TAILIEUCHUNG - Accounting Monopoly Ed Valenski CPA

Enhanced Business Reporting is comprised of voluntary, globally recognized guidelines for providing richer disclosure of business information, allowing companies to better communicate current and expected performance while giving the investment community and other stakeholders the information they need to make better decisions. This includes financial statements, key performance indicators based on industry-specific definitions, and company-specific information about strategy, plans, opportunities and risks | Accounting Monopoly Accounting Monopoly Ed Valenski CPA 516 587-2285 NYS Certified Business Teacher Part Time Massapequa High School Berner Middle School and Birch Lane Elementary School Ed Valenski 516 587-2285 Page 1 Accounting Monopoly Course Application Accounting . Finance focus on Financial Statement Creation Ratio Analysis and Valuation analyze the financial statements of the players and project future growth based on probability theory Entrepreneurship Limited Version - T Accounts Only . Personal Money Management and Investing with a revised version of the game properties are stocks etc. This is a separate lesson plan Objective Apply Accounting techniques to simulated business transactions by playing the game of Monopoly. Apply knowledge to construction of T Accounts Recording Transactions Creating and Posting to Journal and General Ledger Creating Three Column Trial Balance Financial Statements and conducting an Audit. OPTIONAL Preparing an Annual Report Valuing a Business and Analyzing performance through the use of ratios and benchmarks. Process Overview Have students play the game of Monopoly once per week or every other week over the course of a full year. Students record every transaction that results in an exchange of cash in T Accounts. Student s periodically post transactions to a Journal and General Ledger at least monthly . Quarterly each student prepares a three column Trial Balance. Midyear and at year-end students prepare a full set of Financial Statements Income Balance Sheet Statement of Changes in Cash and Stockholder s Equity At year end students Audit each other s final financial statements render an audit opinion and produce an Annual Report. Notes Once students have started this exercise is easy and effective to use as the lesson plan for a substitute. Activity can be paperless and integrated with technology by using MS Excel Word and Publisher. Use of ratios and financial analysis integrates with Math. Ed Valenski

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