This module can be used by teachers for lesson plans or by students of to learn the basics of financial accounting and bookkeeping. Access to all of the materials requires a fee of $29.95. As a result, this review only applies to those materials that can be accessed for free.
Type of Material:
Lesson plan narrative
Lesson plan for teachers with in-class or homework activities for students (Lecture, homework, individual, team).
Browswer, Adobe Acrobat Reader (Excel for worksheets)
Identify Major Learning Goals:
To provide lesson plans for instructor in grades K-12 covering 10 concepts typically addressed when teaching the financial accounting cycle.
Target Student Population:
Grades 7-12, and adult education
Prerequisite Knowledge or Skills:
The lesson plans appear to be designed well. Only the text for the first lesson is available free of charge. The lesson plans are clear and concise. They break down a complex topic into manageable segments.
Unable to fully asses the quality of content given the limited materials available for free. Access to all worksheets and exercises requires payment of a $29.95 fee.
Accurcay of content is suspect based on the "What Is Accounting " document that can be downloaded.
Accounting provides more information than only the financial position of the organization.
The value of the stock an individual purchases is a function of the market and not solely dependent on tne financial information provided by the organization.
A company does not have to pay back money it has "lent." It pays back money it has "borrowed."
Expenses are not merely amounts paid in the course of operations, but rather outflows of financial and non-financial resources.
Principles in terms of accounting are not general laws, which might imply legal requirements.
Also all companies that have stock publically traded must follow GAAP - statements made in the "What is Accounting" document imply adherence is optional. It is not.
Since when are financial statements categorized as either a "Status/Stock" report or a "Flow Report."
Potential Effectiveness as a Teaching Tool
The broad purpose of these materials is to "Teach and learn basic accounting principles, bookeeeping skills, and methods." This module identifies appropriate learning objectives and applicable grade levels. The lesson plans attempt to reinforce concepts progressively and demonstrate relationships between them. Each lesson provides suggestions for the new teacher as to how to cover each topic.
Without access to the supplementary materials one cannot fully determine how useful they might be. One would be particularly concerned about the accrual accounting and adjusting entries lesson. Accruacy issues identified in quality of conent impact effectiveness as a teaching tool.
Ease of Use for Both Students and Faculty
The website is nicely designed. However, it is basically a presentation of written text.
Testing the use of all materials is not possible in order to fully assess design quality. Users must pay a fee for access to the interactive components and worksheets.
Other Issues and Comments:
Many needed components are not free.
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