INNOVATIVE ASSESSMENT STRATEGY

Students typically find accounting classes boring! For several years, I have been using Accounting Monopoly to spice things up. Students enjoy having the opportunity to take a break from more traditional accounting problems, and they gain a better understanding of accounting concepts. Although this lesson plan is written up for just one round of play, I usually have students play an on-going game once a week for 3-4 weeks. The lesson plan follows and contains links to other documents.

ACCOUNTING MONOPOLY

LESSON PLAN

SUBJECT:

 Accounting

LESSON:

 Recording business transactions in the general journal

STUDENT PERFORMANCE OBJECTIVE:

By the end of this lesson, given a list of terms and definitions, lecture, demonstration, practice, a sample transaction, and accounting work papers, each student will:
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Play the Monopoly board game with enthusiasm;

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Generate source documents for business transactions that occur during the game;

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Use the source documents to enter the transactions in the general journal correctly.

How will students be evaluated and what methods will be used to measure competence?

Students will play a game of Monopoly, generating source documents for business transactions that occur during the game, and use the source documents to enter the transactions in the general journal correctly.

ANTICIPATORY SET OR MENTAL READINESS (describe the introduction to the lesson you will use to get the students involved in the lesson):

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Ask students if they can think of ways that playing the Monopoly board game is similar to owning their own businesses;

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Review Student Performance Objective (from above)

INSTRUCTIONAL COMPONENTS (include type of lesson and major concepts to be covered):

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Review the following terms: debit, credit, source document, two-column general journal, journalizing, chart of accounts

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Demonstrate the correct procedure for writing a receipt

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Demonstrate the correct procedure for journalizing a business transaction

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Review the rules for the Monopoly board game

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Review the Accounting Monopoly chart of accounts and game procedures

CHECK FOR UNDERSTANDING AND/OR GUIDED PRACTICE AND INDEPENDENT PRACTICE:

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Have students journalize the sample Monopoly transactions

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Review the correct journal entries

CLOSURE ("Are there any questions?" is NOT an adequate closure):

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Remind students that generating source documents is an important part of keeping accurate records of financial transactions

MATERIALS NEEDED (video, worksheets, overhead, computer, quiz, etc.)

For the lesson:

For each student: A copy of the list of terms and definitions, Accounting Monopoly chart of accounts, list of sample Monopoly transactions

For the assessment:

For each student: A receipt book

For each group of 4-5 students: One Monopoly board game, a copy of game procedures