ACC308 Accounting Information Systems
Week 1 Discussion
DQ1 Computerized Accounting Software [WLOs: 1, 2, 3] [CLOs: 1, 2, 3, 5, 6]
Prior to beginning work on this discussion forum, read Chapters 1 and 2 in the course textbook. Discuss the advantages and disadvantages of using a computerized accounting software package. What specific challenges would you face when converting from a non-computerized accounting method to a system like QuickBooks?
DQ2 Chart of Accounts [WLOs: 1, 2, 3] [CLOs: 1, 2, 3, 5]
Prior to beginning work on this discussion forum, read Chapter 1 in the course textbook. Why is the customer interview process important regarding the Chart of Accounts (COA)? Why would you customize a COA to a specific business? How would the COA differ for a service business versus a retail business?
ACC308 Accounting Information Systems
Week 2 Discussion
DQ1 Company Interview [WLOs: 1, 2, 3] [CLOs: 1, 2, 3, 5, 6]
Prior to beginning work on this discussion forum, read Chapters 3 and 4 in the course textbook. Discuss how you would interview a client at a new company to understand their business. Develop a list of questions you would ask that would allow you to customize QuickBooks to better serve the client’s financial and management accounting needs.
DQ2 Business Plan [WLO: 4] [CLOs: 1, 2, 3, 5, 6]
Prior to beginning work on this discussion forum, read the webpage, How to Write a Business Plan (Template): 10 Steps, 5 Tips, and Examples to Guide You (Links to an external site.).
During a discussion with your new small business client, who is just starting a business, you ask him if he has developed a business plan. He responds that he does not have time for all that formal stuff, which is a waste of time. You briefly discuss the components with him, and he agrees that there are three or four areas he could use some help with.
For this discussion forum, review the webpage, How to Write a Business Plan (Template): 10 Steps, 5 Tips, and Examples to Guide You (Links to an external site.), and select three or four areas that you think are very important when starting a new business. Discuss the components of the areas and their importance.
ACC308 Accounting Information Systems
Week 3 Discussion
DQ1 Journal Entries [WLO: 4] [CLOs: 3, 4, 5]
Prior to beginning work on this discussion forum, read Chapter 7 in the course textbook. What are journal entries, and why are they used? Explain why adjusting entries are needed, and describe the major types.
DQ2 Accounting Cycle [WLO: 4] [CLOs: 3, 4, 5]
Prior to beginning work on this discussion forum, read Chapter 7 in the course textbook. Describe a typical accounting cycle throughout a month. What personnel in the company are performing each function, and why? What oversight/controls should be in place for each part of the process, and why?
ACC308 Accounting Information Systems
Week 4 Discussion
DQ1 Inventory [WLO: 1] [CLO: 3]
Prior to beginning work on this discussion forum, it is recommended that you review Chapters 3 and 4. Why is it important to track inventory from the point of ordering to the point of selling? How would you do this in QuickBooks? Discuss how companies that use a vendor like Amazon to maintain and ship their inventory would account for inventory in QuickBooks.
DQ2 Banking Reconciliation and Period End [WLO: 3] [CLO: 3]
Prior to beginning work on this discussion forum, it is recommended that you review Chapter 3 and 4. Why is it important to reconcile your accounts in a timely manner? What problems may be uncovered through reconciliation? Why is it just as important to track and reconcile business credit card accounts? What other accounting actions would you do at period end in QuickBooks?
ACC308 Accounting Information Systems
Week 5 Discussion
DQ1 Employees and Payroll [WLOs: 1, 2, 3, 4] [CLOs: 3, 4]
Prior to beginning work on this discussion forum, read Chapter 9 in the course textbook. What are the advantages and disadvantages of using a company like Automatic Data Processing (ADP) to do payroll, versus completing it on your own in QuickBooks? Why would you want to track employee time against specific customer jobs? How does QuickBooks handle this functionality?
DQ2 Reports, Analysis and Interpretation [WLO: 5] [CLOs: 1, 5, 6]
Prior to beginning work on this discussion forum, read Chapter 9 in the course textbook. What is the difference between financial and managerial reporting? Discuss several of the reports available in QuickBooks. What would you look for in analyzing them, and why? How can ratio analysis be used to understand financial data and aid managerial decision-making?
