NABET, NABET 2014 FACULTY

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A Progressive Accounting Monopoly Project for Junior Accounting Majors: Version 6.0
John Olsavsky

Last modified: 2014-12-10

Abstract


This presentation will describe version 6.0 of a project incorporated in the junior year coursework of an accounting major (e.g., Intermediate Accounting I) to provide practice and reinforcement of their knowledge and skills related to the accounting process.  The project utilizes the popular Monopoly® board game as a tool to generate accounting transactions data over three, one-year periods of twelve turns each year.  This project provides students with progressively more difficult corporate accounting and financial reporting tasks including the preparation of journals (general and special), ledgers, workpapers (worksheet and account analysis), financial statements, notes to the financial statements and financial analysis.  Students are responsible for preparing all entries that affect the elements of the financial statements including, transactions, adjustments resulting from analyzing all accrual and deferral accounts and the income tax or benefit from any net operating loss carry forward or back. The project is first prepared manually using Microsoft Excel worksheets followed by the use of QuickBooks software to confirm the results for the last two years.


Keywords


Accounting,Education,Financial Reporting