Course Title:  Computerized Accounting   600 hrs

   

Course Objectives

 

Upon completion of this curriculum, the student will obtain the necessary knowledge and skill to perform the daily tasks of the position as a Bookkeeper or Accountant. This includes becoming proficient in the use of QuickBooks and Peachtree softwares.

 

Course Outline

 

UNIT 1: BUSINESS MATH

 

Module 1: Fundamental Processes

            Addition

                        Number Combinations

                        Repeated Digits

                        Checking Addition and Horizontal Addition

 

            Subtraction

                        Checking Subtraction

                        Horizontal Subtraction

                        Subtraction by Changing Numbers

 

            Multiplication

                        Multiplying Numbers Ending in Zero

                        Multiplying When the Multiplier

                        Contains Zero Not on the End

 

            Division

                        Checking Division

                        Dividing When the Divisor

                        Dividend End with Zeros

 

Module 2: Percentage

            Write Percent as Decimals and Fractions

                        Fractions Versus Decimal Numbers

                        Changing Fractions and Decimals to Percents

 

            Using Percentage to solve problems

                        Solve for Part Using the Percent Formula

                        Solve for Base Using the Percent Formula

                        Solve for Rate Using the Percent Formula

                        Solve Increase/Decrease Percent Problems

 

Module 3: Accounting Applications

            Banking

                        Using Deposit Slips and Bank Checks

                        Maintaining Checkbooks and Check Registers

                        Reconciling Bank Statements

            Payroll Records

                        Preparing a Payroll Register

                        Computing Federal Income Tax

                        Computing Social Security, Medicare, and Other Withholdings

                        Federal Tax Return

 

Module 4: Interest Applications

            Simple Interest

                        Computing Simple Interest

                        Computing Ordinary Interest

                        Computing Exact Interest

 

            Exact Interest

                        Use of Calculators

 

            Estimating Simple Interest

                        Combinations of Time and Interest That Yield 1%

                        Other Rates and Times

                        Estimation of Exact Interest

 

Module 5: Basic Business Application

            Business Auto Insurance Costs

                        Computing Auto Insurance Costs

                        Computing Low-Risk and High-Risk Rates

                        Computing Coinsurance on Property Losses

                        Computing Cash Surrender and Loan Values

 

            Business Inventory and Turnover 390

                        Accounting for Inventory

                        Computing Inventory, Using the Average Cost, FIFO, and LIFO Methods

                       

            Computing Inventory at the Lower of Cost or Market Value

                        Estimating Inventory Value

                        Computing Inventory Turnover

 

UNIT 2: MICROSOFT EXCEL

 

 Module 1:  Basic Excel Introduction

Introduction to Basic Excel Environment

                        Keyboard commands to move around Excel Spreadsheet

                        Input data into a Spreadsheet

 

            Creating a Basic Worksheet, Replacing and Filling Data

           

 Module 2:  Formatting a Worksheet

Formatting a Worksheet and Entering Data

                        Formatting Text Color, Fill Color, Number Style

                        Filtering, Sorting and Inserting Comments

 

            Editing Data and Merging Data in Excel

                        Working with Data Consolidation

                        Recording Macros in Excel

                        Editing Macro

 

            Understanding Charts Using Excel and Printing in Excel

                        Using 3D reference

                        Using AutoFormat

                        Merging Cells

                        Using Pivotal Table in Excel

 

  Module 3: Setting Up Formulas

Understanding Formulas in Excel

                        Using Advanced Formulas in Excel

                        Protecting Workbook/Worksheet

                        Using the formula bar

 

UNIT 3: ACCOUNTING

 

Module 1: The Nature of Accounting

            Users of Accounting Information

 

            Forms of Business Organization

 

            The Elements of Accounting

                        Assets

                        Liabilities

                        Owner’s Equity

 

            The Accounting Equation

 

            Business Transactions and the Accounting Equation

                        The Dual Effect of Business Transactions

                        Recording the Effect of Transactions on the Accounting Equation

                        Summary of Transactions

 

            Financial Statements

                        The Income Statement

                        The Statement of Owner’s Equity

                        The Balance Sheet

 

