Mrs. Policelli's Accounting-opoly - Learning Center 2

When I was observing and preparing a lesson for an Accounting class during the Fall Semester, I came across the idea of using Monopoly to reinforce the processes taught in Accounting I, such as journaling, posting to the ledger, proving cash, and preparing financial reports.   I wanted to implement it during the obervation, but it did not quite fit in with the pacing of the class.  The teacher suggested I use it when I was student teaching.   The original Accounting Monopoly activity can be found at the following link: http://lessonplans.btskinner.com/acctg.html .  There are also other interesting accounting ideas at this site.  

To incorporate the activity into my Accounting course, I had to make some modifications.   We were not able to actually play the game, again due to time constraints, class size (31 students), and the classroom setup.  I prepared the Monopoly board game poster, which was hung on the bulletin board, and a packet for the students.  The packet includes instructions, a Chart of Accounts, Property Information, Journal Pages, General Ledger Pages, and the first group of "transactions".    The first set of transactions included:  Passing Go, buying properties, winning 2nd place in a beauty contest, paying Luxury Tax, collecting rent, and paying the electric bill.    The students had to create the journal entries for the Monopoly moves, there were 10 in total.  

To keep the game going, after our last test, the students drew 4 properties out of a hat, that were "purchased" by our opponents, and therefore not available to use.  Four students then took turns rolling the dice and moving our game piece around the board to generate our transactions.  In this set, we landed on Free Parking, Chance, Advanced to GO, and landed on a property that we already owned.   There was only one journal entry to record the GO income. 

During the week, we will take some time and move around the board.  At the end of the month, the students will post their journal entries to the General Ledger and Prove Cash.   The students will be assessed on their packet, which will count as a problem set grade.   Currently, the students complete a problem set for each chapter, so this will be weighted the same way.  

To complete this activity, I needed the following items:  Packet, Monopoly Board Poster, Game Piece, dice, Community Chest and Chance cards, and a knowledge of the game.   The students are actively involved in the game simulation and the activity reinforces the important concepts in Accounting, such as debits and credits, journaling and posting.  These concepts occur throughout accounting and need to be mastered.   Incorporating a game that all of the students are familar with, makes it interesting and relevant to them. 

In the picture below, notice that the class game piece is Dash Incredible, and is currently on Vermont Ave.   The starting T-Charts for Cash, Properties, and Capital are displayed as well.