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Sales and Purchase Transactions

by Susan Moncada

Ratings

Overall Rating:
Content Quality:
Effectiveness:
Ease of Use:

Reviewed:	Mar 21, 2011 by Business Editorial Board
Overview:	This problem-based learning activity helps students practice the recording of business-to-business sales and purchases transactions using the gross method in a perpetual inventory system.
Learning Goals:	To better understand sales and purchases transactions using the gross method and a perpetual inventory system.
Target Student Population:	High School, College Undergraduate
Prerequisite Knowledge or Skills:	Basic accounting analysis and ability to prepare journal entries properly using the rule of debit and credit.
Type of Material:	Drill and practice/assignment.
Recommended Uses:	In class or homework assignment, by individual or team.
Technical Requirements:	Browser, Microsoft Word 2007

Evaluation and Observation

Content Quality

Rating:

Strengths:	The module is clear and concise. It does an effective job of summarizing a basic concept in recording Merchandise Inventory transactions, i.e., Sales and Purchases.
Concerns:	Covers material readily available in any introductory financial accounting textbook.

Potential Effectiveness as a Teaching Tool

Rating:

Strengths:	Identifies learning objectives, is efficient and self-contained. Can easily be assigned as a stand-alone problem for practice in applying the concepts addressed in this module.
Concerns:	Similar to exercises that can be found in the Inventory chapter of an Introductory Financial Accounting Textbook.

Ease of Use for Both Students and Faculty

Rating:

Strengths:	Is easy to use and can easily be assigned for in-class work or as a graded assignment.
Concerns:	Is not engaging or particularly visually appealing.

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