Program Instructions

Microsoft Excel
Please follow the instructions for each of the exercise to complete this section.
1. Visa Card Analysis
i.
Refer to the bank statement Prime IT Inc. Visa Card Statements June 25/10 May
25/11, create a visa card analysis for each of the month using Excel.
2. Bank Reconciliation
i.
Refer to the bank statement Prime IT Inc. Bank Reconciliation June 2011, perform a
bank reconciliation for June using Excel.
ii.
Refer to the bank statement Prime IT Inc. Bank Reconciliation July 2011, perform a
bank reconciliation for July using Excel.
3. Preparing Financial Statements
i.
Refer to Prime IT Inc. Sales Day Book January 2012, perform a sales analysis for the
month.
ii.
Refer to Prime IT Inc. Purchase Day Book January 2012, perform a purchase analysis
for the month.
iii.
Refer to Prime IT Inc. Bank and Cash Book January 2012, perform a bank and cash
analysis for the month.
iv.
Using the data generated, create an income statement for the month of January 2012.
v.
Refer to Prime IT Inc. December 2011, create a set of T-accounts with the data
generated in the month of January 2012.
vi.
Based on the T-accounts, create a new balance sheet for the month ended, January 31,
2012.

QuickBooks Premier
Please follow the QuickBooks Instructions to complete this section.
1. Case One (I.T. Consulting) Olympus I.T. Consulting Inc.
i.
Set up the company with their basic information: type of company, address, etc.
ii.
Using the provided balance sheet, and balances of accounts receivable, and accounts
payable, set up the chart of accounts, customer and vendor balances.
iii.
Enter the purchase invoices and sales invoices.
iv.
Using the receipts, receive customer payments and record deposits.
v.
Using the cheques made by the company, make payments to vendors.
vi.
Using the bank statement, perform bank reconciliation on Quickbooks.
vii.
Using the visa card statement, create a visa card analysis on Excel.

2. Case Two (Manufacturing) Regal Incorporated

i.
Set up the company with their basic information.
ii.
Set up the chart of accounts, customer and vendor balances.
iii.
Using the provided inventory list, set up the inventory of the company.
iv.
Enter the purchase invoices and sales invoices.
v.
Receive customer payments and record deposits.
vi.
Make payments to vendors.
vii.
Using the payroll information, set up the employees and their salaries.
viii.
Perform bank reconciliation.
ix.
Create and post adjusting entries.

3. Case Three (Retail) Maria Beauty Supplies Inc.

i.
Set up the company with their basic information.
ii.
Set up the chart of accounts, customer and vendor balances.
iii.
Set up the companys inventory.
iv.
Enter purchase invoices.
v.
Enter sales invoices.
vi.
Receive customer payments and record deposits.
vii.
Make payments to vendors.
viii.
Perform payroll.
ix.
Perform bank reconciliation.
x.
Create visa card analysis.
xi.
Enter credit notes.
xii.
Create and post adjusting entries.

Sage 50 Pro
Please follow the Sage Instructions and repeat the three cases from QuickBooks to complete this
section.

CaseWare
Please follow the CaseWare Instructions to complete this section.
1. Case One Regal Incorporated
i.
Using the provided trial balance, create a trial balance on CaseWare.
2. Case Two Managed Rite Construction
i.
Using the provided trial balance, create a trial balance on CaseWare.
ii.
Create and post adjusting entries.

Intuit ProFile Personal Tax (T1)

Please follow the ProFile T1 Instructions and create a personal tax return for each of the cases:
1.
2.
3.
4.
5.
6.

Basic Return
Business Income
HBP and LLP Withdrawal
HST Return
Pension Income
Foreign Income

Intuit ProFile Corporate Tax (T2)

Please follow the ProFile T2 Instructions and create a corporate tax return for each of the cases:
1. Brampton Car Inc.
2. Pallet Solutions
3. Reenpat Ltd.

Advaced Excel Functions

In this section, a Microsoft Excel work file will be provided. Please follow the Advanced Excel
Instruction to complete this section.

Budgeting
Please complete the following budgeting exercise. For several exercises, you may use the provided
Microsoft Excel Template to assist you.
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.

Budgeting Exercise 2 - Estimating Income and Expenditure

Budgeting Exercise 3 - Working Out the Break-Even Point (template provided)
Budgeting Exercise 4 - Gross Profit Scenarios
Budgeting Exercise 5 - Estimating Charging Fees (template provided)
Budgeting Exercise 6 - Event Budget (template provided)
Budgeting Exercise 7 - Create a Simple Program Budget
Budgeting Exercise 8 - Employment Budgets (template provided)
Budgeting Exercise 9 - Cash flow Budgeting (template provided)
Budgeting Exercise 10 - Evaluating Capital Expenditure Proposals (template provided)
Budgeting Exercise 11 - Profit by Cost Centre (template provided)
Budgeting Exercise 13 - Create a Simple Financial Model (template provided)
Budgeting Exercise 15 - Monitoring Budget Performance (template provided)