SBANC Newsletter
February
8, 2005
Issue
358-2005
QUOTE
"Information
technology and business are becoming inextricably interwoven.
I don't think anybody can talk meaningfully about one without
the talking about the other."
-- Bill Gates
FEATURE
PAPER
Accounting
In The Third Millenium: An Examination Of Principles Texts
This
paper was presented by Patricia Carver and Michael R. Luthy of
Bellarmine University, Louisville, KY at the 2004 Allied Academies
International Conference in New Orleans, Louisiana on April 7-10,
2004.
The
first few years of the third millennium witnessed a number
of high-profile company and accounting firm practices that generated
a large amount of press
coverage. In the wake of the negative publicity of Enron and
other
scandals, the accounting profession faces a tremendous amount
of scrutiny. Accounting programs in higher education institutions
may have to adjust their curriculum. Besides the greater
emphasis on finance (Volpe and
Chen, 2001), ethics likely will also received expanded coverage.
With the growing introduction of technology, accounting has
moved from a once laborious, tedious, solitary activity to one that
is better
characterized as relationship-based, professional, and focused
on inventing new ways and services to attract new clients
and
retain established ones. In support of this evolution
it is important for colleges and universities to challenge
accounting graduates to become skilled in communications, marketing,
management
and sales. As a result, publishers of accounting textbooks
face the challenge of producing materials that meet the needs of
students,
instructors, and employers in today's market. This means
that instructors and students expect to remain regularly updated
with
new information at a faster pace than ever.
The
first accounting course typically taught to undergraduate students
is Principles of Financial Accounting. This course provides
students the framework for further education in accounting. While
some of the basic concepts have not changed, "assets
= liabilities + equities", and "debits = credits" the
approach taken in current textbooks are more in tune with
teaching what the numbers mean and how they relate to financial
statements and future cash flows.
This
saves a tremendous amount of time that would be spent waiting
for hard copies of texts to be received by instructors - and
a good deal of costs to the publishers. An online
study of accounting principle texts published in 2002- 03 revealed
many similarities in subject matter, while the presentation and emphasis
reflects slight to significant differences. Of course, topics
such as financial statements, accounts receivable, inventories,
etc, were presented. It is, however, important that universities
focus on relevant instruction that will add value to real-world
experiences
as students graduate with accounting degrees. Accounting firms
have argued that the content of accounting courses is not relevant
because the faculty "lacks significant, continuing
sources of information about the realitiesof the practice environment" (The
Big Eight, 1989).
Read the Entire Paper...
TIP
OF THE WEEK
Accounting Software
The small businessperson will need to carefully evaluate
which accounting program would be best for the business. The key
to evaluating these programs is understanding what needs to be
accomplished. All of the major programs have vast capabilities
to enter, track, and produce financial information. About,
Inc.
ranks and describes the following as the top five accounting programs
for small business:
1.
Simply Accounting. Full-featured accounting and payroll
package with all the features and reports any small business
needs, including
Internet and e-commerce features. This accounting software’s
data entry screens resemble their paper counterparts, and the
screen tips and drag-and-drop functionality make the program
easy to learn.
Version 9.0 Professional includes a time and billing module.
Comes multi-user ready.
2.
MYOB Plus. A double-entry accounting software system with a user-friendly
interface and over 100 financial and management
reports.
Includes a Professional Time Billing Module that is ideal for
service businesses and the Officelink feature allows direct
one-click access
to MS Word and Excel. Comes multi-user ready; just purchase
an additional workstation license for each additional user.
3.
QuickBooks. QuickBooks is another popular full-featured accounting
and payroll program designed for small businesses.
QuickBooks
is available in Basic, Online, Pro, and Premier editions;
Premier includes management and planning tools such as
building a business
plan based on finances and a financial analyzer.
4.
