The role of introductory accounting classes is to introduce the vocabulary, methodology, and application of an accounting system to students who have little or no background in business. This paper presents a hands-on tool for providing review and reinforcement of the accounting cycle. Based loosely on the Hasbro Game of LifeTM, the tool provides an opportunity to practice transaction analysis and review the accounting cycle. At the same time, the game can be used to introduce students to the Annual Statement Studies online resource. This resource can be used to build a pro forma balance sheet with which to start the game. Finally the game can be used to introduce and encourage cooperative learning strategies.
Type of Material:
Open (Access) Journal-Article
Recommended Uses:
In class, team, homework
Technical Requirements:
Microsoft Word
Microsoft Excel
Google Docs and Sheets could work
Identify Major Learning Goals:
Develop a practical understanding of accounting transactions.
Apply transactions to Statement of Cash Flows Categories.
Cooperate with classmates to complete the game.
Target Student Population:
Entry-level accounting classes
Upper-level accounting classes
Prerequisite Knowledge or Skills:
Introductory financial accounting concepts
Statement of Cash Flows
Content Quality
Rating:
Strengths:
This game is well-researched, and students could learn a lot in a short time.
The competitiveness and/or collaboration make this an interactive portion of a class that introduces an element of fun.
Published article (2011) about using the game is still relevant.
Concerns:
References to the Annual Studies Online database, while it still exists, is not cost-free.
An insufficient number of cards for use by instructors was provided; more transactions would make this more instructor-ready.
The article stated that materials were available from the author, however no email address is readily available in the article or at the author’s institution.
This research paper may be daunting for instructors to follow to make it to the Appendixes.
The research was conducted in 2011, but the concepts remain relevant.
It is flexible but is restricted by the prerequisite knowledge of introductory financial accounting and knowledge of the Statement of Cash Flows.
Potential Effectiveness as a Teaching Tool
Rating:
Strengths:
Learning objectives and prerequisites are clearly identified and concepts are reinforced progressively.
The authors identify it as being used as a review for the midterm exam, and this might work well, based on the content included in the midterm.
A literature review is provided as well as instructions for use, hints of grading, select supplies and worksheets, and suggestions for modification.
Good point about having the students on a team review each transaction to reinforce learning.
Concerns:
The individual learning outcomes would be hard to measure, although the team’s work could be measured.
This format would not be especially efficient – class time to have students play and the time for grading.
The grading could become cumbersome unless the instructor is well-organized in advance. The author provides some suggestions, not all of which would be feasible.
Ease of Use for Both Students and Faculty
Rating:
Strengths:
The game itself is engaging and evokes cooperative learning.
The game is highly interactive and requires groups of students for it to work correctly.
The intent of using a game/simulation is a great interactive tool that will involve students more deeply in their learning.
Concerns:
The game is not easy to use in a paper format and would require significant teacher prep for it to work well.
The instructions are a bit unclear and may be confusing for students.
The visual appeal is moderate because it is Microsoft Word-based images.
The design quality is moderate for the same reason.
This design does not meet accessibility requirements if presented in paper form.
While the Industry Information (appendix D) is good exposure, this aspect creates additional cost and time for preparation and use.
Creative Commons:
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