Technology for Accounting: Using Spreadsheets and Accounting

School: Troy University, Troy - Course: SCI 2204 - Subject: Accounting

1.05 Technology for Accounting Total Points: 65 Part 1 Please respond yes or no to each of the following questions.These questions will be used by your instructor as a guide to move forward. 1. Look at the list of computer programs on your school computer.To do this, you can click on Start and then All Programs, and then Microsoft Office, and the Office programs will be listed.Do you see Microsoft Office Excel?yesIf you are using a Chromebook, in your drive click on New. Do you see Google Sheets?No 2. Do you have experience using a spreadsheet program?If your answer was NO, do not be concerned because you will be provided with spreadsheets that are already set up for use in completing lesson tasks.No 3. A link to a video about using a spreadsheet was on the last page of this lesson.Did you view that video?YesIf not, go back and watch it now. 4. After watching the video, list two advantages of using a spreadsheet over manual recording. Spread sheets are free, and Spreadsheets are customizable 5. Did you find Calculator on your computer?yes 6. Did you understand most of the lesson content presented in Unit 1?Yes If your answer was NO, briefly state what you did not understand. Part 2 After reading through the reviews onFreshBooksandQuickBooks, write a brief summary describing each accounting software package. Include information about the types of businesses that the software is geared toward, the level of tech support provided, and the relative cost. (You don't need to give an exact price, just the relative cost when compared to other packages.) © ACCESS Virtual Learning 2018 Part 3 Following are some vocabulary words introduced in Unit 1 and their definitions.Match the terms with their definitions. A.AccountingB.AssetsC.ExpensesD.Fiscal periodE.GAAP F.Liabilities G.Owner's equity H.Revenue I.Spreadsheet 1.EThe period of time covered by a financial report. 2.IMoney earned by delivering goods or services to customers. 3.JElectronic document in which data is arranged in the rows and columns of a grid and can be manipulated and used in calculations. 4.bThe language of business. 5.gAmounts owed to creditors; the claims of creditors to the assets of the business. 6.fRules, standards and procedures for reporting financial information. 7.cCash, land, equipment, buildings, and other properties of value owned by a business. 8.hOwner's claims to the assets of the business. 9.dWhat you pay to generate revenue - or - the costs incurred in running a business.