4/7/2024 0 Comments Monopoly board viewIn the previous use of the Monopoly ® board game, the class activity provided a valuable parallel for reality in practicing the financial accounting cycle and emphasizing its use by external parties. While the instructor surrenders a significant level of control in the class exercise, the uniqueness of each Monopoly ® team’s game results requires active engagement in-class and additional individual effort on the follow-up assignments outside the classroom. This pedagogical approach serves to provide students with a sense of proprietorship in the activities of the instruction and fosters a competitive spirit to succeed in class activities that will ultimately be presented to the entire class. The unique combination of each player’s skill and luck provides for unlimited outcome possibilities, delivering an interpretive result that students can neither predict nor easily manipulate. This extended approach uses the rules and strategies of a familiar board game to create a simulation of business and economic realities, which then becomes an effective, interactive, in-class financial accounting practice set. This extension adds elements of debt not previously utilized to allow for an introduction of the fundamentals of ratio analysis at a foundation level in financial accounting instruction. This paper extends the use of the Monopoly ® board game as an economic simulation exercise designed to reinforce an understanding of how the accounting cycle impacts the financial statements used to evaluate management performance.
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