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Strand 3 Standard 4:
Strand 4 Standard 1:
Strand 4 Standard 4:
Strand 5 Standard 1:
Strand 5 Standard 3:
Strand 6 Standard 1:
Strand 6 Standard 2:
Strand 5 Standard 6:
10 class periods of 45 minutes each
Use Monopoly to review the Accounting Cycle. Students create their own transactions while playing Monopoly. They then produce the financial statements.
Monopoly or other real estate board game for each 3 to 4 students in the class.
Students need to have completed all the steps in the accounting cycle. This activity can be done just before or just after the chapter on checking.
Knowledge of accounting cycle, debits, credits, journalizing, posting, trial balance, worksheet, financial forms, closing entries, etc.
Student will generate transactions playing Monopoly using checks and receipts. The transactions will be analyzed, journalized, and posted. A trial balance, worksheet, financial statements will be prepared. A bank statement will be reconciled. Closing entries will be make with a post closing trial balance.
Accommodations for special needs students are already part of the project. Students will work cooperatively. Teacher created spreadsheet templates can be used. Built in templates and wizards can be used in the creation of publications. The teacher or other students can give students one-on-one help. Accessibility Options in the control panel can be used as needed.
There are many opportunities for gifted students to extend the project. They can modify existing documents or design other documents used in playing the real estate board game. They could use an automated accounting program to keep their accounting records. They could visit or job shadow someone who uses accounting in their work. They can explore the history of real estate board games. They can visit an elementary school or career fair to explain about careers that using accounting.
Student Monopoly can be checked with the Monopoly game rubric.