Cash & Receivables (Chapter 7) consist of a series of 6 You Tube videos. The topics covered include 1) Overview (2:02), 2) Bank Reconciliation (7:17), 3) Accounts Receivable (4:41), 4) Uncollectible Accounts (6:24), 5) Notes Receivable (5:23), and 6) Journal Entry Recap (5:25). These videos correspond to the 9th edition of the Needles and Powers Financial Accounting textbook.
Type of Material:
Best used outside of class to reinforce material covered in class.
Browser (FireFox recommended) and video player
Identify Major Learning Goals:
To learn financial accounting concepts, focusing specifically on cash and accounts receivable (reinforce concepts learned from Chapter 7 of Needles and Powers Financial Accounting 9th ed. text).
Target Student Population:
High school or lower division college students.
Prerequisite Knowledge or Skills:
Introductory level financial accounting up to a typical receivables chapter or access to Needles and Powers Financial Accounting, 9th ed. textbook would be helpful.
Evaluation and Observation
The author, Susan Crosson does an excellent job of presenting and explaining the topic of cash and receivables in this series of six video clips. Step by step explanations with just enough detail help to facilitate student learning. The author discusses topics in a clear and concise way while including good examples to help students understand concepts/terminology better. Content has strong appeal because it is presented at a level which is geared towards college students. The bank reconciliation example in Video 2 includes outstanding checks, deposits in transit, bank service charges, a check error, a bank error, a NSF check, and note collection. Video 3 provides a great summary and transaction analysis of the accounts receivables and uncollectibles accounts. Video 4 covers both the percentage of sales and aged receivables methods of estimating bad debts. Video 5 provides a very nice illustration for calculating the maturity value of a note and determining the maturity date. Using one's knuckles to remember which months have 31 days is demonstrated as well as the "30 days have...." poem.
The video clips were created to supplement the Needles & Powers 9th ed. Financial Accounting textbook. As a result, students who do not have access to the textbook may find it a bit more difficult to follow the exercises and problems covered. While not necessarily concerns it should be noted that no journal entries are illustrated for the bank reconciliation (video 2) and notes receivable discussion (video 5). Instructors who use the 360 day accounting year, may need to provide a little context as well (video 5).
Potential Effectiveness as a Teaching Tool
The video clips are arranged sequentially and build upon each other. The first video provides an overview that explains the terminology used in subsequent videos. The final video provides a good recap of content covered in prior videos which helps reinforce learning. Concepts and terminology are covered with clarity, focus, and excellent organization. These videos appeal to multiple learning styles due to the inclusion of visual, audio and text components. This site would be an excellent supplement for students who need additional reinforcement. The pace is excellent. The presentation might also provide just a little different perspective that will help students learn and remember.
The introductory video does not explicitly list the learning objectives but the titles of the subsequent video clips gives an indication of the topic to be covered. Instructors probably should review these videos to determine the appropriate fit for their courses (e.g. the illustration of the percentage of sales method might be confusing for a course in which the text only covers percentage of receivables method for estimating bad debts.)
Ease of Use for Both Students and Faculty
The series of video clips in this module provide both audio and visual components. The instructor's use of a flip chart (text) provides students with an easy-to-follow-along format. Instructor is energetic and clearly loves teaching. Excellent use of rhetorical questioning. A bit of humor used here and there as well as the short length serves to maintain the viewers attention. Dark blue background also draws the viewers attention to the flip chart.
The audio component perhaps could be improved. Sometimes background noise (scratchy sound) and the squeaky sound from the marker when the instructor is writing may prove a bit irritating. When the problems or exercises are covered, the content on the flip chart becomes a bit cluttered.
Other Issues and Comments:
Abbreviations may not be the same as those found in other texts or used by other instructors. Although a few of the terms seem unique to the Needles and Powers text, the basics of introductory accounting will be the same.