Peachtree Complete. The Complete version of this accounting software
program includes the ability to generate over
125 reports and features such as in-depth inventory, time
and
billing, and
job costing. It is multi-user ready and “value packs” for
three or more users are available. Peachtree accounting
software is also available in Premium and First Accounting
versions.
5.
AccountEdge. This is the MYOB small business accounting software
especially designed for the Macintosh platform.
It has all the
same features as MYOB Plus for Windows, including a user-friendly
interface, and built-in one-click access to MS Word and
Excel. The easy set-up wizard and many business templates
help the
user get set up and started quickly. Comes multi-user
ready.
These are just five of the numerous accounting programs that are
available to small business. Choosing a package that will be useful
for a particular business is more a process of understanding the
new business first and then finding a package that will accommodate
its needs with the least impact on the business of the business.
Most of the packages will provide any report that could be demanded
by the owner(s), potential investors, auditors, or loan officers.
Some of the key reports that the small business person should be
prepared to generate include: 1) a chart of accounts, 2) petty
cash register, 3) check register, 4) expense accounts, 5) inventory
accounts, 6) accounts payable, and 7) payroll.
Bamford,
C., Bruton, G. 2006. "Small Business Management." p.
178. Mason, Ohio: Thomson South-Western.
CONFERENCES
Marketing
Management Association 2005 Spring Conference
The Marketing Management Association (MMA) will
hold its 2005 Spring Conference at the Palmer House Hilton, in Chicago,
Illinois on March 16 - March 18, 2005. The Conference theme is "Exploring
New Frontiers in Marketing." There are several benefits of attending this
conference, including entering into any conference session offered by any
MBAA-affiliated organization.
For more information, visit: http://ac.stephens.edu/mma/sprconfcallforpapers05.htm
Federation
of Business Disciplines Annual Meeting
The Federation of Business Disciplines (FBD) is holding its Annual Meeting at
the Hyatt Regency in Dallas, Texas on March 1-5, 2005. FBD provides the opportunity
to test new theories, concepts and teaching techniques while also providing for
professional growth and enrichment, as well as personal interaction with colleagues.
For more information, visit: http://www.fbds.org
The
CIBER Institute
The 2005 International Applied Business Research (IBER) Conference and College
Teaching & Learning
(TLC) Conference will be held at the Marriott Resort in Puerto Vallarta, Mexico
on March 14-18, 2005. The ABR Conference provides a forum for faculty to present
their research on any business, economics, or business related topic. The TLC
Conference provides a forum for faculty and administrators to share proven and
innovative methods in teaching at the college level.
For more information, visit: http://www.ciberinstitute.org
Fifth
National Multicultural Business Conference
Come meet with other DiversityBusiness.com members and share your business ideas
for the Fifth National Multicultural Business Conference at Foxwoods Resort Casino
in Mashantucket, Connecticut on March 30- April 1, 2005. This momentous occasion
is the only national
event sponsored
by diversity businesses
to salute their corporate partners.
For more information, visit: http://www.diversitybusiness.com/conference
Northeast
Decision Sciences Institute
The 2005 Annual Meeting of the Northeast Region of the Decision Sciences Institute
will be held March 30-April 1, 2005 at the Sheraton Society Hill Hotel in Philadelphia,
Pennsylvania.
For more information, visit: http://www.towson.edu/nedsi/NEDSI%202005%20Call%20for%20Papers-%20Final.pdf
CALL
FOR PAPERS
Third
International Conference on Computing, Communication and Control
Technologies
The Third International Conference on Computing, Communication
and Control Technologies will be held at the Omni Austin Hotel
in Austin, TX on July 24-27, 2005. Topics for the conference
include: Computing and Information Systems and Technologies,
Communication Systems, Technologies and Applications, Control
Systems, Technologies and Applications, etc.
Submission Deadline: February 9, 2005
For more information, visit: http://www.iiisconfer.org/ccct05/
IPSI-2005
Massachusetts
IPSI is holding a Symposium on Challenges in the Internet and Interdisciplinary
Research at the Hotel at MIT in Cambridge on July 7-10, 2005.
