Free Accounting Software Being Developed For Non-Profits

A unique academic-community collaboration is underway in Chicago that will result in non-profit organizations and small businesses across the country being able to access accounting software for free.

Loyola University computer science professors, students and neighborhood residents will work together on building the web-based software thanks to a $1 million grant from the National Science Foundation.

"It's perhaps the largest NSF grant we've ever had," notes William Yost, Ph.D., associate vice president, research services, and dean of The Graduate School. "It's a little unusual in that it integrates computer science, the arts and sciences, and the business school. We don't often have the opportunity to build programs that broadly. It's kind of exciting."

The program is designed for those organizations that might not otherwise be able to afford a more robust accounting software system. The program will be rolled out over a three year period as follows:

 

  • Summer 2003: Students will learn the skills they need – both technical as well as business – to build the software
  • 2004: Students will build the software along with faculty assistance
  • 2005: Faculty will take over the program, including modifications and documentation

Loyola University is one of the largest Jesuit universities in the United States. Grants from foundations and government agencies help Loyola develop a new model of teaching and research that stresses knowledge exchanged between the university and community.

You may like these other stories...

School tax breaks get House support as Democrats objectRichard Rubin of Bloomberg reported that the House of Representatives on Thursday voted to expand and simplify tax breaks for education as Republicans continue to pass...
The Financial Accounting Standards Board (FASB) has relaunched its technical agenda web page, which Chairman Russell Golden said will inform visitors at a glance on where any given FASB project stands, the steps it took to...
Tax accounting to be simplified for money-market fundsThe US Securities and Exchange Commission (SEC) voted 3-2 on Wednesday for sweeping changes to institutional money-market funds, Emily Chasan, senior editor of...

Upcoming CPE Webinars

Jul 31
In this session Excel expert David Ringstrom helps beginners get up to speed in Microsoft Excel. However, even experienced Excel users will learn some new tricks, particularly when David discusses under-utilized aspects of Excel.
Aug 5
This webcast will focus on accounting and disclosure policies for various types of consolidations and business combinations.
Aug 20
In this session we'll review best practices for how to generate interest in your firm’s services.
Aug 21
Meet budgets and client expectations using project management skills geared toward the unique challenges faced by CPAs. Kristen Rampe will share how knowing the keys to structuring and executing a successful project can make the difference between success and repeated failures.