Comet Buildings Ltd is a simulation specialized for Simply Accounting® software. It tests a student's understanding of the six modules of the software (General, Accounts Receivable, Accounts Payable, Payroll, Inventory, and Projects.)
Two months of transactions for an established merchandising company are represented by sales, purchase and expense invoices; job materials lists; time sheets; memos; and commission reports in addition to the usual banking documents (cheque stubs, deposit slips, and bank statements.) Students are required to establish the data set and enter opening balances from the provided trial balance and year-end working papers.
Students require a solid understanding of accounting theory and software
procedures to successfully complete the project. All of the necessary
information is given to establish the modules and enter the opening
balances, but students are required to read and interpret the data from
the financial schedules given. Details for software setup are not provided;
students must be familiar with the features of the software and make
appropriate decisions. Processing of the transactions for both months
requires 180 entries.
The Computer Option of First Choice Carpets Inc includes a trial balance and related schedules summarizing the first month's business activity. This allows students the experience of entering opening balances into a computerized data base. The transactions of the second and third month are provided by the same transaction and banking documents as in the manual version. The Computer Option is usable with any comprehensive accounting software using the General Ledger, Accounts Receivable and Accounts Payable modules with the Inventory and Payroll modules an option.
If entering opening balances is not an important consideration, First Choice Carpets Inc (and its companions, Mountain Carpets Ltd and Blue Ribbon Carpets) can be packaged without the manual ledgers for a three-month computerized accounting project.
|First Choice Carpets Inc - Computer Edition||ISBN 978-1-896421-54-4|
Compu-Keys Computer School has grown rapidly in seven months! The business now has four people on its payroll and sells software, books and teaching aids to its students. Students re-visit the familiar situation (from their processing of Compu-Keys Computer School manually in an earlier course), establish a computerized data set, enter the historical balances and process an additional month of transactions.
The focus of Part II is on learning to use the accounting software. Although
designed as a continuation of the accounting simulation students may have
processed in an earlier course, manual completion of that simulation is
not a requirement for Part II. Source documents
(bound in booklet form for ease of use in the confined space of computer
labs) are provided along with deposit slips, cheque stubs and bank statement.
An ideal project to use with Simply Accounting software.
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