Fox Valley Technical College

1825 N. Bluemound Drive, Appleton, WI 54912-2277

DACUM
Research Chart for Accounting November 1, 2007

ACCOUNTING
GENERAL DUTIES
A

TASKS
1. Gather data. 2. Organize data. 3. Validate data. 4. Record data. 5. Review data output.

PROCESS TRANSACTIONS

COMPILE INFORMATION

1. Identify user needs (Internal/ Exerternal).

2. Determine appropriate report/output.

3. Produce report/output.

4. Validate report.

5. Verify report met requester needs.

ANALYZE INFORMATION

1. Identify trends and exceptions.

2. Research exceptions.

3. Determine root causes.

4. Develop potential courses of action.

FACILITATE THE COMMUNICATION D OF INFORMATION & OUTSIDE THE ORGANIZATION

1. Determine appropriate communication tool.

2. Present potential courses of action.

3. Make recommendations.

4. Answer user questions.

JOB SPECIFIC TASKS

E PAYROLL 1. Classify employees (e.g. F/T, P/T, Union, Nonunion) 2. Calculate fringe benefits and deductions. 3. Apply general payroll laws. 4. Prepare governmental reports (federal, state). 5. Explain payroll forms to employees.

ACCOUNTS RECEIVABLE

1. Apply payment to accounts.

2. Create invoices.

3. Analyze aging receivables.

4. Determine when to charge sales tax.

5. Reconcile subsidiary ledger to general ledger. 5. Reconcile subsidiary ledger to general ledger.

ACCOUNTS PAYABLE

1. Analyze vendor invoices (e.g. use tax).

2. Match invoices to purchase orders & receiving documents. 2. Calculate job costs.

3. Code invoices to correct account.

4. Maintain vendor files.

COST ACCOUNTING

1. Calculate inventory value.

3. Apply overhead costs.

4. Differentiate between job cost and process costs.

5. Prepare budgets.

FINANCIAL ACCOUNTING

1. Prepare financial statements.

2. Prepare bank reconciliations.

3. Manage chart of accounts.

4. Perform month end close.

5. Comply with S.O.X. (Internal controls).

TAX ACCOUNTING

1. Calculate tax basis depreciation.

2. Process individual tax returns.

3. Prepare corporate tax returns.

4. Prepare sales and use tax.

5. Convert from accrual to cash basis.

GENERAL DUTIES
6. Make corrections. 7. Post data.

TASKS

6. Prepare general ledger entries.

7. Calculate payroll (manually and computerized).

6. Prepare general ledger entries.

7. Maintain customer file.

6. Prepare general ledger entries.

7. Process payment.

8. Prepare 1099 and W9.

6. Calculate key performance measures.

7. Maintain fixed asset record.

8. Calculate depreciation.

6. Apply current tax law.

7. Differentiate among types of business entities.

DACUM Panel of Experts

Teresa Foth , Accountant Pace Corporation, Appleton, WI tfoth@pacecorporation.com Eran C. Javoroski , Tax Preparer J. A. Huth & Associates, Black Creek, WI javorosk8076@fvtc.edu Lisa Johnson , Branch Manager Robert Half International, Appleton, WI Lisa.Johnson@RHI.com Bob Kreider, Instructor Fox Valley Technical College, Appleton, WI bob.kreider@gmail.com Joe Matzek , Associate Accountant IV Schenck Business Solutions, Appleton, WI joe.matzek@schencksolutions.com Barb McGinnis , Accounts Payable Schenck Business Solutions, Appleton, WI barbara.mcginnis@schencksolutions.com John Schafer , Shareholder Schenck Business Solutions, Sheboygan, WI John.Schafer@schencksolutions.com Dave Shaw , CPA Self-employed, Fond du Lac, WI pshawdav@dotnet.com Jane Sorley , Internal Auditor Stockbridge-Munsee Tribal Gaming Commission, Shawano, WI jane.sorley@mohican-nsn.gov Amy Van Straten , Director - Federal Program Operations Fox Valley Technical College, Appleton, WI vanstrat@fvtc.edu

DACUM Facilitators Ginny Sattler, Associate Dean, Business, Health and Services, FVTC Marge Jeffers, Director, Instructional Development and Delivery, FVTC

Software Skills
Managing time Communication Prioritizing Problem solving Flexibility Team player (leaderpart of time) Adaptability to change Filing/answering phone Professional demeanor E-mail skills Showing that they care about job and clients Ethical behavior Maintain files

Tools
MS Excel MS Word Quick Books MS Access MS PowerPoint Great Plains Peachtree Industry Specific OTJ trainingTimberline 10 Key calculator skills Keyboarding Internet Research Government Publications Tax Prep software Utilize accounting software packages

Future Trends
Clients use softwarePeachtree, Quick Books clean up resulting data. Teach clients to use programs Paperless office--PDF Clients use MS Access and MS Excel 7 out of 10 employers use QuickBooks 90% of Small Businesses use QuickBooks Fewer peoplemore things done using tools properly. Ability to pick up new softwarelearnadapt-change Need good solid basis in accounting Communicatione-mail, scan, less dropping off documents Strong interpersonal skillsinternal and external Small companymore general, large company more specialized Communication skills Adapt to new circumstances and duties Be able to explain to company works accounting principles Multi-tasking skills

Titles
Associate Accounting I Accounting Assistant Bookkeeper Accounting Clerk Accountant PayrollAccounts Payable Accounts Payable Clerk Tax Preparer HR Billing Cost Accountant Auditing Accounting Supervisor