This new version and 1st edition of PKL Algorithmic Work4Me has been developed for the first year accounting and business student. It is an excellent tool for familiarizing accounting students with accounting procedures, starting with basic debit and credit journal entries and progressing through the more complex journal entries associated with adjusting, closing, sales, purchases, and bad debts transactions.
What does algorithmic entail? After the first two problems, each student will start with different balances in beginning ledger and subsidiary accounts. Many of the transactions will require unique values to be journalized. The evaluation questions at the end of each problem will require answers unique to the student’s work and the student’s beginning balances and transactions.
The first demonstration problem introduces the software and basic entries illustrating the concept of double-entry bookkeeping. The balance of the computerized exercises provide a hands-on review of daily entries, maintaining subsidiary ledgers for customers and vendors, adjusting entries, closing entries, and simple analysis of financial statements. All of the clerical functions are handled by the computer. When answering ten to fifteen evaluation questions, the student must use their printed documents to answer the questions. The questions include analysis of the accuracy of the student’s work, and analysis of the effects of the business transactions on the financial condition of the business. The student's exam many be taken a preset number of times and is auto-graded and recorded in the instructor's grade book.
Students can and should be encouraged to work together, but obviously the examinations must be answered independently of any other individual student.
An additional feature of Algorithmic Work4Me is Accounting Coach, which is under Support on the far right of the Algorithmic Work4Me main menu. Accounting Coach provides users an opportunity to review accounting topics, such as journalizing, posting, adjusting and closing entries, purchases, sales, inventory valuation, bad debts expense, depreciation expense, notes, and cash control. It too is algorithmic, so students can review the topics as many times as necessary to become competent in those topics.