Topics for the symposium include: Education, Computer science and engineering,
B2B, B2C, E-Business Management, etc.
Submission Deadline: February 20, 2005
For more information, visit: http://internetconferences.net/usa2005/index.html
IPSI-2005
Belgrade
IPSI is holding a Symposium on Challenges in the Internet and Interdisciplinary
Research at the University of Belgrade, Serbia on June 2-5, 2005.
Topics for the symposium include: Education, Computer science and
engineering, B2B, B2C, E-Business Management.
Submission Deadline: April 15, 2005
For more information, visit: http://belgrade.internetconferences.net/
ANNOUNCEMENTS
Encouraging
Message from Dr. Don B. Bradley III
Dr. Don B. Bradley III of the University of Central Arkansas would
like to encourage you to send in papers for the Family Business
sector of the upcoming Allied Academies Conference at the Hilton
Hotel in Memphis, Tennessee on April 14-16,
2005. Papers will be published in the Academy of Family Business
(AFB), which seeks theoretical, empirical and practical works in
Family Business.
For more information, visit: http://www.alliedacademies.org/memphis-call.html
2005
East Coast Student Entrepreneur Awards Program
The Rothman Institute is seeking undergraduate students in colleges, universities,
technical schools or career schools who run their own businesses in New York,
New Jersey, Connecticut and Delaware to compete in a program that recognizes
young entrepreneurs. Deadline for submission is March 11, 2005. To obtain further
information about this contest, please contact the Institute at 973-443-8842.
National
Women's Business Council
In recognition of Black History Month (February), the National Women's Business
Council has updated its fact sheet on African American Women and Entrepreneurship.
Minority women-owned businesses are a growing force in the U.S. economy. Firms
owned by women of color now represent 21 percent of all privately-held, majority-owned
firms in the U.S. and they are growing in numbers at six times the rate of all
U.S. firms.
For more information, visit: http://www.nwbc.gov/ResearchPublications/keyFacts.html
Richard
Ivey School of Business
The latest edition of the Ivey Publishing newsletter, which presents most
recent cases, is now available. Registered users on the Ivey Publishing website
can log in to view the newsletter. By logging in, your profile will be recalled,
including your specific interest areas and contact information, and, if enabled,
access to view the full text of cases.
For more information, visit: http://www.ivey.uwo.ca/Cases/cps.asp?pvar=Newsletter&interest=1,2,3,4,5,6,7,8,9
The SBANC Newsletter is provided as
a service to the members of our affiliates: Academy
of Collegiate Marketing Educators (ACME), Association for Small
Business& Entrepreneurship (ASBE), Decision Sciences
Institute (DSI), Federation of Business
Disciplines (FBD), International Council for Small Business Congress
(ICSB), Institute
for Supply Management, The International Small Business Congress
(ISBC), Marketing Management Association (MMA), Small Business
Administration
(SBA), Service Corps of Retired Executives, Small Business Institute
(SBI), Society for
Marketing Advances (SMA), United States Association for Small Business& Entrepreneurship
(USASBE), U.S. Department of Veterans Affairs and Western
Decision Sciences Institute (WDSI). If you are interested in membership
or would like
further information on one of our affiliates, please see our web
site at
http://www.sbaer.uca.edu
SBANC STAFF
Main Office Phone: (501) 450-5300
Dr. Don B. Bradley III, Executive
Director of SBANC & Professor
of Marketing
Direct Phone: (501) 450-5345, E-mail: donb@uca.edu
Esther
Mead, Co-Lead Development Director, E-mail: estherledelle@yahoo.com
Amanda Harris, Development Intern,
E-mail: abharris84@yahoo.com
Jesse Holmes, Development Intern, E-mail wags4pets@yahoo.com
Michael Flanagin, Development Intern, E-mail: whiffleball@aol.com
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