Company File Appendix B Manual Accounting vs. QuickBooks Appendix C Journal Report Types Appendix D Purchase Orders Appendix E Customer Credits and Bad Debt Write-offs Appendix F New Company Setup Methods Appendix G QuickBooks Payroll Setup Window Appendix H Sick and Vacation Paid Time Appendix I Setting Up QuickBooks For Multiple Users Appendix J Setting Up Passwords and Users p Key Concept & Read: p.a-1 to A-40; Practice: Appendix A-J 15 07/19 Ø Final Exam Part # (Cumulative with Appendices) Ø Final Exam Part #1 and #2 Part #2 Multiple Choice Questions Part #3 Essay Questions 1-12 (Cumulative with Appendices) J. Wu, last updated April 12, 2016 Page 9 of 10

10 Notes: 1. Violations of the academic integrity policy will result in an automatic F on the course and serious disciplinary actions. 2. Please show respect to your classmates; allow the speaker to make his/her point before you jump in. 3. All exams will be closed book. The only materials you will be allowed to bring in are pencils/pens and a financial calculator. 4. There is NO makeup exam except for medical emergency as proved by a written note from a doctor with contact information for verification purpose. 5. Cell phones are distraction and must be turned off in the classroom; graphing, scientific calculators and PDA s are strictly prohibited on the exam. 6. Please include CAC205 FLD2 in the subject line of your Assignments Requirements: 7.1 Assignments will NOT be accepted if written on paper torn from a notebook, paper with untidy edges (paper taken from spiral notebooks) or paper less than 8.5 x 11 inches. 7.2 All hand-written assignments (in-class, tests, etc.) must be done in ink (black or blue). Work done in pencil will not be accepted. There are NO exceptions to this. 7.3 All homework assignments must be typed and submitted by the due date. Late papers will be accepted up to one week past the due date and will receive a maximum of 75%. Please understand that you are still responsible for submitting an assignment on time whether you were absent on the date given or the date due. 7.4 Format for written homework assignments: Homework assignments must be typed, double spaced using a 12 point font. They can be handed in or delivered by ; At the top of the page type: Student Name: Course Name/Code: Instructor s Name: Date: Assignment name/title must be centered; Number each page if more than one page. J. Wu, last updated April 12, 2016 Page 10 of 10