Module 2: Recording Business Transactions

            The Account

            Debits and Credits

            Recording Transactions in Asset, Liability, and Owner’s Equity Accounts

           

Temporary Owner’s Equity Accounts

                        Rules of Debit and Credit as Applied to Revenue and Expense Accounts

                        Recording Transactions in Revenue and Expense Accounts

                        Owner’s Drawing Account

           

The Trial Balance

            Normal Balance of Accounts

            Summary of Debit and Credit Rules

 

Module 3: Starting the Accounting Cycle for a Service Business

            The Accounting Cycle

            Step 1: Analyze Transactions from Source Documents

 

            Step 2: Record Transactions in a Journal Making Journal Entries

                        Making Journal Entries

                        Compound Journal Entry

                        Advantages of Using a Journal

 

            Step 3: Post from the Journal to the Ledger

                        The Chart of Accounts

                        The Four-Column Ledger Account Form

                        Posting Illustrated

 

            Step 4: Prepare a Trial Balance of the Ledger

                        Summary of the First Four Steps in the Accounting Cycle

 

            Locating and Correcting Errors

                        Types of Errors

                        Correcting and Error

                        Summary of Error Correction Procedures

           

Errors That Do Not Cause the Trial

                        Balance to Be Out of Balance

 

 

Module 4: Work Sheet, Financial statements, and Adjusting Entries

            Determine Needed Adjustments

                        Supplies Used

                        Insurance Expired

                        Depreciation of Office Equipment and Office Furniture

                        Unpaid Salaries 

                        The Matching Principle of Accounting

 

            Prepare a Work Sheet

 

            Prepare Financial Statements from a completed Work Sheet

                        The Income Statement

                        The Statement of Owner’s Equity

                        The Balance Sheet

                        Showing Additional Investments on the Statement of Owner’s Equity

           

Journalize and Post Adjusting Entries

 

Module 5: Closing Entries and The Post-Closing Trial Balance

            Journalize and Post Closing Entries

                        Steps in the Closing Process

                        Journalizing Closing Entries

                        Diagram of the Closing Process

                        Posting Closing Entries

            Prepare a Post-Closing Trial Balance

 

Module 6: Cash and the Combined Journal

            Cash Defined

 

            Control of Cash

                        Designing a Combined Journal

                        Recording Business Transactions in a Combined Journal

                        Proving the Combined Journal

                        Posting the Combined Journal

 

            Accounting for Petty Cash

                        Establishing the Petty Cash Fund

                        Making Payments from the Petty Cash Fund

                        Petty Cash Payments Record

                        Replenishing the Petty Cash Fund

 

            The Change Fund

 

            Cash Short and Over

 

            Bank Checking Accounts

                        Maintaining a Checking Account

                        Signature Card

                        Making Deposits

                        Endorsements

 

            Writing Checks

 

            The Bank Statement

                        Reconciling the Bank Statement

                        Updating Cash Records

                        More Detailed Bank Reconciliation

 

Module 7: Accounting For a Merchandising Business-Purchases and Cash Payments

            Recording Purchase of Merchandise

                        The Purchases Account

                        Recording Purchases

                        The Purchases Journal

 

            The Accounts Payable Subsidiary Ledger

                        Posting the Purchase Journal

                        Posting to the Accounts Payable Ledger

                        Posting to the General Ledger

 

            Merchandise Returns and Allowance

                        Purchasing Returns and Allowances

                        Recording Purchases Returns and Allowances

 

            Recording Cash Payments

                        The Purchases Discounts Account

                        Cash Payments Journal

 

            Posting the Cash Payments Journal

                        Posting to the Accounts Payable Ledger

                        Posting Individual Entries in the General

                        Posting Special Column Totals to the General Ledger

 

Module 8: Accounting for a Merchandising Business- Sales and Cash Receipts

            Sales Activity

                        Terms of Payment

                        Procedures for Credit Sales

                        Procedure for Cash Sales

 

            Recording Sales of Merchandise

                        Recording Sales in General Journal Form

                        Recording Sales in Sales Journal

 

