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Computerized Managerial Accounting Projects Using Microsoft Great Plains Dynamics 1st Edition
AuthorStacy E. Kovar A computerized managerial accounting practice set that includes and uses a full operating version of Microsoft Great Plains Dynamics, Version 6.0 (commercially available accounting software for mid-size companies). CONTENTS:Chapter 1 – Introduction Chapter 2 – Installation Chapter 3 – Familiarization Chapter 4 – Creating Reports Project 1 – Job Order Costing Project 2 – Activity–Based Costing Project 3 – Process Costing Project 4 – Cost Behavior Project 5 – Variance Analysis Project 6 – Performance Evaluation
Objectives of the CaseExpose students to a working computerized management accounting information system. Reinforce key managerial accounting concepts using a realistic, active learning case. Teach students to use Microsoft Great Plains Dynamics.
About Microsoft Great Plains Dynamics · Highly respected computerized accounting software for medium-sized businesses. Great Plains was purchased by Microsoft in 2001
A High Quality SupplementBecause there is no comparable product on the market, a price comparison is not possible. There are other accounting supplements available to students that are somewhat similar in length, but they do not include Microsoft Great Plains Dynamics software.
Intended CoursesDepending on the focus, these projects can be used in any managerial accounting course. The projects were designed primarily for junior or senior level managerial accounting courses and accounting information systems courses with a managerial focus. They have also been used successfully in MBA and Masters of Accountancy courses. They can also be used in a focused introductory managerial course.
Key Activities
· Enter transactions into Dynamics.
ProjectsSix projects are provided that can be assigned independently or omitted at the professor's preference:
Project Descriptions and Estimated TimeStudents need about 20 hours to complete all projectsif none are omitted by the professor. This portion of the project must be completed by all students and walks students through installing the software, introduces them to the basics of using the software and teaches them to create reports. Job Order Costing - 2½ hours Students record transactions to (1) order raw materials, (2) set up a bill of materials, (3) record manufacture of components and finished goods, and (4) compute and dispose of over/under applied overhead at the end of the period. Throughout the process, students investigate the effects of transactions on the bill of materials, inventory, accounts payable and the general ledger data. Activity-Based Costing - 3½ hours The two-staged process of ABC is illustrated. Students export data about resource cost from Dynamics to Excel, assign resource costs to activities and compute activity costs. ABC data is then entered into Dynamics and students must compare ABC cost to cost computed before ABC, evaluating the effect on decisions made by the company. Process Costing - 2½ to 4 hours In the short version of this project, students enter all transactions in a weighted average process costing system with two departments and five cost categories. Students must follow the flow of costs through both general ledger and detailed inventory accounts form the purchase of raw materials to the sale of finished goods. In a lengthened version, students perform all of the process costing computations and enter transactions for an additional month Cost Behavior - 2½ hours The regression method for analyzing cost behavior is illustrated. Students create a report to output 12 months' worth of cost and cost driver data from Dynamics. This information is exported to Microsoft Excel and combined with additional data to construct cost equations for key costs. Students use relevant statistics to evaluate each cost equation and compare alternative cost drivers. Standard Costs and Variance Analysis - 2 hours This project illustrates variance analysis for materials, labor and variable overhead for individual production jobs. The source of individual variances is emphasized through recording of the transactions that give rise to the variances. Price variances are illustrated using both units purchased and units manufactured. Students compute variances as described in most cost accounting texts, and then compare these variances with those provided in standard Dynamics reports. Performance Measurement using ROI and Residual Income - 2½ hours Students compute ROI and residual income, comparing different product segments and analyzing a new investment. The usefulness of each of these measures for different purposes, as well as issues related to the allocation of costs and assets for performance measurement are addressed.
Materials Included· The same commercially available Microsoft Great Plains Dynamics software purchased by businesses. Version 6.0 is used. · All data files. · Instructor's Guide and Solutions (available to instructors only).
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