Peer Review

Accounting Basics for Students

Material Detail page

Reviewed:: May 27, 2011 by Business

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Ratings

Overall Rating:

Content Quality:

Effectiveness:

Ease of Use:

Overview:

This module developed for students studying accounting in the United Kingdom, consists of six sections of content as follows: 1) Basic Accounting Concepts (7 lessons and a test), 2) Basic Accounting Transactions (12 lessons), 3) Double Entry Accounting (13 lessons), 4) The Accounting Cycle (4 lessons), 5) Accounting Reports (6 lessons), and 6) What is Inventory (6 lessons). A link to an Accounting Basics blog is provided where answers to student questions have been posted. The site also provides a subscription to a free newsletter.

Type of Material:

Tutorial

Recommended Uses:

Supplemental study outside of class.

Technical Requirements:

Browser

Identify Major Learning Goals:

To help students learn basic accounting concepts typically found in Chapters 1-5 of a professionally developed principles of financial accounting textbook. The author notes, his materials are not intended to replace a traditional text, but rather supplement it.

After completing the tutorial, students will be able to:

Understand basic accounting concepts.
Understand basic accounting transactions.
Understand double entry accounting.
Understand the accounting cycle.
Become familiar with basic accounting reports.
Understand the nature of inventory.

Target Student Population:

High school and lower-level undergraduate college students (United Kingdom)

Prerequisite Knowledge or Skills:

Basic algebra

Content Quality

Rating:

Strengths:

George's Catering, a sole proprietorship, is the basis for the transactions illustrated. The Basic Transactions content section is well done. The module is clear, concise, accurate and of high quality. Author does an excellent job of integrating all the various concepts covered. At the end of each lesson, users can submit questions to the author.

Concerns:

While concepts are covered in great detail and nicely integrated, there is no summary provided. No coverage of current and relevant standards/principles such as GAAP, IFRS, etc. As a result, the currency of the content may be suspect.
The author wants students to buy his textbook and hopes the materials presented encourage them to do so.
Non-standard terminology seems to be used but this may be due to international differences. Example: Lesson 6 for Accounting Reports, displays a Aged Receivables Report but calls it a Debtors Report. The nonstandard terminology will be confusing to students who do not reside in the United Kingdom.
The definition of "accountant" is incomplete. In an attempt to sound like "one of the guys", content accuracy has been sacrificed. For example, the statement "Employees can be seen as assets" is incorrect.

Potential Effectiveness as a Teaching Tool

Rating:

Strengths:

Concepts are presented with clarity, focus and organization for students studying introductory accounting in the United Kingdom. This module presents a lot of information effectively. The author tries to project a friendly, "I'm one of your mates" type of atmosphere.

Concerns:

The grammar used throughout is poor, which may not set the proper example desired by instructors.
The site requires an inordinate amount of reading and is no different from a textbook in that sense. As a result, it engages learners using a visual learning style. Since no audio is available, it would not be as appealing for auditory learners.
No practice and feedback features have been incorporated which would be a benefit to learners to enable them to check their understanding of content.
Users can't check answers to tests unless one's name and email address are provided.
Multiple choice questions have not been constructed in accordance to test and measurement guidelines.

Ease of Use for Both Students and Faculty

Rating:

Strengths:

Module is very easy to use and does not require instructions. It is visually appealing and written in laymen terms. An interactive and engaging feature is that learners are able to post questions for the author as well as read previously posted questions with answers.

Concerns:

The wealth of advertisements throughout are distracting.
Home page unrealistically hypes the value of the site.
Site navigation is poor. Users can easily lose their place.

Other Issues and Comments:: The primary purpose of this site is to sell the textbook. Topics covered would include about 5 chapters of an Introductory textbook. Some of the terminology used may be different from that used in other textbooks.
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