Peer Review

First Accounting Cycle, 1 -- Classifying Accounting Data Using Excel

Material Detail page

Reviewed:: Sep 21, 2023 by Business

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Ratings

Overall Rating:

Content Quality:

Effectiveness:

Ease of Use:

Overview:

This is a Microsoft Excel-based learning exercise to allow students to enter accounting transactions in a simple general ledger system, and then practice with the Excel VLOOKUP function in order to learn how spreadsheets can aid in data entry for accounting. This is part one of a two-part learning activity. In part two, students learn to create the basic financial statements from the journalized transactions.

Part 1 of this activity provides a Microsoft PowerPoint presentation with the Excel worksheets embedded in the slides, along with detailed guidance on how to use the exercise in a classroom and computer lab setting, along with learning goals, teaching notes and links to additional resources. The activity also includes a student assessment module, with solutions available upon request to the content author.

This learning activity was originally developed to support the ‘Spreadsheets Across the Curriculum’ project, with the goal of encouraging college instructors and students to use electronic spreadsheets in the undergraduate curriculum.

All student materials are included in the download. Instructor materials are available upon request.

Type of Material:

Assignment

Recommended Uses:

In-class assignment; group assignment; homework

Technical Requirements:

Chrome; Edge; PowerPoint; Excel

Identify Major Learning Goals:

Will be able to simulate data entry for a basic accounting cycle practice
Use Excel to support accounting transaction entry and analysis.
Test the concepts of transaction classification, journal entries, and financial reporting.
Learn the time-saving capabilities within Excel.

Target Student Population:

Business, Accounting Undergraduate
College Introductory Financial Accounting Course

Prerequisite Knowledge or Skills:

Knowledge of transaction classifications and journal entries; basic knowledge of Excel capabilities

Content Quality

Rating:

Strengths:

Clear and concise demonstration of using Microsoft Excel to support accounting transaction journal entry and analysis
Realistic scenario with detailed guidance and explanation to allow instructors to assign as self-contained module or as an in-class demo Flexible, module-based activity can be split into separate topics, or combined into a larger case study
Provides a ‘learn-by-doing’ approach to give students practice with journalizing accounting transactions, along with developing skills in Microsoft Excel
The material is accurate and ready to deploy in a classroom setting.
Each slide provides students with detailed instructions as to how to leverage Excel lookup capabilities

Concerns:

It is not self-contained. This is meant to help introductory accounting students apply new information. Therefore, this needs to be one of the many tools used to facilitate learning.
No handout was provided to show the list of transactions, to assist students with the data entry portion of the assignment

Potential Effectiveness as a Teaching Tool

Rating:

Strengths:

Excellent guidance provided to the instructor to aid in incorporating into course material, covering both accounting concepts and Microsoft Excel
This takes students step by step through the process of journalizing transactions
Encourages students to think about using spreadsheets to support accounting analysis even outside the example presented in this activity, covers use and importance of electronic spreadsheets in general
Student assessment module provided, can be customized for many learning goals, context for use examples provided along with teaching notes and tips

Concerns:

The learning material does not clearly identify prerequisite knowledge, especially for the use of Excel

Ease of Use for Both Students and Faculty

Rating:

Strengths:

Learning activity is easy to use with very clear instructions, and meets accessibility requirements as long as students have access to Microsoft Office
Activity is visually appealing and engaging, and can be customized as needed to re-use with different transaction sets or more advanced analysis for later courses
Learning activity not reliant on an internet connection, increasing usability and reach to students who may not have reliable access to the internet
This is a plug-and-play activity.

Concerns:

None

Other Issues and Comments:: The content author encourages instructors to provide advance information to students prior to assigning this learning activity, including a handout which lists the transactions to be entered, along with suggested account numbers. It is also suggested the instructor demonstrate the Microsoft Excel functions in the classroom or lab prior to assigning the simulated data entry portion of the exercise.
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