Question 1

Enron, Global Crossing and Worldcom went bankrupt due to the CEO unethical behaviors, Hsu (2006).

President G. Bush signed into law the Sarbanes-Oxley Act in July 2002. Due to the Sarbanes-Oxley Act,

many more accounting jobs became available, Prentice (2005). With few accounting graduates, major

companies had to hire non-accounting majors who had some knowledge in accounting. Avtech saw this

trend, asking this author to teach accounting. Bookkeeping and accounting became necessary when one

owned a firm. This author started and sold three different businesses and was the bookkeeper/accountant

for two of them. This author also had experiences in real estate and international deal closings. Teaching

the introduction accounting course seemed interesting. In addition, with so much computer software being

used in the daily accounting record keeping, this author, trained as a computer professor, does have an edge

over a traditional accountant or a CPA.

Computerized Financial Accounting was taught three times at Avtech South Plainfield, NJ with 10, 17 and

18 students and 4 times at Avtech Fairfield, NJ, with 1, 7, 12 and 5 students since September 2005. The

level is the same as Accounting 111 course in any college or university. Warren et al (2006) is the textbook

that most universities used. However, it is very expensive, with 1280 pages and it is used for two semesters:

Accounting 111 and Accounting 112. Porter and Norton (2004) were used as the textbook. This textbook is

very clear, starting from the basic fundamental concept of T account, debit credit, annual report, FASB,

SEC, GAAP, income statement, balance sheet, financial statement, asset, liability, owner's equity, aged trial

balance, invoice, purchase order, sales receipt, intangible asset, depreciation, accrual accounting, inventory,

FIFO, LIFO, investments in stocks and bonds, present value, future value, annuities, etc. The book will be

better if examples are given on Roth IRA, 401K conversion, and estate planning. It is a good book for

everyone who never took an accounting course. 42 hours were spent on lectures. Each lecture used the

PowerPoint slide that came with the book. Doing in-class exercises using MS Excel or a calculator, giving

plenty of real-life case studies, and interacting with students by asking them to think of examples that

related to annuities, IRA, depreciation, made the lecture more interesting. Each class began at 9 a.m., and

ended at 3:30 p.m. with 30 minute lunch break from 12:00 to 12:30 p.m. Accounting is a very boring

subject that is why most Americans dreaded taking the course. But using this approach, the lecture was

well received. Additional 30 hours were used to cover QuickBooks and PeachTree software.

(a) QuickBooks software by Intuit

QuickBooks is the number one Accounting software that 3.5 million US small businesses and 235,000

accountants used. In addition, 41,000 active QuickBooks pro-advisors are able to help small businesses as

consultants, Blundell (2007). To teach QuickBooks effectively is not an easy task. Back in 2005, the

QuickBooks 2004 version was installed. It worked fine. Ivens (2004) was chosen as the textbook. It was

not a "hands-on" textbook. After doing more research, QuickBooks for Dummies by Nelson (2006) was

used. This book is very clear, step-by-step, and easy to follow. Intuit Inc is the company that developed

QuickBooks. In addition, Intuit Inc also sells Quicken, the check-writing software and TurboTax, the do-it-

yourself income-tax software. In 2007, QuickBooks has three new versions: a. Simple Start that one can do

the free download, b. Pro Version and c. Premier Version, about $300. But if you are interested in

Accountant or Contractor module, you have to pay the add-ons which cost additional $300. There are

seven different add-ons: Professional Service, Payroll, Accountant, Contractor, Manufacturing Wholesale,

No Profit and Retail, ranging from $80 to $300 each. Nelson (2006) was only useful for QuickBooks 2004

or 2005 version. Nelson (2006) cannot be used with the QuickBooks 2007 version. Using the sample

companies, QuickBooks was not difficult to learn. Students were asked to start a business, such as Dunkin

Donuts or a restaurant, to use QuickBooks from scratch. Everyone was engaged, and the class was totally

alive. This kept their interest and the class enjoyed the "hands-on" very much. Enron, Global Crossing and Worldcom went bankrupt due to the CEO unethical behaviors, Hsu (2006).

