The Systems Understanding Aid contains a list of transactions, journals, the general ledger and an assortment of blank business documents.  The goal is to prepare the documents following systems flowcharts, file those documents and then record the transactions.  The students also must complete the month and year end adjusting entries, complete an adjusted trial balance, prepare financial statements and close the books.

Some of the students have more than 30 hours invested in these projects.  They often work in teams or small groups. About 20% of the class  spent Tuesday afternoon working together to finish their work. 

“The group setting helps because there is a lot to do, and students find their peers a good source of information and confirmation that they are completing the parts in an appropriate manner,” said Susan Hughes, an associate professor at the School of Business Administration.

Megan Behlendorf and Alissa Sheftic work as TAs for the class. They hosted lab sessions at least twice a week since the class started and have been very busy helping out their fellow student customers.

“The learning objective is to obtain a better understanding of accounting and reporting in a small business. The accounting faculty believes the project helps students build a strong foundation in the basic accounting skills. The students can then build on their knowledge as more advanced concepts are introduced. Some of the students even admit they enjoyed the project,” Hughes said.