This almost 14 minute video produced by Finance Train dated 2-12-2013 explains the rules of debits and credits for a sole proprietor type of business. Concepts presented in the video are reinforced regularly using structured examples. This video may be integrated as part of a lecture, individual review, and as a complementary part of individual instruction.
It is one of several videos from FinanceTrain.com designed to help prepare individuals for the Chartered Financial Analyst Exam.
Type of Material:
Presentation
Recommended Uses:
Individual, self-paced learning.
Technical Requirements:
Internet browser
Identify Major Learning Goals:
1) Differentiate between Balance Sheet and Income Statement accounts.
2) Explain how to classify transactions on accounting categories.
3) Learn the rules of debit and credit and apply them to accounting transactions.
Target Student Population:
High school and undergraduate students learning principles of financial accounting. Also, as FinanceTrain.com indicates - preparation for the Chartered Financial Analyst certification.
Prerequisite Knowledge or Skills:
An understanding of basic accounting terms: account, transaction, prepaid expense, unearned revenue, deferred taxes, fixed assets, revenues, expenses., etc. as well as balance sheet and income statement analysis.
Content Quality
Rating:
Strengths:
Content is accurate, however, precise technical definitions for terms is not provided. Material is well sequenced and explained. The discussion of the 3 different types of transactions and combination of accounts increasing and decreasing is good. The presentation reduces the rules of debits and credits to two rules.
The examples used to illustrate concepts complement the visual elements are a very easy to follow. T-accounts are used to record transactions instead of journal entries which for some instructors may be unacceptable. For those instructors not concerned about rigid mechanics, jumping to the quasi-ledger entries emphasizes balances in accounts. Despite being 4 years old, the video remains current.
The video has 3K likes and 288 thumbs down ratings. All of the materials associated with this video can be found at https://financetrain.com/category/accounting-4/page/3/.
Concerns:
The presentation refers to a previous lecture, but does not identify which one explicitly. The FinanceTrain website is not well organized for one to easily determine where this one fits.
While the five account categories are introduced, not all of the accounts listed as examples are explained (prepaid expenses, accrued expenses, deferred taxes).
At approximately 4:55 min. into the video, the graphic on the slide is not consistent with the five account categories previously listed. The Revenue/Gains category has been changed to Income. This inconsistency may prove confusing to novice learners.
Potential Effectiveness as a Teaching Tool
Rating:
Strengths:
Concepts are reinforced with examples that foster an understanding of the relationships among ideas. This presentation could support several different types of assignments.
Concerns:
Prerequisite knowledge is not specified, but necessary since some key terms are not defined.
The presentation introduces the notion of the T-account, but does not relate it to the ledger.
No end of lecture summary or assessment has been included.
Examples are very limited.
Users are told to complete the case study, but no link to its location is provided in the presentation. One has to register at the FinanceTrain.com website and download software to access it.
Ease of Use for Both Students and Faculty
Rating:
Strengths:
The presentation is easy to use, moderately visually appealing, and average in design quality.
Concerns:
The presentation is moderately engaging, but the presenter’s vocal qualities make it difficult to remain engaged for 13 minutes. The presentation is dry, lacks enthusiasm, and is not interactive in any way.
The graphics utilized are quite limited and elementary.
Creative Commons:
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