President G. Bush signed into law the Sarbanes-Oxley Act in July 2002. Due to the Sarbanes-Oxley Act,

many more accounting jobs became available, Prentice (2005). With few accounting graduates, major

companies had to hire non-accounting majors who had some knowledge in accounting. Avtech saw this

trend, asking this author to teach accounting. Bookkeeping and accounting became necessary when one

owned a firm. This author started and sold three different businesses and was the bookkeeper/accountant

for two of them. This author also had experiences in real estate and international deal closings. Teaching

the introduction accounting course seemed interesting. In addition, with so much computer software being

used in the daily accounting record keeping, this author, trained as a computer professor, does have an edge

over a traditional accountant or a CPA.

Computerized Financial Accounting was taught three times at Avtech South Plainfield, NJ with 10, 17 and

18 students and 4 times at Avtech Fairfield, NJ, with 1, 7, 12 and 5 students since September 2005. The

level is the same as Accounting 111 course in any college or university. Warren et al (2006) is the textbook

that most universities used. However, it is very expensive, with 1280 pages and it is used for two semesters:

Accounting 111 and Accounting 112. Porter and Norton (2004) were used as the textbook. This textbook is

very clear, starting from the basic fundamental concept of T account, debit credit, annual report, FASB,

SEC, GAAP, income statement, balance sheet, financial statement, asset, liability, owner's equity, aged trial

balance, invoice, purchase order, sales receipt, intangible asset, depreciation, accrual accounting, inventory,

FIFO, LIFO, investments in stocks and bonds, present value, future value, annuities, etc. The book will be

better if examples are given on Roth IRA, 401K conversion, and estate planning. It is a good book for

everyone who never took an accounting course. 42 hours were spent on lectures. Each lecture used the

PowerPoint slide that came with the book. Doing in-class exercises using MS Excel or a calculator, giving

plenty of real-life case studies, and interacting with students by asking them to think of examples that

related to annuities, IRA, depreciation, made the lecture more interesting. Each class began at 9 a.m., and

ended at 3:30 p.m. with 30 minute lunch break from 12:00 to 12:30 p.m. Accounting is a very boring

subject that is why most Americans dreaded taking the course. But using this approach, the lecture was

well received. Additional 30 hours were used to cover QuickBooks and PeachTree software.

(a) QuickBooks software by Intuit

QuickBooks is the number one Accounting software that 3.5 million US small businesses and 235,000

accountants used. In addition, 41,000 active QuickBooks pro-advisors are able to help small businesses as

consultants, Blundell (2007). To teach QuickBooks effectively is not an easy task. Back in 2005, the

QuickBooks 2004 version was installed. It worked fine. Ivens (2004) was chosen as the textbook. It was

not a "hands-on" textbook. After doing more research, QuickBooks for Dummies by Nelson (2006) was

used. This book is very clear, step-by-step, and easy to follow. Intuit Inc is the company that developed

QuickBooks. In addition, Intuit Inc also sells Quicken, the check-writing software and TurboTax, the do-it-

yourself income-tax software. In 2007, QuickBooks has three new versions: a. Simple Start that one can do

the free download, b. Pro Version and c. Premier Version, about $300. But if you are interested in

Accountant or Contractor module, you have to pay the add-ons which cost additional $300. There are

seven different add-ons: Professional Service, Payroll, Accountant, Contractor, Manufacturing Wholesale,

No Profit and Retail, ranging from $80 to $300 each. Nelson (2006) was only useful for QuickBooks 2004

or 2005 version. Nelson (2006) cannot be used with the QuickBooks 2007 version. Using the sample

companies, QuickBooks was not difficult to learn. Students were asked to start a business, such as Dunkin

Donuts or a restaurant, to use QuickBooks from scratch. Everyone was engaged, and the class was totally

alive. This kept their interest and the class enjoyed the "hands-on" very much

1'Why pick office as a profession_____?

2. Pardon are the skills_____ desirable to work as an accountant____?

3 Reference some accounting package______

4.Mention_____ the difference between SAP Memory and ABAP Memory____

5. Pardon is Microsoft Secretarial Professional_____?

6.I'm sorry is the acronym ______for the accounting terms debit and credit_____?

7.How many categories______ of business communications are there in accounting_____?

8.Come again is the balance sheet_____?

9. Could you repeat that is TDS_____?

10.Wherever to show TDS in the balance sheet____?