            Recording Cash Receipts

                        Cash Receipts Journal

                        Posting the Cash Receipts Journal

 

            Schedule of Accounts Receivable

 

            Accounting for Sales Taxes

                        Recording Sales Taxes Collected

                        Recording Sales Tax in a Sales Journal

                        Sales Returns Involving a Sales Tax

           

Credit Card Sales

                        Bank Credit Card Sales

                        Recording Bank Credit Card Sales

 

Module 9: Work Sheet and Adjustments for a Merchandising Business

            Chart of Accounts for a Merchandising Business

 

            Determining Needed Adjustments

                        Adjustments for Merchandise Inventory

                        Adjustments for Store Supplies Used

                        Adjustments for Office Supplies Used

                        Adjustments for Insurance Expired

                        Adjustments for Depreciation Expense

                        Adjustment for Salaries Owed but Unpaid

 

            The End-of-Period Work Sheet

                        The Trial Balance and Adjustments Columns

                        The Adjusted Trial Balance Columns

                        Financial Statement Columns

                        Completing the Work Sheet

 

Module 10: Financial Statements and Closing Entries for a Merchandising Business

            Preparing Financial Statements for a Merchandising Business

                        The Classified Income Statement

                        The Completed Income Statement

                        The Statement of Owner’s Equity

                        The Classified Balance Sheet

                        Working Capital and the Current Ratio

           

Journalizing Adjusting Entries

 

            Closing Entries for a Merchandising Business

 

            The Post-Closing Trial Balance

 

            Reversing Entries

 

            Interim Statements

 

Module 11: Accounting for Payroll- Employee Earnings and Deductions

            How Employees are Paid

                        Fair Labor Standards Act

                        Piece-Rate Plans

 

            Calculating Gross Earnings

 

            Payroll Deductions

                        FICA Tax (Social Security)

                        The OASDI Taxable Wage Base

                        The FICA Tax Rates

                        Federal Income Tax

                        State and Local Income Taxes

                        Other Deductions

 

            Calculating Net Earnings (Take-Home Pay)

 

            Payroll Record Keeping

                        The Payroll Register

                        Employee’s Earning Record

           

Payroll Systems

                        Manual Payroll System

                        Computerized Payroll System

           

Accounting Entry for Employee Earnings and Deductions

                        Salaries Expense

                        FICA Tax Payable – OASDI and FICA Tax Payable

                        Federal Income Tax Payable

                        Other Amounts Withheld

                        Making Payment to Employees

 

Module 12: Accounting for Payroll-Employer Taxes and Reports

            Employer Identification Number

           

Employer Payroll Taxes

                        FICA Tax

                        Federal Unemployment Tax

                        State Unemployment Tax

           

Recording Employer’s Payroll Taxes

                        FICA Tax Payable

                        FICA Tax Payable-HIP

                        FUTA Tax Payable

                        SUTA Tax Payable

           

Filing and Making Payroll Tax Payments

                        FICA and Federal Income Taxes

                        Federal Unemployment Taxes

                        State Unemployment Taxes

                        Form W-2 Wage and Tax Statement

                        Form W-3 Transmittal of Wage and Tax Statements

           

Paying Other Amounts Withheld

 

            Worker’s Compensation Insurance

 

            Paying Other Amounts Withheld

 

 

UNIT 4: COMPUTERIZED ACCOUNTING

 

Module 1: Setting Up New Company

                        Setting Up New Company through Easy Step

                        Starting Balances for Vendors and Customers

                        Customizing the General Ledger

                        General Tour of QuickBooks once Company is Set Up

 

Module 2: QuickBooks

                        Using Invoice Form, Purchase Order Form

                        Entering Bills

                        Paying Bills

                        Setting Up Vendors and Customers

                        Receiving Payments from Customers

 

Module 3: Peachtree

                        Setting Up New Company through Setup Process

                        Setting Up Sales Taxes

                        Entering Invoices

                        Entering Bills

                        Adding Vendors and Customers to the Mail List

                        Running Reports from Accounts Payable

                        Payroll Wizard