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Accounting and software topics covered

Perdisco publishes two computerized practice set titles for Peachtree at two different levels of academic difficulty:

• "Electronics Specialist" (the longer and more difficult title)
• "Corporate Gift Baskets" (a less challenging title).

A general overview of the two titles is provided on our catalog page. The purpose of this page is to provide more detail for instructors seeking to understand which title may best suit their teaching. Instructors are encouraged to order a free review copy of their selected title.

Overview

Both titles require students to use the Peachtree software to complete a one month accounting cycle. Both titles are substancial activities that are expected to take many study hours to complete over multiple days or weeks. Students can bookmark their current position in the practice set and return to that same place the next time they are ready.

The following table sets out key differences between the titles:

	Electronics Specialist	Corporate Gift Baskets
Overview
Context	Student is the accountant in a retail business that sells consumer electronics	Student is the owner of a one person business selling gift baskets
Pedagogical focus	'Assessment' More words to read, more complexity to manage and less detailed feedback	'Learning' Lots of help with feedback that precisely identifies errors made
Degree of academic difficulty	More demanding	Significantly less demanding
Time required to complete the practice set	Up to 20 hours	Up to 7.5 hours
Total points available	419 points	136 points
Likely grade distribution (Depends on overall academic level of the class)	Lower average with a variance of points in a typical bell curve	Skewed towards a higher average with 100% common
Free access to Peachtree Learning Center	Included	Included
Instructor and Student companions	Included	Included
Available for Peachtree Complete versions	2009, 2011	2011
Formats available More on formats & pricing	Paper, Excel, Online	Online

The accounting cycle

The exact details of the accounting cycle implemented by each title vary. The following dot points and table are provided to help instructors determine which title best reflects the accounting topics that they teach in class. In general, during the process of completing their one month accounting cycle, students will:

• Create and setup company data files in Peachtree (Electronics title only)
• Apply U.S. Generally Accepted Accounting Principles (US GAAP)
• Work on a business that is set up as a corporation (Electronics title only)
• Use the perpetual inventory system and the weighted average method
• Include sales tax when recording sales transactions
• Record adjusting entries (Electronics title only)
• Perform a bank reconciliation (Electronics title only)
• Generate aged receivables and aged payables reports (Electronics title only)
• Prepare financial statements
• Become familiar with the screens and functionality of Peachtree set out below.

Please contact us if you would prefer an alternate approach to the accounting cycle (for example, a different inventory system or the exclusion of tax).

The following table compares the two practice set titles to explain, at a glance, what accounting topics each contains and how they differ:

	Electronics Specialist	Corporate Gift Baskets
Coverage of accounting processes and concepts
Business structure	Private non-listed corporation	Sole proprietorship
Company file set up in Peachtree	Set up independently by student	Downloadable company file, so no set up is required
Volume of transactions in Peachtree	Substantial number required	75% less than in Electronics Specialist
Inventory system	Perpetual inventory system and weighted average method	Perpetual inventory system and weighted average method
Sales tax	Included when recording sales transactions	Included when recording sales transactions
Purchase orders and sales orders	Included	Not included
Purchase returns and sales returns	Included	Not included
Payroll transactions	Included	Not included
Bank deposit tickets	Included	Not included
Adjusting entries	Included	Not included
Bank reconciliation	Included	Not included
Unpresented checks or deposits in transit	Included	Not included
Bank service charges, interested received	Included	Not included
Financial reporting	Included	Simplified
Aged receivables and aged payables	Included	Not included

Peachtree software functionality being tested

Peachtree offers different navigation paths to reach its functions. Both practice set titles focus on the icon-based Navigation Centers of Sage Peachtree Complete Accounting and ask students to interact with those icons to achieve the required tasks. A screen shot of each Navigation Center (taken from the 2011 version of the software) is shown below to illustrate the concept along with the icons and tasks being tested, where:

= Students use, and are tested on, the functionality of this icon
= Students navigate via an alternate pathway for the same functionality
= Not included in this practice set title

	Corporate Gift Baskets
	Electronics Specialist
Navigation Center	Icon/Task
Customers & Sales	Customers
	Jobs
	Sales Taxes
	Time and Expense Tickets
	Quotes
	Sales Orders
	Sales Invoices
	Finance Charges
	Receive Money
	Bank Deposits
	Customer Statements
	Credits and Returns
	Reports
Vendors & Purchases	Vendors
	Write Checks
	1099s
	Time and Expense Tickets
	Purchase Orders
	Enter Bills
	Pay Bills
	Electronic Bill Pay
	Void Checks
	Credit and Returns
	Reports
Inventory & Services	Inventory Items
	Company Services
	Assemblies
	Prices
	Purchase Orders
	Receive Inventory
	Ship Packages
	Track Packages
	Inventory Count
	Inventory Adjustments
	Reports
Employees & Payroll	Employees
	Users
	1099s
	Payroll Setup
	Time and Expense Tickets
	Pay Employees
	Direct Deposit
	Print Payroll Checks
	Reports
	Forms
	Void Checks
Banking	Write Checks
	Account Register
	Analysis Tools
	Chart of Accounts
	Receive Money
	Bank Deposits
	Enter Bills
	Pay Bills
	Electronic Bill Pay
	Void Checks
	Reconcile Accounts
	General Journal Entry
	Reports
Company	Setup Guide
	Users
	Chart of Accounts
	Analysis Tools
	Data Maintenance
	Check for Peachtree Updates
	Year End Wizard
	General Journal Entry
	Synchronize Peachtree Data
	Reports

Adopt one or both titles

The two practice set titles have been designed so that they can be used together or independently. If you feel both titles may be suitable, then it is possible to use both for the same cohort of students with the Corporate Gift Baskets practice set being used as an introductory learning activity and the Electronics Specialist practice set as a more rigorous assessment activity.

Contact us to find out more or to order a review copy.