Tag Archives: accounting software

Effective Ways to Help Students Understand Accounting

Featured, Teaching Tips & Strategies, ,
resources for accounting teachers and professors
Source: FreeDigitalPhotos.net

It’s important to teach certain subjects, such as accounting, in a way that students both comprehend and retain the information. Here are some helpful tips on how to teach accounting:

  • If you mention accounting classes to students, you may see their eyes glaze over. Incorporating fun and unusual teaching methods makes the class interesting and also increases the likelihood students will actually remember the basics
  • Allow the students to separate into groups and play Monopoly. At the end of the game, have each team prepare an Income Statement and Balance Sheet. Understanding the objective at the beginning of the game can help them connect the causes and effects.
  • Incorporate numerous step-by-step examples. Over 85 percent of accounting students surveyed all agreed that this is one of the most effective ways of learning a detail oriented subject.
  • When understanding how to teach accounting, it is vitally important to remember to explain why something is being done. Students need to be told the reasons behind certain procedures for the entire process to make sense.
  • These days, many students have no concept of how a checking account operates. An accounting class is a wonderful way to teach students the tips and tricks of on-line banking, account balancing, and writing a check.

When learning how to teach accounting, Labyrinth Learning offers an excellent variety of both textbooks and online teaching tools to help both you and your students succeed. Please contact us today for assistance.

Helping Students Study for Accounting

Featured, Teaching Tips & Strategies, , ,
accounting teaching resources
Source: FreeDigitalPhotos.net

Some subjects need to be approached with well-defined study guidelines in order for the student to adequately understand and retain the information. While learning styles do vary, the below structured approach has consistently provided a large majority of students studying accounting with optimal results in both material comprehension and retention.

  • Have them read all assigned material before each class. This way they already have a general overview of what will be taught that particular day. Be responsive to their questions.
  • Remind students to come to each lecture prepared with the required tools, including calculators, notebooks, textbooks, laptop, or tablet. Instruct them to take detailed notes on any topic you have previously focused on, especially those subjects you know aren’t discussed in length in the textbook. Make sure you’ve provided them with a safe environment to ask questions — this is important in a student’s learning experience.
  • Talk to the students about reviewing their notes as soon as possible. When studying accounting, comprehension is a major concern, so this tip allows them to fill in any blanks while your lecture is still fresh in their mind.
  • In addition to reviewing notes, online videos, and PowerPoint presentations — have students rework some of the more difficult problems. If the textbook offers online sample quizzes, let them take advantage of this study aid.

Please contact us at Labyrinth Learning for additional educational assistance.

Easy Ways for Students to Learn Basic Accounting on Microsoft Excel

Featured, Teaching Tips & Strategies, , ,
accounting teaching resources
Teach students to use Microsoft Excel for budgeting and more.
Source: FreeDigitalPhotos.net

Microsoft Office Excel includes easy to use spreadsheet functionality which can simplify basic accounting tasks. Plus it supports additional add-ons when more sophisticated programs are required. Date importation from outside financial sources and even additional competing software platforms can all be accomplished when handling basic accounting with Microsoft Excel. The program offers a lot in terms of accounting abilities, making it a fantastic teaching program for students beginning to learn the accounting basics.

  • Budgeting and statements: Microsoft Office Excel comes complete with a wide variety of templates for creating basic accounting statements, including profit and loss, cash flow, and budget. More complex templates can be downloaded from the Office website and adding on specialized templates from other software vendors is a simple and easy task.
  • Spreadsheets: When performing basic accounting with Microsoft Excel, expensive accounting calculators are no longer required to figure out complex formulas. Excel spreadsheets are designed to handle both in-line and summation calculations.
  • External data: Microsoft Excel allows external data from numerous sources to be uploaded. This data can also be stored in a variety of different file formats without requiring additional data entry.
  • Integration: Another major advantage of introducing basic accounting with Microsoft Excel is that it provides easy integration with many other popular accounting applications. Many of these software applications include wizards, which work with both Excel and a separate accounting program.

For more information on how teaching basic accounting with Microsoft Office Excel can benefit your students, please contact us at Labyrinth Learning today.

How Our Accounting Basics Solution Facilitates Learning

News & Events, Teaching Tips & Strategies, , , , ,
accounting solutions
Accounting Basics from Labyrinth Learning

When teaching accounting courses, financial information must be conveyed in a clear and concise manner. Here at Labyrinth Learning, our Accounting Basics solution offers an easily understood introduction for students who wish to gain general accounting knowledge but may not be working toward an accounting degree.

Often students want accounting basics to utilize as part of their job, for personal finances or to be able to understand the importance of accounting  while taking a course like QuickBooks.  While things like cash flow and payroll accounting are the responsibility of the accounting department, it is valuable to all to be able to read a ledger sheet, track business performance, and understand the basics of profit and loss.

Labyrinth Learning provides this new basic accounting solution.  It begins with a comprehensive overview. This particular program introduces a fictional business and the accounting cycle they follow. Each new topic also includes detailed explanations so each student understands how the process works.

This is solution provides practical and easy to understand accounting basics, along with practice sets at the end of each chapter, an ongoing end of chapter problem which builds off the previous obstacle, and a scenario at the end of the course allowing students to put their recently gained knowledge to use.

For more information about our Accounting Basics textbook along with our many other interactive teaching tools, please contact us at Labyrinth Learning today.

Accounting

Learn Why Payroll Accounting is Important

Teaching Tips & Strategies, , ,

Accounting Payroll accounting is a critical foundation of any business. This is especially true now that most companies are required to provide health benefits for their employees. Having accurate and up-to-date books ensure that a company is complying with federal regulations, and it will improve economic transparency for owners, management and employees.

Learning solutions, like Payroll Accounting, provide a sensible, streamlined and hands-on approach to appeal to a broad spectrum of students, including those that do not have previous accounting experience. The course is divided into six sections, all of which cover the basis of a thorough payroll accounting system, including:

  • Salaries
  • Wages
  • Overtime pay
  • Commissions and bonuses to employees
  • Payroll taxes and costs
  • Employer paid benefits

This course is ideal for small business owners or employees who are ready to take their accounting and bookkeeping knowledge to the next level, especially if they are expanding, adding new employees to the books, or growing their benefit and retirement programs.

Labyrinth Learning offers Payroll Accounting: A Practical Real World Approach, for those who teach accounting. We are also hosting a webinar, led by the book’s author, Eric Weinstein.

Contact Labyrinth Learning to find out more about Payroll Accounting and other interactive teaching tools.

Image Source: freedigitalphotos