FIN2040 Accounting Software

Intermediate · 1 credit · BIT - Business, Admin, Finance and IT

Description: Students learn and demonstrate use of an accounting software package for personal or business use. They will complete transactions and procedures typically used by an individual or a business.
Prerequisite: FIN1030: Accounting Cycle 2
Parameters: Access to appropriate computer equipment, business or personal accounting software and support materials.
Supporting courses: FIN2030: Retail Accounting 2

Outcomes The student will:

1 demonstrate use of designated small business or personal accounting software
- 1.1 identify procedures required to use the accounting software package
- 1.2 prepare a chart of accounts according to generally accepted accounting principles (GAAP)
- 1.3 analyze transactions and enter data
- 1.4 prepare the accounts for the next reporting period
- 1.5 generate reports; e.g., trial balance, balance sheet
- 1.6 identify possible errors that can occur during entry
- 1.7 describe the use of the computer as a tool in processing data related to the accounting cycle
- 1.8 compare and contrast manual and computerized accounting procedures
- 1.9 describe why it is necessary to prepare a computer data backup system
2 apply consistent and appropriate work station routines
- 2.1 demonstrate good health and safety; e.g., posture, positioning of hardware and furniture
- 2.2 employ practices that security for hardware, software, supplies and personal work
3 demonstrate basic competencies
- 3.1 demonstrate fundamental skills to:
  - 3.1.1 communicate
  - 3.1.2 manage information
  - 3.1.3 use numbers
  - 3.1.4 think and solve problems
- 3.2 demonstrate personal management skills to:
  - 3.2.1 demonstrate positive attitudes and behaviours
  - 3.2.2 be responsible
  - 3.2.3 be adaptable
  - 3.2.4 learn continuously
  - 3.2.5 work safely
- 3.3 demonstrate teamwork skills to:
  - 3.3.1 work with others
  - 3.3.2 participate in projects and tasks
4 identify possible life roles related to the skills and content of this cluster
- 4.1 recognize and then analyze the opportunities and barriers in the immediate environment
- 4.2 identify potential resources to minimize barriers and maximize opportunities