This module is the third tutorial in the series of Interactive Worksheets from the Book-keeping and Accounting Interactive Tutor (BAIT) that teaches introductory financial accounting concepts. It focuses on dual aspect and double entry accounting, relating these terms to capital and revenue expenditures and receipts. Debits and credits and appropriate account titles are emphasized.
This worksheet was designed to assist users in the understanding of debits and credits with respect to:
1. The difference between capital and revenue expenditures
2. The double-entry for assets and liabilities
3. The double-entry for expenses and revenues
Target Student Population:
High school or lower-level undergraduate students studying principles of financial accounting. The module is designed for use in Great Brittain.
Prerequisite Knowledge or Skills:
Basic introductory knowledge of the business entity concept, the accounting equation, rules of debit and credit, and capital vs revenue expenditures and receipts is necessary.
Type of Material:
Tutorial drill and practice, demonstration.
Fill in the blank and multiple choice.
The module would probably best be used individually outside of the classroom soon after the concepts are introduced. It could also be used in class with the instructor leading the progression through the tutorial and having students respond individually or in teams. If students have a lab class, it would also be approriate for use in that venue.
Evaluation and Observation
Double Entry for Assets and Liabilities, Revenues and Expenses is a very simple approach to reinforcing concepts. Although the tutorial builds on prior tutorials, one need not go through the prior ones to use this tutorial. Inclusion of hints in each question is useful. An opportunity for the user to provide feedback concerning the module is a wonderful feature.
The module provides several questions requiring solutions, immediate feedback to marked answers, and help for each answer. The module is clear and concise and provides a satisfactory demonstration of the concepts chosen to be presented. It is both current and relevant, provides accurate information, is flexible, and can be used in a variety of settings. Concepts are satisfactorily integrated and summarized. Once this module is completed, respondents may then complete the Overall Assessment #1 to obtain further feedback on their competence of the topics in this and previous, related modules.
The number of examples/practice sets is small. The scope could have been narrowed to only asset/liability relationships or only revenue/asset relationships with a greater number of examples. The stated objectives did not appear to match the actual exercises. Expense examples did not really exist. Grading of answers to the fill in the blank questions is case-sensitive. Answers must also be spelled correctly. U.S. students using the module might be a bit confused by account titles, for example, the use of Bank rather than Cash.
Potential Effectiveness as a Teaching Tool
Very simple and easy to use. Some hints/explanations provided. The tone is very positive. Provides immediate feedback to respondent. Objectives have been identified,
prerequisite knowledge is identified with concepts reinforced progressively. The module is efficient in that students can learn much in a short time.
American students first learning accounting will find the British approach and terminology confusing. Both British and American students may become frustrated. Students must type in a word perfectly, including capital letters. The correct answers for incorrect responses are not given. Exercises cannot be reattempted. One of the 6 exercises is quite long and confusing, and the scoring total is incorrect. Providing more introductory text before questioning users would be beneficial. Finally, while objectives have been stated, they really do not appear to be the focus of the questions provided.
Ease of Use for Both Students and Faculty
The module is very easy to follow and use unless one attempts to seek help. Instructions are relatively clear. The module is engaging, visually appealing and suitably interactive. Overall design quality is very good.
The set of questions and exercises used is somewhat limited. Users must type in answers subject to aforementioned problem with case-sensitivity and correct spelling or conceptually correct responses will be judged wrong. When one goes for help, the respondent is sent back to a previous module and may initially have difficulty returning to the current module. Scoring of some of the exercises is incorrectly being calculated.
Careful consideration should be given to whether this tutoriral is used with American students first learning terminology and concepts. They are likely to become confused with the differing terminology used in another country. On the other hand it is a way to introduce global perspectives.
Other Issues and Comments:
This module is only one of several accounting modules contained within the Biz/Ed site. Drill and practice modules exist for other concepts. Some might be useful for American students. More importantly,
the Biz/Ed site within which this module is contained is a sizable resource for other accounting and economic information.
Double Entry for Assets and Liabilities, Revenues and Expenses can be used effectively to further demonstrate double-entry accounting, debits and credits, and the distinction between revenue and capital expenditures.