Homework Chapter 7

I warned everyone before class that this was going to be long and drawn out. Posting is not a great way to keep people awake (right Jenna). It's tedious and time consuming and thank heaven's we have computer accounting software to take most of the pain out of processing transactions.

We went through the first 3 homework problems assigned. I encourged everyone to do the optional homework problems as it is good for your soul. In fact, I could see some of the students get a gleam in their eye when I suggested doing the homework on Friday night if they wanted to impress their date. What would be more fun then to work on accounting problems on a Friday night. Or better yet, for your Halloween party on Friday dress up as an accountant and consider eating at least two of every candy as debits never go without credits. (If you smiled/groaned at that poor attempt at humor you have offically joined the geeky side).

Homework assigned: Read Chapter 8

Chapter 7

Good class tonight. More like a show and tell. Demo'd Microsoft Dynamics Great Plains as an introduction to the computer accounting section of the chapter. Good discussion about what to look for in a system, cost/benefit, time and cost needed, etc. This is what I do in real life. My real job is implementing, supporting, and consulting with Microsoft Dynamics.

Also showed spreadsheets. Showed a spreadsheet I use to evaluate potential rental properties. Input data and several worksheets are updated with the results telling me if the project is worth investing in.

Talked about special journals specifically in how to do them for the monopoly game. This is a big part of the project as you enter all transactions from entry 27 on.

Oh, gave back the test as well. Some good grades, some ok grades. Average on the test was 81%, Medium 86%.

Half way done the class. Showed everyone how to calculate their own grades. If it's not to clear, email me and I'll send you your grade.

Homework assigned:

•P7-26A
•P7-28A
•P7-34B
•Optional practice not going over in class
–P7-29A
–P7-31B
–P7-33B

Test Day

Gave/giving the second test of the semester tonight. That test along with all groups should be done the first 26 turns in Monopoly means we are about half way through the semester. Yeah!!! Gone quickly so far.

The remaining chapters are very fun for an accountant. By now you should be feeling a little more geeky and a lot less fun. That's the natural process as you start getting immersed in the accounting field. Don't worry, there's lots of people out there that will laugh at your new form of humor and applaud your mechanical pencil/calculator/debit and credit skills.

Must read financial book: Your money or your life by Joe Dominguez and Vicki Robin
Wish I had read this book sooner. Puts into perspective what I'd like my personal financial world to be like.

http://www.yourmoneyoryourlife.org/

Must read for those with small children: Read along handbook by Jim Trelease

http://www.trelease-on-reading.com/default.html

Homework: Read chapter 7

Monopoly class

Had a pretty casual class last night as all three groups played monopoly in the hopes of finishing off the first 26 turns in the project. Sounds like that was almost accomplished for each group.

I watched BYU get blown out with ESPN's gamecast on the overhead. Too bad. Boston came back from 7 runs down. Nice comeback. Don't really care now. The Blue Jays and Dodgers are out.

Turn 27 in the Monopoly project goes into a new way to journalize which we will learn in chapter 7. The special journals are more like real accounting as it deals with submodules that flow into the GL.

Test is on Tuesday and I'm pretty sure it's the easiest test I've ever made. Good luck.

Chapter 6

I like chapter 6. One of the nicest chapters to teach as you go through FIFO, LIFO, Average costing. Got to use some props. Wonder if anyone saw how dirty the carrots were I was using.

Got through chapter 6 lecture.

Assigned homework:

•E6-18
•E6-19
•P6-32A
•P6-34B
•P6-35B

We will go over chapter 6 homework next class and then I'll go over the test which happens to be next Tuesday. On Thrusday I will answer any questions about the test then will give remaining time to get into groups and start the Monopoly project. Hopefully this will give enough time to finish the first 26 turns.

Markets are up. Finally an halt in the dreadful slide on Wall St.

Finished Chapter 5

We finished chapter 5 and homework. Not too exciting of a chapter but we'll make up for it in chapter 6. Hardest thing in chapter 5 is getting the journal entries for selling inventory along with discounts. Also included are returns on sales.

Will have a quiz tonight. Make sure you did homework for chapter 5.

Homework chapter 5

Forgot to post homework. Here it is.

•P5-31A
•P5-33A
•P5-38B
•P5-39B

Monopoly project

Only lasted a hour last night as I was feeling dreadfully sick. My penmanship was better as I was moving pretty slow. Still feeling like my head will explode but have a little more energy today.

We went over the first part of chapter 5 which is on merchandising businesses. Assigned homework and we will finish off the chapter on Tuesday and hopefully get to some homework.

Here is the outline for the monopoly project as some of you don't have a way to open or print the documents I sent out by email. Click on the documents below to see a clearer view of the doc. This will open the doc so you can read it.

Homework and bailout

Finished chapter 4 homework after talking about the bailout. Here is a link to more info on the bailout to financial market - http://www.mydollarplan.com/

Homework: Read chapter 5