Students save the day for a small business owner while learning the fundamental concepts of accounting. This interactive microlearning exercise allows students to discover how accounting helps businesses keep records of property, transactions, and profits. They learn about the basic accounting equation, accounting transactions, and double-entry accounting. The microsimulation culminates with a practical business challenge in which the students conduct a simple accounting audit to help the owner of a small business uncover the cause of discrepancies in their accounting books.
Fundamentals of Accounting is part of the Marketplace microsimulations ecosystem. The quick format, bite-sized delivery, and individualized pacing increase student focus, engagement, and knowledge retention. The microsimulation can be used as self-study prior to a class session, such as in a flipped classroom model, or in class to prime a rich discussion.
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Marketplace Simulations: Fundamentals Of Accounting
Ernest R. Cadotte, Marketplace Simulations
Product #:M-1004001_P
Supplier:Marketplace Simulations
Discipline:Accounting, Entrepreneurship, General Management
Your Price:$20.84
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Learning Objectives
- Learn about assets, liabilities, and equity
- Discover the basic accounting equation and its importance in accounting
- Learn about revenue, expenses and earnings and their effect on equity
- Experiment with accounting transactions, see how they relate to the accounting equation
- Try double entry accounting, practice recording business activities
- Learn how to correct accounting records after a business activity was recorded incorrectly and the books don't balance