Computerized Accounting Using Microsoft Business Solutions - Great Plains 4th Edition (2008)

Authors

Arens & Ward
ISBN# 978-0-912503-28-8

Computerized accounting practice set, including and utilizing a full operational version of Microsoft Dynamics GP, Version 10.0 (commercially available accounting software for mid-sized companies).

Early chapters provide installation, familiarization and practice. These are followed by the case project of recording transactions and adjustments and performing month-end and year-end closing procedures. Final chapters include internal controls, new company setup and advanced features, including use in a large company. Estimated completion time 20-25 hours with options for the Instructor to reduce time required.

Instructions & Assignments book:
  Chapter 1: Introduction and Software Installation
  Chapter 2: Familiarization
  Chapter 3: Overview of Activities Using Microsoft Dynamics GP
  Chapter 4: Practice - Revenue Cycle Activities
  Chapter 5: Practice - Expenditure Cycle Activities
  Chapter 6: Practice - Payroll Cycle and Other Activities
  Chapter 7: Recording Transactions and Adjustments and Performing Month-end and Year-end Closing Procedures
  Chapter 8: Internal Controls
  Chapter 9: New Company Setup

Reference book:
Introduction
Revenue Cycle Activities:
    · Make a Credit Sale
    · Make a Cash Sale
    · Receive Goods on a Sales Return
    · Collect an Outstanding Account Receivable
    · Write-off an Uncollectible Account Receivable
    · Receive a Miscellaneous Cash Receipt
    · Make a Bank Deposit
Expenditure Cycle Activities:
    · Prepare a Purchase Order
    · Receive Goods from a Purchase Order
    · Pay a Vendor's Outstanding Invoice
    · Purchase Goods or Services Without a Purchase Order
Payroll Cycle Activities:
    · Pay Employees
Other Activities:
    · Prepare a General Journal Entry
    · Adjust Perpetual Inventory Records
    · Prepare a Bank Reconciliation
    · Perform Maintenance Activities
    · Depreciate Fixed Assets and Perform Other annual Fixed Asset Procedures
    · Post Transactions to the General Ledger
    · Age Accounts Receivable and Print Customer Monthly Statements
    · Generate Standard Reports
    · Generate Customized Reports for Waren
    · Perform Year-end Closing Procedures
Appendices:
    · Appendix A - Error Correction
    · Appendix B - Excel PivotTable Instructions
    · Appendix C - SmartList Guidance

Microsoft Dynamics GP 10.0 is . . .
Use This Supplement with the Systems Understanding Aid
About the Materials
Assignments
Materials Included
Student Benefits
Faculty Benefits
Estimated Completion Time

Microsoft Dynamics GP 10.0 is . . .

Highly respected computerized accounting software for medium-sized businesses. Great Plains was purchased by Microsoft in 2001.
More sophisticated than most accounting software for small businesses. A typical application costs several thousand dollars installed.
Relevant for accounting majors who will be working with a CPA firm or in industry.
Easy for students to learn and use. Instructions are provided with the materials.

Use This Supplement with
the Systems Understanding Aid

Many faculty adopting Computerized Accounting Using Microsoft Dynamics GP 10.0 first assign the Systems Understanding Aid, also by Arens and Ward. That project takes students between 15-20 hours to complete.

The Systems Understanding Aid is a manual accounting system that includes extensive documents and records, internal controls, and flowcharting. Students use the flowcharts to prepare documents, perform internal controls and record a small number of transactions in all major transaction cycles. Students also prepare adjusting and closing entries, prepare accounting schedules such as bank reconciliation, an aged accounts receivable trial balance, a monthly accounts receivable statement and financial statements.

Doing the manual project benefits students by helping them to visualize the entire accounting process, including what happens at each step. They are also learning through reading flowcharts and preparing documents and doing such things as reconciling a subsidiary record and control account.

After completing the Systems Understanding Aid, students are then assigned Computerized Accounting Using Dynamics GP 10.0. One option in the project is to have students record the same transactions that were already recorded in the Systems Understanding Aid. After students have done both projects, they will have a better understanding of what happens in computerized systems. This understanding facilitates exploring such topics as the documents used in computerized systems and computerized internal controls.

About the Materials

Written to help students learn and feel comfortable using computerized accounting software.
Each student receives an educational version of Microsoft Dynamics GP, Version 10.0, on a DVD. The educational version has a 120-day expiration period, but has essentially the same functionality as the version of the software that is sold to businesses.
Developed to get students using the computer quickly and confidently going from simple to more complex assignments.
Extensively tested using students with only principles of accounting backgrounds.
Suitable for any course beyond principles where faculty want students to understand and use computerized accounting software.
Includes an optional chapter on key internal controls incorporated into the software. Students learn about internal controls by using the software.
Includes optional problem materials throughout the project that require students to do more data analysis and interpretation.

Assignments

All assignments include sufficient instructions, practice, and reference material to enable students to use accounting software with increased confidence. Students will do the following:

Assignment 1	Introduction and Software Installation. Students install the software on their computer and learn how to enter and exit Microsoft Dynamics GP without assistance.
Assignment 2	Familiarization. Students learn the primary features in Computerized Accounting Using Microsoft Dynamics GP 10.0 through a series of practice exercises with explanations.
Assignment 3	Overview of Activities Using Microsoft Dynamics GP. Students learn the various activities that can be done using Microsoft Dynamics GP through a series of practice exercises and problems.
Assignment 4	Practice. Students process twenty-two types of transactions and other activities such as maintenance using the Reference book as guidance.
Assignment 5	Record transactions and adjustments, and perform month-end and year-end closing procedures. Students process typical business transactions and perform other activities for a company with only the Reference book as guidance.
Assignment 6	Internal controls. Students learn about internal controls through a series of exercises, using their knowledge about internal controls and experience gained using Computerized Accounting Using Microsoft Dynamics GP 10.0.
Assignment 7	New company set–up. Using information provided, students learn how to set up records for a new company using default information in the system and to modify that information.

Materials Included

Instructions & Assignments book developed by the authors to teach students how to use Computerized Accounting Using Microsoft Dynamics GP 10.0 software. These materials include all assignments and requirements.
Reference book developed by the authors to assist students in completing all assignments.
120-day operating version of Microsoft Dynamics GP 10.0 software. The software has essentially the same functionality as the version of software that is sold to businesses.
Instructor’s Guide and Solutions (available to instructors only).

Student Benefits

Students begin using the computer with Microsoft Dynamics GP within ten minutes after starting the project.
Students use the computer to do all work in the project.
Each assignment is reasonably short to retain student interest and provide maximum learning experience.
Students can redo any assignment.
Assignments are designed on a step-by-step basis from simple to more complex.
The project uses five companies, from simple to complex, to provide different learning experiences.
The entire project takes approximately 20-25 hours, with options for the instructor to reduce the time it takes to complete the project.

Faculty Benefits

Students are able to learn the software and complete the project with minimal professor involvement.
Technical support is available from the publisher and Microsoft Dynamics GP.
Students can use laboratory or personal computers to complete the project. Project provides every student with Program and Data CDs and all other materials and information needed.
Students find the project an excellent learning experience and satisfying.
Faculty have flexibility to include assignments or eliminate the more complex ones.
Detailed instructions for assigning and grading are provided.

Estimated Completion Time

Systems Understanding Aid
15-20 hours, with options for the Instructor to reduce time required.

Computerized Accounting Using Microsoft Dynamics GP 10.0
20-25 hours, with options for the Instructor to reduce time required.