The easiest way to learn new material is to relate it to something a person has already learned, something that is already in long-term memory. These two aspects led to the introduction of a very familiar board game to accounting class. The first chapter of this text introduces the accounting equation and the financial statements. The second chapter introduces debits and credits, the journal, the general ledger, and the trial balance. The front side is divided into columns with the accounting equation at the top.
Homework is assigned at the end of the time period.
Each student's task is to prepare, from the transaction sheet completed by playing the game, an income statement, a statement of owner's equity, and an ending balance sheet. This homework is turned in, corrected, and returned just prior to the next in-class group exercise. The students are instructed to play the game using their previous ending balance sheet as the beginning balance sheet for this exercise, and to journalize and post each of the day's transactions. The students benefit by having something concrete on which to relate basic accounting principles. They build relationships with other students that many times result in study partners, and they have some fun in accounting class.